In Situ Hybridization Market worth $2.8 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Nov. 3, 2022 /PRNewswire/ -- In Situ Hybridization Market size is projected to reach USD 2.8 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 12.6% during the forecast period according to a new report by MarketsandMarkets™. Key drivers of the in situ hybridization market include rising incidence of genetic disorders and cancer, and growing awareness of companion diagnostics. However, a shortage of skilled professionals poses a significant challenge to the growth of this market.

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The FISH segment dominates the in situ hybridization (ISH) market through 2020-2027.

The global in situ hybridization market is segmented into product, technology, application, end user, and region. FISH uses fluorescently labeled DNA probes to detect or confirm the presence of genes or chromosomal abnormalities. It is also used in clinical research for the prenatal diagnosis of inherited chromosomal aberrations and postnatal diagnosis of carriers of genetic diseases. FISH is considered more reliable, sensitive, and accurate as compared to IHC; moreover, this test does not require expensive equipment.

In 2021, the hospitals and diagnostic laboratories ranked first in terms of revenue in the in situ hybridization market.

Based on end users, the global in situ hybridization market is segmented into hospitals and diagnostic laboratories, academic & research institutes, contract research organizations (CROs), and pharmaceutical & biotechnology companies. In 2021, the hospitals and diagnostic laboratories segment accounted for the largest share of the in situ hybridization market, due to an increasing number of molecule-based screenings, the increasing number of specialty diagnostic tests performed in hospital laboratories, the rising number of in-house diagnostic procedures, and the rising trend of establishing in-house diagnostic capabilities in hospitals.

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The Asia Pacific region is the fastest-growing region of the in situ hybridization market in 2021.

The Asia Pacific region is estimated to grow at the highest CAGR in the in situ hybridization market during the forecast period. China and India are the key revenue contributors to the Asia Pacific in situ hybridization market. Favorable government support for product approvals and the presence of major players in these countries are anticipated to drive regional market growth.

The in situ hybridization market is consolidated in nature with prominent players in the in situ hybridization market including Abbott (US), Abcam (UK), Abnova Corporation (Taiwan), Agilent Technologies, Inc. (US), Bio SB Inc. (US), Biocare Medical, LLC (US), BioCat GmbH (Germany), BioGenex Laboratories (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), BioView (Israel), Creative Bioarray (US), Danaher (US), Enzo Biochem (US), F. Hoffmann-La Roche AG (Switzerland), GeneMed Biotechnologies Inc. (US), Merck KGaA (Germany), NeoGenomics Laboratories (US), OpGen (US), Oxford Gene Technology (UK), PerkinElmer Inc. (US), QIAGEN N.V. (Netherlands), Thermo Fisher Scientific (US), and ZytoVision GmbH (Germany).

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