(PharmaNewsWire.Com, April 18, 2019 ) This market is expected to reach USD 739.9 Million by 2021 from USD 557.1 Million in 2016, growing at a CAGR of 5.8%. The global in situ hybridization market is segmented on the basis of technique, application, end user, and region.
The growth of the overall market can be attributed to the increasing diagnosis and growing incidence & prevalence of cancer, technology advancements in therapeutics, and increasing government initiatives globally.
By application, the in situ hybridization market is categorized into cancer diagnosis, cytology, neuroscience, immunology and infectious diseases. The cancer diagnosis segment is expected to command the largest share of the global in situ hybridization market, by application in 2016. This segment is also projected to grow at the highest CAGR during the forecast period (2016-2021). This is attributed to factors such as rising prevalence of cancer, increasing adoption of FISH in diagnosis of cancer, and rising demand for FISH-based companion diagnostics for cancer.
On the basis of end users, the global in situ hybridization market is segmented into molecular diagnostic laboratories, academic & research institutes, contract research organizations, and pharmaceutical & biotechnology companies. In 2016, the molecular diagnostic laboratories segment is estimated to account for the largest share of the global in situ hybridization market, by end user.
This segment is also projected to grow at the highest CAGR during the forecast period (2016-2021). This can be attributed to the availability of specialized skill sets in molecular diagnostic laboratories for ISH technique, rising prevalence of cancer coupled with genetic abnormalities, and increasing adoption of FISH in diagnosis of cancer and genetic abnormalities.
On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America is poised to account for the largest share of the in situ hybridization market, followed by Europe and Asia-Pacific. However, the Asia-Pacific market is slated to grow at the highest CAGR during the forecast period.
Factors such as growing presence of international players in China and India, increasing cancer prevalence and diagnosis, and increased healthcare expenditure across the Asia-Pacific region are drivers for the in situ hybridization market in this region.
Increasing diagnosis and growing incidence & prevalence of cancer, technology advancements in therapeutics, increasing government initiatives globally are some of the pivotal factors driving the growth of the global in situ hybridization market.
Abbott Laboratories, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), Leica Biosystems Nussloch GmbH (Germany), Agilent Technologies (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Merck KGaA (Germany), PerkinElmer, Inc. (U.S.), Exiqon A/S (Denmark), BioGenex Laboratories, Inc. (U.S.), Advanced Cell Diagnostics, Inc. (U.S.), and Bio SB Inc. (U.S.) are some of the key players in the in situ hybridization market worldwide.
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