(PharmaNewsWire.Com, October 28, 2019 ) The overall growth of the In situ Hybridization Market can be attributed to the increasing diagnosis and growing incidence & prevalence of cancer, technology advancements in therapeutics, and increasing government initiatives globally.
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..
In the coming years, the market is expected to witness the highest growth in the Asia-Pacific region. This can be attributed to the 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 market in this region.
North America is expected to account for the largest share of the global market. This can be attributed to growing clinical and research in cancer by biotechnology and pharmaceutical companies, government initiatives, increasing prevalence and diagnosis of cancer in the U.S. and Canada, and increasing adoption of companion diagnostics. Increased adoption of Companion Diagnostics is attributed to the development and launch of newer therapeutic agents.
In the U.S., the in situ hybridization market is driven by increasing government initiatives, growing biomedical research, rising prevalence of cancer, and growing demand for companion diagnostics and personalized medicine. In Canada, the growth of the market is driven by increased government funding and growing prevalence of cancer.
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