Industry Background:
The major factors responsible for the growth of In situ hybridization market are rise in awareness about cancer along with technological developments in cancer therapeutics and increasing cancer prevalence. For instance, according to the American Cancer Society around 1.7 million new cancer cases are expected to be diagnosed in 2018 and over 609,640 Americans are expected to die of cancer in 2018. Hence, there has been rise in demand for increasing adoption of companion diagnostics and personalized medicine which is driving the demand for In situ hybridization. As it uses a labeled complementary RNA, DNA, or modified nucleic acid strand to localize a particular RNA or DNA sequence in a portion of tissue. Moreover, increasing government initiatives and increased healthcare expenditure in developing economies expected to fuel the market demand during the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Abbott Laboratories, Inc. (United States), F. Hoffmann-La Roche AG (Switzerland), Leica Biosystems Nussloch GmbH (Germany), Agilent Technologies (United States), Thermo Fisher Scientific, Inc. (United States), Merck KGaA (Germany), PerkinElmer, Inc. (United States), Exiqon A/S (Denmark) and BioGenex Laboratories, Inc. (United States) |
According to AMA, the market for In situ Hybridization is expected to register a CAGR of 20.3% during the forecast period to 2030. This growth is primarily driven by Rise in Cancer Prevalence, Growing Popularity of DNA Probe-Based Diagnostics and Increasing Government Spending In Healthcare Sector.
Globally, a noticeable market trend is evident Emphasizing On Technological Advancements in Cancer Therapeutics
Major Players, such as Abbott Laboratories, Inc. (United States), F. Hoffmann-La Roche AG (Switzerland), Leica Biosystems Nussloch GmbH (Germany), Agilent Technologies (United States), Thermo Fisher Scientific, Inc. (United States), Merck KGaA (Germany), PerkinElmer, Inc. (United States), Exiqon A/S (Denmark) and BioGenex Laboratories, Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July, 2021 Bio-Techne has expanded its Advanced Cell Diagnostics brand's RNAscope in situ hybridization technology portfolio with the release of the new RNAscope HiPlex V2 assay for formalin-fixed, paraffin-embedded (FFPE) and fixed and frozen samples for up to 12 targets.
Regulatory Insights:
“According to the Food and Drug Administration (FDA) for safety and effectiveness of an automated FISH enumeration system. A manufacturer who intends to market a device of this generic type should conform to the general controls of the Federal Food, Drug, and Cosmetic Act (the Act), including the premarket notification requirements described in 21 CFR 807 Subpart E and obtain a substantial equivalence determination from FDA before marketing the device.”
Influencing Trend:
Emphasizing On Technological Advancements in Cancer Therapeutics, Growing Clinical Research in Cancer by Pharmaceutical and Biotechnology Companies and Rising Focus on Automation of Diagnostic Tests
Market Growth Drivers:
Rise in Cancer Prevalence, Growing Popularity of DNA Probe-Based Diagnostics and Increasing Government Spending In Healthcare Sector
Challenges:
Availability of High-Throughput Whole Genome Sequencing and Other Advanced Technologies
Restraints:
Stringent Government Regulations Regarding In Situ Hybridization and Lack of Skilled Medical Professionals
Opportunities:
Rising Demand for Personalized Medicine and Companion Diagnostics, Increasing Applications in Genetic Diseases and Cancer Diagnostics and Growing Healthcare Infrastructure in the Developing Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in In situ Hybridization Market
- Analysis about New Entrants in In situ Hybridization Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, In situ Hybridization Study Sheds Light on
The In situ Hybridization Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the In situ Hybridization industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where In situ Hybridization industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.