Market Trends of Fluorescent In Situ Hybridization Industry
This section covers the major market trends shaping the Fluorescent In Situ Hybridization Market according to our research experts:
Cancer Segment is Expected to Show a Significant Growth in the Fluorescent In Situ Hybridization Market
The cancer segment is anticipated to hold a significant market share over the forecast period owing to the factors such as the growing presence of in vitro diagnostics, the high burden of cancer globally, and rising technological advancements in fluorescent in situ hybridization used for cancer diagnosis.
Cytogenetic technique plays a crucial role in the detection of cancer chromosomal abnormalities. According to the American Cancer Society Cancer Statistics 2023, 1.9 million new cancer cases are predicted to be diagnosed in the United States in 2023. Also, as per the Australian Institute of Health and Welfare (AIHW) 2021 report, a total of 150,782 new cancer cases were estimated in Australia in 2021. In addition, as per the ICMR 2021 Report, it has been observed that the number of cancer patients in India was expected to rise from 26.7 million in 2021 to 29.8 million in 2025. The huge burden of cancer worldwide boosts the utility of FISH to diagnose diseases and help plan treatment, which is expected to propel segment growth.
The rising use of FISH in research studies for Her2 gene detection, as recommended by the US FDA, is also contributing to segment growth. For instance, according to a research article published in Contrast Media Molecular Imaging Journal in August 2022, FISH was used in the detection of the Her2 Gene in Breast Cancer Patients. According to the research article, due to its benefits of high detection specificity, high sensitivity, and strong experimental duration, fluorescence in situ hybridization (FISH) technology accompanied by a fluorescent microscope has increasingly acquired favor in related fields. FISH is very effective in detecting the abnormalities of the MET (hepatocyte growth receptor factor) gene of non-small cell lung cancer and in breast cancer gene detection. Thus, these factors are expected to impact positively on the cancer segment of the fluorescent in situ hybridization market.
North America is Expected to Hold a Significant Market Share Over The Forecast Period
North America is expected to be a dominant region in the fluorescence in situ hybridization (FISH) market owing to the high burden of chronic disease and growing product approvals related to FISH.
According to the Canadian Cancer Society, Breast cancer statistics 2022 report, it is estimated that 28.6 thousand Canadian women will be diagnosed with breast cancer, representing 25% of all new cancer cases in women in 2022. On average, 78 Canadian women will be diagnosed with breast cancer every day. The high burden of breast cancer and genetic diseases in the region is expected to propel market growth in the region.
The FISH technique is used for locating specific DNA sequences, diagnosis of genetic diseases, gene mapping, and identification of novel oncogenes contributing to various types of cancers. The high spending on cancer genomics in the region is estimated to propel the utility of fluorescence in situ hybridization. For instance, according to NIH Research Portfolio Online Reporting Tool (RePORT), May 2022 report, the spending on cancer genomics in the United States was USD 1,160 million in 2021 and USD 1,220 million in 2022. The rising spending on gene engineering projects in the region is expected to propel market growth in the region during the forecast period.
Furthermore, as per the abovementioned NIH report, the funding for research in genetics was reported to be USD 11,010 million in 2021 and USD 11,480 million in 2022. The high burden of spending on genetics in the United States is expected to propel the utility of FISH during the research, which will augment the market growth in the region during the forecast period.
