The global molecular FISH testing market held a market value of USD 609.6Million in 2020 and is projected to reach USD 978.6 Million by the year 2027. The market is anticipated to grow at a CAGR of 7.2% from 2017 to 2027.
Molecular FISH testing or Fluorescence in situ hybridization is a technique used in the laboratory for the detection and location of a particular DNA sequence on a chromosome. The market is expected to be driven by the rising prevalence of genomic abnormalities & cancers and the growing adoption of new techniques for molecular-based cytogenetics. Furthermore, the high cost of probes and risk of contamination is estimated to hinder the market growth.
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The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while otherI private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Increasing prevalence of genomic abnormalities and cancers
The prevalence of cancer, as well as genomic abnormalities, is increasing rapidly. According to the National Cancer Institute, around 1,806,590 new cases of cancers were expected to be diagnosed in the United States in 2020. As per the same source, about 606,520 people were estimated to die suffering from the disease. In addition, according to the Centers for Disease Control & Prevention, as of October 2020, in the United States, one out of every 33 babies is affected by a birth defect. Therefore, the rising prevalence of genomic abnormalities and cancers is anticipated to boost market growth.
Increasing adoption of new techniques for molecular-based cytogenetics
Molecular based cytogenetics consists of all aspects of chromosome biology and the application of molecular cytogenetic techniques in all fields of medicine and biology, including functional and structural organization of the nucleus & chromosome, evolution & expression, genome variation, and chromosome abnormalities, among others. Increasing adoption of new techniques for molecular-based cytogenetics includes the rising adoption of molecular FISH testing, hence fueling the market growth.
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The global molecular FISH testing market is segmented into technology, probe type, cellular stains, application, and end-user.
The Cryo FISH segment is estimated to hold the largest market share of about 28% owing to its high preference over other technologies. In addition, the Q FISH segment is expected to grow at the fastest rate of about 8.6% during the forecast period.
By Probe Type,
The whole chromosome segment is expected to hold the largest market share owing to the high demand for whole chromosome FISH testing. The centromeric repeats segment is estimated to grow at the fastest growth rate over the projected period.
By Cellular Stains,
DAPI (4,6 diamidino 2 phenylindole)
The acridine orange segment is anticipated to surpass a market value of about USD 141 million by 2027 owing to increasing usage for molecular FISH testing as compared to other cellular stains.
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The cancer research segment held the largest market share of around 50% owing to the rising prevalence of cancer and growing research activities for the development of better diagnostic and treatment options for cancer. Within the cancer research segment, the prostate cancer segment witnessed a growth rate of more than 9% owing to rising incidences of prostate cancer. Furthermore, the genetic diseases segment is anticipated to hit a market value of USD 238.3 million by 2024 due to the growing number of genetic disorders cases globally.
The clinical segment is estimated to hold the largest market share owing to the increasing usage of molecular FISH testing for clinical applications. The companion diagnostics segment is expected to witness the fastest growth rate of 8.3% during the forecast period.
By region, the global molecular FISH testing market is divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.
The North American region accounted for the largest market share of more than 40% owing to the presence of major players in the region and increasing focus on the development of personalized medicine for diseases such as genetic disorders and cancer.
The European region is expected to hold the second-largest market share due to increasing research activities in the region. The Asia Pacific region is anticipated to grow at the fastest rate of 9%. The Middle East & Africa and South America region are also expected to grow at significant rates.
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Major players in the global molecular FISH testing market include Oxford Gene Technologies, Life Science Technologies, PerkinElmer Inc., Abnova Corporation, Biosearch Technologies Inc., Genemed Biotechnologies, Inc., F. Hoffmann La Roche AG, NeoGenomics Laboratories, Intertek Group plc, Abbott Laboratories, Creative Biolabs, Inc, ARUP Laboratories, Cepheid, MedGenome, GeneDx, and Gene Technologies, among others.
The cumulative market share of the seven major players is near about 70%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in August 2021, OGT announced the expansion of support activities in collaboration with CytoCell University. This initiative partner with scientists for providing expert and innovative training on the fundamentals of FISH.
Table Of Content:
Chapter 1. Research Framework
1.2. Product Overview
1.2.1. Market Segmentation
1.2.2. Market & Segment Definitions
1.3. Research Methodology
1.3.1. List of Primary & Secondary Sources
1.3.2. List of Primary & Secondary Sources
1.3.3. Market Size Estimation
126.96.36.199. Assumption for the Study
188.8.131.52. Data Triangulation
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The global Molecular FISH Testing market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Molecular FISH Testing market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Molecular FISH Testing market report answers questions such as:
What is the market size and forecast of the Global Molecular FISH Testing Market?
What are the inhibiting factors and impact of COVID-19 on the Global Molecular FISH Testing Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Global Molecular FISH Testing Market?
What is the competitive strategic window for opportunities in the Global Molecular FISH Testing Market?
What are the technology trends and regulatory frameworks in the Global Molecular FISH Testing Market?
What is the market share of the leading players in the Global Molecular FISH Testing Market?
What modes and strategic moves are considered favorable for entering the Global Molecular FISH Testing Market?’
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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Updated : 2022-01-14 23:23 GMT+08:00
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