The Global APAC In situ Hybridization Market is projected to reach USD 744 million by 2027 from USD 363 million in 2022, at a CAGR of 15.4% during the forecast period. The growth is largely driven by increasing government and private funding in life sciences and cancer research, the increasing number of reagent rental agreements, and the application of innovative technologies and methodologies in the fields of tissue and in vitro diagnostics.
Key Market Players:
The market for in situ hybridization is competitive and highly consolidated, with key players strategizing to capture the market. Prominent players in the ISH market are Abbott Laboratories (US), Abcam (UK), Abnova Corporation (Taiwan), Agilent Technologies (US), Bio SB (US), Biocare Medical (US), BioGenex Laboratories (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), BioView (Israel), Danaher (US), Enzo Biochem (US), F. Hoffmann-La Roche (Switzerland), Merck (Germany), NeoGenomics Laboratories (US), OpGen (US), PerkinElmer (US), QIAGEN (Germany), Thermo Fisher Scientific (US), and ZytoVision (Germany).
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Key drivers of the APAC in situ hybridization market include growing cases of cancer in the region coupled with rising incidence of genetic disorders. Moreover, growing adoption of companion diagnostics will also propel the market growth. However, lack of skilled professionals will hinder the market growth over the forecast period.
The FISH segment dominates the in situ hybridization (ISH) market through 2020-2027.
The Asia Pacific in situ hybridization market is segmented into product, technology, application, end user, and country. The FISH segment is expected to witness significant growth during the forecast period due to various advantages, such as high resolution, speed, safety, and cost-effectiveness. It has also paved the way for the development of simultaneous detection of multiple targets, quantitative analyses, and live-cell imaging.
In 2021, the hospitals and diagnostic laboratories ranked first in terms of revenue in the in situ hybridization market.
On the basis of end users, the APAC in situ hybridization market is segmented into academic & research institutes, hospitals and diagnostic laboratories, contract research organizations (CROs), and pharmaceutical & biotechnology companies. In 2021, the hospitals and diagnostic laboratories segment accounted for the largest share of the in situ hybridization market, owing to easy accessibility of hospital-based laboratories coupled with high patient footfall in the hospitals.Moreover, Diagnostic labs are equipped with advanced technologies and capabilities, such as efficient billing and collection management. They offer a lower cost per test and a higher level of automation.
China is the fastest-growing country of the Asia Pacific in situ hybridization market.
China is estimated to grow at the highest CAGR in the Asia Pacific in situ hybridization market during the forecast period. China is the key revenue contributors to the Asia Pacific in situ hybridization market. Favorable government support for product approvals and the presence of major players in these countries are anticipated to drive the market growth.
The APAC In situ Hybridization Market is expected to witness a high growth rate during the forecast period of 2022-2027, due to several factors such as the increasing R&D investments, the growing prevalence of chronic diseases, the growing prevalence of infectious diseases, the increasing adoption of advanced technologies, and the rising demand for personalized medicine. Additionally, the growing demand for cost-effective diagnostic solutions and the presence of a large patient population are some of the major drivers of the APAC in situ hybridization market. Furthermore, the rising geriatric population and the increasing awareness about personalized medicine are expected to fuel the growth of the APAC in situ hybridization market.
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Recent Developments
- In 2022, RNAscope ISH Detection Kit manufactured by Bio-Techne received CE-IVD approval for the BOND-III platform (Leica Biosystems).
- In 2021, Applied Spectral Imaging (ASI) and KromaTiD, Inc. entered a strategic commercial partnership granting ASI worldwide rights to market KromaTiD’s proprietary Pinpoint FISH (PPF) probes and assay services.
- In 2020, Creative Bioarray introduced an advanced FISH probe to detect the 2019 Novel Coronavirus.
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