Global Fluorescent in Situ Hybridization (FISH) Probe Market: (by Product, Technology, End User, Application, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

A fluorescent probe is used in a sub-atomic cytogenetic technique known as Fluorescent in Situ Hybridization (FISH) to visualize genetic material. They are used to spot chromosomal structural and numerical anomalies, monitor the effects of therapeutic drugs, and find unusual genetic illnesses.

FISH testing, as opposed to the commonly used normal cytogenetic (cell gene) tests, can spot tiny genetic alterations that are typically missed under the microscope. Because of this, these probes are frequently employed for the diagnosis, prognosis, and clinical treatment of cancer and genetic abnormalities. The global FISH probe market is anticipated to reach US$1.64 billion in 2023, growing at a CAGR of 8.11% over the projected period.

Segment Covered

By Product: In terms of product, the report provides the bifurcation of the market into two segments: instrument/ software and consumables. The instrument/ software segment held the highest share in the market. On the other hand, the consumables segment is expected to grow at a significant CAGR in the forthcoming years, owing to the wide range of consumables used in the detection.

By Technology: On the basis of technology, the report provides the bifurcation of the market into three segments: Q FISH, Flow FISH and others. The Q FISH technology segment held the largest share in the market. This was being followed by Flow FISH technology segment. Growing demand for In Vitro Diagnostics (IVD) testing and targeted medicines around the world is also propelling this segment forward.

By End User: The report provides the bifurcation of the market into three segments based on the end user: clinical procedures, research and companion diagnostics. The clinical procedures segment held a major share in the market. This was being followed by research segment. The high share of clinical procedures can be attributed to the large number of diagnostic centers and their widespread use of FISH for diagnostic and prognostic purposes. The rise in the number of incidents related to genetic disorders, solid tumors, leukemia, autism, and other syndromes is predicted to stimulate market demand for FISH Probe over the forecast period, thus boosting the growth of clinical procedures segment.

According to the application, the report provides the bifurcation of the market into two segments: cancer diagnostics and other. The cancer diagnostics segment held a major share of in the market. The increase in the incidence rate of cancer cases is anticipated to drive the growth. Rising unhealthy lifestyle, aging population, health conditions, and environment are leading factors for causing cancers. With the rise in the number of cancer cases, the need for in FISH situ hybridization techniques for rapid and efficient diagnosis is high.

Geographic Coverage

According to this report, the global FISH probe market can be divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America, based on the geographical operations. The countries covered in North America region are the US, Mexico, and Canada, while Europe includes UK, Germany, France, Spain, Italy and Rest of Europe. Moreover, China, Japan, India, South Korea, Australia and Rest of Asia Pacific are included in the Asia Pacific region. North America held the maximum share in the market, owing to high incidence rate of genetic disorders leading to birth defects, developmental disabilities, and other metabolic syndromes. Within North America, the US is leading the market, due to the presence of a considerable number of market players and incentivized research projects by the regional government. Whereas, in the Europe region, Germany is dominating the market due to growing pharmaceutical and biotechnology sectors.

Top Impacting Factors

Growth Drivers

• Growing Aging Population
• Rapid Urbanization
• Increasing Prevalence of Cancer and Genetic Disorders
• Growing Requirements For In Vitro Diagnostics (IVD) Testing

Challenges

• Rising Pathologist Shortages
• Lack Of Efficient Digitalization Solutions And Advanced Automation Capabilities

Trends

• Escalating Demand for Big Data
• FISH Automation

Driver: Growing Requirements For In Vitro Diagnostics (IVD) Testing

The growing requirements for In Vitro Diagnostics (IVD) testing and targeted therapies across the globe are boosting the market growth. In comparison to the traditionally used standard cytogenetic (cell gene) tests, FISH tests can identify minute genetic changes that are usually missed under the microscope. These probes are therefore widely used for the diagnosis, prediction of outcomes and clinical management of cancer and genetic disorders. The development of automated IVD systems for laboratories and hospitals provide efficient, accurate, and error-free diagnoses. Also, IVD products with molecular diagnostic capabilities deliver effective and accurate results. The with growth in IVD testing, the FISH In situ hybridization probe market is expected to propel during forecasted years.

Challenge: Lack Of Efficient Digitalization Solutions And Advanced Automation Capabilities

In addition to shortages in people sufficiently skilled to conduct analysis and interpretation of results, the FISH market is constrained by three other main factors. First, the fact that FISH data analysis is still carried out manually and subject to human judgment - mostly due to a lack of efficient digitalization solutions and software support - leaves significant room for improvement in the standardization of care. Second, current systems lack advanced automation capabilities, requiring sporadic human intervention to help along the process, which results in material time inefficiencies and introduces variability. Finally, diagnostic capabilities are unequally distributed, leading to large geographic variations in diagnostic quality.

Trend: FISH Automation

The benefits of automated FISH probe analysis compared with manual procedures are well-documented in scientific literature. Comparative studies have shown equivalent levels of clinical accuracy in identifying and classifying genetic markers between the two methods (>95% concordance, C. Ohlschlegel et al., 2013). Automatic analysis is considered to be at least as reliable as its manual alternative, removing the need for time-consuming case-by-case manual interpretation. The benefits of this are two-fold: First, automatic procedures are not subject to human judgment - which is intrinsically subjective and potentially misleading - resulting in a fully objective and unbiased classification of cells; Second, the analytical power of automated platforms relies on pre-defined, predictable parameters and is therefore highly replicable - which could contribute to the standardization of FISH overall, while reducing the need for highly-trained technicians and the impact of inherent variability. Thus, automation in the FISH In situ hybridization probe market is anticipated to propel the overall market growth during forecasted years.

The COVID-19 Analysis

In 2020, the global in FISH situ hybridization probe market had seen an acceleration in its growth rate due to the terms left by COVID-19. The concept of in situ hybridization probe plays a crucial role in studying the biology of the novel virus and identifying its potential threats to the human body. Therefore, the governments of various countries and private institutions have increased their funding on in situ hybridization probe to conduct extensive R&D to figure out the related findings. However, the lockdown imposed worldwide has affected the research process by slowing them due to the unavailability of the workforce and created a gap between supply and demand. However, the global in situ hybridization probe market is forecasted to grow at a better growth rate.

Analysis of Key Players

The FISH Probe market is a fragmented market. The industry is also filled with a myriad of small players who are, for the most part, overshadowed by bigger players due to their lack of distinctive product differentiation. The key players in the global FISH Probe market are Roche Holdings AG, Thermo Fisher Scientific Inc., Bio-rad Laboratories, Inc., Bio-Techne Corporation, Abbott Laboratories, Danaher Corporation, PerkinElmer, Inc., Biocare Medical LLC, Agilent Technologies, Genemed Biotechnologies, Inc., Sysmex Corporation, Abnova Corporation, LGC Group.