The in-situ hybridization market was USD 1,742.3 million in 2023, which will rise to USD 4,017.3 million, powering at a 12.8% compound annual growth rate, by 2030. 

The development is because of the increasing acceptance of the in-situ hybridization technique for diagnosing different cancers and genetic disorders; and the rising rate of improvements in this method. 

Moreover, the growing need for tailored doses and growing private and public funding for the research & development sector will further drive the expansion of this category. 

Furthermore, the major players are working on various applications for this method in the fields of molecular biology, pathology, development biology, and immunology, with the increasing consciousness of the improvements in treating cancer and genetic disorders. 

In 2023, the consumables category, based on product, led the industry, generating over USD 0.8 billion, and it will remain leading throughout this decade. The growing need for consumables is because of the widespread employment of kits in research studies, due to which they are constantly purchased. 

The cancer diagnostics category, on the basis of application, was the largest contributor to the in-situ hybridization market in 2023, with approximately 35% share. The surging prevalence of breast cancer is likely to boost the need for in-situ hybridization probes for diagnosis in the years to come. 

In 2023, the fluorescent in-situ hybridization (FISH) category, based on technology, led the industry. This is because of different uses of this technology in diagnostics, including characterization via marker chromosomes, unusual and genetic conditions identification, drug abuse tracking, and finding of structural & numerical chromosome defects. 

The pharmaceutical and biotechnology companies category, based on end user, accounted for the largest share in 2023, of approximately 40%. This can be because of the increasing utilization of in-situ hybridization by major clinical and pathological laboratories for disease diagnosis and research studies for target identification and drug discovery by pharmaceutical & biotechnology firms. 

North America led the industry in 2023, with a 55% share, and it will remain leading in the years to come. This can be mainly because of the increasing number of cancer incidences, autosomal diseases, genetic disorders, as well as infectious conditions in this continent. 

APAC is likely to propel at the fastest compound annual growth rate, of approximately 13.2%, in the years to come. This is because of the growing requirement for cytogenetic diagnoses, government initiatives, surging utilization of companion diagnostics, and growing clinical research on genetic disorders and cancer by biotechnology & pharmaceutical firms. 

It is because of the riding private and public investment for research and development, the in-situ hybridization industry will advance continuously in the years to come. 

SOURCE: P&S Intelligence