Fluorescent In Situ Hybridization Market Size

Fluorescent in Situ Hybridization Market Analysis

The Fluorescent In Situ Hybridization Market is poised to grow at a CAGR of 6.8% over the forecast period.

COVID-19 profoundly impacted the studied market owing to the rising research studies deploying fluorescence in situ hybridization. For instance, in an article published in the PLOS One Journal in November 2022, fluorescence in situ hybridization (FISH)-based evaluation method was used for the detection of SARS-CoV-2 in saliva. All saliva samples were FISHed with a Cy3-labeled SARS-CoV-2-specific DNA probe and were analyzed manually by fluorescence microscopy (proof-of-concept). However, the market is expected to show a stable growth rate during the forecast period owing to the rising prevalence of cancer and genetic diseases globally.

In addition, the growing burden of cancer and genetic diseases and innovation in FISH products are actively affecting the growth of the studied market.

According to the Canadian Cancer Society May 2022 update, it was estimated that 30 thousand Canadians would be diagnosed with lung and bronchus cancer, representing 13% of all new cancer cases in 2022. As fluorescent in situ hybridization is used to diagnose various types of cancer to find chromosomal abnormalities, there is an increasing demand for FISH, thereby driving the market.

Furthermore, fluorescence in situ hybridization (FISH) is used to detect and locate a specific DNA sequence on a chromosome. It is also used as a molecular cytogenetic technique to diagnose genetic diseases. For instance, according to the World Alzheimer Report published in September 2021, over 55 million people live with dementia worldwide. This is forecasted to reach 78 million by 2030. Also, as per the Alzheimer's Association 2021 report, an estimated 6.2 million Americans aged 65 and older were living with Alzheimer's dementia in 2021 in the United States. By 2050, the number of people aged 65 and older with Alzheimer's dementia is projected to increase to 12.7 million. The increasing burden of Alzheimer's disease globally surges the demand for FISH used in the genetic testing of the disease condition, thereby leading to the growth of the studied segment market.

FISH is mainly used for locating specific DNA sequences, diagnosis of genetic diseases, and gene mapping; its use in genomics is vital. The increasing funding and investment by biotechnology and pharmaceutical companies and government organizations for research and innovation in the field of genomics is estimated to propel market growth. For instance, according to the NIH National Human Genome Research Institute (NHGRI) 2022 report, the FY 2022 United States President's Budget request for human genomics research is USD 633.0 million, an increase of USD 17.0 million compared with the previous year. In order to improve human health, NHGRI interacts with a variety of groups, performs and funds genomics research, and educates the next generation of genomics specialists. The huge investment by the NHGRI in the genomics study is expected to utilize a large amount of FISH during the research, which is expected to propel the market growth during the forecast period.

Therefore, owing to the aforementioned factors, such as the high prevalence of cancer and genetic diseases and rising funding leading to the high utility of FISH, the studied market is anticipated to witness growth over the analysis period. However, a lack of awareness about emerging diagnostic technologies in cytogenetics is likely to impede market growth.