APAC In Situ Hybridization Market Size by Products (Consumables, Instruments, Software), Technology (DNA FISH, RNA FISH, PNA FISH, CISH), Application (Cancer, Immunology, Neuroscience, Cytology), End User (Hospital, Pharma, Biotech, CROs) & Region - Global Forecast to 2027
The size of APAC in situ hybridization market in terms of revenue was estimated to be worth USD 363 million in 2022 and is poised to reach USD 744 million by 2027, growing at a CAGR of 15.4% from 2022 to 2027. The research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
In developed countries, high-quality molecular diagnostic tests are readily available. However, in developing countries, the cost of these diagnostic technologies is very high, which often makes them unaffordable for a large part of the population. Moreover, the lack of a commercial market for diagnostic procedures has resulted in the availability of a small number of diagnostic tests in developing countries. As a result, emerging markets such as India, China, and South Korea offer significant growth opportunities for MDx-based technologies (including ISH) owing to the rising geriatric population, the growing prevalence of infectious diseases and various types of cancers, the improving healthcare infrastructure, and increasing investments by respective government bodies and leading players in these countries.
Attractive Opportunities in the APAC in Situ Hybridization Market
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APAC In Situ Hybridization Market Dynamics
Driver: Rising incidence of genetic disorders and cancer
Clinical trials pertaining to genetic disorders increased most significantly in the Asia Pacific region. The number of trials conducted increased by 184% between 2010 and 2020. Japan accounted for the largest share, with 28.4% of all trials in the region taking place in Japan in 2020. Australia (25%) and China (21.6%) accounted for the second- and third-largest shares of the overall number of ongoing trials in the region. Moreover, Southeast Asians are more likely to have genetic disorders, according to a study led by co-senior authors Dr. Kumaraswamy Thangaraj of the CSIR-Centre for Cellular and Molecular Biology (CCMB) and Dr. David Reich of the Broad Institute of MIT and Harvard, Cambridge, US, in collaboration with other institutes.
Challenge: Shortage of skilled professionals
In Situ hybridization requires high technical know-how. For instance, understanding of the molecular information of a chromosome or a gene is crucial for conducting ISH tests. Moreover, there is a reluctcance to move from tradional approaches to IT-based approaches such as in situ hybridization. Thus, the shortage of skilled professionals for conducting in situ hybridization tests will hinder the market growth over the forecast period.
The consumables accounted for the largest share of the APAC in situ hybridization industry
The APAC in situ hybridization market is segmented into consumables, instruments, and software based on product. In 2021, the ISH consumables segment accounted for the largest share of this market. The growing 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 are expected to drive the growth of the consumables market during the forecast period.
The DNA FISH technology segment dominated the fluorescent APAC in situ hybridization industry
Based on the technology, the APAC in situ hybridization market is FISH (fluorescent in situ hybridization) and CISH (chromogenic in situ hybridization). The FISH segment is further categorized into DNA FISH, RNA FISH, and PNA FISH. In 2021, the FISH segment dominated the market with the highest revenue share as FISH is better for data analysis as FISh offers better visuals on software.
In 2021, hospitals & diagnostic laboratories generated the highest revenue in the APAC in situ hybridization industry.
Based on the end user, the APAC in situ hybridization market is segmented into hospital & diagnostic laboratories, academic and research institutes, CROs, and pharmaceutical & biotechnology companies. In 2021, the hospital & diagnostic laboratories generated the second highest revenue in the market.The growing patient population, increase in Medicare reimbursements for clinical tests performed in hospitals, and the emergence of advanced diagnostic tests are some of the key factors driving the growth of this end-user segment.
Japan was the largest market for Asia Pacific in situ hybridization industry in 2021.
Companies in Japan are increasingly focusing on revolutionizing the field of precision oncology and personalized medicine with the integration of genetics and proteomics diagnosis. Several collaborations have been observed in the country, which support the research industry in Japan. This trend is expected to continue in the coming years and contribute to market growth in Japan.
To curb the growing incidence of chronic diseases, the Japanese government has been taking initiatives for targeted treatments & personalized therapies, such as the establishment of the Center for Cancer Genomics and Advanced Therapeutics. This initiative is the focal point through which the government aims to aggregate and manage public information on genomic medicine. Efforts like these will also favor market growth in the country.
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Prominent players in the APAC in situ hybridization market include Abbott Laboratories (US), Thermo Fisher Scientific (US), Danaher Corporation (US), Merck (Germany), F. Hoffmann-La Roche (Switzerland), BioView (Israel), Agilent Technologies (US), Biocare Medical (US), Bio-Techne Corporation (US), QIAGEN (Germany), PerkinElmer (US), Enzo Biochem (US), Bio-Rad Laboratories (US), Abnova Corporation (Taiwan), BioGenex Laboratories (US), OpGen (US), Bio SB (US), Abcam (UK), Zytomed (Germany), 10x Genomics Inc. (US), and NeoGenomics Laboratories (US).
Scope of the APAC In Situ Hybridization Industry
|
Report Metric |
Details |
|
Market Revenue in 2022 |
$363 million |
|
Projected Revenue by 2027 |
$744 million |
|
Revenue Rate |
Poised to Grow at a CAGR of 15.4% |
|
Market Driver |
Rising incidence of genetic disorders and cancer |
|
Market Opportunity |
Untapped markets in developing countries |
This report categorizes the APAC in situ hybridization market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Consumables
- Kits & Reagents
- Probes
- Accessories
- Instruments
- Software
By Technology
- FISH
- DNA FISH
- RNA FISH
- PNA FISH
- CISH
By Application
- Cancer Diagnostics
- Cytology
- Infectious Disease Diagnostics
- Neuroscience
- Immunology
By End User
- Hospitals and Diagnostic Laboratories
- Academic and Research Institutes
- CROs
- Pharmaceutical and Biotechnology Companies
By Region
- Japan
- China
- India
- South Korea
- Taiwan
- Singapore
- Australia
- New Zealand
- Rest of Asia Pacific (RoAPAC)
Recent Developments of APAC In Situ Hybridization Industry
- 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.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global APAC in situ hybridization market?
The global APAC in situ hybridization market boasts a total revenue value of USD 744 million by 2027.
What is the estimated growth rate (CAGR) of the global APAC in situ hybridization market?
The global APAC in situ hybridization market has an estimated compound annual growth rate (CAGR) of 15.4% and a revenue size in the region of USD 363 million in 2022.
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This study involved four major activities in estimating the current size of the Asia Pacific in situ hybridization market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments.
Secondary Research
Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study of the in situ hybridization market. The secondary sources used for this study include Some of the key secondary sources referred to for this study include publications from government sources World Health Organization (WHO), Organization for Economic Co-operation and Development (OECD), GLOBOCAN, World Bank, World Cancer Research Fund, Centers for Disease Control and Prevention (CDC), American Cancer Society (ACS), American Association for Clinical Chemistry, US Food and Drug Administration (FDA). These sources were also used to obtain key information about major players, market classification, and segmentation according to industry trends, country-level markets, market developments, and technology perspectives.
Primary Research
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess future prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is a breakdown of the primary respondents:
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the in situ hybridization market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research
- The revenues generated from the in situ hybridization business of leading players have been determined through primary and secondary research
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Data Triangulation
After arriving at the overall market size from the market size estimation process, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To define, describe, and forecast the Asia Pacific in situ hybridization market based on product, technology, application, end user, and country
- To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, challenges, and opportunities)
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the Asia Pacific in situ hybridization market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to eight key countries, namely, Japan, China, India, South Korea, Taiwan, Singapore, Australia, New Zealand, and Rest of Asia Pacific.
- To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze competitive developments such as acquisitions, product launches, and expansions in the Asia Pacific in situ hybridization market.
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for this report:
Company Information
- An additional five company profiles
Global Analysis
- Breakdown of Market into North America, Europe, Asia Pacific, and Rest of the World.
Generating Response ...
Growth opportunities and latent adjacency in APAC In Situ Hybridization Market