Deep Analysis of Impact of COVID-19 on “FISH Probe Market 2019-2026” Growth

Posted by Mrudula Anil Karmarkar on January 31st, 2022

The global fluorescent in situ hybridization (fish) probe market size is expected to reach USD 1.04 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.8% during the forecast period. Increasing global population prone to target diseases and demand for accurate and effective diagnostics of these diseases are the factors attributed to the growth. Increasing use of FISH probes in vitro diagnosis of various infectious diseases is expected to create growth opportunities in near future.

In addition, supportive government initiatives, rising healthcare expenditure and awareness pertaining to the benefits associated with FISH probe technique are expected to drive the market growth during forecast period. Furthermore, technological advancement in Chromogenic In Situ Hybridization (CISH) such as higher storage time for analyzed samples for long duration studies is expected to fuel the demand.

FISH is most commonly used for the detection of genetic diseases such as Angelman syndrome, Prader-Willi syndrome, chronic myelogenous leukemia, Down’s syndrome, Velocardiofacial syndrome, 22q13 deletion syndrome, acute lymphoblastic leukemia, and cri-du-chat. The genetic disease segment led the overall market in 2018. The probe does not require live cells and can quantify automatically as compared to the conventional cytogenetics, and is more convenient and effective. This factor is anticipated to propel the segment growth. According to a publication from the Centers for Disease Control and Prevention (CDC) in 2018, Down’s syndrome was the most common genetic disorders with almost one in every 700 new newborns affected by the disorder.

Increasing demand for In-vitro Diagnostics (IVD) testing for the diagnosis of various chronic diseases is expected to drive the demand in the forthcoming years. Growing demand for IVD is attributed to the high level of reliability, rapidity, and sensitivity of the FISH probe technique, which in turn is expected to propel the FISH probe market.

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DNA probe-based diagnostics is gaining popularity in medical diagnostics for the determination of suspected diseases caused by pathogens or bacteria. In addition, identification of new areas for diagnostic markets increased automation of diagnostic tests, and investments in pharmacogenomics and pharmaceutical research are the major factors propelling the growth. Increasing prevalence of genetic disorders such as Acute Lymphoblastic Leukemia (ALL) is further driving the market growth. For Instance, according to the American Cancer Society, almost 7000 new cases of ALL were diagnosed in 2018, with more than 1500 deaths in the U.S.

Further key findings from the study suggest:

  • Companion diagnostics is expected to command the largest market share of end use segment. Used in personalized medicine, it includes medical decision, products, and practices based on patient’s genetic, clinical, and genomic information
  • In oncology, major companion diagnostics are based on the FISH owing to higher reliability, sensitivity, accuracy, and procedure reproducibility, which are less affected by analytical variables and tissue fixation as compared to immunohistochemistry
  • miRNA is expected to be the fastest growing RNA segment, driven by factors such as increasing R&D and extensive usage in cancer detection
  • Asia Pacific is expected to showcase lucrative growth over the forecast period due to rising per capita healthcare expenditure, improving healthcare facilities, and demand for IVD testing for disease detection
  • Increasing R&D activities pertaining to cancer diagnostics and investment by private and government sector into biotech industry in Asia Pacific are the factors responsible for the growth
  • Key players operating in the Fluorescent In Situ Hybridization (FISH) probe market include Oxford Gene Technology; Mirus Bio LLC; Agilent Technologies; Perkin Elmer Inc.; Genemed Biotechnologies Inc.; Horizon Diagnostics; BioDot Inc.; Sigma Aldrich; Life Science Technologies; GSP Research Institute Co., Ltd; Abnova Corporation; Biosearch Technologies; F Hoffman La Roche AG; Bio Care Medical LLC; EXIQON; and Affymetrix Panomics

Some of the key market players operating are Oxford Gene Technologies; Life Science Technologies; PerkinElmer Inc.; Abnova Corporation; Biosearch Technologies Inc.; Genemed Biotechnologies, Inc.; and F. Hoffmann-La Roche AG. The market is competitive in nature with some of the companies including Abbott Laboratories and Agilent Technologies holding major market share owing to the extensive product portfolio, for instance, Vysis EGR1 FISH Probe Kit by Abbott.

Companies are adopting competitive strategies such as new product developments, strategic collaborations, and regional expansions to gain an advantage. For instance, in 2016, Oxford Gene Technology expanded its portfolio of Cytocell Aquarius FISH probes in the field of pathology. In addition, in 2016, the company introduced a new range of non-human fluorescent in situ hybridization probes for pig, chicken, and mouse.

CytoCell dominates the market for multiple myeloma FISH probes with its extensive product portfolio, strong geographic presence, and marketing channels. It recently introduced products for multiple myeloma FISH probe, some of them include BCL2 Breakapart, 57 BCL6 Breakapart, 58 CCND1 Breakapart, 58 IGH Breakapart, 59 IGH/BCL2 Translocation, Dual Fusion, and 60 IGH/CCND1 Translocation, Dual Fusion.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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Mrudula Anil Karmarkar

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Mrudula Anil Karmarkar
Joined: July 2nd, 2020
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