In 2023, the in-situ hybridization market amounted to USD 1,742.3 million and is set to grow at a compound annual growth rate of 12.8% between 2024 and 2030 reaching an estimated amount of USD 4,017.3 million by 2030.
This development of the market can be credited to the increasing acceptance of the in-situ hybridization (ISH) process for identifying numerous genetic illnesses and cancer, the rising pace of improvements in this method, and growing private and public funding for the research and development sector. Moreover, the rising demand for modified medicines is projected to fuel the industry growth.
There has been a distressing surge in cases of cancer worldwide in the past few years. This has caused a surge in the number of examined studies connected with this illness and those revolving around certain genomic irregularities, which are likely risk factors for numerous types of carcinomas.
In 2023, the FISH technology had a significant share, credited to the extensive variety of applications of this tech in diagnostics, like characterization with the aid of marker chromosomes, finding of numerical and structural chromosome flaws, finding of unusual and hereditary conditions, and drug abuse tracking.
In 2023, the North American region, generated the largest revenue share, of 55%, in the worldwide industry for in-situ hybridization solutions. The North American industry is projected to continue to uphold its dominating position during the projection period, mainly credited to the increasing count of autosomal diseases, cancer cases, genetic disorders, and also communicable conditions in the continent.
The U.S. is the key revenue generator in North America, mainly because of the strong government and private backing for the growth of new companion diagnostics methods.
