LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global fluorescence in-situ hybridization (FISH) probes market is expected to grow at a CAGR of more than 7% during the forecast period.
This research report titled ‘Global FISH Probes Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The report categorizes the global fish probes market into three major end-user segments. They are:
- Clinical procedures
- Research studies
- Companion diagnostics (CD)
Global FISH probe market by clinical procedures
On the basis of service providers, the clinical procedures are segmented into hospital-based laboratories, stand-alone laboratories, and clinic-based laboratories. Clinical procedures are considered an integral part of the healthcare industry, as almost 80% of physician’s diagnoses are dependent on laboratory tests. With increased preference for minimum contact time with physicians, clinical procedures are witnessing greater demand. It is because these clinical laboratory services gather, interpret, and deliver precise information to physicians at the right time, thus saving cost and time. They offer a wide range of tests that aid in the detection of abnormalities and disease progression, including urine and blood tests to high-end genetic analysis such as molecular expression testing and FISH probe.
According to Amber Chourasia, a lead analyst at Technavio for health and wellness research, “The major drivers for clinical procedures include the rising prevalence of chronic diseases, growing elderly population, and increasing patient awareness pertaining to early disease diagnoses.” Early disease detection enabled by specialized diagnosis, particularly in the areas of endocrinology, gynecology, and oncology, is resulting in physicians taking complete advantage of clinical procedures for disease diagnosis and treatment.
Hospital-based laboratories lead the clinical procedures segment. High patient base, along with the consequent presence of high test volumes in healthcare facilities, is boosting the growth of this segment.
On the other hand, stand-alone laboratories constitute the fastest-growing sub-segment due to increasing demand for POC tests (POCTs) and rising market penetration rates in emerging and underdeveloped regions such as APAC, South and Central America, and Africa. Thus, the demand for FISH probes is expected to grow with the increase in the number of clinical procedures across the globe.
Global FISH probe market by research studies
The global expenditure on R&D has grown consistently over the past few years. It went up from USD 1.3 trillion in 2009 to USD 1.6 trillion in 2014. With the economies of developing countries such as India and China growing faster in comparison to developed countries, these emerging economies are expected to have more research facilities and institutes being set up over the next five years. This will result in the use of more advanced technologies such as FISH probes for the diagnosis of diseases and discovery of drugs.
With countries continuing to place emphasis on knowledge expansion and innovation, the trend of increased R&D spending will continue over the forecast period. The healthcare sector was the second largest field, attracting approximately 20% of the overall R&D expenditure in 2014. The largest investment in R&D in 2014 was in the computing and electronics field, attracting around 25% of the overall R&D expenditure. “Thus, the increase in the number of research and testing facilities, particularly in the field of pharmaceutical and biotechnology, will lead to a rise in demand for the FISH probe market for molecular diagnostics,” says Amber.
Global FISH probe market by CD
CD is used in personalized medicines and includes medical decisions, along with products and practices based on the patient's genetic, genomic, and clinical information. In oncology, major CD is based on FISH probes due to higher reliability, accuracy, sensitivity, consistency, and procedure reproducibility, which are less influenced by tissue fixation and analytical variables compared to immunohistochemistry (IHC).
The market is driven by advances in technologies such as next-generation sequencing (NGS), owing to its capability of identifying multiple genes at a single time. The end results of NGS are superior compared to other technologies, as NGS provides a wider definition of genome sequencing, thus fueling the adoption of NGS-based CD. This has further encouraged the adoption of diagnostic tests in the earlier clinical phase and ensured accurate treatments. Currently, NGS-based CD tests are offered for cystic fibrosis. The CD manufacturers are engaged in developing tests for other life-threatening and chronic diseases. To cover this market, pharmaceutical firms are striving to enter the global FISH probe market through strategic acquisitions and collaborations with NGS platform diagnostic firms.
The rise in the cost of drug discovery, along with a continuous focus on personalized or customized medicines, has further resulted in the need for technically advanced diagnostics in pharmaceutical firms to enter and flourish in the market. Encouragement from regulatory bodies will further drive the demand.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Agilent Technologies
- Genemed
- Roche Diagnostics
- Thermo Fisher Scientific
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