The global market for fluorescence in-situ hybridization (FISH) imaging systems is projected to grow significantly, reaching approximately US$ 1,901.4 million by 2030, up from US$ 1,084.0 million in 2022. This growth represents a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030.
Several factors are contributing to this market expansion, including the increasing incidence of target disorders and heightened investments in research and development for in-vitro diagnostics. Nevertheless, the high costs associated with FISH imaging systems and their procedures pose a challenge to market growth.
Opportunities in the Fluorescence In-Situ Hybridization (FISH) Imaging Systems Market
The FISH imaging systems are undergoing significant advancements due to rapid technological progress, leading to innovative solutions that are reshaping genetic research and diagnostics. These advancements encompass improved optics, more sensitive and adaptable fluorophores, and advanced automation capabilities. Contemporary FISH imaging systems, equipped with these enhanced features, provide superior sensitivity, enhanced image clarity, and quicker processing times. Furthermore, these technological improvements have broadened the application range of FISH imaging, extending from cancer diagnostics to genetic predisposition assessments. For instance, in July 2021, BioView and Capio Biosciences joined forces to develop a platform for isolating circulating tumor cells (CTCs) from whole blood. By merging their technologies, they aimed to enhance the downstream analysis of CTC liquid biopsies. Additionally, in December 2020, BioView and Capio Biosciences collaborated with RUBYnanomed to create a novel imaging solution designed to facilitate the acceptance and implementation of CTC technology in clinical settings, thereby improving cancer detection. Consequently, the technological advancements in FISH imaging systems present substantial opportunities for stakeholders in the fluorescence in-situ hybridization (FISH) imaging systems market.
Challenges Facing the Fluorescence In-Situ Hybridization (FISH) Imaging Systems Market
Various diagnostic tests, including computerized tomography (CT) scans, immunohistochemistry (IHC), bone scans, FISH imaging, magnetic resonance imaging (MRI), positron emission tomography (PET) scans, ultrasound, and X-rays, are utilized for cancer detection. However, FISH imaging analysis is less frequently employed for cancer diagnosis due to its relatively higher costs compared to alternative methods. The expenses associated with FISH imaging include not only the equipment but also the reagents, consumables, and the need for specialized personnel, which can significantly increase the overall evaluation costs. For example, the cost of detecting the ALK gene in non-small cell lung cancer via IHC is approximately US$ 90.07 in the US and US$ 68.69 in Europe, which is considerably lower than the costs associated with FISH and IHC testing, which can reach around US$ 441.85 in the US and US$ 279.46 in Europe per test. Thus, the high costs of procedures and systems are a limiting factor for the growth of the fluorescence in-situ hybridization (FISH) imaging systems market.
Segment Analysis of the Fluorescence In-Situ Hybridization (FISH) Imaging Systems Market
The fluorescence in-situ hybridization (FISH) imaging systems market is categorized by product into instruments, consumables, accessories, and software. In 2022, the consumables segment dominated the market and is expected to exhibit the highest CAGR moving forward. Consumables, which include hybridization buffers, probes, tag detection kits, and signal amplification detection kits, are anticipated to drive significant growth in the FISH imaging systems market. Major manufacturers such as Abbott, F. Abnova, and Thermo Fisher Scientific support the consumables segment, which is frequently utilized in various research and diagnostic processes, further boosting consumption. Therefore, the presence of numerous market players providing probes and kits, along with ongoing technological advancements, is likely to enhance the segment's growth in the coming years.
In terms of application, the FISH imaging systems market is divided into cancer diagnosis, genetic disease diagnosis, infectious disease diagnosis, and others. The cancer diagnosis segment held the largest market share in 2022 and is projected to maintain a higher CAGR. FISH technology has significantly advanced cancer diagnostics by enabling the detection of gene alterations and anomalies. According to Cancer Research UK, FISH testing is instrumental in diagnosing various cancers, including breast cancer, lymphoma, lung cancer, prostate cancer, chronic lymphocytic leukemia (CLL), acute lymphoblastic leukemia (ALL), acute myeloid leukemia (AML), chronic myeloid leukemia (CML), myeloma, Ewing's sarcoma, and melanoma.
Regarding end users, the FISH imaging systems market is segmented into diagnostic laboratories, contract research organizations, pharmaceutical and biotechnological companies, and others. The diagnostic laboratories segment captured the largest market share in 2022 and is expected to show a higher CAGR. These laboratories are engaged in numerous research initiatives aimed at developing various technologies and products for FISH imaging processes. The rapid advancements in research and technology have the potential to transform the healthcare and life sciences sectors. The clinical applications of FISH imaging systems are extensive, offering opportunities to improve diagnostic and treatment capabilities for chronic diseases. They hold significant promise for gene discovery and the diagnosis of rare genetic disorders, as well as analyzing both rare and common genetic factors that contribute to prevalent diseases such as cancer, hypertension, diabetes, and renal disorders.
Geographical Insights into the Fluorescence In-Situ Hybridization (FISH) Imaging Systems Market
In 2022, North America held the largest share of the global fluorescence in-situ hybridization (FISH) imaging systems market. Within this region, the US accounted for the most significant market share and is expected to experience the highest CAGR during the forecast period. The increasing demand for advanced diagnostic tools in molecular genetics and cytogenetics, coupled with the rising prevalence of genetic disorders and cancer, is driving the adoption of FISH imaging systems. According to the American Cancer Society, approximately 1.9 million new cancer cases were diagnosed in the US in 2022, with 609,360 cancer-related deaths. These systems provide high-resolution imaging of genetic material, allowing researchers and clinicians to identify chromosomal abnormalities and gene mutations with enhanced precision. Additionally, the growing emphasis on personalized medicine and targeted therapies has spurred research activities focused on genetic analysis, further increasing the demand for FISH imaging systems. The ability of these systems to deliver detailed spatial information on gene sequences within cells has proven invaluable for both research and clinical applications. Recent technological advancements in FISH imaging systems, such as improved automation, higher throughput, and enhanced image analysis software, have also gained popularity. Consequently, laboratories and medical institutions are now better equipped to manage larger sample volumes and produce accurate results efficiently. These factors are expected to drive the growth of the fluorescence in-situ hybridization (FISH) imaging systems market in the US.
Key primary and secondary sources utilized in the preparation of the report on the fluorescence in-situ hybridization (FISH) imaging systems market include data from the World Bank, National Health Service (NHS), FDA (Food and Drug Administration), EMA (European Medicines Agency), and WHO (World Health Organization).