According to the research report titled ‘Global In Situ Hybridization Market Size study, By Technology (Fluorescent In Situ Hybridization, Chromogenic In Situ Hybridization), By Probe Type (DNA, RNA), By Product (Instruments, Kits & Probes, Software, Services) By Application, (Cancer, Cytogenetics, Developmental Biology, Infectious Diseases, Others) By End-use (Hospitals & Diagnostic Laboratories, CROs, Academic& Research Institutes, Others) and Regional Forecasts 2021-2027’, available with the MarketStudyReport, global in situ hybridization market valuation accounted for USD 1,333.5 million in 2020 and is expected to reach USD 2422.1 million in 2027, recording a whopping 8.9% CAGR over the forecast period.
 

The rising number of cancer cases in consort with growing demand for molecular diagnostic tools are driving the growth of the global in situ hybridization market.
 

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For those unaware, in situ hybridization is a technique that enables precise localization of a specific nucleic acid segment. It is used in a variety of fields including cancer, cytogenetics, developmental biology, and infectious diseases among others.
 

Technological advancement and the introduction of advanced probe-based solutions will also augment the adoption for in situ hybridization during the study period. However, high costs of the technology is expected to hamper the overall market growth over the forecast period. 
 

Moving on to the segmentation analysis, the market is divided based on technology, probe type, product varieties, application scope, and end-use landscape. By technology, the market is divided into chromogenic in situ hybridization and fluorescent in Situ Hybridization segments.
 

As per probe type, the industry is bifurcated into RNA and DNA. Based on product landscape, global in situ hybridization industry is classified into services, software, kits & probes, and instrumental.
 

By application range, the market is categorized into infectious diseases, developmental biology, cytogenetics, cancer, and others. The end-user landscape of this business vertical involves academic & research institutes, CROs, hospitals & diagnostic laboratories, and others.
 

The geographical analysis of the market consists of Latin America, North America, Asia-Pacific, Europe, and the rest of the world.  
 

As per the report, North America accounts for the largest share in worldwide in situ hybridization industry and is predicted to expand constantly during the study period, owing to the growing health care expenditure and increasing number of patients.
 

Asia-Pacific market is also expected to have the highest growth rate between 2021 and 2027. Rising research and development activities as well as improving healthcare infrastructure are fueling in situ hybridization market size in Asia-Pacific.
 

Key players analyzed in the global in situ hybridization industry report are Advanced Cell Diagnostics Inc., Oxford Gene Technology (OGT), Bio-Rad Laboratories Inc., NeoGenomics Laboratories Inc., PerkinElmer Inc., Bio View Ltd., Agilent Technologies Inc., Thermo Fisher Scientific, Merck & Co. Inc., and Leica Biosystems.