(PharmaNewsWire.Com, January 19, 2021 ) According to the new market research report “Molecular Cytogenetics Market by Product (Kit, Reagent, Probe, Consumable, Software, Service), Technique (In-Situ, FISH, Comparative Genomic Hybridization), Application (Cancer, Genetic), End User (Research Labs, Institutes) – Forecast” published by MarketsandMarkets™, is projected to reach USD 2.52 Billion, at a CAGR of 10.1%.
Major Market Growth Drivers:
# Increasing Incidence of Genetic Disorders and Cancer
# Growing Focus on Targeted Cancer Treatment
# Increasing Aging Population and Subsequent Rise in Prevalence of Chronic Diseases
# Increasing Penetration of Molecular Cytogenetics in Clinical Pathological Testing
The objectives of this study are as follows:
- To define, describe, and forecast the global molecular cytogenetics market by product, technique, application, end user, and region
- To provide detailed information regarding the major factors influencing market growth (drivers, restraints, and opportunities)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall molecular cytogenetics market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
On the basis of product, is segmented into kits and reagents, instruments, consumables, and software and services. The kits and reagents segment is expected to account for the largest share of the global market; the increasing incidence of genetic disorders and cancer is a key market driver in this segment.
On the basis of technique, is segmented into comparative genomic hybridization (CGH), fluorescence in situ hybridization (FISH), in situ hybridization (ISH), and other techniques. CGH forms the largest and fastest-growing technology segment of this market, as the increasing laboratory automation will increase areas of application of CGH in molecular cytogenetics market.
Based on application, is segmented into genetic disorders, cancer, personalized medicine, and other applications. The genetic disorders segment accounts for the largest share of the global market and on the basis of end users, the market is segmented into clinical and research laboratories, academic research institutes, pharmaceutical and biotechnology companies, and others. The clinical and research laboratories segment is expected to account for the largest share of the global market.
Key players in the molecular cytogenetics market include F. Hoffmann-La Roche Ltd. (Switzerland) Danaher Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Abbott Laboratories (U.S.), Agilent Technologies (U.S.), PerkinElmer, Inc. (U.S.), Illumina, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Gene Technology (U.K.), and Applied Spectral Imaging (U.S.).
F. Hoffmann-La Roche Ltd. (Switzerland) was the largest player in the global molecular cytogenetics market, with a share of 15.2% in 2015. The company has a strong presence in the U.S. and in regions such as Europe, the Middle East, and Africa (EMEA), Asia-Pacific, Latin America, and Japan. It focuses on acquisition as its key growth strategy. For instance, in January 2014, Roche acquired Genia Technologies, Inc. (U.S.). This acquisition strengthened Roche’s next-generation sequencing pipeline. Moreover, in February 2015, Roche acquired Signature Diagnostics AG (Germany). This acquisition allowed Roche to further develop non-invasive treatment and monitoring devices for cancer patients.
Geographical Regions Mapped in Report:
Based on regions, the global molecular cytogenetics market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the market during the forecast period. Growth in this regional segment is driven by factors such as increase in the aging population and increasing prevalence of cancer and genetic disorders in the region
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