(PharmaNewsWire.Com, May 16, 2021 ) The 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", report provides a detailed overview of the major drivers, restraints, challenges, opportunities, and strategies impacting the market along with the estimates and forecasts of the revenue and market share analysis.
The Molecular Cytogenetics Market is projected to reach USD 2.52 Billion, at a CAGR of 10.1%
The high incidence and large economic burden of genetic disorders and cancer and rise in healthcare expenditure has resulted in the increasing use of molecular cytogenetic products in clinical and research laboratories, academic research institutes, and pharmaceutical and biotechnology companies.
Targeted therapies differ from standard chemotherapy in several ways. These therapies act on specific molecular targets associated with cancer, whereas most standard chemotherapies act on all rapidly dividing normal and cancerous cells. In solid tumors, significantly high levels of chromosome abnormalities have been detected, but distinction between critical and irrelevant events has been a major challenge. The emergence of molecular-based cytogenetic techniques such as fluorescence in situ hybridization is particularly useful for solid malignancies, and the spectrum of their application is rapidly expanding to improve efficiency and sensitivity in cancer prevention, diagnosis, prognosis, and therapy selection, alone or in combination with other diagnostic methods. The increasing use for molecular cytogenetics in clinical oncology will drive the growth of the global market.
Geographical View in-detailed:
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.
Global Key Leaders:
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.
Danaher Corporation (U.S.) was the second-largest player, with a market share of 13.7% in 2015. Leica Microsystems is a subsidiary of Danaher that develops molecular cytogenetics instruments and kits. The company has plants in Germany, Austria, Switzerland, the U.K., China, and Singapore. It has presence in over 100 countries—with sales and service organizations in 20 countries and an international network of distribution partners. The company focuses on the introduction of innovative and technologically advanced products in the Molecular Cytogenetics Market.
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