(PharmaNewsWire.Com, June 02, 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 ", the research 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.
Major Market Developments;
- In January 2014, Roche acquired Genia Technologies, Inc. (U.S.). This acquisition strengthened Roche's Next Generation Sequencing pipeline.
- In February 2015, Roche acquired Signature Diagnostics AG (Germany).
- In January 2016, Thermo Fisher Scientific, Inc. acquired Affymetrix (U.S.). This acquisition strengthened Thermo Fisher Scientific's leadership into bioscience business and create new market opportunities in genetic analysis.
- In July 2016, Thermo Fisher Scientific and HEALTH BioMed (China) collaborated to support HBM’s development of molecular diagnostic kits for infectious diseases and pharmacogenomics screening which will serve the Chinese market.
On the basis of techniques, segmented into comparative genomic hybridization, fluorescence in situ hybridization, in situ hybridization, and other techniques.
Based on applications, the molecular cytogenetics market is segmented into genetic disorders, cancer, personalized medicine, and other applications. The genetic disorders segment is expected to account for the largest share of the global market.
Based on end users, 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 molecular cytogenetics market in 2016. Rise in healthcare expenditure has resulted in the increasing diagnosis of genetic disorder and cancer resulting in increasing use of cytogenetic kits and reagents in the above mentioned end users.
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.).
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