|Status : Upcoming||Report Code : VRHC1091||Industry : Healthcare||Available Format :|
Molecular cytogenetics is the genetic variation through in-situ hybridization techniques. It provides an analysis of genome organization, its behavior, and structure in high resolution. The global molecular cytogenetics market is growing at a significant rate, due to the mounting occurrence of cancer and genetic disorders, and escalating penetration of molecular cytogenetics in clinical pathological testing. Different products such as kits & reagents, consumables, instruments, and software & services contributed to the molecular cytogenetics market size. The market has witnessed a high demand for kits and reagents due to the mounting occurrence of cancer and genetic disorders.
Insight by Product
On the basis of product, the market is subdivided into kits & reagents, consumables, instruments, and software & services. Of all products, kits & reagents segment accounted the largest share in the market due to the mounting occurrence of cancer and genetic disorders. In addition, the software & services segment is expected to grow at the fastest rate in the market, due to speedy acceptance of automation in the laboratory process and escalating inclination for outsourcing of costly services.
The kits & reagents segment is further subdivided into testing kits, fluorescent affinity reagents, probes, and other kits & reagents.
Insight by Technique
On the basis of technique, the market is subdivided into comparative genomic hybridization, in situ hybridization, fluorescence in situ hybridization, and other techniques. Of all the techniques, the comparative genomic hybridization accounted foremost share and is expected to grow at the fastest rate in the molecular cytogenetics market due to an upsurge in laboratory automation.
The comparative genomic hybridization is further subdivided into the array-based comparative genomic hybridization and standard comparative genomic hybridization.
Insight by Application
On the basis of application, the market is subdivided into genetic disorders, personalized medicine, cancer, and other applications. Among all applications, the genetic disorders application accounted the largest share in the molecular cytogenetics market. Moreover, the personalized medicine application is expected to grow at the fastest rate in the market, due to elevated investment in research and development and an upsurge in demand for precision medicine.
Insight by End User
The different end users of the market are clinical & research laboratories, pharmaceutical, and biotechnology companies, academic research institutes, and other end users. Among all end users, the clinical & research laboratories accounted the largest share in the molecular cytogenetics market.
Evolution from fish to array-based techniques is the trend in the molecular cytogenetics market.
The mounting occurrence of genetic disorders and cancer, expanding the geriatric population, escalating healthcare expenditure, and mounting occurrence of chronic diseases are the primary growth drivers for molecular cytogenetics market. For instance, according to GLOBOCAN globally, approximately 14.1 million new cancer cases were diagnosed and there were 8.2 million cancer deaths in 2012. In addition, according to the World Health Organization (WHO), in 2015 approximately 8.8 million people died due to cancer. Moreover, approximately 70% of the deaths from cancer occur in low and middle-income countries.
Mounting emphasis on targeted cancer treatment, evolution in the gene-based projection of genetic abnormalities, and escalating penetration of molecular cytogenetics in clinical pathological testing are also facilitating the growth of the molecular cytogenetics market.
Elevated price of innovative instruments and unfavorable reimbursement scenarios are the major challenges for the growth of molecular cytogenetics market.
Globally, the manufacturing companies trying to enter the molecular cytogenetics market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. The instruments required for cytogenetics procedures and researches are equipped with advanced functionalities due to their high costs. This offers an edge to the established players in the industry competition.
Geographically, North America is the largest molecular cytogenetics market as in the region the occurrence of cancer and the genetic disorder is increasing. In addition, escalating healthcare expenditure, and expanding geriatric population are also up surging growth of the North American molecular cytogenetics market.
Asia-Pacific is observed to witness the fastest growth in the market, due to expanding the geriatric population. In addition, the mounting occurrence of genetic disorder and cancer, and escalating healthcare expenditure are also creating a positive impact on the molecular cytogenetics market growth in the region.
Key players in the molecular cytogenetics market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In October 2018, Precipio Inc., launched HemeScreen, a molecular test for the mutation in hematologic cancer. Abbott Laboratories, Inc., Illumina, Inc., Applied Spectral Imaging, Perkinelmer, Inc., Bio-Rad Laboratories, Inc., Preciio Inc., and Thermo Fisher Scientific Inc. are the key players offering molecular cytogenetics.
Source: VynZ Research
Source: VynZ Research