According to Coherent Market Insights, the global Molecular cytogenetics market size is calculated at US$ 4,211.4 million in 2023 and is projected to surpass US$ 19,494.0 Million by 2030 with a remarkable CAGR of 24.5% from 2023 to 2030.
Market Dynamics:
Growing incidence of genetic disorders and increasing use of molecular cytogenetics in cancer research drives market growth. Molecular cytogenetics helps in detecting such genetic abnormalities at microscopic level, which helps in disease diagnosis and development of targeted treatment strategies.
According to the National Cancer Institute, in 2021, around 1.9 million new cancer cases were diagnosed in the U.S. Genetic abnormalities play a major role in the development and progression of cancer.
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Market Trends:
Increasing adoption of fluorescence in situ hybridization (FISH) technology is a key trend driving market growth. (FISH) technology is widely used molecular cytogenetic technique for detecting genetic abnormalities at the chromosome and gene level. The technique helps in detection of genetic abnormalities associated with cancer, genetic disorders, and infectious diseases. Increasing applications of FISH technique in research and diagnosis is expected to drive the molecular cytogenetics market growth over the forecast period.
Growing use of array-based comparative genomic hybridization (aCGH) is another key trend gaining traction. It is a molecular cytogenetic technique used to analyze copy number variations or losses across entire genome for detecting genetic conditions such as cancer, congenital abnormalities, mental disabilities etc. aCGH helps in diagnosis of genetic disorders with higher resolution and sensitivity as compared to conventional cytogenetic techniques such as karyotyping
Molecular Cytogenetics Market Report Coverage
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Report Coverage |
Details |
|
Market Revenue in 2023 |
US$ 4,211.4 Million |
|
Estimated Value by 2030 |
US$ 19,494.0 million |
|
Growth Rate |
Poised to grow at a CAGR of 24.5% |
|
Historical Data |
2017–2021 |
|
Forecast Period |
2023–2030 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Product Type, By Technology, By Application |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
• Launch of new products by key market players to expand product portfolio |
|
Restraints & Challenges |
• Unfavorable reimbursement policies |
Market Opportunities
The instruments segment is expected to hold the largest market share over the forecast period. Advancements in molecular cytogenetics technologies have led to the development of sophisticated instruments that provide reliable and accurate results. Key players are focusing on developing novel instruments with improved resolution and automation capabilities to process large number of samples and give rapid results.
The consumables segment is anticipated to witness significant growth during the forecast period. Rising utilization of molecular cytogenetics techniques will propel the demand for consumables such as probes, kits, slides and reagents. Availability of customized consumables suitable for diverse applications will further support segmental growth.
The FISH segment is projected to dominate the market owing to wide usage of FISH technology for detecting genetic abnormalities. FISH provides precise information about chromosome structure and number. Technological advancements such as multi-color FISH and FISH gene probes have increased adoption of FISH in research and diagnostics.
The aCGH segment is poised to exhibit lucrative growth rate during the analysis period. aCGH helps identify alterations in DNA copy number associated with various genetic disorders. Advancements in aCGH technologies allowing high resolution analysis of whole genomes at affordable costs will fuel segment expansion.
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Key Market Takeaways
The global molecular cytogenetics market is anticipated to witness a CAGR of 24.5% during the forecast period 2023-2030. This is owing to increasing incidence of genetic disorders and growing focus on personalized medicine.
On the basis of product type, the instruments segment is expected to hold a dominant position. This is owing to continuous technological advancements.
On the basis of technology, the FISH segment is expected to hold the largest share over the forecast period. This is due to wide usage of FISH for detecting genetic abnormalities.
By application, the cancer segment will register highest growth. This is due to rising cancer prevalence and applications of molecular cytogenetics in cancer research.
North America is expected to dominate the global market through the analysis period. This is owing to high healthcare spending and presence of key market players.
Key players operating in the molecular cytogenetics market include
Abbott Laboratories,
Agilent Technologies,
Thermo Fisher Scientific,
Leica Biosystems,
Applied Spectral Imaging
Affymetrix.
Recent Developments:
In September 2022, the Azerbaijan Thalassemia Center, a medical institution, and BGI, a leading integrated solutions provider of precision medicine, had a virtual signing ceremony to sign a collaboration agreement. The partnership's goal is to improve thalassemia screening in Azerbaijan using genetic technology.
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