Molecular Cytogenetics Market Slated to Expand at US$1.9 Billion by the end of 2019
Posted: Nov 14, 2017
A new Transparency Market Research report states that the global molecular cytogenetics market was valued at US$0.4 bn in 2012 and is expected to reach US$1.9 bn by the end of 2019, by expanding at an astounding 23.40% CAGR between 2013 and 2019. The title of the report is "Molecular Cytogenetics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019."
Molecular cytogenetics is the study of chromosomal structures by using molecular techniques. It is an indispensable tool utilized for the research and diagnosis of various chromosomal aberrations. Molecular techniques provide a combination of cytological and molecular approaches for diagnosis and research. These techniques are preferred over the conventionally utilized banding techniques owing to the fact that conventional techniques present low resolution level and may escape the detection of copy number variations.
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As stated in the report, the rising occurrence of cancer globally and the introduction of advanced and modern technologies for molecular cytogenesis have propelled the growth of the market. On the other hand, the absence of transparency and widespread availability of medical reimbursement policies may impede the growth of the market in the coming years.
On the basis of technology, the report segments the market for molecular cytogenetics into array-comparative genomic hybridization (aCGH) and fluorescence in situ hybridization (FISH). Amongst these, the aCGH technique has gained more demand than the FISH technique due to its high-resolution results and accurate analysis as compared to other conventional banding techniques. This segment is predicted to rise at a CAGR of over 20% from 2013 to 2019 and is poised to dominate the market on the basis of demand.
On the other hand, the segment of FISH also holds a dominant share in the market; the technology has been utilized since the past many years for identifying numerous diseases and for suggesting suitable treatment options. In addition, this technique is also backed by the ongoing advancements within the field of bioinformatics and genomics. FISH has emerged as a key tool for disease validation and thus is increasingly utilized in hospitals and laboratories. By application, the report segments the market into cancer, genetic disorders, personalized medicines, and others including infectious, cardiovascular, and neurological diseases.
By geography, the report segments the molecular cytogenetics market into Asia Pacific, North America, Europe, and Rest of the World (RoW). Amongst these, the North America molecular cytogenetics market held the largest share in 2012 and was trailed by Europe. The growth of the market in these two regions is fuelled by factors such as the increasing awareness amongst people about molecular cytogenetics and the growing count of research laboratories within these regions. In addition, the advancement of personalized medicines and the increasing occurrence of cancer in these two regions will also augment the growth of the market here. On the other hand, Asia Pacific is predicted to emerge as the most swiftly developing market in the forecast horizon due to the increasing population base within this region.
According to the report, the prime players operating in the market for molecular cytogenetics are Abbott Laboratories, Agilent Technologies, Inc., Oxford Gene Technology, Illumina, Inc., and Bio-Rad Laboratories, among others.
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