Molecular Cytogenetics Market Worth $2.52 Billion | Growing Focus on Targeted Cancer Treatment & Increasing Incidence of Genetic Disorders

PUNE, India, 2020-May-25 — /EPR Network/ —

[147 Pages Report] The Molecular Cytogenetics Market is projected to reach $2.52 Billion, at a CAGR of 10.1%

The implementation of molecular cytogenetics in clinical & research laboratories requires high capital investments. The instruments needed for cytogenetics research and procedures are expensive since they are equipped with advanced features and functionalities. Owing to their high costs, companies and research institutes with smaller R&D budgets cannot afford to purchase or produce such expensive instruments.

On the other hand, pharmaceutical companies will require many such systems to maintain efficiency, and hence their capital cost increases significantly. Furthermore, academic research laboratories find it difficult to invest in such systems as they have controlled budgets. In developing countries owing to budget constraints, small- and medium-sized hospitals and clinical pathology laboratories cannot afford high priced, fully automated, technologically advanced instruments.

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Market Segmentation in Depth:

On the basis of product, the market is segmented into kits and reagents, instruments, consumables, and software and services. The kits and reagents segment is expected to account for the largest share of the global market; the increasing incidence of genetic disorders and cancer is a key market driver in this segment.

On the basis of technique, the market is segmented into comparative genomic hybridization (CGH), fluorescence in situ hybridization (FISH), in situ hybridization (ISH), and other techniques. CGH forms the largest and fastest-growing technology segment of this market, as the increasing laboratory automation will increase areas of application of CGH in molecular cytogenetics market.

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.

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The global market is segmented into four major regions North America, Europe, Asia, and Rest of the World. Geographically, the global market is dominated by North America. Growth in the North American segment is primarily driven by the high incidence of genetic disorders and cancer, rapid growth in the aging population, and high healthcare expenditure.

The major players in the molecular cytogenetics market are F. Hoffmann-La Roche Ltd. (Switzerland) Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories (US), Agilent Technologies (US), PerkinElmer, Inc. (US), Illumina, Inc. (US), Bio-Rad Laboratories (US), Oxford Gene Technology (UK), and Applied Spectral Imaging (US).