Molecular Cytogenetics Market worth $2.52 Billion | Growing Focus on Targeted Cancer Treatment | at a CAGR of 10.1%

PUNE, India, 2020-Jul-24 — /EPR Network/ —

The emergence of molecular-based cytogenetic techniques such as fluorescence in situ hybridization is particularly useful for solid malignancies, and the spectrum of their application is rapidly expanding to improve efficiency and sensitivity in cancer prevention, diagnosis, prognosis, and therapy selection, alone or in combination with other diagnostic methods. The increasing use for molecular cytogenetics in clinical oncology will drive the growth of the global market.

How the Market Growth looks like and Industry Segmentation?

The Molecular Cytogenetics Market is projected to reach USD 2.52 Billion, at a CAGR of 10.1%

On the basis of techniques, the molecular cytogenetics market is segmented into comparative genomic hybridization, fluorescence in situ hybridization, in situ hybridization, and other techniques.

Applications of molecular cytogenetics 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 molecular cytogenetics market

Based on end users, the molecular cytogenetics market is 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. 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.

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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.

Major Market Growth Drivers:

• Increasing Incidence of Genetic Disorders and Cancer
• Growing Focus on Targeted Cancer Treatment
• Increasing Aging Population and Subsequent Rise in Prevalence of Chronic Diseases
• Increasing Penetration of Molecular Cytogenetics in Clinical Pathological Testing

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Based on regions, 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.

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.).