Molecular Cytogenetics Market to Perceive Momentous Accruals with 10.5% of CAGR with Abbott, Agilent Technologies, Applied Spectral Imaging, Bio-Rad Laboratories, Cytognomix By 2023

Molecular Cytogenetics Market Size

The global molecular cytogenetics market is expected to register a CAGR of nearly 10.5% during the forecast period of 2018–2023. The molecular cytogenetics deals with all aspects of chromosome biology with a wide range of applications in disease diagnosis and chromosomal abnormalities. This market is driven by increasing focus towards the cancer targeted therapy with their increasing prevalence globally. As per the topographical analysis, North America is expected to sustain the largest growing region due to their well-established healthcare infrastructure with the increase in research and development activities, and high awareness in the society regarding the early disease diagnostics and increasing aging population.

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Key Developments of Molecular Cytogenetics Market

January 2018 – Precipio Inc collaborated with the cytogenetics laboratory at the University of Pennsylvania, for conducting an external validation and evaluation of IV-Cell, Precipio’s cytogenetics media.

Molecular Cytogenetics Market Major Players
Abbott.,Agilent Technologies, Inc.,Applied Spectral Imaging, Inc.,Bio-Rad Laboratories, Inc.,Cytognomix, Inc.,F. Hoffmann-La Roche Ltd.,Illumina, Inc.,PerkinElmer, Inc.,Quest Diagnostics Incorporated.,and Thermo Fisher Scientific.

Growing Prevalence of Cancer and Genetic Disorders

The growing prevalence of cancer and genetic disorders patients have a direct rising impact on the increased demand of the molecular cytogenetic market. The related growth in mortality per year due to cancer in particular, has significantly driven this market. The techniques such as fluorescence in situ hybridization (FISH) has given significant insights regarding cancer genomics with the rapid and precise characterization of chromosomal anomalies for an early diagnosis, prognosis optimization, and opportunity for cure. The monogenic diseases are highly responsible for the heavy loss of life with a global prevalence of nearly 10/1000 as per the World Health Organization (WHO). Thus, the prevalence of life-threatening diseases plays a vital role in driving this market.

Other driving factors include increasing focus toward the targeted therapy for cancer treatment, the rise in funding for research and clinical diagnosis and technological advancements in cytogenetic techniques.

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High Cost of Overall Diagnostic Treatment

The high cost of overall diagnostic treatment related to cytogenetics and hospitalization of patients is one of the primary factor restricting the growth of this market. One of the cases is related to Down syndrome screening programmes where 80% of antenatal karyotypes are generated, and rapid aneuploidy diagnosis (RAD) is one of the standalone approaches but is expensive. Furthermore, delay in diagnosis and treatment often leads to increased hospitalization stay and overall cost. As per a 2015 published article in the Jornal de Peditria, the high cost limited the widespread use of the chromosomal karyotype such as chromosomal microarrays.

Other factors limiting the growth of this market are the ambiguous scenario of regulatory guidelines and reimbursement, as well as, the lack of awareness about the emerging diagnostic technologies for cytogenetics.

Asia-Pacific to Register the Fastest Growth Rate for Molecular Cytogenetics Market

Asia-Pacific is expected to register the fastest growth rate in the forecast period. The healthy CAGR is expected due to the surge in the scientific researches in countries, such as India, China, Japan, and Malaysia due to funding from government and companies collaborating with research centers. The novel opportunities are further enhanced by the rising number of long-term collaborations of multinational companies with domestic manufacturers and research laboratories in this region. This is followed by the diversified patient pool suffering from cancer and genetic disorders.

The North America region is expected to dominate the market with a large number of clinical research laboratories and academic institutes with better regulatory framework in the countries of this region.

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