Cytogenetics Market Statistically Significant Findings by 2025: Abbott, Agilent Technologies, Illumina
Cytogenetics includes several techniques, such as comparative genomic hybridization, in situ hybridization with fluorescence, karyotype, immunohistochemistry and others. These techniques require the use of cytogenetic products such as test kits, media and reagents; consumable probes; instruments; and software and services. These products and techniques are used to detect genetic disorders and design personal drugs.
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According to a new report published by Allied Market Research the market was valued at $1,121 million in 2017, and is projected to reach $3,097 million in 2025, registering a CAGR of 13.5% from 2018 to 2025.
The increase in the prevalence of cancer and genetic disorders, the increase in the global geriatric population together with the increase in the prevalence of chronic diseases and the increase in awareness related to the acceptance of personalized medicines throughout the world are the factors that drive the growth of the global cytogenetic market. However, it is expected that a higher cost of advanced cytogenetic instruments will impede market growth.
Conversely, it is expected that the change from fishing techniques to those based on matrices will provide many opportunities during the forecast period. The rate of use of test kits, media and reagents is high, since they are the essential elements of each cytogenetic technique performed. However, the software and services segment is expected to grow at a high CAGR during the forecast period.
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The comparative genomic hybridization segment is the largest segment in the global cytogenetic market, and is expected to grow at a high CAGR during the forecast period. The segment of clinical and research laboratories is expected to grow at a moderate CAGR in the near future. On the other hand, the segment of pharmaceutical and biotechnology companies is expected to register a high CAGR during the forecast period.
Key Market Players:
• Abbott Laboratories
• Agilent Technologies Inc.
• Applied Spectral Imaging Inc.
• Empire Genomics LLC.
• Illumina Inc.
• Irvine Scientific.
• OPKO Health
Key findings of the Cytogenetics Market:
• The test kits, the media and the reagent segment accounted for approximately three quarters of the global market share of cytogenetic consumables in 2017.
• The comparative genomic hybridization segment is expected to grow at a CAGR of 10.5% from 2018 to 2025.
• North America accounted for most of the share of global market revenues in 2017.
• Asia-Pacific is expected to provide lucrative opportunities for market growth, registering a CAGR of 12.1% from 2018 to 2025.
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Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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