How the Molecular Cytogenetics Market Has Witnessed Substantial Growth in Coming Years?

Molecular cytogenetics involves every aspect of chromosome biology and the application of this technique in all areas of medicine and biology, including functional and structural organization of the nucleus and chromosomes, expression and evolution, chromosome abnormalities in tumor genetics and medical genetics, and genome variation. This branch of science uses technologies like karyotyping, immunohistochemistry (IHC), fluorescence in situ hybridization (FISH), and comparative genomic hybridization (CGH) to detect various chromosomal and genetic aberrations. These techniques are used for the construction of molecular, genetic, comparative, and physical maps.

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These molecular cytogenetic techniques are widely used for diagnosing cancer. The surging cases of cancer are, therefore, expected to drive the molecular cytogenetics market at a 9.9% CAGR during the forecast period (2018–2023). The market generated revenue of $1.8 billion in 2017, and it is projected to reach $3.3 billion by 2023. Moreover, an increase in the cancer research activities will facilitate the market growth in the foreseeable future, as researchers are using CGH and FISH to gain critical information about cancer-related molecular signatures.

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Currently, a surge in the mergers and acquisitions among key players like Agilent Technologies Inc., NeoGenomics Inc., Danaher Corporation, Bio-Rad Laboratories Inc., Abbott Laboratories, PerkinElmer Inc., Illumina Inc., and F. Hoffmann La-Roche AG is being witnessed. For instance, Agilent Technologies Inc. acquired Advanced Analytical Technologies Inc., a capillary electrophoresis-based (CE) solution provider for complete automated analysis of a range of molecules, in March 2018. Through this acquisition, Agilent Technologies Inc. enhanced its expertise and technology to provide consumers with a more-comprehensive solution.

Geographically, the North American molecular cytogenetics market generated the highest revenue in 2017. This can be attributed to the high prevalence of genetic disorders and cancer, early adoption of technologically enhanced platforms like array technology and next-generation sequencing, and advanced healthcare infrastructure in North America. According to the National Cancer Institute, breast cancer, leukemia, liver cancer, melanoma of the skin, lung and bronchus cancer, bladder cancer, endometrial cancer, non-Hodgkin’s lymphoma, thyroid cancer, colon and re-ctum cancer, and kidney cancer are the most-common types of cancer affecting the U.S. population.

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This release was published on openPR.