Press release
Molecular Cytogenetics: Unlocking Genetic Mysteries
According to The Business Research Company's, The molecular cytogenetics market size has grown rapidly in recent years. It will grow from $2.65 billion in 2023 to $2.93 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to rise in genetic disorders and cancer cases, growing demand for personalized medicine, research and development in life sciences, clinical applications for prenatal and postnatal diagnosis, global initiatives in genomic medicine.
The molecular cytogenetics market size is expected to see strong growth in the next few years. It will grow to $4.24 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to emergence of next-generation sequencing (ngs), increased focus on liquid biopsies, growing application in cancer research, expanding applications in infectious disease diagnosis, rapid growth in genetic testing services. Major trends in the forecast period include next-generation sequencing (ngs) in cytogenetic, automation and high-throughput screening, fluorescence in situ hybridization (fish) advancements, rising application in cancer diagnostics, single-cell analysis.
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Market Drivers and Trends:
The increasing incidence of genetic disorders and cancer is expected to drive the growth of the molecular cytogenetics market going forward. Cancer refers to a disease in which the body's cells grow uncontrollably and spread to other parts of the body. Cytogenetics testing samples of tissue and blood are used for changes in chromosomes, such as broken, missing, or rearranged chromosomes. Changes in certain chromosomes are a sign of a genetic disease, condition, or some types of cancer. Hence, the increasing incidence of genetic disorders and cancer will propel the growth of the market. For instance, according to the American Cancer Society, a US-based nationwide voluntary health organization, by 2040, the global burden is expected to grow to 27.5 million new cancer cases and 16.3 million cancer deaths. Additionally, in 2022, 1,918,030 new cancer cases and 609,360 cancer deaths occurred in the United States, including approximately 350 deaths per day from lung cancer. Therefore, the increasing incidence of genetic disorders and cancer is driving the growth of the molecular cytogenetics market.
Product innovations are a key trend gaining popularity in the molecular cytogenetics market. Major Companies operating in the molecular cytogenetics market are adopting new technologies to strengthen their position in the market. For example, in March 2021, Agilent Technologies Inc, a US-based company that provides instruments, software, services, and consumables for laboratories launched three new microarrays for the needs of cytogenetic laboratories for both prenatal and postnatal research. The Agilent GenetiSure Cyto microarrays have updated, clinically relevant content from the databases. It would provide high-resolution detection of copy number variations, and copy-neutral loss of heterozygosity that have been associated with developmental delay, neuropsychiatric disorders, intellectual disability, and congenital anomalies in constitutional DNA samples.
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Major Key Players of the Market:
Abbott Laboratories; Agilent Technologies Inc; Applied Spectral Imaging; CytoTest Inc; Danaher Corporation; Illumina Inc; PerkinElmer Inc; Thermo Fisher Scientific Inc; Bio-Rad Laboratories Inc; Oxford Gene Technology Limited; Affymetrix Inc; NeoGenomics Laboratories Inc; Quest Diagnostics; F. Hoffmann-La Roche AG; Bi Biological industries; Cytognomix Inc; Empire Genomics LLC.; Genial Genetic Solutions Ltd.; BioChain Institute Inc.; BioGenex Laboratories Inc.; Bio-Techne Corporation; Cytocell Ltd.; Kreatech Diagnostics B.V.; Leica Biosystems Nussloch GmbH; MetaSystems Group Holding GmbH; MolecularMD Corporation; Natera Inc.; Opko Health Inc.; PathGroup Inc.; Roche Diagnostics Corporation; SciGene Corporation; SkylineDx B.V.
Molecular Cytogenetics Market 2024 Key Insights:
• The molecular cytogenetics market will grow to $4.24 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
• Molecular Cytogenetics Market Rides On Rising Genetic Disorder And Cancer Cases
• Agilent Technologies Introduces Advanced Genetisure Cyto Microarrays For Cytogenetic Research
• North America was the largest region in the molecular cytogenetics market in 2023
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