Cytogenetics Market to be Worth $5.5 Billion by 2031

Meticulous Research®-a leading market research company, published a research report titled, 'Cytogenetics Market Size, Share, Forecast, & Trends Analysis by Offering (Consumables, Instruments, Software, Services), Technique (Comparative Genomic Hybridization, FISH, Karyotyping), Application (Clinical, Research), End User - Global Forecast to 2031' According to this latest publication from Meticulous Research®, the cytogenetics market is projected to reach $5.5 billion by 2031, at a CAGR of 9.6% from 2024 to 2031.

The growth of cytogenetics market is driven by increasing focus on preventive healthcare measures, prevalence of genetic abnormalities, increasing aging population and subsequent increase in various chronic diseases, growing need to reduce mounting healthcare cost, and increasing focus on research and clinical diagnosis. However, market growth is restrained by the lack of awareness about emerging diagnostic technologies, unfavorable reimbursement scenarios, and technical limitations and complexities of the equipment.

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Moreover, emerging economies: China, India, South Korea, and Southeast Asia, increasing focus on target-based therapies, and increase in predictive and presymptomatic genetic testing are expected to generate growth opportunities for market stakeholders. Concerns regarding the security & privacy of genetic data, commercialization and scaling of genomic technologies, and lack of standardized approaches in genetics pose challenges to the growth of the market.

Key Player

The key players profiled in the cytogenetics market report are Thermo Fisher Scientific, Inc. (U.S.), Abbott Laboratories (U.S.), Agilent Technologies, Inc. (U.S.), Revvity, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Applied Spectral Imaging, Inc. (U.S.), Quest Diagnostics Incorporated (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (U.S.), Illumina, Inc. (U.S.), and Sysmex Corporation (Japan).

The cytogenetics market is segmented by Offering (Consumables [Kits & Reagents {Testing Kits, Probes, and Other Reagents} and Other Consumables], Instruments, Software, Services), Technique (Comparative Genomic Hybridization, Fluorescence In Situ Hybridization (FISH), Karyotyping, Other Techniques), Application (Clinical Applications [Prenatal & Genetic Testing, Oncology, and Other Clinical Applications] and Research Applications), End User (Clinical & Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Research & Academic Institutes, and Other End Users), and geography. The study also includes an analysis of the regional and country-level markets.

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Among the offerings studied in this report, in 2024, the consumables segment is anticipated to dominate the cytogenetics market with a share of 63.7%. The large market share of this segment is attributed to factors such as the repeated use of reagents and kits and the development of user-friendly kits. Kits & reagents are critical for accurate & faster genetic testing analysis. Advancements in test kits and reagents enable laboratories to perform multiple tests simultaneously. Additionally, the rising prevalence of genetic diseases primarily drives the growth of the segment. An increase in genetic diseases triggers the demand for chromosomal testing and genetic tests, fueling the demand for consumables and reagents. These are the factors attributed to the largest share of the segment.

Among the techniques studied in this report, in 2024, the comparative genomic hybridization segment is anticipated to dominate the cytogenetics market. Comparative genomic hybridization simplifies several procedures for cytogenetics study, including those related to prenatal diagnostics, tumor research, the identification of hereditary diseases, and population genetics studies. It has applications in standardizing protocols, automating systems, and enhancing the accuracy of clinical assessments. Moreover, rising research and development activities in genetics study contributes to the growth of segments. Array-based comparative genomic hybridization (a-CGH) is widely used to study copy number variations at multiple loci simultaneously, making it an essential tool for investigating cancer and developmental disorders and identifying potential diagnostic and therapeutic targets. These factors are attributed to the largest share of the segment.

Among the applications studied in this report, in 2024, the clinical application segment is anticipated to dominate the cytogenetics market. Whole genome sequencing (WGS) and whole exome sequencing (WES) are widely used for diagnostic purposes in medical genetics. Cytogenetic techniques are widely used in various diagnostic applications, including oncology, chronic disease testing, and newborn screening. In oncology, cytogenetics plays a key role in identifying specific genetic mutations or chromosomal alterations that are linked to cancer development and progression. This increases the demand for clinical applications in the market. Additionally, genome diagnostic laboratories offer a range of molecular genetics and cytogenetic diagnostic tests, including prenatal and postnatal karyotyping, gene-panel exomes, whole genome sequencing, and single-gene sequencing. Which also drives the growth of clinical laboratories in the market.

Among the end users studied in this report, in 2024, the clinical & diagnostic laboratories segment is anticipated to dominate the cytogenetics market. The rising demand for clinical applications in the market leads to the growth of the clinical & diagnostic laboratories segment. These laboratories generally receive patient samples from hospitals, clinics, and other healthcare facilities. While most hospitals try to perform tests in-house, reference laboratories are used for specialized tests that are ordered occasionally or require specialized equipment. Moreover, the increasing number of diagnostics laboratories also contributes to the growth of segment. For instance, In February 2022, a genomic laboratory was established for cancer screening at the Homi Bhabha Cancer Hospital and Research Center (India).

Among geographies, in 2024, North America is anticipated to dominate the cytogenetics market with a share of 45.8%. The high R&D spending by pharmaceutical & biotechnology companies on drug development and biomarker identification, increasing cases of genetic diseases, and growing awareness about early diagnosis of genetic disorders are the major driving factor to the largest share of the region. High healthcare expenditure has enabled access to advanced medical diagnostics and treatments in the region. North America's per capita health expenditure increased to USD 11,818.37 in 2022 from USD 11,119.1 in 2021. Also, the R&D spending of pharmaceutical companies in this region is high. Additionally, the presence of key market players in the region drives the growth of region. Thermo Fisher Scientific, Inc. (U.S.), Abbott Laboratories (U.S.), Agilent Technologies, Inc. (U.S.), Revvity, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Applied Spectral Imaging, Inc. (U.S.), and Quest Diagnostics Incorporated (U.S.) are some of the major key players in the market.

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Key questions answered in the report-

Which are the high-growth market segments in terms of offering, technique, application, end user, and geography?
What was the historical market size for cytogenetics across the globe?
What are the market forecasts and estimates for the period of 2024-2031?
What are the major drivers, restraints, opportunities, and challenges in the cytogenetics market?
Who are the major players operating in the cytogenetics market?
What is the competitive landscape like, and who are the leaders in the cytogenetics market?
What are the recent developments in the cytogenetics market?
What are the different strategies adopted by the major players in the cytogenetics market?
What are the geographical trends and high-growth regions/countries?

Related Report:

Molecular Cytogenetics Market : https://www.meticulousresearch.com/product/molecular-cytogenetics-market-3067

North America Molecular Diagnostics Market: https://www.meticulousresearch.com/product/north-america-molecular-diagnostics-market-5642

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