Molecular Cytogenetics Market is Expected to Surpass increasing prevalence of genetic disorders, rising demand for personalized medicine, advancements in molecular cytogenetics technology Help the Market to Reach New Heights
SkyQuest’s Molecular Cytogenetics market report is excellent information for individuals interested in gaining insight into the valuable data, trends, and opportunities in a rapidly growing industry. Additionally, the report is written clearly and concisely, making it accessible to various audiences, from industry experts to market readers. Finally, one can gain an in-depth understanding of the primary and secondary market drivers, providing them with a comprehensive outlook of the current market situation and future projections.
Westford, USA,, April 06, 2023 (GLOBE NEWSWIRE) — The Molecular Cytogenetics market is experiencing significant growth and is projected to reach USD 5.39 billion by 2030, with a CAGR of 10.47% during the forecast period (2022-2030). The increasing prevalence of genetic disorders, rising demand for personalized medicine, advancements in molecular cytogenetics technology, growing investment in research and development, and adoption of molecular cytogenetics in cancer research are driving the market’s expansion. The World Health Organization (WHO) has reported that genetic disorders affect around 10% of the global population, with conditions like Down syndrome, cystic fibrosis, and Huntington’s disease being prevalent. The demand for molecular cytogenetics testing is therefore increasing to detect and diagnose these conditions.
SkyQuest’s latest global research indicates that the demand for personalized medicine in cancer treatment is driving the adoption of molecular cytogenetics techniques, such as next-generation sequencing (NGS) and polymerase chain reaction (PCR), in cancer research. The report predicts that the use of NGS in cancer research will grow at a CAGR of 15.9% from 2021 to 2028, as it can identify genetic mutations and chromosomal abnormalities linked to cancer. The market also witnesses significant investment in research and development activities to develop new molecular cytogenetics techniques and products. For instance, in March 2021, the National Institute of Health (NIH) invested $90 million in genomics and molecular cytogenetics research.
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Browse in-depth TOC on “Molecular Cytogenetics Market”
- Pages – 242
- Tables – 118
- Figures – 69
In modern times, molecular cytogenetics plays a critical role in identifying genetic mutations and chromosomal abnormalities linked with numerous diseases, such as cancer. The technique facilitates precise diagnosis, personalized treatment, and the development of targeted drugs. With the continuous technological advancement and ongoing research, molecular cytogenetics has become an essential tool in comprehending the genetic foundation of illnesses and producing specialized therapies.
Prominent Players in Molecular Cytogenetics Market
- Abbott Laboratories
- Agilent Technologies Inc.
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- F. Hoffmann-La Roche AG
- Illumina, Inc.
- Koninklijke Philips NV.
- Laboratory Corporation of America Holdings (LabCorp)
- Leica Biosystems Nussloch GmbH (Danaher Corporation)
- Luminex Corporation
- Oxford Gene Technology (Sysmex Corporation)
- PerkinElmer Inc.
- Quest Diagnostics Inc.
- Thermo Fisher Scientific Inc.
- Bio-Techne Corporation
- Creative Biolabs
- CytoTest Inc.
- Empire Genomics LLC
- MetaSystems GmbH
- Natera, Inc.
Cancer Diagnosis Segment to Drive Higher Sales due to the Increasing Prevalence of Cancer Worldwide
A recent analysis revealed that the Cancer Diagnosis segment played a significant role in driving the rapid growth of the Molecular Cytogenetics market in 2021. Experts predict that this trend will continue from 2022 to 2030 as the prevalence of cancer worldwide increases, and molecular cytogenetics techniques like FISH and CGH gain more popularity in cancer research and diagnosis. According to the SkyQuest report, molecular cytogenetics techniques are growing in cancer diagnosis and research, and the FISH market is projected to reach USD 1.3 billion by 2025, with a CAGR of 6.2%.
According to research analysis, North America is expected to become a dominant player in the Molecular Cytogenetics market from 2022 to 2030. SkyQuest’s projections indicate that the region will experience a CAGR of 12.82% during the forecast period. The expansion in the region is being propelled by factors such as the increasing incidence of cancer and genetic disorders, well-established healthcare infrastructure, and the high adoption of advanced molecular cytogenetics technologies. Recently, a team of researchers from the University of California, San Francisco, made a groundbreaking discovery by developing a new molecular cytogenetics technique to identify chromosomal abnormalities associated with cancer in single cells. This breakthrough in single-cell molecular cytogenetics is expected to result in more precise cancer diagnosis and treatment in the region.
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Instruments Type Segment to Exhibit Strong Growth Due to Rising Utilization of Advanced Molecular Cytogenetics Instruments like NGS Platforms and PCR Machines
In 2021, the Instruments Type segment took the lead in the Molecular Cytogenetics market and is predicted to maintain its dominance from 2022 to 2030. The growth of this segment can be attributed to the rising utilization of advanced molecular cytogenetics instruments like NGS platforms and PCR machines. According to the SkyQuest report, the adoption of NGS in cancer diagnosis and treatment led to a 38% rise in the detection of actionable mutations, which can be targeted with specific therapies.
The Asia Pacific region has emerged as a significant force in the Molecular Cytogenetics market and is expected to maintain its leading position by 2030. SkyQuest has projected a significant growth rate of 15.97% during the forecast period for the Asia Pacific region in the Molecular Cytogenetics market. The expansion in the region can be attributed to the increasing incidence of cancer and genetic disorders, as well as the growing demand for personalized medicine and targeted therapies. A recent study published in “BMC Cancer” highlighted the rising use of NGS-based molecular cytogenetics techniques in cancer diagnosis and treatment in India. The study observed that adopting these techniques has resulted in more accurate diagnoses and personalized treatment options for cancer patients in the country.
A comprehensive analysis of the major players in the Molecular Cytogenetics market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in Molecular Cytogenetics Market
- Agilent Technologies Inc. has recently acquired Polymer Standards Service GmbH (PSS), a company that offers solutions related to polymer characterization. PSS is known for its expertise in providing hardware and software solutions that help define the composition and development of molecular structures. The company offers comprehensive solutions for gel permeation chromatography (GPC) and size exclusion chromatography (SEC), which are widely used in various applications for determining macromolecule size distribution and molecular weight.
- Agilent Technologies Inc., a well-known player in the genomics technology industry, has recently announced its plan to enhance the processing speed of variant calling workflows on its cloud-native Alissa Reporter software. To achieve this, the company will be utilizing Amazon Elastic Compute Cloud (Amazon EC2) G5g instances powered by Amazon Web Services (AWS) Graviton2 processors and equipped with NVIDIA T4G Tensor Core GPUs. Additionally, the advanced genomics analysis capabilities offered by NVIDIA Clara Parabricks will also be utilized to improve the processing speed further. This move is expected to significantly enhance the overall efficiency of variant calling workflows, which is crucial in genomics research and analysis.
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