July 24, 2024
Molecular Cytogenetics Market

Molecular Cytogenetics Market is Expected to be Flourished by Increasing Incidences of Genetic Disorders

Molecular cytogenetics involves the combination of molecular biology and cytogenetics to study human chromosomes. It allows detection of genetic abnormalities at a level not possible using standard cytogenetic techniques. Molecular cytogenetics techniques include fluorescence in situ hybridization (FISH) and comparative genomic hybridization (CGH). FISH makes use of fluorescent probes that bind to only those parts of the chromosome with a high sequence complementarity. Meanwhile, CGH compares genomic differences between two sets of DNA by hybridizing different fluorescent tags. These techniques enable detection of small genetic changes that can help diagnose various genetic disorders.

The global molecular cytogenetics market is estimated to be valued at US$ 4,211.4 Mn in 2023 and is expected to exhibit a CAGR of 24.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The molecular cytogenetics market is expected to be flourished by increasing incidences of genetic disorders worldwide. According to the World Health Organization (WHO), genetic disorders affect 1 in 20 people worldwide with over 7,000 known conditions. Genetic disorders are caused in part due to abnormalities involving structure, number, and arrangement of chromosomes. Adoption of molecular cytogenetics techniques enables detection of chromosomal abnormalities not possible with conventional methods. This is supporting its adoption across hospitals and diagnostic laboratories. Additionally, ongoing research efforts to develop new techniques for genetic analysis will expand capabilities and drive the molecular cytogenetics market growth over the forecast period.

Segment Analysis
The molecular cytogenetics market is segmented into product & services, technology, application, end user, and region. The product & services segment includes kits and reagents, instruments, software & services. Within this segment, kits and reagents are dominating the market owing to wide use of different kits and reagents for various applications including DNA testing, cancer cytogenetics and genetic disorder detection.

PEST Analysis

Political: Government regulations regarding genetic testing and research is positively impacting the market growth. Increasing funding for cancer and genetic disorder related research is also fueling the market.
Economic: Rising healthcare spending capability, growing biotechnology and pharmaceutical industries are driving the economic growth of molecular cytogenetics market.
Social: Increasing incidence of genetic disorders, cancer and infectious diseases and growing awareness about early disease diagnosis is propelling the social demand for molecular cytogenetics.
Technological: Advancements in microarray and sequencing technologies, development of new platforms for analyzing genes and genome at molecular level is facilitating the market growth. Introduction of automation and integration of AI is further supporting the technological development.

Key Takeaways

The global Molecular Cytogenetics Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis indicates that North America will dominate the market owing to well-established healthcare system and growing genomic industry. Europe is also expected to capture a significant market share.

Key players operating in the molecular cytogenetics market are Abbott Laboratories, Affymetrix, Inc., Agilent Technologies, Inc., Applied Spectral Imaging, Inc., BI Biological Industries, Bio-Rad Laboratories, Thermo Fisher Scientific Inc., CytoTest Inc., Cytognomix, Inc., F. Hoffmann-La Roche Ltd., Illumina Inc., Bionano Genomics, Inc., Precipio, Inc. Key players like Abbott Laboratories, Thermo Fisher Scientific and Illumina Inc. hold majority market share owing to their strong product portfolio and global presence.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it