The molecular cytogenetics market has grown from $469.2 million in 2012 to an estimated $1.9 billion in 2019 due to the success of techniques such as fluorescence in situ hybridization (FISH) and array comparative genomic hybridization (aCGH). The research report scrutinizes the global market and provides a quantitative and qualitative analysis on the various segments.
The report categorizes the overall market on the basis of technology, application and geography. Two main technologies covered are FISH and aCGH. The major areas in which molecular cytogenetics are applied include personalized medicines, cancer, genetic disorders and others. Market size, industry share, forecast, and individual contribution to the global molecular cytogenetics market are provided with respect to every segment. The report helps in understanding the various nuances that make up the industry, the factors that have led to its growth, challenges and hindrances faced, and opportunities for future expansion.
The global molecular cytogenetics market, expected to grow at 23.4% CAGR from 2013-2019, has provided a breakthrough in the fields of research and molecular diagnostics. Earlier restricted to merely identifying chromosome structure, the area of cytogenetics has expanded to assessing structural and functional genetic anomalies. The aCGH technique is currently growing at a CAGR of over 20% compared to FISH technique and is predicted to dominate the market in the forecast period. The main reasons for its rising demand are high resolution, accurate analysis, rapid results and the ability to perform thousands of experiments in a single array, hence saving time and cost.
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The market for molecular cytogenetics is driven by numerous forces such as rising cases of cancer across the world, increased level of public awareness, mounting popularity of personalized medicines, growing per capita spending capacity, higher R&D activities and laboratories, and use of advanced technology in molecular cytogenetics. Region-wise, North America dominates the global market, followed by Europe. Countries in Asia-Pacific have emerged as potential markets owing to factors such as increasing population and the culture of consanguineous marriage which raises the risk of genetic disorders.
The key market players featured and profiled in the molecular cytogenetics market research report include Affymetrix, Inc., Abbott Laboratories, Applied Spectral Imaging, Agilent Technologies, Inc., Leica Biosystems, Oxford Gene Technology, Life Technologies Corporation, Illumina, Inc., Bio-Rad Laboratories, and SciGene Corporation.