Molecular Cytogenetics Market To Reach US$ 11,129.1 Million By 2027


Posted July 15, 2021 by SANJAYCMI

Molecular Cytogenetics Market Report- 2026 Analyses competitive environment such as key players, future trends, growths, challenges and acquisitions in the market.

 
Cytogenetics techniques are changing from black and white to color. Traditional black and white techniques were associated with the difficulty of resolution and accuracy that were overcome with the introduction of FISH and aCGH. Molecular cytogenetic techniques such as FISH and aCGH are used for identifying complex chromosomal rearrangements.

Statistics:

The global Molecular Cytogenetics Market is estimated to account for US$ 1,970.8 Mn in terms of value by the end of 2019.

Global Molecular Cytogenetics Market: Drivers

Approval and launch of new products is expected to propel growth of the global molecular cytogenetics market over the forecast period. For instance, in January 2019, Applied Spectral Imaging launched updated products portfolio that included a new imaging methodology that is based on an all-new algorithm coupled with advanced hardware components to increase the scanning speed for fluorescence in situ hybridization (FISH) imaging.

Global Molecular Cytogenetics Market: Opportunities

Advent in Next Generation Sequencing (NGS) is expected to offer lucrative growth opportunities for players in the global molecular cytogenetics market. For instance, in October 2019, Illumina, Inc. partnered with QIAGEN N.V. to broaden the availability and use of NGS-based in-vitro diagnostic kits, including companion diagnostics, for patient management.

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Global Molecular Cytogenetics Market: Restraints

Low adoption of molecular cytogenetics in emerging economies is expected to hinder growth of global molecular cytogenetics market.

Key Takeaways:

The global molecular cytogenetics market was valued at US$ 1,970.8 Mn in 2019 and is forecast to reach a value of US$ 11,129.1 Mn by 2027 at a CAGR of 24.2% between 2020 and 2027. Approval and launch of new products is expected to propel growth of the global molecular cytogenetics market over the forecast period.

aCGH segment held dominant position in the global molecular cytogenetics market in 2019, accounting for 64.0% share in terms of value, increasing prevalence of cancer is expected to propel the segment growth during the forecast period.

Market Trends

High prevalence of genetic disorders is expected to propel growth of the global molecular cytogenetics market. For instance, according to Summary of the Cystic Fibrosis Foundation Patient Registry, 2003–2018, the number of people with cystic fibrosis increased from 21,421 in 2003 to 30,775 in 2018.

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Major players in the global molecular cytogenetics market are focused on adopting partnership strategies to enhance their market share. For instance, in April 2018, Precipio, Inc., a specialty diagnostics company, announced that the company is in active licensing discussions with several potential partners regarding IV-Cell, Precipio’s proprietary cytogenetics media.

Global Molecular Cytogenetics Market: Competitive Landscape

Major players operating in the global molecular cytogenetics market include, Abbott Laboratories, Affymetrix, Inc., Agilent Technologies, Inc., Applied Spectral Imaging, Inc., BI Biological Industries, Bio-Rad Laboratories, CytoTest Inc., Cytognomix, Inc., F. Hoffmann-La Roche Ltd., Illumina Inc., Bionano Genomics, Inc., Precipio, Inc., and Leica Biosystems.

Global Molecular Cytogenetics Market: Key Developments

Major players in the global molecular cytogenetics market are focused on launching new products to expand their product portfolio. For instance, in March 2019, Bionano Genomics, Inc. launched multiple new products and advancements for its Saphyr workflow that massively improve throughput, significantly speed up sample prep and allow for the detection of low-allele frequency structural variants at the 2019 Advances in Genome Biology and Technology (AGBT) meeting.

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Last Updated July 15, 2021