Dublin, May 13, 2024 (GLOBE NEWSWIRE) -- The "Global Molecular Cytogenetics Market by Product (Kits, Reagents, Probes, Instrument, Software, Services), Technique (FISH, CISH, Comparative Genomic Hybridization (Array-based, Standard)), Application (Cancer, Genetics Disorders) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global molecular cytogenetics market is valued at an estimated USD 3.1 billion in 2023 and is projected to reach USD 4.9 billion by 2028, at a CAGR of 9.9% during the forecast period.
Increasing in the incidence of chronic diseases like cancer and genetic diseases has lead to the increase in prevalence of the diagnosis of the diseases at earlier stage and diagnosis of the core cause of disease. Urgent and timely treatment is required to manage these patients. The overall increase in the number of research and diagnostic procedures is leading to the increased adoption of molecular cytogenetics in order to ensure the accurate diagnosis of the diseases. This is driving the overall growth of the market. 
Kits & Reagents segment accounted for the highest growth rate in the molecular cytogenetics market, by product, during the forecast period
The molecular cytogenetics market is bifurcated into kits & reagents, instruments, consumables and software & services on the basis of product. The kits & reagents segment in the molecular cytogenetics market is experiencing substantial growth, largely driven by the increasing incidence of diseases such as cancers and increasing focus on personalized medicines.
Comparative genomic hybridization segment accounted for the highest growth rate in the molecular cytogenetics market, by technique, during the forecast period
The molecular cytogenetics market is bifurcated into comparative genomic hybridization, fluorescence in-situ hybridization, chromogenic in-situ hybridization and other techniques on the basis of technique. The comparative genomic hybridization segment in the molecular cytogenetics market is experiencing substantial growth, largely driven by the increasing penetration of molecular cytogenetics in clinical pathology and research.
Cancer segment accounted for the highest growth rate in the molecular cytogenetics market, by applications, during the forecast period
The global molecular cytogenetics market is bifurcated into genetic disorders, cancer, personalized medicine and other applications. The cancer segment is currently witnessing the highest growth rate within the molecular cytogenetics market. The rising geriatric population and rising incidence of cancer due to genetic changes are the major factors driving this segment's growth.
Clinical & research laboratories segment accounted for the highest CAGR
Based on end users, the molecular cytogenetics market is segmented into clinical & research laboratories, academic research institutes, pharmaceutical & biotechnology companies and other end users. In 2022, the clinical & research laboratories segment accounted for the highest growth rate. This can be attributed to the increased demand for advanced cytogenetics products for disease diagnosis.
Asia Pacific: The fastest-growing region molecular cytogenetics market
The global molecular cytogenetics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Anticipated growth in this region will primarily focus on China and Japan. Factors such as a growing elderly population, rising cancer prevalence, increased healthcare expenditures, higher per capita income, escalating demand for advanced technology, the expansion of private healthcare sectors across several APAC nations, and the existence of rapidly developing markets are steering the market's growth in this region.
The report provides insights on the following pointers:
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the molecular cytogenetics market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the molecular cytogenetics market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the molecular cytogenetics market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Agilent Technologies, Inc. (US), Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), among others in the molecular cytogenetics market strategies.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 235 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $3.1 Billion |
| Forecasted Market Value (USD) by 2028 | $4.9 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Premium Insights
- Rising Prevalence of Cancer and Genetic Disorders to Drive Market
- Kits & Reagents to Continue to Dominate Market in 2028
- Comparative Genomic Hybridization to Continue to Dominate Molecular Cytogenetics Market in 2028
- Cancer Will Continue to Dominate Molecular Cytogenetics Market in 2028
- Clinical & Research Laboratories Segment to Dominate Market During Forecast Period
- Asia-Pacific to Register Highest Growth Rate in Molecular Cytogenetics Market During Forecast Period
Market Dynamics
- Drivers
- Increasing Incidence of Cancer and Genetic Disorders
- Growing Focus on Targeted Cancer Treatment
- Increasing Aging Population and Subsequent Rise in Prevalence of Chronic Diseases
- Increasing Penetration of Molecular Cytogenetics in Clinical Pathological Testing
- Restraints
- High Cost of Advanced Instruments
- Unfavorable Reimbursement Scenario
- Opportunities
- Untapped Emerging Markets
- Challenges
- Transition from Fish to Array-based Techniques
Case Study Analysis
- Cytogenetic Analysis of Wiskott-Aldrich Syndrome
Companies Profiled
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Agilent Technologies, Inc.
- Abbott Laboratories
- Thermo Fisher Scientific, Inc.
- Illumina Inc.
- Revvity
- Pacific Biosciences
- Bio-Rad Laboratories, Inc.
- Bio-Techne Corporation
- Genedx
- Oncocyte Corporation
- Bioview
- Oxford Gene Technology IP Limited (Part of Sysmex)
- Applied Spectral Imaging, Inc.
- Cytotest Inc.
- Kromatid, Inc.
- Genial Genetic Solutions Ltd.
- Cytognomix, Inc.
- Metasystems
- Scigene
- Biomodal
- Biocare Medical
- Biodot
- Oncodna
For more information about this report visit https://www.researchandmarkets.com/r/mtp0x8
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