Chicago, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Molecular Cytogenetics market in terms of revenue was estimated to be worth $3.1 billion in 2023 and is poised to reach $4.9 billion by 2028, growing at a CAGR of 9.9% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The increasing penetration of molecular cytogenetics in clinical pathological testing is driving the market growth.
In recent years, the molecular cytogenetics market has witnessed the emergence of novel and innovative technologies that are revolutionizing the cancer & genetics diagnosis. The conventional approach for cancer and genetics care involves tedious and slow tests with longer turnaround time. However, novel techniques in are emerging as potential substitutes or complementary strategies in instances where traditional method fails. Additionally, certain innovative methodologies, such as the comparative genomic hybridization, have the capability to accurately pinpoint various cancer and genetics conditions.
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Molecular Cytogenetics Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $3.1 billion |
| Estimated Value by 2028 | $4.9 billion |
| Growth Rate | Poised to grow at a CAGR of 9.9% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, technique, application, end user, and region |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Untapped emerging markets |
| Key Market Driver | Increasing incidence of cancer and genetic disorders |
Based on products, the global molecular cytogenetics market is segmented into four segments, namely, kits & reagents, instruments, consumables and software & services. In 2022, the kits & reagents segment dominated the molecular cytogenetics market. The significant growth of this segment can be attributed to the rising focus on R&D and product launches.
Based on techniques, the global molecular cytogenetics market is segmented into four segments, comparative genomic hybridization, fluorescence in-situ hybridization, chromogenic in-situ hybridization and other techniques. In 2022, the comparative genomic hybridization segment dominated the molecular cytogenetics market. The significant growth of this segment can be attributed to the rising focus on adoption of array-based techniques for cancer diagnosis and research.
Based on Application, the molecular cytogenetics market is segmented into genetic disorders, cancer, personalized medicine and other applications. In 2022, cancer segment dominated the molecular cytogenetics market. There is an increase in incidence of cancer worldwide, contributiong to the higher market share.
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 dominated the molecular cytogenetics market. The higher market share is attributed to the increasing rearch on cancer and increasing focus on personalized medicine.
The global molecular cytogenetics market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. During the forecast period, the Asia Pacific market is estimated to experience the highest CAGR. Many countries in the Asia Pacific region, including China, Japan, and India, have been experiencing steady growth in healthcare expenditure. Growth in this market can be attributed to the increasing prevalence of chronic conditions such as cancer, the growing per capita income, the expansion of research in various APAC countries, and the presence of high-growth markets in the region.
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Molecular Cytogenetics market major players covered in the report, such as:
- Thermo Fisher Scientific Inc. (US)
- Illumina Inc. (US)
- Danaher Corporation (US)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Revvity (US)
- Abbott Laboratories (US)
- Agilent Technologies, Inc. (US)
- Pacific Biosciences (US)
- Bio-Rad Laboratories, Inc. (US)
- Bio-Techne Corporation (US)
- GeneDx (US)
- Oncocyte Corporation (US)
- BioView (Israel)
- Oxford Gene Technology IP, Limited. (UK)
- Applied Spectral Imaging, Inc. (US)
- Cyto-Test Inc. (US)
- KromaTiD, Inc. (US)
- Genial Genetic Solutions, Ltd. (UK)
- Cytognomix, Inc. (Canada)
- MetaSystems (Germany)
- SciGene (US)
- Biomodal (UK)
- Biocare Medical (US)
- BioDot (US)
- OncoDNA (Belgium)
- and Among Others
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This report categorizes the advanced wound care market based on product, technique, application, end user, and region:
By Product
- Kits & Reagents
- Testing Kits
- Probes
- Fluorescent Affinity Reagents
- Other Kits & Reagents
- Instruments
- Consumables
- Software & Services
By Technique
- Comparative Genomic Hybridization
- Array-Based Comparative Genomic Hybridization
- Standard Comparative Genomic Hybridization
- Fluorescence In-Situ Hybridization
- Chromogenic In-Situ Hybridization
- Other Techniques
By Application
- Genetic Disorders
- Cancer
- Personailzed Medicine
- Other Applications
By End User
- Clinical & Research Laboratories
- Academic Research Institutes
- Pharmaceutical & Biotechnology Companies
- Other End Users
By Region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
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Key Market Stakeholders:
- Manufacturers of cytogenetics reagents, kits, and analyzers
- Vendors and distributors of cytogenetics reagents and kits
- Clinical and research laboratories
- Pharmaceutical and biotechnological companies
- Academic research institutes related to molecular cytogenetics studies
- Venture capitalists and investors
- Research and consulting firms
Report Objectives:
- To define, describe, segment, and forecast the global molecular cytogenetics market by product, technique, application, end user, and region
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall molecular cytogenetics market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze company developments such as product launches, agreements, partnerships, and acquisitions in the global molecular cytogenetics market
- To benchmark players within the market using the proprietary "Competitive Leadership Mapping" framework, which analyzes market players on various parameters within the broad categories of business and product strategy
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