(IT-NEWSWIRE.COM, June 30, 2020 ) [147 Pages Report] The Molecular Cytogenetics Market is projected to reach USD 2.52 Billion, at a CAGR of 10.1%
The high incidence and large economic burden of genetic disorders and cancer and rise in healthcare expenditure has resulted in the increasing use of molecular cytogenetic products in clinical and research laboratories, academic research institutes, and pharmaceutical and biotechnology companies.
Major Market Developments;
- In January 2014, Roche acquired Genia Technologies, Inc. (U.S.). This acquisition strengthened Roche's Next Generation Sequencing pipeline.
- In February 2015, Roche acquired Signature Diagnostics AG (Germany).
- In January 2016, Thermo Fisher Scientific, Inc. acquired Affymetrix (U.S.). This acquisition strengthened Thermo Fisher Scientific's leadership into bioscience business and create new market opportunities in genetic analysis.
- In July 2016, Thermo Fisher Scientific and HEALTH BioMed (China) collaborated to support HBM’s development of molecular diagnostic kits for infectious diseases and pharmacogenomics screening which will serve the Chinese market.
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Market Segmentation in Detailed:
On the basis of techniques, the molecular cytogenetics market is segmented into comparative genomic hybridization, fluorescence in situ hybridization, in situ hybridization, and other techniques.
Based on applications, the molecular cytogenetics market is segmented into genetic disorders, cancer, personalized medicine, and other applications. The genetic disorders segment is expected to account for the largest share of the global molecular cytogenetics market.
Based on end users, the molecular cytogenetics market is segmented into clinical and research laboratories, academic research institutes, pharmaceutical and biotechnology companies, and others. The clinical and research laboratories segment is expected to account for the largest share of the global molecular cytogenetics market in 2016. Rise in healthcare expenditure has resulted in the increasing diagnosis of genetic disorder and cancer resulting in increasing use of cytogenetic kits and reagents in the above mentioned end users.
Market Growth Drivers:
- Increasing Incidence of Genetic Disorders and Cancer
- 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
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Geographical Regions Mapped in Report:
The global molecular cytogenetics market is segmented into four major regions North America, Europe, Asia, and Rest of the World. Geographically, the global market is dominated by North America. Growth in the North American segment is primarily driven by the high incidence of genetic disorders and cancer, rapid growth in the aging population, and high healthcare expenditure.
Maior Key Players Mapped in Research Report:
Key players in the molecular cytogenetics market include F. Hoffmann-La Roche Ltd. (Switzerland) Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories (US), Agilent Technologies (US), PerkinElmer, Inc. (US), Illumina, Inc. (US), Bio-Rad Laboratories (US), Oxford Gene Technology (UK), and Applied Spectral Imaging (US).
Mr. Aashish Mehra