The molecular cytogenetics deals with all aspects of chromosome biology with a wide range of applications in disease diagnosis and chromosomal abnormalities. The growing prevalence of cancer and genetic disorders patients has a direct rising impact on the increased demand of the molecular cytogenetic market. According to the World Health Organization (WHO), cancer is the second most important cause of death and morbidity in Europe, with more than 3.7 million new cases and 1.9 million deaths each year, with tobacco and excessive alcohol consumption being the primary reasons. The genetic data accumulated each day are closely associated with the diagnosis and prognosis of neoplasm, thus widening the scope of cancer cytogenetics in various practices. Genetic diseases and their connections with brain disorders, such as Down syndrome, Edwards’s syndrome, Patau syndrome, and Turner syndrome are among the few prominent diseases that have several applications in molecular cytogenetics. Thus, with the increasing prevalence of cancers and genetic diseases, the demand for molecular cytogenetics is expected to register significant rise in the forecast years.
Key Market Trends
Cancer Segment is Expected to Show Better Growth over the Forecast Period
Based on application, it is segmented into cancer, genetic disorders and other applications. Molecular cytogenetics has played an important role in rapid and precise characterization of cancer chromosome abnormalities. Oncology deals with the diagnosis and treatment of tumors and cancers. Cancer is one of the leading causes of morbidity and mortality. Among both sexes, lung, breast, and colorectal cancers are among the most common cancers in the world, with lung cancer alone contributing to more than 13% of the total cases diagnosed. Thus, with the increasing burden of cancer, the demand for diagnosis is increasing, resulting in the high growth of the studied market.
North America is Expected to Dominate the Molecular Cytogenetics Market
The molecular cytogenetics market dominate the North America region due to better healthcare infrastructure, effective government policies, huge base of multinational companies, and high awareness among people. Molecular cytogenetics tests are covered under the National Insurance Policy, in Medicare. The major focus has been on the Centers for Medicare and Medicaid Services. Furthermore, growing geriatric population, along with increasing demand for in-vitro diagnostics testing for the detection of various chronic diseases is expected to drive the market over the forecast period.
The global players into the molecular cytogenetics market are Abbott Laboratories, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., F.Hoffmann-La Roche Ltd., Illumina, Inc., Oxford Gene Technology, PerkinElmer Inc, Quest Diagnostics and Thermo Fisher Scientific.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support