Molecular cytogenetics involves every aspect of chromosome biology and the application of this technique in all areas of medicine and biology, including functional and structural organization of the nucleus and chromosomes, expression and evolution, chromosome abnormalities in tumor genetics and medical genetics, and genome variation. This branch of science uses technologies like karyotyping, immunohistochemistry (IHC), fluorescence in situ hybridization (FISH), and comparative genomic hybridization (CGH) to detect various chromosomal and genetic aberrations. These techniques are used for the construction of molecular, genetic, comparative, and physical maps.
The market generated revenue of $1.8 billion in 2017, and it is projected to reach $3.3 billion by 2023. Moreover, an increase in the cancer research activities will facilitate the market growth in the foreseeable future, as researchers are using CGH and FISH to gain critical information about cancer-related molecular signatures.
Currently, a surge in the mergers and acquisitions among key players like Agilent Technologies Inc., NeoGenomics Inc., Danaher Corporation, Bio-Rad Laboratories Inc., Abbott Laboratories, PerkinElmer Inc., Illumina Inc., and F. Hoffmann La-Roche AG is being witnessed. For instance, Agilent Technologies Inc. acquired Advanced Analytical Technologies Inc., a capillary electrophoresis-based (CE) solution provider for complete automated analysis of a range of molecules, in March 2018. Through this acquisition, Agilent Technologies Inc. enhanced its expertise and technology to provide consumers with a more-comprehensive solution.
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According to P&S Intelligence, the Asia-Pacific (APAC) region will exhibit the fastest growth in the usage of molecular cytogenetics techniques in the foreseeable future, due to the vast population, unmet need for cancer diagnosis and treatment, and entry of global pharmaceutical and biotechnology companies providing cytogenetic testing in the region. As per the World Health Organization (WHO), “Approximately 70% of deaths from cancer occur in low- and middle-income countries.” Moreover, the escalating healthcare spending and advancing healthcare system will accelerate the adoption of molecular cytogenetic techniques.
Thus, the rising number of cancer cases will fuel the adoption of molecular cytogenetics techniques for diagnosis and treatment purposes in the coming years.
This study covers
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings