Molecular Cytogenetics is Estimated to Witness High Growth Owing to Rising Prevalence of Genetic Disorders
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Molecular Cytogenetics Market |
Molecular cytogenetics is a branch of cytogenetics that utilizes molecular biology techniques such as fluorescence in situ hybridization (FISH) and polymerase chain reaction (PCR) to identify and locate genes and chromosomal features to diagnose genetic abnormalities at a molecular level. It is widely used for the detection of genetic diseases and cancers. It helps in timely detection and prognosis of genetic diseases and tailoring personalized treatment plans.
The global molecular cytogenetics market is estimated to be valued at
US$ 4,211.4 Mn in 2023 and is expected to exhibit a CAGR of 24.5% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Dynamics:
The rising prevalence of genetic disorders attributed to changing lifestyle
patterns is a key driver boosting the growth of the global molecular
cytogenetics market over the forecast period. As per CDC estimates, over 4,000
rare disorders affect over 350 million people worldwide. Additionally,
increasing investments in genomics and precision medicine is also fueling the
adoptions of molecular cytogenetics tests for early and accurate diagnosis.
Furthermore, increasing R&D activities in the field of cancer genomics to
develop novel cytogenetic tests and biomarkers will bolster the growth of the
market.
SWOT Analysis
Strength: Molecular cytogenetics offers high-resolution methods to detect genetic
abnormalities at the chromosome level. It helps in better diagnosis of genetic
disorders, cancer profiling and prenatal testing. Techniques like FISH and SKY
provide visualization of chromosome abnormalities with high sensitivity and
specificity. Furthermore, advancements in molecular cytogenetics techniques and
platforms are improving disease diagnosis and prognosis determination.
Weakness: Molecular cytogenetics techniques require specialized equipment,
expertise and longer turnaround times for complex testing. High costs involved
in setting up core laboratories for Molecular cytogenetics limits its adoption.
Interpretation of complex chromosomal rearrangements through molecular tools
still remains challenging.
Opportunity: Growing incidence of genetic disorders, cancer and rising focus on
precision medicine is driving the demand for advanced diagnostics. Expanding
applications of molecular cytogenetics in research and clinical practice
presents significant growth opportunities. Developing countries provide scope
to enhance penetration of molecular cytogenetics services.
Threats: Precision diagnostic methods like NGS based genome/exome sequencing
are emerging as alternatives to molecular cytogenetics techniques. Competition
from emerging low-cost POC testing devices poses threats. Stringent regulatory
approvals and reimbursement challenges also impact market growth.
Key Takeaways
The global Molecular
Cytogenetics Market Demand is expected to witness high growth driven by
growing incidence of genetic disorders, cancer and expansion of applications in
research and clinical settings. Molecular cytogenetics provides high resolution
detection of genetic abnormalities compared to conventional cytogenetics
techniques, aiding in better diagnoses.
Regional analysis: North America currently dominates the market owing to
advancements in molecular technology platforms, availability of skilled
workforce and favorable reimbursement policies. Asia Pacific is expected to
emerge as the fastest growing regional market during the forecast period
supported by expanding health infrastructures, large patient pools and focus on
precision medicines particularly in China, India and Japan.
Key players: Key players operating in the Molecular Cytogenetics market are
Abbott Laboratories, Affymetrix, Inc., Agilent Technologies, Inc., Applied
Spectral Imaging, Inc., BI Biological Industries, Bio-Rad Laboratories, Thermo
Fisher Scientific Inc., CytoTest Inc., Cytognomix, Inc., F. Hoffmann-La Roche
Ltd., Illumina Inc., Bionano Genomics, Inc., Precipio, Inc., and Leica
Biosystems. These players are focusing on new product launches, collaborations
and geographic expansions to strengthen their market position.
Get more insights on this topic: https://www.ukwebwire.com/molecular-cytogenetics-market-demand-share-analysis/
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