Molecular Cytogenetics is Estimated to Witness High Growth Owing to Rising Prevalence of Genetic Disorders

 

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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