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Global Molecular Cytogenetics Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product, Technique, Application, End-User & Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 3092
Pages: 178
Formats: report pdf report excel report power bi report ppt

Global Molecular Cytogenetics Market Size (2022 to 2027)

The global molecular cytogenetics market size is forecasted to grow USD 34440 Million by 2027 from USD 2088 Million in 2022, registering a CAGR of 10.5% from 2022 to 2027.

Molecular biology and cytogenetics are the two primary fields that are studied under molecular cytogenetics. The study of chromosomes is termed Cytogenetics. Molecular cytogenetics further delves into the analysis of genetic variations and/or alterations through in-situ hybridization techniques.

MARKET DRIVERS:

Growing cases of congenital & genetic disorders, coupled with the subsequent rise in early disease diagnostics, are the primary factors driving the growth of the global molecular cytogenetics market.

The rise in the elderly population and the chronic diseases associated with them are the major factors driving the molecular cytogenetics market. Moreover, due to the increase in the number of cancer cases, the adoption of various molecular cytogenetics techniques for diagnostic purposes increased rapidly, propelling the market. Growing penetration for molecular cytogenetics in clinical pathological testing and the rise in focus on targeted cancer treatment are other factors driving the Molecular Cytogenetics Market.

These highly advanced, high-throughput tools help identify therapeutic targets, for example, oncogenes that are implicated in tumorigenesis, besides determining the presence of chromosomal aberrations for the diagnosis of genetic diseases, thereby driving the growth of this market. In addition, the emergence of rapid testing platforms for the characterization of chromosomal aberrations with very high precision conjoined with the development of highly sensitive diagnostic tools will propel this market's growth.

Genetic disorders claim over 3000 infant lives per year, as per the data published by the Centres for Disease Control and Prevention. Molecular diagnostic techniques such as FISH and CGH are expected to witness high penetration because of such high mortality rates. Next-generation sequencing technology, which enables comprehensive and cost-effective analyses, is another factor contributing to the growth of this market.

MARKET RESTRAINTS:

The high cost associated with molecular cytogenetics testing is acting as the major restrain for the Molecular Cytogenetics Market during the forecast period. For instance, the price of the tests starts from US$ 300 to US$ 3,000 per test, which is considerably high. Moreover, the lack of experienced workers and regulatory frameworks are further hindering the molecular cytogenetics market growth.

MARKET OPPORTUNITIES:

The rise in the technological advancements in molecular cytogenetics tools is estimated to raise the market in the upcoming years. For instance, new techniques like FISH and Comparative Genomic Hybridization (CGH) are used to provide out-and-out information about cancer-related molecular signatures. Next-generation sequencing technology, which enables comprehensive and cost-effective analyses, is another factor contributing to this market's growth. Moreover, the increase in pharmacogenomic activities and the rise in government investments for better treatment are propelling market growth. In addition, the rise in the adoption of molecular cytogenetics testing in emerging nations is boosting the market. The increasing number of cancer cases in Asian countries is estimated to fuel the molecular cytogenetics market in the coming years.

MARKET CHALLENGES:

The lack of predictable coverage and reimbursement policies for new genomic tools is challenging the market growth. Moreover, expensive instruments and the high maintenance cost associated with the advanced techniques are hindering the market. These are the factors that are expected to challenge the molecular cytogenetics market in the forthcoming years.

COVID-19 Impact on the global molecular cytogenetics market:

The COVID 19 is a contagious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The COVID  19 was announced as a pandemic by World Health Organisation (WHO) in March 2020. Almost all the industries have been affected negatively during the lockdown, due to which the global economy was impacted adversely during the pandemic. The molecular cytogenetics market is not an exception. The market has gone through some rough times during the pandemic and has seen a slump in market shares. Due to the lockdown, the factories were shut down, and transportation was stopped, which disturbed the supply chain. Moreover, the advancements in technologies were paused due to a lack of funds during the pandemic. But the molecular cytogenetics market was getting into profits after the lockdown. The key players are trying their best to sustain in the market post covid.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Analysed

By Product, Technique, Application, End User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, Middle East, and Africa

 

This research report on the global molecular cytogenetics market has been segmented and sub-segmented based on the product, technique, application, end-user, and region.

Molecular Cytogenetics Market - By Product:

  • Kits & Reagents
    • Testing Kits
    • Probes
    • Fluorescent Affinity Reagents
    • Other Kits & Reagents
  • Instruments
  • Consumables
  • Software & Services

Molecular Cytogenetics Market - By Technique:

  • Comparative Genomic Hybridization
    • Array-Based Comparative Genomic Hybridization
    • Standard Comparative Genomic Hybridization
  • Fluorescence in Situ Hybridization
  • In Situ Hybridization
  • Others

Based on the technique, the CGH technology category commands the largest market share of approximately 53% and is estimated to retain its leading position during the forecast period. The rising number of applications regarding the detection of complex chromosomal arrangements using multicolor FISH techniques and SNP-array analysis is another contributing factor for the growth of this segment.

Molecular Cytogenetics Market - By Application:

  • Genetic Disorders
  • Cancer
  • Personalized Medicine
  • Other Applications

Based on application, the Cancer application segment was the most significant application category in terms of revenue as per the data of 2020, accounting for over 42% of the overall molecular cytogenetics market.

Molecular Cytogenetics Market - By End User:

  • Clinical & Research Laboratories
  • Academic Research Institutes
  • Pharmaceutical & Biotechnology Companies
  • Others

Molecular Cytogenetics Market - By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

Geographically, North America accounts for the largest market share. The North American market is estimated to be worth USD 650 million in 2021, and by 2026, the market is estimated to reach USD 1060 million and growing at a CAGR of 10.5% during the forecast period. The rise in the number of genetic disorders and the better healthcare infrastructure are driving the market. The high awareness among people is one of the reasons boosting the market. The United States and Canada are the most significant molecular cytogenetics market contributors in North America. The increase in the number of cancer patients in the United States is boosting the market. For instance, as per the American Cancer Society, approximately 1,762,450 new cancer cases were diagnosed, and more than 606,880 cancer deaths were only in the U.S. in the year 2019. Moreover, the implementation of advanced molecular cytogenetic techniques, such as FISH and array-comparative genomic hybridization (array-CGH), for early and appropriate detection of diseases and reducing the mortality rate and the severe consequences associated with genetic disorders.

The European market is the second prominent region after North America. The European Molecular Cytogenetics Market was registered at USD 490 million in 2020, and by 2025, the market is anticipated to reach USD 840 million at a CAGR of 11.5%. The UK is the leading market in this region. Social organizations like Leukemia & Lymphoma Society's funding to develop novel techniques used in cancer diagnosis drive the market. According to WHO, cancer is the second most important cause of death in Europe, with 3.7 million new cases and 1.9 million deaths every year. These are the factors that led the European Molecular Cytogenetics Market in second place.

KEY MARKET PARTICIPANTS:

Companies dominating the global molecular cytogenetics market profiled in this report are Affymetrix, Inc., Agilent Technologies, Inc., Illumina, Inc., Abbott Laboratories, Bio-Rad Laboratories, Inc., Applied Spectral Imaging, Inc., and Thermo Fisher Scientific (Life Technologies), Inc.

RECENT MARKET DEVELOPMENTS:

  • Applied Spectral Imaging (ASI) and KromaTiD, Inc. announced a strategic commercial partnership in April 2021, with ASI distributing KromaTiD's proprietary Pinpoint FISHTM (PPF) probes and test services globally. Researchers worldwide utilize PPF to look for tiny and unique genetic targets in tissues, microarrays, and dissociated cells.
  • In July 2021, Thermo Fisher Scientific, a global leader in science service, will promote and distribute Thermo Scientific MAS Quality Controls and LabLink xL Quality Assurance Software for use VITROS analyzers through a partnership with Ortho Clinical Diagnostics.
  • PPD, Inc., a contract research organization, was acquired by Thermo Fisher in April 2021 for a total cash purchase price of $17.4 billion, including the assumption of about $3.5 billion in net debt. In fiscal 2020, PPD generated $4.7 billion in revenue, valuing the company at around $20.9 billion.
  • Aug-2020, BioTek Instruments, a global pioneer in designing, manufacturing, and distributing revolutionary life science instrumentation, has been acquired by Agilent Technologies Inc. (NYSE: A).
  • January of 2021, Thermo Fisher Scientific has created a new medium for the creation and multiplication of human T lymphocytes for cell therapy developers employing allogeneic processes (T-cells). For allogeneic cell production, Gibco CTS OpTmizer Pro Serum-Free Media (SFM) is a first-of-its-kind media solution that targets the metabolism of healthy donor cells.
  • Agilent Technologies Inc. (NYSE: A) said today that it would expand its cutting-edge manufacturing plant in Frederick, Colorado, which develops and manufactures "oligos," which are tiny DNA and RNA molecules used to create nucleic acid-based medicines.

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