The size of the North America Molecular Cytogenetics Market was worth USD 718.25 million in 2022. It is projected to grow at a CAGR of 10.5% and value USD 1183.28 million by 2027.
The increase in the incidence of genetic abnormalities and cancer is driving the expansion of the North American molecular cytogenetics market in the first place. In addition, increased focus on targeted cancer therapy, an aging population, and an increase in the prevalence of chronic diseases are other significant factors accelerating the market expansion. The ability to scan and analyze the entire genome organization is another primary driver boosting the market for molecular cytogenetics in the North American region. It also entails a high-resolution investigation of genome structure and behavior and visualization of single unusual genetic locations.
Advanced cancer diagnostics such as genomic imaging, epigenetics, and cytology for chromosomal abnormalities are required to keep up with the increased incidences of cancer disease. This is possible because of molecular cytogenetics, which helps to move the market forward further. Over the forecast period, recent advances in molecular biology and cytogenetics are expected to boost the market for Molecular Cytogenetics. There have been significant recent advances in the study of chromosome shape and modification, mitosis and meiosis processes, gene expression and control, gene silencing, and other related topics.
However, the application of molecular cytogenetics in cancer and customized care could be hampered by a lack of reliable coverage and reimbursement rules for emerging genomic techniques. Furthermore, the scarcity of experienced employees and the high cost of maintaining and handling modern procedures impede market growth during the forecast period. The high price of cytogenetic tools, on the other hand, is inhibiting industry growth. In contrast, the North American market is predicted to benefit from fluorescence in situ hybridization to array-based technology.
This research report on the North American molecular cytogenetics market has been segmented and sub-segmented into the following categories:
By End User:
Geographically, North America accounts for the largest market share. It can be attributed to the rising incidences of cancer and an increasing number of genetic disorders. Moreover, it is especially nasty towards the infant population because they are susceptible to environmental factors such as teratogens. Apart from that, the implementation of advanced molecular cytogenetic techniques, such as FISH and array-comparative genomic hybridization (array-CGH), for early and timely detection of diseases and reducing the mortality rate and the grievous consequences associated with genetic disorders.
In North America, the U.S. is predicted to lead, and Canada is forecasted to showcase a healthy growth rate during the forecast period.
KEY MARKET PLAYERS:
Companies playing a prominent role in the North American molecular cytogenetics market profiled in the report are Affymetrix, Inc, Agilent Technologies, Inc, Illumina, Inc, Abbott Laboratories, Bio-Rad Laboratories, Inc, Applied Spectral Imaging, Inc, Thermo Fisher Scientific (Life Technologies), Inc.
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