Molecular Cytogenetics Market Expected to Reach $5.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Molecular Cytogenetics Market," The molecular cytogenetics market size was valued at $2.2 billion in 2021, and is estimated to reach $5.2 billion by 2031, growing at a CAGR of 8.7% from 2022 to 2031.

Molecular cytogenetics includes the chromosome biology and the use of molecular cytogenetic methods in biology and medicine. Molecular cytogenetics can help study the structural and functional organization of the nucleus and the chromosome of the cell, expression, and evolution of genes, genome variation in tumor genetics, and medical genetics. The common techniques involved in molecular cytogenetics include fluorescence in situ hybridization (FISH), comparative genomic hybridization (CGH), and array comparative genomic hybridization (aCGH).

According to the WHO, World Health Organization, genetic disorders and congenital abnormalities occur in about 2%-5% of all live births, and accounts for up to 30% of pediatric hospital admissions in the industrialized countries. Thus, the high prevalence and large economic burden of genetic disorders and cancer and rise in healthcare expenditure has led to the increase in the use of molecular cytogenetic products in the organizations such as clinical and research laboratories, academic research institutes, and pharmaceutical and biotechnology companies, contract research organization, and others.

Furthermore, factors such as the increase in approval rate of the diagnostic procedures related to the molecular cytogenetics in developing regions, high incidence of congenital abnormalities, growing focus of government organizations on providing funding for research, and increasing awareness about the diagnosis and treatment options accelerate the growth of the molecular cytogenetics market trends. The molecular cytogenetics market growth is also anticipated to be facilitated by the introduction of numerous cutting-edge diagnostic technologies by the biotechnology companies, an increase in the demand for accurate diagnosis of serious cancer diseases, and the availability of skilled personnel and pathologist with the necessary training in developed countries.

However, the molecular cytogenetics industry is expected to be significantly constrained in the near future by factors such as high cost of the associated equipment’s and technologies and with the products.

According to the product, consumables segment was the largest segment in the 2021, owing to the increase in the usage of the molecular cytogenetics products in clinical and research laboratories and also due to the rise in the usage of media and reagents. On the other hand, the software and services segment is expected to grow at a fastest CAGR during the forecast period owing to the technological advances in the medical field that combines the information technology and healthcare sector.

By technique, the comparative genomic hybridization holds a dominant portion in the global molecular cytogenetics market in 2021 and is expected to grow at the fastest rate of CAGR during the forecast period, owing to the advantages that the comparative genomic hybridization (CGH) technique offers over other conventional techniques which includes high resolution than others and due to its wide application in the cancer studies.

By application, the genetic disorders segment accounts for the largest share of the global market in 2021, due effective and high usage of molecular cytogenetic techniques for in-depth studies of genetic disorders such as cancer and its management. Furthermore, the personalized medicines segment is expected to grow at the fastest CAGR during the forecast period, due to the wide application of molecular cytogenetics in drug discovery and development, and biomarker discovery.

By end user, the clinical and research laboratories owned the largest share of the market in 2021, because of the adoption for advanced and precise diagnostic tools by pathologist and researchers in the clinical and research laboratories and rise in the number of the pathological testing and is expected to grow at the highest CAGR during the forecast period.

Region wise, North America acquired a major molecular cytogenetics market share, owing to the presence of an effective regulatory framework for the regulation of genetic tests and acquisitions and collaborations by the key market players in this region. However, Asia-Pacific is expected to witness the highest CAGR during the forecast period due to emerging markets in Asia and transition from fish to array-based techniques in this region.

KEY FINDINGS OF THE STUDY

• By product, the consumables segment was the highest contributor to the market in 2021.
• By technique, the comparative genomic hybridization segment was the highest contributor to the market in 2021, and is expected to continue this trend during the forecast period.
• By application, the genetic disorders segment was the highest contributor to the market in 2021, and on the other hand the personalized medicines segment is expected to grow with a highest CAGR during the forecast period.
• Depending on end user, the clinical and research laboratories segment was highest contributor in 2021 and is expected to grow at the fastest CAGR during the forecast period.
• Region wise, North America holds the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.