Global Molecular CytogeneticsMarket is expected to reach
nearly USD 3.6 billion by 2022, according to a new report by Grand View
Research, Inc.
Increasing instances of both, chromosomal anomalies
implicated in genetic disorders and cancer, coupled with technological
advancements in the molecular cytogenetic techniques is expected to positively
reinforce the market growth.
Technological advancements in molecular diagnostic
techniques, such as the Fluorescence In-situ Hybridization (FISH) and the
Comparative Genomic Hybridization (CGH) are enabling rapid analysis of patient
data to identify the potential risk factors. Increasing applications of FISH
and CGH in molecular diagnostics are expected to propel the market growth in
the next seven years.
The advent of the genome wide screening technique, the Next
Generation Sequencing (NGS) technology enables the detection of a number of
chromosomal variations in parallel by comparing genomic sequences of patient
and control samples.
The NGS technique empowers the clinicians in taking
therapeutic decisions based on in-depth information regarding an individual’s
genetic profile; and hence, the introduction of such technologies is expected
to positively reinforce the market growth during the forecast period.
Initiatives such as the precision medicine initiative announced by the U.S.
president are expected to further drive the demand for the molecular
cytogenetic tests.
In 2014, the CGH in the technology segment held the maximum
market share of 52% owing to enhanced technical specifications such as high
speed, accuracy, and high resolution images as compared to the FISH technology.
Furthermore, the CGH technology is also expected be the fastest growing segment
with a lucrative CAGR of nearly 26% over the forecast period.
In 2014, the application of molecular cytogenetics in cancer
held the largest market share of over 42%. The high demand for preventive
screening and diagnosis, which significantly aids the early detection of risk
factors that lead to oncogenesis, are amongst the key factors responsible for
the cancer segment’s high share. Cancer was followed by the personal medicine
segment with a market share of over 23%. In conclusion, the cancer segment is
expected to be the fastest growing market with a high CAGR of 24.1% over the
forecast period.
Full Research Report on Global Molecular Cytogenetics
Market Analysis:
http://www.grandviewresearch.com/industry-analysis/molecular-cytogenetics-market
http://www.grandviewresearch.com/industry-analysis/molecular-cytogenetics-market
Further key findings from the study suggest:
- In
2014, North America held the largest market share of 47.6%. The large share
is attributed to the presence of high-tech R&D facilities, well
established manufacturing infrastructure, and active collaborations
between private stakeholders, such as technology companies, research
centers, universities, patients, as well as government agencies such as
the U.S. FDA and CDC that ensure that the new technologies are validated.
- Asia
Pacific is expected to witness lucrative CAGR of nearly 26% in the next
seven years owing to the high unmet medical needs such as the increasing
prevalence of cancer, genetic, and other hereditary diseases.
- Key
factors contributing to the swift growth ar the rapid development in fast
growing Asian economies such as India, China, and others, the increasing
healthcare expenditure to improve R&D activities, rapid proliferation
of advanced diagnostic technologies, and the increasing awareness about
the genetic and molecular screening tests; these crucial factors are
expected to synergistically propel the market growth over the forecast
period.
- The
global molecular cytogenetics market is dominated by players such as
Abbott Laboratories Inc., Illumina, Inc., Agilent Technologies, Inc.,
Applied Spectral Imaging, Inc., PerkinElmer, Inc., Bio-Rad Laboratories,
Inc., F. Hoffmann-La Roche Ltd., and others.
View more reports of
this category by Grand View Research at: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research
has segmented the Global Molecular Cytogenetics Market on the basis of
technology outlook, application outlook, and regional outlook.
Global Molecular Cytogenetics Market, Technology Outlook
(Revenue, USD Million, 2012 - 2022)
- FISH
- CGH
Global Molecular Cytogenetics Market, Technology Outlook
(Revenue, USD Million, 2012 - 2022)
- Genetic
Disorders
- Cancer
- Personalized
Medicine
- Others
Global Molecular Cytogenetics Market, Regional Outlook
(Revenue, USD Million, 2012 - 2022)
- North
America
- Europe
- Asia
Pacific
- RoW
View Press Release of this research report by Grand View
Research: http://www.grandviewresearch.com/press-release/global-molecular-cytogenetics-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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