Molecular Cytogenetics Market by Product (Kits, Reagents, Probes, Instrument, Software, Services), Technique (FISH, CISH, Comparative Genomic Hybridization (Array-based, Standard)), Application (Cancer, Genetics Disorders) - Global Forecast to 2028
The global molecular cytogenetics market in terms of revenue was estimated to be worth $3.1 billion in 2023 and is poised to reach $4.9 billion by 2028, growing at a CAGR of 9.9% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Investments by diagnostic labs and research centers, expanding units, and improved cous on targeted medicine are expected to boost the market for molecular cytogenetics. Moreover, increased demand for new techniques is expected to increase in the coming years, which is expected to propel the global market growth.
Attractive Opportunities in the Molecular Cytogenetics Market
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Global Molecular Cytogenetics Market Dynamics
DRIVER: Increasing incidence of cancer and genetic disorders
The global rise in cancer cases is notable. Studies have revealed recurrent genomic abnormalities in human diseases over the past twenty years, potentially contributing significantly to the growth of cancer. According to the cancer report released by the Indian Council of Medical Research (ICMR) and the National Centre for Disease Informatics and Research (NCDIR) in 2020, cancer cases in India are estimated to increase by 12% by 2025. Though individual genetic disorders are rare, they comprise over 15,500 recognized genetic disorders collectively. According to the WHO, in 2023, 3–4% of all births consisted of congenital malformations and 20–30% of all infant deaths were caused due to genetic disorders. Over the years, the prevalence of genetic disorders such as diabetes and rheumatoid arthritis has risen rapidly across the globe.
RESTRAINT: High cost of advanced instruments
The instruments required for cytogenetics come at a high cost due to their incorporation of advanced technologies and features. Additionally, there are ongoing expenses related to maintenance and insurance. An average molecular diagnostic instrument costs between USD 10.000 and USD 20,000. Due to their exorbitant expenses, smaller companies and research institutes with limited R&D budgets find it challenging to acquire or create such costly instruments. Another significant hurdle is the intricate nature of manufacturing kits, reagents, probes, and instruments. The development process for cytogenetics products is exceedingly intricate and costly, demanding substantial investments, technical expertise, proficiency in clinical trials, adherence to scientific standards, and robust quality systems.
OPPORTUNITY: Untapped emerging markets
Due to their exorbitant expenses, smaller companies and research institutes with limited R&D budgets find it challenging to acquire or create such costly instruments. Another significant hurdle is the intricate nature of manufacturing kits, reagents, probes, and instruments. The development process for cytogenetics products is exceedingly intricate and costly, demanding substantial investments, technical expertise, proficiency in clinical trials, adherence to scientific standards, and robust quality systems.To meet the increasing demand for cytogenetic products in emerging markets, manufacturers are strategically focusing on geographical expansions to strengthen their market position in these regions.
CHALLENGE: Transition from FISH to array-based techniques
The FISH techniques were partly replaced by the introduction of comparative genomic hybridization (CGH) in 1992. Being time-consuming and expensive to evaluate chromosomal rearrangements in FISH, array based CGH was developed. Emergence of new technologies for faster hybridization of the genome during array-based techniques is expected to create great opportunities for growth of the global market. Also, array-based techniques have wider applications such as CGX Onco Arrays from Perkinelmer, Inc. (Revvity) are microarrays specifically designed, developed for the detection of small genetic aberrations associated with hematological disorders such as leukemias and lymphomas, as well as genes associated with solid tumors.
Molecular Cytogenetics Ecosystem Market Ecosystem/Map
Kits & Reagents segment accounted for the largest share of the molecular cytogenetics industry in 2022, by product.
The molecular cytogenetics market is categorized into kits & reagents, instruments, consumables and software & services based on product. The kits & reagents segment emerged as the dominant force in the in 2022. The market is being driven by technological advancements coupled with launch of new molecular cytogenetics kits and increasing incidence of cancer.
Comparative genomic hybridization segment accounted for the largest share of the molecular cytogenetics industry in 2022, by technique.
The molecular cytogenetics market is categorized into comparative genomic hybridization, fluorescence in-situ hybridization, chromogenic in-situ hybridization and other techniques based on technique. The comparative genomic hybridization segment emerged as the dominating segment in the market in 2022. The market is being driven by increasing penetration of molecular cytogenetics in clinical pathological testing coupled with increasing research need of molecular cytogenetics products for the development of personalized medicines.
Cancer segment accounted for the largest share in the Increasing penetration of molecular cytogenetics in molecular cytogenetics industry in 2022, by application.
The global Increasing penetration of molecular cytogenetics market is categorized into genetic disorders, cancer, personalized medicine and other applications based on application. In 2022, the cancer segment held the largest share in the market, categorized by application. Throughout the world, cancer stands as a prominent cause of mortality and genetics is a major cause od majority of the chronic diseases like diabetes. Early identification and treatment play a crucial role in minimizing additional diseases like kidney, liver, etc. Therefore, the growing incidence of genetic and cancer related diseases coupled with the health complications associated with them is driving the demand for technologically advanced diagnostic tests, which, in turn, is propelling the market for molecular cytogenetics.
Clinical & research laboratories segment accounted for the largest share in the molecular cytogenetics industry in 2022, by end user.
Based on end user, the molecular cytogenetics market has been segmented into clinical & research laboratories, academic research institutes, pharmaceutical & biotechnology companies and other end users. In 2022, clinical & research laboratories segment accounted for the largest share of the market. Cancer and genetic diorders diagnostic services are available in clinics laboratories coupled with major usage in the research and academic labs. These facilities boast advantages such as enhanced and specialized testing options, streamlined billing systems, and cost-effectiveness. Additionally, the growth in the number of research centers, coupled with the growing number of diagnostic tests for cancer, is expected to drive the demand for molecular cytogenetics in this end-user segment.
North America accounted for the largest share of the molecular cytogenetics industry in 2022.
The molecular cytogenetics market is segmented into five major regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America has established itself as a primary contributor, holding the greatest market share in the molecular cytogenetics industry. The region's strong R&D infrastructure has facilitated swift adoption of cutting-edge techniques and platforms. Additionally, North America hosts numerous key companies within this sector, equipped with substantial expertise, resources, and well-established distribution networks, bolstering the region's dominance in the market. Moreover, the substantial impact of chronic conditions on the regional healthcare system serves as a significant driver for the market's growth.
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The major players in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Agilent Technologies, Inc. (US), Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US). These players' market leadership arises from their extensive product ranges and wide-reaching global presence. These dominant entities enjoy various advantages such as robust marketing and distribution networks, sizable research and development budgets, and firmly established brand recognition.
Scope of the Molecular Cytogenetics Industry
|
Report Metric |
Details |
|
Market Revenue in 2023 |
$3.1 billion |
|
Projected Revenue by 2028 |
$4.9 billion |
|
Revenue Rate |
Poised to Grow at a CAGR of 9.9% |
|
Market Driver |
Increasing incidence of cancer and genetic disorders |
|
Market Opportunity |
Untapped emerging markets |
This report categorizes the molecular cytogenetics market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Kits & Reagents
- Testing Kits
- Probes
- Fluorescent Affinity Reagents
- Other Kits & Reagents
- Instruments
- Consumables
- Software & Services
By Technique
- Comparative Genomic Hybridization
- Array-Based Comparative Genomic Hybridization
- Standard Comparative Genomic Hybridization
- Fluorescence In-Situ Hybridization
- Chromogenic In-Situ Hybridization
- Other Techniques
By Application
- Genetic Disorders
- Cancer
- Personalized Medicine
- Other Applications
By End User
- Clinical & Research Laboratories
- Academic Research Institutes
- Pharmaceutical & Biotechnology Companies
- Other End Users
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Recent Developments of Molecular Cytogenetics Industry
- In March 2023, Thermo Fisher Scientific & Pfizer partner to expand localized access to next generation sequencing-based testing for cancer patients in international markets.
- In January 2023, Agilent announced the acquisition of Avida Biomed, a high-performance NGS target enrichment workflow developer for cancer research.
- In November 2022, Danaher Corporation, a global science and technology innovator, announced that it has entered a strategic partnership with Duke University to form its first Danaher Beacon for Gene Therapy Innovation.
- In May 2021, Roche acquires GenMark as it aims to expand its portfolio of molecular cytogenetics .
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global molecular cytogenetics market?
The global molecular cytogenetics market boasts a total revenue value of $4.9 billion by 2028.
What is the estimated growth rate (CAGR) of the global molecular cytogenetics market?
The global molecular cytogenetics market has an estimated compound annual growth rate (CAGR) of 9.9% and a revenue size in the region of $3.1 billion in 2023. .
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The objective of the study is to analyze the key market dynamics, such as drivers, opportunities, restraints, challenges and key player strategies. To track company developments such as product launches, collaboration, expansion, acquisition, agreement and Partnership of the leading players, the competitive landscape of the molecular cytogenetics market to analyze market players on various parameters within the broad categories of business and product strategy. Top-down and bottom-up approaches were used to estimate the market size. To estimate the market size of segments and subsegments, the market breakdown and data triangulation were used.
The four steps involved in estimating the market size are
Secondary Research
In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Business, and Factiva) were referred to identify and collect information for this study.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources were mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, service providers, technology developers, researchers, and organizations related to all segments of this industry’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information as well as assess prospects.
The following is a breakdown of the primary respondents:
Breakdown of Primary Participants:
Note 1: Others include sales managers, marketing managers, and product managers.
Note 2: Companies are classified into tiers based on their total revenues. As of 2022, Tier 1 = >USD 100 million, Tier 2 = USD 10 million to USD 100 million, and Tier 3 = <USD 10 million.
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|
COMPANY NAME |
DESIGNATION |
|
Revvity |
Senior Product Manager |
|
Abbott Laboratories |
Quality Control Manager |
|
Thermo Fisher Scientific, Inc. |
Marketing Manager |
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the molecular cytogenetics market's total size. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry have been identified through extensive secondary research
- The revenues generated by leading players operating in the molecular cytogenetics market have been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global Molecular Cytogenetics Market Size: Bottom Up Approach
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Global Molecular Cytogenetics Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall market size by applying the process mentioned above, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Molecular cytogenetics is the study of chromosomes at all stages of the cell cycle. It comprises a set of techniques such as in-situ hybridization (ISH), fluorescence in-situ hybridization (FISH), and comparative genomic hybridization.
In molecular cytogenetics, various techniques are used to label DNA probes with fluorescent tags in order to observe one or many specific regions of the genome. Cytogenetics techniques are used to analyze genomic structure and variation at the chromosomal level. Molecular cytogenetics has its applications in the fields of oncology, personalized medicine, and genetic disorders.
Key Stakeholders
- Manufacturers of cytogenetics reagents, kits, and analyzers
- Vendors and distributors of cytogenetics reagents and kits
- Clinical and research laboratories
- Pharmaceutical and biotechnological companies
- Academic research institutes related to molecular cytogenetics studies
- Venture capitalists and investors
- Research and consulting firms
Report Objectives
- To define, describe, segment, and forecast the global molecular cytogenetics market by product, technique, application, end user, and region
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall molecular cytogenetics market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze company developments such as product launches, agreements, partnerships, and acquisitions in the global molecular cytogenetics market
- To benchmark players within the market using the proprietary "Competitive Leadership Mapping" framework, which analyzes market players on various parameters within the broad categories of business and product strategy
Available Customizations
MarketsandMarkets offers the following customizations for this market report.
Country Information
- Additional country-level analysis of the molecular cytogenetics market
Company profiles
- Additional five company profiles of players operating in the molecular cytogenetics market.
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company in the molecular cytogenetics market
Generating Response ...
Growth opportunities and latent adjacency in Molecular Cytogenetics Market