Molecular Cytogenetics Market Is Projected To Reach $3.8 Billion By 2025

The global molecular cytogenetics market size is expected to reach USD 3. 8 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 10.4% CAGR during the forecast period. Mapping of human genome, coupled with continuous technological advancements in cytogenetic techniques, has enabled researchers to gain insight into the disease-causing mechanism at a genomic as well as cellular level. Development in molecular technologies has helped in bridging the gap between molecular biology and cytogenetics, which was not possible using conventional cytogenetic techniques. 

There is a continuous growth in awareness, and consequent adoption, of genetic tests for disease prognosis. These tests also help in designing further treatment regimes for widespread chromosomal abnormalities. This is sure to boost market growth.

Incorporation of high throughput sequencers in cytogenetic analysis is expected to significantly enhance market growth in the coming years. A number of researchers and scientists have begun converging cytogenetics laboratories with NGS as they complement each other. Hence, with exponential decline in sequencing price, this market is expected to grow at a lucrative pace.

However, ambiguous regulatory and reimbursement scenario in certain regions pertaining to implementation of genetic tests is expected to hamper the adoption of molecular cytogenetic techniques to a certain extent.

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Further key findings from the report suggest:

• Oncology held the largest share in the market in 2016 owing to the ability of CGH technology to facilitate in-depth studies for cancer etiology
• Use of molecular cytogenetics in personalized medicine development is expected to grow lucratively during the forecast period. This is majorly due to a continuous shift toward targeted therapies for effective disease management
• Requirement of consumables in the entire cytogenetics process is attributive for the largest share of this product category
• Ongoing research projects for developing treatment regimen of different genetic conditions have allowed clinical and research laboratories to gain a significant share in the market
• Pharmaceutical and biotech companies are expected to be a key source of revenue in the coming years. This is mainly because a number of pharmaceutical companies have expanded their business in the field of personalized medicine
• Illumina, Inc.; Agilent Technologies, Inc.; Abbott; Bio-Rad Laboratories, Inc.; and Oxford Gene Technology are some prominent companies in the market. They are involved in development and commercialization of cytogenetics techniques
• Some major service providers are Weill Cornell Medicine; WiCell Research Institute, Inc.; ARUP Laboratories; and Integrated Systems Engineering S.r.l.

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.

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