Top Key Players Operating In the Molecular Cytogenetics Market and Growth Strategies

The global molecular cytogenetics market accumulated$1.8 billion revenue in 2017, and it is projected to attain a CAGR of 9.9% during the forecast period (2018–2023). The increasing popularity of pharmacogenomics in drug development and personalized disease management, advancements in cytogenetic techniques, and employment of these techniques in detecting chromosomal abnormalities are influencing the market growth. With the growing number of cytogenetic abnormalities, cases of cancer, and drugs becoming redundant in the treatment of diseases, a more robust technique is needed for determining the cause of and managing such conditions.

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Molecular cytogenetics is the branch of genetics that deals with the study of chromosomal structure, its location and function within a cell, and the detection of genetic diseases. It utilizes techniques such as comparative genomic hybridization (CGH), fluorescence in situ hybridization (FISH), immunohistochemistry (IHC), and karyotyping in various applications of biology and medicine. The market is segmented by technology, application, end-user, geography, and offering. On the basis of technology, the market is subdivided into FISH, IHC, CGH, karyotyping, and others. The market for FISH is expected to grow at a CAGR of 10.1% during the forecast period.

Molecular Cytogenetics Market by psmarketresearch

The global molecular cytogenetics market is being driven by a number of factors, one being the rising cases of cancer. Cancer as a disease involves numerous mutations, which are either disease-specific or could vary from one individual to another. Molecular cytogenetics techniques such as single nucleotide polymorphism (SNP), CGH, FISH, and genomic expression profiling are not only helping researchers in identifying cancer-specific biomarkers, but are also helping doctors in providing better diagnosis, prognosis and treatment to patients.

Another driving factor for this market is the developments in the field of pharmacogenomics and pharmacogenetics. With conventional treatments for cancer and many other chronic diseases becoming redundant, new avenues are being explored to find effective treatment methods. The field of pharmacogenomics has helped in tackling certain roadblocks in disease management. It has facilitated the understanding of the why’s and how’s of variable response to the same drug in people with the same medical condition, thereby driving the growth of the molecular cytogenetics market.

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Some of the key players operating in the molecular cytogenetics industry include Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories Inc., F. Hoffmann La-Roche AG, PerkinElmer Inc., Illumina Inc, Agilent Technologies Inc and NeoGenomics Inc.

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