June 14, 2024
Molecular Cytogenetics Market

Molecular Cytogenetics Market is in Trends by Next Generation Sequencing Technology

The molecular cytogenetics market comprises products such as kits, reagents, instruments, software, and services used for the diagnosis of genetic abnormalities and genetic disorders such as cancer and genetic diseases. The molecular cytogenetics techniques help in detecting diseases unambiguously at the chromosome level through methods like PCR, FISH, banding techniques, and DNA microarray.

The Global molecular cytogenetics market is estimated to be valued at US$ 4851.54 million in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the molecular cytogenetics market size are UIC, Inc., Shimadzu Corporation, ELTRA GmbH, Xylem Inc., Skalar Analytical B.V.,Hach Company, Inc., GE Analytical Instruments, Inc., Teledyne Analytical Instruments, Mettler-Toledo International Inc., and Analytik Jena AG. Growing demand for disease diagnosis and personalised treatment is fuelling the growth of the molecular cytogenetics market. With increasing investments in research and development, key players are focusing on expansion strategies and global footprint to cater to the growing demand.

The growing incidences of genetic abnormalities and cancer has increased the adoption of molecular cytogenetics techniques for accurate diagnosis. Various market players are launching innovative kits and software for quick and reliable diagnosis of genetic disorders. Furthermore, initiatives by governments and healthcare organizations to promote precision medicine is augmenting the demand.

Market Key Trends

Next generation sequencing (NGS) technology is one of the key trends gaining traction in the molecular cytogenetics market. NGS allows detection of abnormalities at a higher resolution by sequencing whole genomes or targeted regions. It enables simultaneous analysis of millions of DNA fragments providing comprehensive information. NGS helps in identification of structural variants, translocations and rearrangements precisely, which was previously challenging with traditional cytogenetic methods. This has improved disease diagnosis and management significantly. NGS is expected to dominate the molecular cytogenetics market during the forecast period.

Porter’s Analysis

Threat of new entrants: Low cost of production and well established brand name helps existing players to deter the new entrants.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials.

Threat of new substitutes: Low threat as there are limited substitute products for molecular cytogenetics.

Competitive rivalry: High as the market is concentrated and players compete on basis of product quality, technical support and pricing.

Geographical Regions

North America dominated the global molecular cytogenetics market in terms of value in historical year with a share of over 35%. High adoption rate of advanced cytogenetic technologies among healthcare providers and patients is the key factor driving the market in the region.

Asia Pacific is expected to witness highest growth during the forecast period. Increasing healthcare expenditure, rising awareness regarding genetic disorders and expanding healthcare infrastructure are some factors supporting the growth of molecular cytogenetics market in emerging economies like China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraaged AI tools to mine information and compile it