MOLECULAR CYTOGENETICS MARKET ANALYSIS

The global molecular cytogenetics market is estimated to be valued at US$  4,211.4 million in 2023 and is expected to exhibit a CAGR of 24.5% during the forecast period (2023-2030).

Analysts’ Views on Global Molecular Cytogenetics Market:

To enable a platform that is rapid, efficient sample processing and does not require culturing of life, dividing cells nor high-molecular-weight DNA extraction is expected to drive the global molecular cytogenetics market over the forecast period. For instance, In October 2021, Phase Genomics, Inc., a biotech company leading advancements in next-generation sequencing (NGS) solutions for genome assembly and analysis, announced the launch of the beta version of its new platform for next-generation cytogenomic applications in the reproductive genetics and oncology spaces.

Figure 1. Global Molecular Cytogenetics Market Share (%), by Product Type, 2023

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Global Molecular Cytogenetics Market – Driver

Launch of new products by key market players to expand product portfolio

To meet the needs of cytogenetic laboratories conducting both prenatal and postnatal research, key market players are focused on launching new products to expand their product portfolio. For instance, in March 2020, Agilent Technologies Inc., provider of instruments, software, services, etc., launched three new microarrays to meet the needs of cytogenetic laboratories conducting both prenatal and postnatal research.

Figure 2. Global Molecular Cytogenetics Market Value (US$ Million), by Region, 2023

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Global Molecular Cytogenetics Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global molecular cytogenetics market over the forecast period. North America is estimated to hold 44.3% of the market share. The growing prevalence of cancer and genetic disorders directly impacts the increased demand for the molecular cytogenetic market. For instance, as per the American Cancer Society, 1.9 million people are estimated to be diagnosed with cancer in the U.S. in 2022. Cancer cytogenetics not only gives important information to help with the treatment of cancer patients but also serves as a guide to finding the genes that cause these neoplastic states, which has stimulated the development of molecularly targeted therapies in the area of personalized medicine. Thus, the rise in cancer cases is anticipated to increase market growth over the forecast period.

Global Molecular Cytogenetics Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a positive impact on the global molecular cytogenetics market. For instance, in February 2022, Thermo Fisher Scientific Inc., supplier of scientific instrumentation, reagents, etc., announced the launch of a new rapid environmental test to help in the fight against COVID-19. The Thermo Scientific Renvo Rapid PCR Test is the latest solution in the company’s in-air pathogen surveillance product portfolio. The Renvo Rapid PCR Test is performed on air samples collected using the company’s Thermo Scientific AerosolSense Sampler.

Global Molecular Cytogenetics Market Segmentation:

The global molecular cytogenetics market report is segmented into by Product Type, by Technology, by Application, and Region.

By Product Type, the market is segmented into instruments, consumables, software, and services. Out of which, the software and services segment is expected to hold a dominant position in the global molecular cytogenetics market during the forecast period and this is attributed to the technological advancements in the field of molecular cytogenetics.

By Technology, the market is segmented into FISH and aCGH. Out of which, the FISH segment is expected to hold a dominant position in the molecular cytogenetics market during the forecast period and this is attributed to the increasing usage in growing clinical applications.

By Application, the market is segmented into genetic disorder, cancer, personalized medicine, and others. Out of which, the cancer segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of cancer diseases.

Among all the segmentations, the technology segment has the highest potential due to the increasing prevalence of cancer diseases over the forecast period. The Fluorescence in-situ hybridization (FISH) study has become an essential tool for both basic and clinical research, as well as diagnostics, in leukemia and malignancies, according to the paper published in March 2021 in PubMed, FISH can detect chromosomal abnormalities by utilizing fluorescently labeled DNA probes that specifically target specific DNA sequences. FISH-based techniques such as multicolor karyotyping, comparative genomic hybridization (CGH), and array CGH are increasingly being used in clinical applications because of their capacity to correct complex karyotypic defects and carry out a thorough global search for chromosomal imbalances.

Global Molecular Cytogenetics Market Cross Sectional Analysis:

Rising incidence of cancer and genetic disorders in emerging economies is also expected to boost demand for molecular cytogenetic technologies in these regions. For instance, according to the World Health Organization, the number of new cancer cases diagnosed per year in Africa is expected to grow from over 1 million in 2019 to over 2.1 million in 2040.

Global Molecular Cytogenetics Market: Key Developments

In September 2022, the Azerbaijan Thalassemia Center, medical institution and BGI, leading integrated solutions provider of precision medicine, held a virtual signing ceremony to seal a collaboration agreement. The partnership aims to improve thalassemia screening in Azerbaijan through genetic technology.

In July 2020, two top cytogeneticists from leading institutions in Netherlands and France reported that Bionano Genomics' Saphyr demonstrates 100% concordance to standard cytogenetics in genetic disorders.

Global Molecular Cytogenetics Market: Key Trends

Better healthcare infrastructure, effective government policies, etc. can drive the growth of market

Due to improved healthcare infrastructure, effective government policies, a sizable base of multinational corporations, and an increase in genetic illnesses, the molecular cytogenetics market is expected to experience considerable expansion in the North American region. According to the article released in May 2022, most recently accepted Diagnostic and Statistical Manual of Mental Disorders, the Indiana Health Coverage Program module covers chromosomal microarray analysis (CMA), also known as cytogenetic microarray analysis,  it is determined to be medically necessary for diagnosing a genetic abnormality in children with apparent nonsyndromic cognitive developmental delay/intellectual delay (DD/ID) or autism spectrum disorder (ASD).

Global Molecular Cytogenetics Market: Restraint

Unfavorable reimbursement policies

Unfavorable reimbursement policies represent a major restraint on the growth of the global molecular cytogenetics market. Insurance companies are refraining from reimbursing molecular diagnostic tests.

Moreover, the high cost of genetic testing is also expected to limit market growth. The cost of these tests typically ranges from US$ 300 to US$ 3,000 per test and are considered the most important technologies for early detection.

Global Molecular Cytogenetics Market - Key Players

Major players operating in the global molecular cytogenetics market include Abbott Laboratories, Affymetrix, Inc., Agilent Technologies, Inc., Applied Spectral Imaging, Inc., BI Biological Industries, Bio-Rad Laboratories, Thermo Fisher Scientific Inc., CytoTest Inc., Cytognomix, Inc., F. Hoffmann-La Roche Ltd., Illumina Inc., Bionano Genomics, Inc., Precipio, Inc., and Leica Biosystems.

*Definition: Molecular cytogenetics is a study of genetic disorders using new technologies that combine cytogenetic and molecular techniques. The study of chromosomes, which are long strands of DNA and protein that contain most of the genetic information in a cell. Cytogenetics involves testing tissue, blood, or bone marrow samples in a laboratory to look for chromosomal changes, including broken, missing, rearranged, or extra chromosomes. Changes in some chromosomes can be a sign of a genetic disease or condition or certain cancers. Cytogenetics can be used to diagnose a disease or condition, plan treatment, or determine the effectiveness of treatment.