MOLECULAR CYTOGENETICS MARKET ANALYSIS

Molecular Cytogenetics MarketSize and Trends

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).

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

Global Molecular Cytogenetics Market Segmentation: 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 – 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 - 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).