Molecular Cytogenetics Market Overview
In 2017, the global molecular cytogenetics market was valued at $1.8 billion, and it is expected to grow at a CAGR of 9.9% during the forecast period (2018–2023). The key factors driving the market include the rising prevalence of cancer, technical advancements in molecular cytogenetics, growing use of pharmacogenomics for personalized disease management and drug development, and aging population and its vulnerability to chronic diseases.
On the basis of offering, the molecular cytogenetics market is classified into instruments, consumables, and software and services. Due to the increasing usage of consumables in research laboratories, they held the largest share of 40.0% in the market in 2017.
GLOBAL MOLECULAR CYTOGENETICS MARKET, BY TECHNOLOGY, $M (2014-2023)
When technology is taken into consideration, the molecular cytogenetics market is categorized into immunohistochemistry (IHC), karyotyping, comparative genomic hybridization (CGH), and fluorescence in-situ hybridization (FISH). Out of these, the FISH technology is predicted to grow the fastest, at a CAGR of 10.1%, during the forecast period. This is due to the wide application of the FISH technology in the diagnosis and prognosis of diseases, and technological advancements in the field. The CGH technology is further bifurcated into array-based CGH and standard CGH, among which array-based CGH held the larger market share (55.4%) in 2017.
Based on application, the molecular cytogenetics market is divided into genetic disorders, cancer, and personalized medicine. Cancer held the largest share (41.9%) of the market in 2017 because of its increasing prevalence and the focus of research institutes on the development of diagnostic testing tools for it.
The end-users in the molecular cytogenetics market are academic research institutes, pharmaceutical and biotechnology companies, hospitals and pathology laboratories, and clinical and research laboratories. Out of these, pharmaceutical and biotechnology companies are expected to witness the fastest growth, with a CAGR of 10.9%, during the forecast period.
On the basis of geography, the largest share (46.4%) of the molecular cytogenetics market was held by North America in 2017. This was due to the increasing prevalence of cancer and genetic disorders, advanced healthcare infrastructure, and the adoption of technologically better platforms, such as next-generation sequencing and array technology.
Molecular Cytogenetics Market Dynamics
Factors, such as the rising implementation of pharmacogenomics for disease management and drug development, growing prevalence of cancer, technical advancements in molecular cytogenetics, growth in the genetic-based prediction of chromosomal abnormalities, increasing application of molecular cytogenetics in crop improvement, and the aging population and its vulnerability to chronic diseases are driving the growth of the molecular cytogenetics market.
The rising number of cancer cases is leading to the increasing adoption of various molecular cytogenetics techniques for diagnostic purposes. Apart from this, the surge in cancer research is also contributing to the growth of the molecular cytogenetics market, as there is a requirement for advanced techniques for better understanding of cancer at the chromosomal level. Techniques, such as FISH and CGH, provide vital information about cancer-related molecular signatures, thereby resulting in the growth of the market.
FISH, chromosome image analysis, flow sorting, and genomic in-situ hybridization (GISH), implemented for the development of artificial plant chromosomes, are used in the construction of genetic, physical, molecular, and comparative maps. Their advancements have further paved the way for the development of several breeding techniques. In addition to this, the FISH technique is also being used in various studies for the characterization of alien segments; thus, the increasing application area and advantages of molecular cytogenetics in crop improvement are helping in the growth of the molecular cytogenetics market.
The lack of skilled personnel and regulatory framework, high cost of cytogenetics instruments, and insufficient reimbursements are some of the factors which are obstructing the growth of the molecular cytogenetics market.
With the rise in the usage of cytogenetic techniques and tools, the requirement for trained personnel with knowledge of both biological and technical intricacies is also increasing. The lack of skilled personnel to perform the desired operations using cytogenetic technique is hindering the growth of the molecular cytogenetics market, although various training programs on handling the sequencing technology are being provided, which are predicted to solve the problem.
Molecular Cytogenetics Market Competitive Landscape
Several companies are entering into partnerships to further the growth of the molecular cytogenetics market. For example, PerkinElmer Inc. entered into partnership with Helix OpCo LLC in April 2018 in order to produce and market exome sequencing-based tests, which will help consumers take proactive decisions for health management. The same month, Illumina Inc. announced a collaboration with Loxo Oncology for the development and commercialization of next-generation sequencing-based pan-cancer companion diagnostics.
Some of the other key players in the molecular cytogenetics market are Abbott Laboratories, Danaher Corporation, F. Hoffmann La-Roche AG, Quest Diagnostics Inc., Bio-Rad Laboratories Inc., and NeoGenomics Inc.