Molecular Cytogenetics Market Overview
The global molecular cytogenetics market generated $1.8 billion revenue in 2017 and is projected to witness a CAGR of 9.9% during 2018–2023. Growing implementation of pharmacogenomics in personalized disease management and drug development, rising number of cancer cases, advancements in cytogenetic techniques, and increasing rate of genetic-based diagnoses of chromosomal abnormalities are the key factors driving the market growth.
GLOBAL MOLECULAR CYTOGENETICS MARKET, BY TECHNOLOGY, $M (2014-2023)
Based on offering, the molecular cytogenetics market has been categorized into consumables, software and services, and instruments. Consumables accounted for 40% share in the market in 2017, due to their increasing usage in research laboratories.
Based on technology, the molecular cytogenetics market has been categorized into comparative genomic hybridization (CGH), fluorescence in-situ hybridization (FISH), immunohistochemistry, karyotyping, and others. During the forecast period, the market for FISH technology is expected to witness significant growth, advancing at a CAGR of 10.1%. This growth can be mainly attributed to advancements in the FISH technology and its wide application in the diagnosis and prognosis of diseases. The CGH technology is further classified as array-based CGH and standard CGH. Between the two, array-based CGH held a larger share, of 55.4%, in the CGH molecular cytogenetics market, in 2017.
On the basis of application, the molecular cytogenetics market has been categorized into cancer, genetic disorders, and personalized medicine. During the historical period, cancer was the largest application area of molecular cytogenetics and accounted for 41.9% share in the market in 2017. This can be attributed to increase in the prevalence of cancer and focus of research institutes on the development of diagnostic testing tools for cancer and genetic disorders.
Based on end user, the molecular cytogenetics market has been classified into clinical and research laboratories, academic research institutes, hospitals and pathology laboratories, and pharmaceutical and biotechnology companies. Among these, the market is predicted to witness the fastest growth in the end-user category of pharmaceutical and biotechnology companies, at a CAGR of 10.9%, during the forecast period.
Geographically, North America continues to contribute the largest share to the molecular cytogenetics market, with 46.4% market share in 2017. The market growth in the region can be mainly attributed to advanced healthcare infrastructure and increase in the prevalence of cancer and genetic disorders. In addition, the rising adoption of technologically advanced platforms, such as next-generation sequencing and array technology, is driving the regional market growth.
Molecular Cytogenetics Market Dynamics
Increasing application of molecular cytogenetics in crop improvement and in the treatment of geriatric population are contributing to the growth of the molecular cytogenetics market. Increasing incidence of cancer cases and related mortality emphasizes the need for the development of advanced techniques for the better understanding of cancer at the chromosomal level. Furthermore, techniques, such as FISH, gene expression profiling, CGH, and single nucleotide polymorphism (SNP), have provided significant information about cancer-related molecular signatures, thereby leading to advancements in cancer diagnosis, prognosis, and treatment customization.
The application of cytogenetic techniques extends beyond the simple investigation of the chromosomal status of genome. It facilitates the study of genomic changes involved in disease pathogenesis, the three-dimensional organization of the human genome, and the nature of inherited syndromes. Continuous advancements in FISH and array-based techniques have enhanced the scope for molecular cytogenetics with respect to both basic research and molecular diagnostics. Moreover, the emergence of array comparative genomic hybridization techniques has played a significant role in bridging the gap between molecular biology and cytogenetics.
Growing geriatric population is also one of the factors supporting the growth of the molecular cytogenetics market. Some epidemiological studies have identified aging as a risk factor for cancer development. According to a research study supported by Faculdade de Medicina de Marilia, the frequency of hematological malignancies in the elderly is high. Thus, the growth in geriatric population demands development of advance disease detection techniques.
Increasing number of research collaborations and laboratories, growing implementation of stringent drug development regulations, and rising investments (direct and indirect) in research and development (R&D) by pharmaceutical and biotechnology companies are the factors supporting the market growth during the forecast period.
Molecular Cytogenetics Market Competitive Landscape
Continuous R&D in the molecular cytogenetics industry has led to the introduction of technologically advanced products by the market players. For instance, in March 2018, Agilent Technologies Inc. announced the release of a novel chromogen, HRP Magenta, for Dako Omnis. Dako Omnis is the company’s instrument for immunohistochemistry and in-situ hybridization that makes use of modified molecule in cancer diagnostics.
In November 2017, Illumina Inc. launched the NextSeq 550Dx system and updated its MiSeq Dx instrument to expand its clinical in vitro diagnostic portfolio.
Some of the other key players in the molecular cytogenetics industry are Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories Inc., F. Hoffmann La-Roche AG, PerkinElmer Inc., Quest Diagnostics Inc., and NeoGenomics Inc.