Rising Cancer Prevalence Driving Molecular Cytogenetics Market Growth

The increasing cases of cancer, usage of pharmacogenomics for drug development and disease management, enhancements in molecular cytogenetics and its expanding application in agriculture, requirement for predicting chromosomal abnormalities based on genes, and surging geriatric population are driving the usage of molecular cytogenetics. From $1.8 billion in 2017, the global molecular cytogenetics market size is projected to reach $3.3 billion by 2023, at a 9.9% CAGR during 2018–2023 (forecast period). The term refers to the study of chromosomes, their structure, and location and function in cells, in order to detect inherited diseases.

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Consumables, instruments, and software and services are the various market categories, when segmented by offering. In 2017, consumables dominated the industry, with a 40.0% revenue share, on account of the increasing usage of antibiotic/antimycotic solutions, media, salt solutions, disposables, and ancillary reagents in laboratories, for research. During the forecast period, software and services would observe the highest CAGR in the molecular cytogenetics market, of 10.5%, due to the rapid automation of laboratory processes and outsourcing of costly services.

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North America led the molecular cytogenetics market in 2017, with a revenue share of 46.4%. This is attributed to the rise in the number of people suffering from cancer and other genetic disorders, better healthcare infrastructure than in other regions, and usage of improved technologies, including next-generation sequencing. With an 11.8% CAGR, Asia-Pacific would display the fastest industry prosperity during the forecast period, as the market here is untapped, the population is high, and global market players are entering it.

Hence, as cancer becomes an even bigger problem than presently and the agrarian community looks for ways to improve the crop, the usage of molecular cytogenetics would increase further.

This Study Covers

• Historical and the present size of the molecular cytogenetics market

• Major factors driving the market and their impact during the short, medium, and long terms

• Market restraints and their impact during the short, medium, and long terms

• Recent trends and evolving opportunities for the molecular cytogenetics market participants

• Historical and the present size of the market segments and understand their comparative future potential