Market Research Report
Published: February 1, 2022
Global Industry Analysts, Inc.
Content info: 657 Pages
Delivery time: 1-2 business days
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Global Molecular Cytogenetics Market to Reach $2.5 Billion by 2026
Molecular Cytogenetics involves all aspects of chromosome biology, such as structural and functional organization of the chromosome and nucleus, chromosomal variation and abnormalities, and the applications of chromosome biology in medicine and tumor genetics. Cytogenetics plays an important role in identification of genetic predisposition to disease and also a person`s reaction to a certain drug. Molecular biology techniques evolved from simple tools such as In situ Hybridization (ISH), which detects the presence, quantity, and location of DNA/RNA sequences in cells and tissues, by using a labeled sequence fragment called a "probe". These screening tests analyze complicated genomic interactions and help to determine the progress of a disease. Amid the COVID-19 crisis, the global market for Molecular Cytogenetics estimated at US$1.6 Billion in the year 2020, is projected to reach a revised size of US$2.5 Billion by 2026, growing at a CAGR of 7.7% over the analysis period. Consumables, one of the segments analyzed in the report, is projected to record a 7.8% CAGR and reach US$1.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Instruments segment is readjusted to a revised 6.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $746.7 Million in 2021, While China is Forecast to Reach $159.7 Million by 2026
The Molecular Cytogenetics market in the U.S. is estimated at US$746.7 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$159.7 Million by the year 2026 trailing a CAGR of 8.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.3% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.2% CAGR.
Growth in these markets is driven by increasing incidence of cancer and genetic abnormalities, need for rapid disease diagnosis through genetic techniques, as well as higher funding (both public and private) leading to introduction of highly advanced cytogenetic techniques and their broadening applications are some of the key factors poised to contribute to future growth. Significant rise in target patient population across the world, and rising preference for CGH in clinical diagnosis, is expected to drive the market further, providing players with lucrative opportunities. Growing awareness levels of genetic disorders and expanding pool of research laboratories specializing in molecular biology techniques, would be beneficial for cytogenetics solutions. Rise in incidence of cancer and the subsequent demand for personalized medicine, is likely to enhance market prospects in a major way.
Software & Services Segment to Reach $451.8 Million by 2026
In the global Software & Services segment, USA, Canada, Japan, China and Europe will drive the 8.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$231.2 Million in the year 2020 will reach a projected size of US$404.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$24.1 Million by the year 2026, while Latin America will expand at a 9.2% CAGR through the analysis period.
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