Cytogenetics Market Size To See Record Break Revenue $3.09 billion By 2025
Pune, Maharashtra, India, February 12 2021 (Wiredrelease) Allied Analytics –:Cytogenetics is a branch of biology, which correlates cytology and genetics. The correlation is used to study chromosomes and genes in cells and tissues. The study is conducted in relation to hereditary and variations in genes and number of chromosomes, which are used for the detection of genetic disorders as well as selection of precise therapies for treatment of these genetic disorders. Cytogenetics includes various techniques such as comparative genomic hybridization, fluorescence in situ hybridization, karyotyping, immunohistochemistry, and others. These techniques require the use of cytogenetic products such as testing kits, media, and reagents; probes; consumables; instruments; and software & services. These product and techniques are used for the screening of genetic disorders and designing personal medicine.
The Cytogenetics Market was valued at $1.12 billion in 2017, and is projected to reach $3.09 billion in 2025, registering a CAGR of 13.5% from 2018 to 2025.
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1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
Increase in prevalence of cancer & genetic disorders, rise in global geriatric population along with surge in prevalence of chronic diseases, and surge in awareness related to acceptance of personalized medicines across the world are the factors that drive the global cytogenetics market growth. However, higher cost of advanced cytogenetic instruments is expected to impede the market growth. Conversely, shift from fish to array-based techniques is expected to provide many opportunities during the forecast period.
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The utilization rate of testing kits, media, and reagents is high, as they are the essential elements of every cytogenetic technique performed. However, the software & services segment is expected to grow at a high CAGR during the forecast period.
The comparative genomic hybridization segment is the largest segment in the global cytogenetics market, and is anticipated to grow at a high CAGR during the forecast period. The clinical & research laboratories segment is expected to grow at a moderate CAGR in the near future. On the other hand, the pharmaceutical & biotechnology companies segment is anticipated to record a high CAGR during the forecast period.
North America was the leading revenue contributor to the global cytogenetics market in 2017, and is expected to dominate the market during the forecast period. This is attributed to the presence of majority of major key players in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to increase in affordability, surge in healthcare expenditure, and rise in awareness towards early screening of genetic disorders.
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The Major Key Players Are:
• Abbott Laboratories
• Agilent Technologies, Inc.
• Applied Spectral Imaging, Inc.
• Empire Genomics, LLC.
• Illumina, Inc.
• Irvine Scientific.
• OPKO Health, Inc. (GeneDx.)
• PerkinElmer Inc.
• Sysmex Corporation (Oxford Gene Technology)
• Thermo Fisher Scientific, Inc.
The Other Key players Are:
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche Ltd.
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