(IT-NEWSWIRE.COM, March 25, 2020 ) The high incidence and large economic burden of genetic disorders and cancer and rise in healthcare expenditure has resulted in the increasing use of molecular cytogenetic products in clinical and research laboratories, academic research institutes, and pharmaceutical and biotechnology companies.
The molecular cytogenetics market is segmented based on products, techniques, application, end user, and region.
Market Segmentation in Detailed:
On the basis of product, the market is segmented into kits and reagents, instruments, consumables, and software and services. The kits and reagents segment is expected to account for the largest share of the global market in 2016; the increasing incidence of genetic disorders and cancer is a key market driver in this segment.
On the basis of technique, the market is segmented into comparative genomic hybridization (CGH), fluorescence in situ hybridization (FISH), in situ hybridization (ISH), and other techniques. CGH forms the largest and fastest-growing technology segment of this market, as the increasing laboratory automation will increase areas of application of CGH in molecular cytogenetics market.
Based on application, the molecular cytogenetics market is segmented into genetic disorders, cancer, personalized medicine, and other applications. The genetic disorders segment accounts for the largest share of the global market in 2016; and on the basis of end users, the market is segmented into clinical and research laboratories, academic research institutes, pharmaceutical and biotechnology companies, and others. The clinical and research laboratories segment is expected to account for the largest share of the global market.
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Major Market Developments:
In January 2014, Roche acquired Genia Technologies, Inc. (U.S.). This acquisition strengthened Roche's Next Generation Sequencing pipeline.
In February 2015, Roche acquired Signature Diagnostics AG (Germany).
In January 2016, Thermo Fisher Scientific, Inc. acquired Affymetrix (U.S.). This acquisition strengthened Thermo Fisher Scientific's leadership into bioscience business and create new market opportunities in genetic analysis.
In July 2016, Thermo Fisher Scientific and HEALTH BioMed (China) collaborated to support HBM’s development of molecular diagnostic kits for infectious diseases and pharmacogenomics screening which will serve the Chinese market.
The global molecular cytogenetics market is segmented into four major regions North America, Europe, Asia, and Rest of the World. Geographically, the global market is dominated by North America. Growth in the North American segment is primarily driven by the high incidence of genetic disorders and cancer, rapid growth in the aging population, and high healthcare expenditure.
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Major Key Players:
The molecular cytogenetics market include F. Hoffmann-La Roche Ltd. (Switzerland) Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Abbott Laboratories (US), Agilent Technologies (US), PerkinElmer, Inc. (US), Illumina, Inc. (US), Bio-Rad Laboratories (US), Oxford Gene Technology (UK), and Applied Spectral Imaging (US).
Mr. Sanjay Gupta