Molecular cytogenetics refers to techniques that combine methods of classical cytogenetics with molecular biology-based DNA/RNA technologies to study chromosomes at the DNA and RNA level. Molecular cytogenetics allows for a more comprehensive visualization and analysis of chromosomes and genes with higher resolution than classical cytogenetics. Techniques such as fluorescence in situ hybridization (FISH), comparative genomic hybridization (CGH), and multicolor FISH are widely utilized in molecular cytogenetics. Molecular cytogenetics finds wide applications in cancer diagnostics, genetic disorders, and prenatal testing.
The global molecular cytogenetics market is estimated to be valued at US$ 4211.4 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
Precision medicine is estimated to present high growth opportunity for the molecular cytogenetics market. Precision medicine refers to a medical model using characterization of individuals' phenotypes and genotypes (e.g., molecular profiling, medical imaging, lifestyle data) for tailored therapies and treatments. Molecular cytogenetics techniques provide comprehensive molecular-level visualization and analysis of chromosomes and DNA, which is useful for disease diagnosis, prognosis prediction, and personalized treatment responses in precision medicine. Growing adoption of precision medicine approaches especially in oncology is expected to drive the demand for molecular cytogenetics over the forecast period. The high resolution capabilities of molecular cytogenetics make it an attractive diagnostic technique for precision cancer diagnosis and management.
Porter's Analysis
Threat of new entrants: New entrants face high costs for R&D, production facilities and marketing. Regulatory measures also restrict new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, customized treatment options increase switching costs.
Bargaining power of suppliers: A few large suppliers exist for key components increasing their bargaining power. However, suppliers have less influence due to availability of substitutes.
Threat of new substitutes: Threat of substitutes is moderate to high due to technological advancements in genomics and precision medicine.
Competitive rivalry: The market is consolidated with large players having significant presence. Players compete based on product innovation, service and precision of results.
SWOT Analysis
Strengths: Growing precision medicine market and technological advancements enable non-invasive diagnosis and analysis.
Weaknesses: High costs of instruments, reagents and skilled professionals limit adoption. Complex workflow and data analysis require expertize.
Opportunities: Emerging economies provide scope for penetration. Partnerships with hospitals facilitate patient screening and diagnosis.
Threats: Stringent regulations delay product approvals. Reimbursement challenges in certain regions hamper revenue generation.
Key Takeaways
The Global Molecular Cytogenetics Market Growth is expected to witness high over the forecast period supported by increasing cancer incidence, growing genetic/birth disorder diagnosis and expanding allied sectors. The global Molecular Cytogenetics Market is estimated to be valued at US$ 4211.4 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.
The North American region currently dominates the market attributed to favorable government funding, well-established healthcare infrastructure and presence of leading market players. Asia Pacific is anticipated to exhibit fastest growth owing to rising healthcare expenditure, growing focus on genetic research and increasing patient pool.
Key players operating in the Molecular Cytogenetics market are UIC, Inc., Shimadzu Corporation, ELTRA GmbH, Xylem Inc., Skalar Analytical B.V.,Hach Company, Inc., GE Analytical Instruments, Inc., Teledyne Analytical Instruments, Mettler-Toledo International Inc., and Analytik Jena AG. Players compete based on portfolio expansion, geographical expansion, mergers & acquisitions and technological innovations to strengthen their market position.
Explore more information on this topic, Please visit-
https://www.dailyprbulletin.com/molecular-cytogenetics-market-share-size-and-growth-share-trends-analysis-demand-forecast/
Explore more trending article related this topic:
https://allmeaninginhindi.com/fiber-reinforced-concrete-the-construction-material-of-future/
Comments
0 comment