Molecular Cytogenetics Maeket is Estimated to Witness High Growth Owing to Advancements in Gene Mapping
Molecular cytogenetics is a technique that combines traditional cytogenetics with molecular biology-based technologies to study chromosomes at a high resolution. It involves procedures such as fluorescence in situ hybridization (FISH) and comparative genomic hybridization (CGH) to detect chromosomal abnormalities associated with genetic disorders. The technique plays a vital role in detecting structural mutations, identifying complex chromosome rearrangements, and gene mapping applications. It enables precise diagnosis of genetic disorders by determining the exact location and nature of aberrations.
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, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Advancements in gene mapping through high-resolution Global Molecular Cytogenetics Market Size significant growth opportunities in the market. Gene mapping helps identify the location of genes on chromosomes and helps understand gene functions and genetic disorders. Recent technological developments have enabled precise mapping of entire genomes at a high resolution. Molecular cytogenetics plays a vital role in mapping genes associated with rare and complex genetic conditions. Further developments in techniques like microarray-based comparative genomic hybridization and next-generation sequencing FISH are assisting comprehensive genome mapping. These advancements are expected to drive the demand for molecular cytogenetics in biomedical research and clinical diagnostics over the forecast period.
Porter’s Analysis
Threat of new entrants: The molecular cytogenetics market requires high R&D investments for development of advanced solutions, acting as a barrier for new companies. However, the developing regions offer opportunities for new entrants.
Bargaining power of buyers: The presence of several solution providers empowers buyers to negotiate on better pricing and customized product offerings. The increasing demand from research labs and hospitals augments their bargaining power.
Bargaining power of suppliers: The dependence on few technology giants for components increases supplier power. However, local suppliers provide cost-effective inputs, balancing the supplier power.
Threat of new substitutes: Though alternatives like chromosomal microarray and SNP arrays are available, they cannot offer the same accurate results as molecular cytogenetics for diagnosis. This reduces threat from substitutes.
Competitive rivalry: Major companies focus on expanding their product portfolios through acquisitions and strategic deals. Intense competition exists between global and regional players to gain higher market shares.
SWOT Analysis
Strengths: Molecular cytogenetics provides precise diagnosis of genetic abnormalities better than conventional methods. Rising research activities and healthcare expenditures support market growth.
Weaknesses: High costs of instruments, reagents and services limit use in low-income regions. Shortage of trained technicians poses operational challenges.
Opportunities: Untapped emerging countries with large patient pools present lucrative opportunities. Collaborations aid technology transfer to healthcare facilities.
Threats: Stringent regulatory approvals and reimbursement policies delay market access. COVID-19 pandemic slowed down non-essential procedures in 2020-21 impacting revenues.
Key Takeaways
The global Molecular Cytogenetics market is expected to witness high growth at a CAGR of 5.0% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 4211.4 Mn by 2024.
Regional analysis
North America dominates the market currently owing to advanced healthcare infrastructure and rising cancer incidence. Asia Pacific is poised to grow the fastest in the coming years backed by increasing healthcare spending, supportive government initiatives and growing medical tourism.
Key players
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.
Get More Insights On This Topic: https://www.newswirestats.com/molecular-cytogenetics-market-forecast-outlook-trend-2023-2030/
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