Molecular Cytogenetics Market – Analysis and Forecast To 2024 | Illumina, Perkinelmer.

Molecular cytogenetics is the genetic variation through in-situ hybridization techniques. It provides an analysis of genome organization, its behavior, and structure in high resolution. The global molecular cytogenetics market is growing at a significant rate, due to the mounting occurrence of cancer and genetic disorders, and escalating penetration of molecular cytogenetics in clinical pathological testing. Different products such as kits & reagents, consumables, instruments, and software & services contributed to the molecular cytogenetics market size. The market has witnessed a high demand for kits and reagents due to the mounting occurrence of cancer and genetic disorders.

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Mounting emphasis on targeted cancer treatment, evolution in the gene-based projection of genetic abnormalities, and escalating penetration of molecular cytogenetics in clinical pathological testing are also facilitating the growth of the molecular cytogenetics market.

Elevated price of innovative instruments and unfavorable reimbursement scenario are the major challenges for the growth of molecular cytogenetics market.

Globally, the manufacturing companies trying to enter the molecular cytogenetics market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. The instruments required for cytogenetics procedures and researches are equipped with advanced functionalities due to their high costs. This offers an edge to the established players in the industry competition.

Asia-Pacific is observed to witness the fastest growth in the market, due to expanding the geriatric population. In addition, the mounting occurrence of genetic disorder and cancer, and escalating healthcare expenditure are also creating a positive impact on the molecular cytogenetics market growth in the region.

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Key players in the molecular cytogenetics market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In October 2018, Precipio Inc., launched HemeScreen, a molecular test for the mutation in hematologic cancer. Abbott Laboratories, Inc., Illumina, Inc., Applied Spectral Imaging, Perkinelmer, Inc., Bio-Rad Laboratories, Inc., Preciio Inc., and Thermo Fisher Scientific Inc. are the key players offering molecular cytogenetics.

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