Global Molecular Cytogenetics Market 2018-2023: Growing Prevalence of Cancer and Genetic Disorders have a Direct Rising Impact on the Market - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 15, 2018--The “Global Molecular Cytogenetics Market - Segmented by Technique, Application, Product, End User, and Geography - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The global molecular cytogenetics market is expected to register a CAGR of nearly 10.5% during the forecast period of 2018 - 2023.
The molecular cytogenetics deals with all aspects of chromosome biology with a wide range of applications in disease diagnosis and chromosomal abnormalities. This market is driven by increasing focus towards the cancer targeted therapy with their increasing prevalence globally.
As per the topographical analysis, North America is expected to sustain the largest growing region due to their well-established healthcare infrastructure with the increase in research and development activities, and high awareness in the society regarding the early disease diagnostics and increasing aging population.
Growing Prevalence of Cancer and Genetic Disorders
The growing prevalence of cancer and genetic disorders patients have a direct rising impact on the increased demand of the molecular cytogenetic market.
The related growth in mortality per year due to cancer in particular, has significantly driven this market. The techniques such as fluorescence in situ hybridization (FISH) has given significant insights regarding cancer genomics with the rapid and precise characterization of chromosomal anomalies for an early diagnosis, prognosis optimization, and opportunity for cure.
The monogenic diseases are highly responsible for the heavy loss of life with a global prevalence of nearly 10/1000 as per the World Health Organization (WHO). Thus, the prevalence of life-threatening diseases plays a vital role in driving this market.
Other driving factors include increasing focus toward the targeted therapy for cancer treatment, the rise in funding for research and clinical diagnosis and technological advancements in cytogenetic techniques.
High Cost of Overall Diagnostic Treatment
The high cost of overall diagnostic treatment related to cytogenetics and hospitalization of patients is one of the primary factors restricting the growth of this market. One of the cases is related to Down syndrome screening programmes where 80% of antenatal karyotypes are generated, and rapid aneuploidy diagnosis (RAD) is one of the standalone approaches but is expensive.
Furthermore, delay in diagnosis and treatment often leads to increased hospitalization stay and overall cost. As per a 2015 published article in the Jornal de Peditria, the high cost limited the widespread use of the chromosomal karyotype such as chromosomal microarrays.
Other factors limiting the growth of this market are the ambiguous scenario of regulatory guidelines and reimbursement, as well as the lack of awareness about the emerging diagnostic technologies for cytogenetics.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
6. Market Dynamics
7. Market Segmentation
8. Competitive Landscape
9. Key Players
10. Future of the Market
Companies MentionedAbbott Agilent Technologies Inc. Applied Spectral Imaging Inc. Bio-Rad Laboratories Inc. Cytognomix Inc. F. Hoffmann-La Roche Ltd Illumina Inc. Perkinelmer Inc. Quest Diagnostics Incorporated Thermo Fisher Scientific
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INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY GENETICS
SOURCE: Research and Markets
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PUB: 05/15/2018 09:43 AM/DISC: 05/15/2018 09:43 AM