The Global Cytogenetics Market generated $1,121 million in 2017 and is expected to garner $3,097 million by 2025, growing at a CAGR of 13.5% during the forecast period, 2018-2025.
The growth of the global cytogenetics market is driven by surge in prevalence of cancer & genetic disorders, rise in geriatric population worldwide, and increased awareness of personalized medicine globally. Additionally, shift from fish to array-based techniques is anticipated to provide lucrative opportunities to emerging market players in the near future. However, the astronomical cost of advanced cytogenetic instruments is expected to hamper market growth.
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The report segments the global cytogenetics market by product, technique, application, end user, and geography. Based on product, the market is fragmented into consumables, testing kits, media, & reagents, instruments, and software & services. The testing kits, media, & reagents segment dominated the global market in 2017, accounting for approximately three-fourths share. However, the software & services segment is expected to grow at the fastest rate during the forecast period. Based on technique, the report sub-segments the market into comparative genomic hybridization, fluorescence in situ hybridization (FISH), karyotyping, immunohistochemistry, and others. The comparative genomic hybridization segment dominated the market in 2017 and is expected to grow at the highest CAGR of 10.5% from 2018 to 2025.
The market is categorized into genetic disorders, cancer, personalized medicine, and others based on application. Based on end user, the report divides the market into clinical & research laboratories, pharmaceutical & biotechnology companies, academic research institutes, and others. The pharmaceutical & biotechnology companies segment is anticipated to record a high CAGR during the forecast period. Regionally, North America was the leading revenue contributor to the global market in 2017 and is expected to dominate during the forecast period. This is attributed to the presence of majority of major key players in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to increase in affordability, surge in healthcare expenditure, and rise in awareness towards early screening of genetic disorders.
The report also profiles key players involved in the global cytogenetics market, such as Abbott Laboratories, Agilent Technologies, Inc., Applied Spectral Imaging, Inc., Empire Genomics, LLC., Illumina, Inc., Irvine Scientific., OPKO Health, Inc. (GeneDx.), PerkinElmer Inc., Sysmex Corporation (Oxford Gene Technology), and Thermo Fisher Scientific, Inc. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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