Molecular Diagnostics Market SWOT Analysis Key Insights, Profiling Companies and Growth Strategies

The demand within the global market molecular cytogenetics has been escalating on account of key advancements in the field of genetics, gene therapy, and chromosomal study. Molecular cytogenetics is the field of biological sciences that deals with the study of chromosomal patterns with the help of molecular structures. It has significantly helped in studying several diseases related to aberrations in chromosomes of humans and animals. The field of research and diagnosis has also witnessed the unfurling of several new avenues due to advancements in the field of molecular cytogenetics. The precision and exactness offered by chromosomal cytogenetics is commendable, and this is another key factor that has popularised this technique.

The traditional technique of chromosomal banding has become outdated because of its low resolution and the risk of several chromosomes going undetected. Another key driver of demand within the global market for molecular cytogenetics is the development of nascent cytogenetic technologies such as aCHG and FISH. In recent times, research in the areas of gene mapping, disease trait analysis, and diagnosis has also become quite prominent which has aided the growth of the global market. Besides this, the domain of gene discovery is also gathering momentum which shall further escalate demand within the global market for molecular cytogenetics. Personalised medication and prognosis of tumours are amongst other fields that have bank on the successful execution molecular cytogenetics.

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A report by Transparency Market Research (TMR) on the global market for molecular cytogenetics sheds light on several key factors that have aided the growth of this market. The report predicts that the global market molecular cytogenetics would expand at a stellar CAGR of 23.40% over the period between 2013 and 2019. Furthermore, the report states that the global molecular cytogenetics market is expected to accumulate revenues worth USD 1.9 billion by 2019, rising up from a value of USD 469.2 million in 2012.

aCGH Technology Attracts More Demand than FISH Technology

Based on the technology used for molecular cytogenetics, the demand for aCGH technology has been higher as compared to FISH technology. This owes to the fact that array-competitive genomic hybridization (aCHG) offers a higher level of resolution than other similar technologies. Furthermore, diagnosis of diseases can also be done with a greater level of scrutiny through the deployment of aCGH technologies. On the basis of application, molecuclar cytogenetics is used for diagnosis, treatment, and study of cancers, genetic disorders, and for the production of personalised medicine. Amongst these applications, the molecular cytogenetics is extensively used for the development of personalised medications followed by the diagnosis of genetic disorders.

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Europe to Emerge as Leading Regional Segment

The demand within the market for molecular cytogenetics in Europe has reached new heights due to regional developments in the field of genetics and presence of several research laboratories in the region. Furthermore, the market for molecular cytogenetics in Asia Pacific is also expected to bode well on account of the rising population. Furthermore, consanguine marriages in India and China have increased the incidence of genetic disorders amongst humans which has further propelled regional market growth. The rising incidence of genetic disorders and cancers in the US and Canada has given an impetus to the growth of the molecular cytogenetics market in North America.

Some of the key players in the global market for molecular cytogenetics are Applied Spectral Imaging, Abbott Laboratories, Affymetrix, Inc., Illumina, Inc., Agilent Technologies, Inc., and Life Technologies Corporation.