LONDON, Feb. 2, 2017 /PRNewswire/ -- The molecular cytogenetics market is projected to reach USD 2.52 billion by 2021 from USD 1.55 billion in 2016, at a CAGR of 10.1% from 2016 to 2021. The global molecular cytogenetics market is segmented based on product, technique, application, end user, and region. The kits and reagents segment is expected to register the highest growth rate in the molecular cytogenetics market, by product, during the forecast period. The high growth in this segment is attributed to the increasing number of rental agreements and increasing incidence of genetic disorders and cancer worldwide. However, the high cost of advanced instruments in emerging economies is restraining the growth of this market.
Based on end users, the molecular cytogenetics market is classified into clinical and research laboratories, academic research institutes, pharmaceutical and biotechnology companies, and others. The clinical and research laboratories segment is expected to account for the largest share of the global molecular cytogenetics market in 2016. The large number of molecular cytogenetic tests performed in clinical and research laboratories will drive the growth of this market during the forecast period.
Geographically, North America dominates the global molecular cytogenetics market. Growth in the North American segment is primarily driven by the rapid growth in the aging population and increasing incidence of genetic disorders and cancer.
The major factors contributing to the growth of the global molecular cytogenetics market include the increasing incidence of genetic disorders and cancer, growing usage of molecular cytogenetic techniques in clinical pathological testing, and rising aging population. On the other hand, high cost of advanced instruments and unfavorable reimbursement scenario are the major factors restraining the growth of this market. The high growth potential in the Asian region provides opportunities for players in the molecular cytogenetics market.
The major players in the molecular cytogenetics market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Abbott Laboratories (U.S.), Agilent Technologies (U.S.), PerkinElmer, Inc. (U.S.), Illumina, Inc. (U.S.), Bio-Rad Laboratories (U.S.), Oxford Gene Technology (U.K.), and Applied Spectral Imaging (U.S.).
Apart from comprehensive geographic and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by players to maintain and increase their shares in the market.
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the molecular cytogenetics market. The report analyses the molecular cytogenetics market by product, technique, application, and end user.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the molecular cytogenetics market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the molecular cytogenetics market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for molecular cytogenetics across geographies
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