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 high incidence and large economic burden of genetic disorders and cancer and rise in healthcare expenditure has resulted in the increasing use of molecular cytogenetic products in clinical and research laboratories, academic research institutes, and pharmaceutical and biotechnology companies.
This market is segmented based on product, technique, application, end user, and region. On the basis of products, the market is segmented into kits and reagents, instruments, consumables, and software and services. The kits and reagents segment is expected to account for the largest share of the global market in 2016.
Based on techniques, the molecular cytogenetics market is segmented into comparative genomic hybridization, fluorescence in situ hybridization, in situ hybridization, and other techniques. Comparative genomic hybridization forms the largest and fastest-growing technology segment in the market.
Based on applications, the market is segmented into genetic disorders and cancer, personalized medicine, and other applications. Genetic disorders forms the largest and fastest-growing application segment in the market.
Based on end users, the molecular cytogenetics market is segmented 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 market in 2016.
The global molecular cytogenetics market is dominated by North America, followed by Europe. North America will continue to dominate the market in the forecast period. However, the market in Asia is expected to witness the highest CAGR, with the growth centered on China, Japan, and India.