The increasing incidence of cancer is one of the biggest factors responsible for the growing demand for molecular cytogenetics methods. This is because various molecular cytogenetics methods are heavily adopted for cancer diagnostic purposes. Besides this, the surging number of cancer research projects being conducted in several countries is also fueling the demand for molecular cytogenetics, on account of the fact that advanced methods are required for gaining a better understanding of the disease at the chromosomal level.
Apart from the aforementioned factors, the rising adoption of pharmacogenomics for drug development and disease management is also contributing toward the soaring popularity of molecular cytogenetics across the world. Rapid advancements and innovations in pharmacogenomics (PGx) are causing the uncovering of genetic basis for interindividual variations in drug responses. With the USFDA approving the labeling of pharmacogenetic test information on certain selected drugs, the demand for molecular cytogenetics would surge in the coming years.
Furthermore, according to the forecast of P&S Intelligence, a market research company based in India, the value of the market would grow from $1.8 billion to $3.3 billion from 2017 to 2023. Based on technology, molecular cytogenetics is divided into karyotyping, immunohistochemistry (IHC), fluorescence in-situ hybridization (FISH), and comparative genomic hybridization (CGH). Amongst these, the demand for the FISH technology is expected to rise enormously over the next few years.
This would be because of the wide-ranging applications of this technology in disease diagnosis and prognosis and rapid technological advancements in this domain. This technology is further divided into standard CGH and array-based CGH, between which, the popularity of the array-based CGH technology was higher in the past. Personalized medicine, genetic disorders, and cancer are the main application areas of molecular cytogenetics. Amongst these, the adoption of molecular cytogenetics was the highest in cancer treatment in the past years.
Geographically, the molecular cytogenetics market is expected to demonstrate the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. This would be a result of the existence of an untapped industry, the entry of several global market players that provide cytogenetic testing, and the presence of a huge population in this region. The enactment of various government initiatives such as testing, training, and funding programs for medical researchers is also driving the market advancement in this region.
Thus, it is safe to say that the demand for molecular cytogenetics would skyrocket around the world in the forthcoming years, mainly because of the growing incidence of cancer and rapid technological advancements and innovations in medical research and disease diagnosis and prognosis processes.
0
