Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- A new report published by Transparency Market Research (TMR) is titled "Molecular Cytogenetics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". The report discusses the primary growth drivers, market restraints, trends, and dynamics of the global market. Additionally, it points out the strengths, weaknesses, opportunities, and threats that the global molecular cytogenetics market faces. According to the report, the global molecular cytogenetics market was estimated at US$469.2 million in 2012 and is anticipated to reach US$1.9 billion in 2019, developing at a CAGR of 23.4% between 2013 and 2019.
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The global molecular cytogenetics market is segmented on the basis of technology and geography. The technology segment of the global molecular cytogenetics market comprises FISH and aCGH. These techniques form the backbone of gene discovery, gene mapping, and complex disease trait analysis. Molecular cytogenetics enables pathologists to understand diseases in greater detail. It enables them to make an accurate diagnosis and prognosis of diseases related to hematological malignancies and solid tumors at a molecular level.
Today the cytogenetics field stretches from identification of chromosome structure to assessment of structural and functional genetic anomalies. FISH holds the largest share in the global molecular cytogenetics market as it allows interpretation of information at a genome level. The reason FISH enjoys such a huge share is that it offers an accurate, speedy, sensitive, and high-resolution result. This segment is likely to grow in the coming years due to technological advancements such as digital imaging and enhanced fluroscence microscopes. The FISH segment in the global molecular cytogenetics market will also be encouraged by the increasing investment in the field of bioinformatics and genomics. The aCGH technique has also been gaining pace along with FISH as it offers a higher resolution result. Analysts predict this segment will grow at a CAGR of more than 20% in the coming few years.
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Geographically, the global molecular cytogenetics market is divided into North America, Europe, Asia Pacific, and Rest of the World. Presently, North America holds the largest share in the global molecular cytogenetics market, closely followed by Europe. The growth in these regions is fueled by increasing public awareness and a huge pool of research laboratories. This growth can also be attributed to rising incidences of chronic diseases such as cancer and the subsequent need for personalized medicines.
Analysts predict that Asia Pacific will grow at a rapid pace in the coming few years. Huge population base and educated public will drive this market as well. Additionally, genetically transmitted disorders due to consanguineous marriages in these regions will accelerate the growth of the molecular cytogenetics market.
The global molecular cytogenetics market consists of key players such as Agilent Technologies Inc., Abbott Laboratories, Affymetrix, Inc., Applied Spectral Imaging, Illumina, Inc., and Life Technologies Corporation.
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Source:Transparency Market Research