Cytogenetic Systems Market to Reach USD 4.5 Billion by 2028

Vantage Market Research

Nov 12, 2021

According to a new report by Vantage Market Research, the cytogenetic systems market is expected to reach USD 4.5 Billion by 2028, growing at a CAGR of 8.2% from 2021 to 2028. Increasing demand for early diagnosis of serious diseases which are life-threatening like cancer and examination of disorders owing to chromosomal anomalies in emerging embryos are the main determinants for the growth of the global Cytogenetic Systems market.

Key Findings:    

  • Fluorescence In Situ Hybridization (FISH) segment of type segment, for cytogenetic systems market, is anticipated to grow at fastest CAGR over the forecast period owing to an increase in the number of patients suffering from genetic disorders such as cancer, sickle cell anemia, cystic fibrosis, Down’s syndrome, and others.
  • The Genetic Disorders segment of application segment, for cytogenetic systems market, is projected to be the dominating segment for the market owing to the presence of a huge base of the population suffering from genetic disorders.
  • North America is expected to grow at the fastest CAGR of over 11.12% from 2021 to 2028. This surge is attributed to the rising demand for cytogenetics from countries like the U.S., as it can be is used in the development of personalized medicine, targeted cancer treatment, and others.

Some of the key players in Cytogenetic Systems Market include ADS Biotec Inc., Genial Genetics, Laboratory Imaging s.r.o., MetaSystems, Agilent Technologies, Cytocell Ltd, Leica Biosystems Nussloch GmbH, Applied Spectral Imaging, Irvine Scientifi­c, PerkinElmer Inc., Bio-Rad Laboratories, Inc., Abbott Laboratories., among others.

The market growth is attributed to the increasing base of the geriatric population, increasing exposure to harmful ultraviolet rays and chemicals. Also, the adoption of alcohol consumption, smoking, and sedentary lifestyle is also increasing leading to an increase in the base of the population suffering from diseases such as cancer and other chronic diseases. As, cytogenetics is used in the development of personalized medicine, targeted cancer treatment, and others, these factors are projected to boost the cytogenetic systems market growth in the near future over the forecast period. Moreover, the number of genetic disorders is also increasing tremendously. Thus, making a large pool of population suffering from genetic disorders further increases the demand for cytogenetic systems, furthermore leading to propel the cytogenetic systems market growth over the forecast period. Technical complexities and limitations related to the equipment, lack of knowledge with regard to advanced technological procedures particularly in middle and low-income nations, and huge cost of sophisticated devices are factors restraining the growth.

North America region is expected to hold the largest share and have the fastest CAGR for the cytogenetic systems market over the forecast period. The U.S. is anticipated to hold the largest share in the North American region owing to the rising demand for cytogenetics, as it can be is used in the development of personalized medicine, targeted cancer treatment, and others.