Global Molecular Cytogenetics Market was valued at US$ 1,970.8 Mn in 2019 and is forecast to reach a value of US$ 11,129.1 Mn by 2027 at a CAGR of 24.2% between 2020 and 2027

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Molecular Cytogenetics
Molecular Cytogenetics

Cytogenetics is the study of the structure and function of a cell (chromosome) as well as gene abnormalities in disease. Molecular cytogenetics is a branch of molecular biology that combines with cytogenetics. Unfavorable reimbursement policies are a significant impediment to the growth of the global Molecular Cytogenetics Market. Insurance companies are refusing to pay for molecular diagnostic tests. Furthermore, the high cost of genetic testing is expected to limit the market growth. These tests, which are considered the most important technologies for early detection, typically cost between $300 and $3,000 per test.

Drivers of the Global Molecular Cytogenetics Market

Over the forecast period, the rising adoption of molecular cytogenetics is expected to drive Growth in The Global Molecular Cytogenetics Market. For example, Bionano Genomics, Inc. announced in October 2019 that leading organizations, including PerkinElmer Genomics and the University of Iowa, have adopted Saphyr for use in clinical genomics laboratories. Furthermore, the rising prevalence of cancer is expected to increase the use of molecular cytogenetics.

According to the American Cancer Society, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the United States in 2019. Furthermore, the rising prevalence of cancer and genetic disorders in emerging economies is expected to drive demand for molecular cytogenetic technologies in these countries. According to the World Health Organization, the number of new cancer cases diagnosed in Africa per year is expected to rise from more than 1 million in 2018 to more than 2.1 million in 2040.

Opportunities in the Global Molecular Cytogenetics Market

Tapping in emerging economies is expected to provide lucrative growth opportunities for global Molecular Cytogenetics Market participants. Because of the high level of public awareness and adoption, FISH and array-based technologies have a high penetration rate in developed economies such as the United States and Europe. However, due to low patient awareness levels, emerging Asian and Latin American economies have low adoption rates. Economic developments in these regions, combined with rising disposable income and increased awareness, are directing medical practitioners' attention to molecular tests.

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