Cytogenetics Market size is estimated to the USD 2.5 bn in 2021 and poised to grow at significant CAGR of nearly 9.8% over 2022-2028. Due to the increase in the geriatric population and rising prevalence of genetic disorders fueling the market growth. Additionally, cytogenetics is the study of chromosomes in the body to understand and treat genetic disorders such as cancer, sickle cell anemia, Down’s syndrome, cystic fibrosis, and others. Moreover, technological advancement for new innovations in the medical sector and rising demand for high-quality medical treatment boosts of the cytogenetics market growth. However, High capital cost of investments and funds, lack of trained professionals, difficulty inaccuracy, and high treatment cost are the major factors that hinder the growth of the market. Nowadays, due to the rising geriatric population and rising prevalence in genetic disorders such as cancer, Down’s syndrome, sickle cell anemia, and others boosting the market growth. Additionally due to its excellent development in the medical sectors and new innovations wide range of techniques such as fluorescence in situ hybridization, comparative genomic hybridization, karyotyping and others are employed for the screening of genetic abnormalities and cancers. Cytogenetics provides accurate results about the chromosomes in the cells and tissues which are useful in the study of different genetic disorders. Thus diagnosis and targeted treatments can be performed. Technological advancements, rising disposable incomes, and various research and development in the field of medical science are some of the key factors which are rising the demand of the cytogenetics market.
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This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global cytogenetics market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global cytogenetics market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities).
North America accounted for larger revenue share in global cytogenetics market with considerable CAGR. The growth in this region, especially in emerging economies such as US and Canada can be attributed to rising in the usage of cytogenetics in different diagnosis and treatments. Additionally, growing economy, high investment and availability of skilled professionals. European market dominates by advanced technology in the medical sector and high investment and funds. In Asia Pacific cytogenetics market is largely driven by the rising population, and skilled manpower, increase in disposable incomes and government emphasis on the public healthcare.
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There are several industry players working in the Cytogenetics Market, which include Hoffmann-La Roche Ltd., Danaher Corporation, Thermo Fisher Scientific, Abbott Laboratories, Agilent Technologies, PerkinElmer, Inc.
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