Wilmington, Delaware, United States, Transparency Market Research Inc.: The global cytogenetics market is expected to witness strong growth during the forecast period between 2021 and 2031.
Wilmington, Delaware, United States, Transparency Market Research Inc.: The global cytogenetics market is expected to witness strong growth during the forecast period between 2021 and 2031.
Cytogenetics is a unit of genetics that studies the evolution, function, and structure of chromosomes. Chromosomes refer to genetic substances which are part of cells and tissues in different banding patterns and structures. Cytogenetic maps are deployed to position chromosomes depending on banding patterns.
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COVID-19 pandemic adversely affected growth in global cytogenetics market. With rising cases globally, governments were forced to impose strict social distancing regulations and lockdowns in a bid to contain the spread of the virus.
This led to closing down of research laboratories either temporarily or permanently, which postponed clinical trials and in turn, impacted the cytogenetics demand.
However, with most population sections double vaccinated and approval given to the use of a third dose it anticipated that research laboratories will resume operations soon, leading to increased demand for cytogenetics and positively impacting growth in overall market.
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Cytogenetics Market - Trends and Opportunities
Rising prevalence of cancer in leading economies globally has emerged as key growth driver for global cytogenetics market.
Increasing population sections suffering from cancer could also positively impact sales of cancer diagnostics tests and fuel the growth in overall sales of cancer diagnostic tests market.
Rising focus to treat patients suffering from cancer is also projected to augment the growth in cytogenetics market.
Growing aging population in leading economies worldwide is anticipated to propel global cytogenetics market, in the coming years.
Other factors such as increasing expenditure on healthcare, growth in medical tourism, and supportive reimbursement policies from governments in prominent countries worldwide could also help create significant amount for prominent cytogenetics market players, in the years ahead.
Comparative genomic hybridization technique emerged as largest contributor, in terms of revenue, to overall cytogenetics market because of increased deployment in cancer studies and identification of DNA sequences in leading economies globally.
Cancer application segment contributed the most to global market since cytogenetics has emerged as most suitable method to achieve improved patient results.
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Cytogenetics Market - Competitive Landscape
The global cytogenetics market is highly competitive, with the presence of several prominent market players. Many of these players have become successful owing to years of delivering consistent results and are expected to account for a large share in overall market, in future.
R&D undertakings could be key, revenue-generating strategy for well-established cytogenetics market players in the coming years.
Prominent market players could sign collaborative agreements with smaller players in a bid to expand their market presence and increase their revenue shares.
Well-established cytogenetics market players could establish R&D centers in leading economies globally that would function exclusively to develop a better understanding of cytogenetics.
Some of the leading players in global cytogenetics market include Abbott Laboratories, Agilent Technologies Inc., Thermo Fischer Scientific Inc., Iluimina Inc., and Sysmex Corporation.
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Cytogenetics Market - Regional Assessment
The global cytogenetics market is divided into four regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
North America is expected to emerge as maximum revenue-generating in global cytogenetics market because of increased adoption of advanced products and presence of several manufacturers in countries such as US and Canada.
Latin America is expected to witness significant growth in overall cytogenetics market owing to increasing cancer prevalence in countries such as Brazil, contributing hugely to market growth in the region.
Asia Pacific is projected to witness strong growth in cytogenetics market due to rising awareness among patients about various chronic diseases such as cancer and rising disposable income among families residing in countries such as India.
Other parts of the world such as Europe and Middle East and Africa are projected to witness moderate growth in global cytogenetics market.
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