Oncology Molecular Diagnostics Market 2024 - By Analysis, Trend, Future Scope, Demand, Leading Key Players And Industry Growth Forecast Till 2033
The Oncology Molecular Diagnostics
Global Market Report 2024 by The Business Research Company provides market
overview across 60+ geographies in the seven regions - Asia-Pacific, Western
Europe, Eastern Europe, North America, South America, the Middle East, and
Africa, encompassing 27 major global industries. The report presents a
comprehensive analysis over a ten-year historic period (2010-2021) and extends
its insights into a ten-year forecast period (2023-2033).
Learn More On The Oncology
Molecular Diagnostics Market:
According to The Business Research
Company’s Oncology Molecular Diagnostics Global Market Report 2024, The
oncology molecular diagnostics market size has grown rapidly in recent years.
It will grow from $4.19 billion in 2023 to $4.84 billion in 2024 at a compound
annual growth rate (CAGR) of 15.6%. The
growth in the historic period can be attributed to market entry of early
tests, genomic profiling advancements, introduction of next-generation
sequencing (ngs), early biomarker identification, targeted therapies
development.
The oncology molecular diagnostics
market size is expected to see rapid growth in the next few years. It will grow
to $7.99 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The
growth in the forecast period can be attributed to advancements in liquid
biopsy, rise of companion diagnostics, integration of artificial intelligence
(ai), expansion of ngs applications, evolving biomarker identification. Major
trends in the forecast period include global accessibility, biomarker discovery
and validation, regulatory framework refinement, technological platform
enhancements, patient-centric care models.
The rise in the number of cancer
cases across the globe is likely to contribute to the growth of the oncology
molecular diagnostics market. According to the American Cancer Society, there
were 1.8 million new cases and 0.6 million cancer deaths in 2021 in the USA.
The four most common types of cancers worldwide are lung, prostate, bowel, and
female breast cancer, accounting for 43% of all new cancer cases. Therefore,
the rise in cancer incidence rate globally is anticipated to boost the demand
for the oncology molecular diagnostics market over the coming years.
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The oncology molecular
diagnostics market covered in this report is segmented –
1) By Product: Instruments,
Reagents, Other Products
2) By Technology:
Polymerase Chain Reaction (PCR), In-situ Hybridization (ISH), Isothermic
Nucleic Acid Amplification Technology (INNAT), Chips & Microarrays,
Sequencing, Mass Spectroscopy, Transcription Mediated Amplification (TMA),
Other Technologies
3) By End User: Hospitals,
Diagnostic Centers, Academic & Research Institutes, Other End Users
Top Major Players
F. Hoffmann-La Roche AG
Bayer AG
Thermo Fisher Scientific Inc.
Abbott Laboratories
Danaher Corporation
The advanced technology in
genomics is a key trend in the oncology molecular diagnostics market.
Advancements in cancer genome sequencing technology, computational analysis,
tumor models, and innovation of modern cancer research methods promote early
detection of cancer and its mutation. For instance, in December 2021, Thermo
Fisher Scientific Inc. a US-based company that manufactures oncology molecular
diagnostics received FDA approval for an NGS-based companion diagnostic test
that is used by non-small cell lung cancer patients. This test would assist
medical professionals in deciding whether these patients would benefit from
treatment with Janssen Biotech's targeted medication RYBREVANT
(amivantamab-vmjw) .
The oncology molecular
diagnostics market report table of contents includes:
1. Executive Summary
2. Oncology Molecular Diagnostics
Market Characteristics
3. Oncology Molecular Diagnostics
Market Trends And Strategies
4. Oncology Molecular Diagnostics
Market - Macro Economic Scenario
5. Global Oncology Molecular
Diagnostics Market Size and Growth
............................
32. Global Oncology Molecular
Diagnostics Market Competitive Benchmarking
33. Global Oncology Molecular
Diagnostics Market Competitive Dashboard
34. Key Mergers And Acquisitions
In The Oncology Molecular Diagnostics Market
35. Oncology Molecular Diagnostics
Market Future Outlook and Potential Analysis
36. Appendix
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