Oncology Molecular Diagnostics Market 2024 – Growth Size, Business Opportunities, Trends, Regional Overview, Leading Companies And Forecast To 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).

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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
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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