Oncology Molecular Diagnostics Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Oncology Molecular Diagnostics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $7.99 billion In 2028 At A CAGR Of 13.3% :

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.

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Oncology Molecular Diagnostics Market Major Segments
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

Key Driver - Global Surge In Cancer Cases Fuels Growth Of Oncology Molecular Diagnostics Market

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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Prominent Trend - Revolutionizing Oncology Molecular Diagnostics Through Advanced Genomics Technology

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) .

Oncology Molecular Diagnostics Market Players
Major companies operating in the oncology molecular diagnostics market report are F. Hoffmann-La Roche AG, Bayer AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthcare AG, Becton Dickinson and Company, Agilent Technologies Inc., HTG Molecular Diagnostics Inc., Hologic Inc., Illumina Inc., bioMérieux SA, Charles River Laboratories India Pvt. Ltd., Beckman Coulter Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., Qiagen N.V., Exact Sciences Corp., Bio-Techne Corporation, OPKO Health Inc., Myriad Genetics Inc., Guardant Health AMEA, Veracyte Inc., Adaptive Biotechnologies Corp., Foundation Medicine Inc., Pacific Biosciences of California Inc., NanoString Technologies lnc., TBG Diagnostics Limited, The Genetics of Cancer, Genomic Health Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the oncology molecular diagnostics market in 2023. Western Europe was the second largest region in the global oncology molecular diagnostics market report. The regions covered in the oncology molecular diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Oncology Molecular Diagnostics Market Report Structure
3. Oncology Molecular Diagnostics Market Trends And Strategies
4. Oncology Molecular Diagnostics Market - Macro Economic Scenario
5. Oncology Molecular Diagnostics Market Size And Growth
…..
27. Oncology Molecular Diagnostics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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