Global Oncology Molecular Diagnostics Market 2024

Global Oncology Molecular Diagnostics Market 2024

Oncology molecular diagnostics have revolutionized cancer diagnosis and treatment by identifying genetic, molecular, and cellular changes in cancer cells. Companion diagnostics are crucial in drug development, ensuring personalized treatment based on patient-specific molecular profiles. Partnerships drive innovation in molecular tests, while immuno-oncology treatments and advanced technologies improve patient outcomes. Rising cancer prevalence underscores the need for accurate diagnostics, leading to a transformation in precision cancer care.

The global oncology molecular diagnostics market is expected to increase by USD 4.9 billion, at a compound annual growth rate (CAGR) of 13.4% from 2024 to 2030, according to the latest edition of the Global Oncology Molecular Diagnostics Market Report.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product type, cancer type, technology, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global oncology molecular diagnostics market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for oncology molecular diagnostics can be segmented by product type: instruments & platforms, kits & reagents. Kits & reagents held the largest share in the global oncology molecular diagnostics market, accounting for 74.7% of the market in 2023. Moreover, the segment is anticipated to grow at the highest CAGR in the coming years.

Oncology molecular diagnostics market is further segmented by cancer type: blood cancer, breast cancer, colorectal cancer, lung cancer, others. The breast cancer segment is estimated to account for the largest share of the global oncology molecular diagnostics market, representing more than 25.2% of the total market.

Based on technology, the oncology molecular diagnostics market is segmented into: hybridization, isothermal nucleic acid amplification technology (INAAT), polymerase chain reaction (PCR), sequencing, others. The PCR segment held the largest share of the global oncology molecular diagnostics market in 2023, representing more than 40.7% of the total market.

On the basis of end user, the oncology molecular diagnostics market also can be divided into: diagnostic laboratories, hospitals, others.

Oncology molecular diagnostics market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America held the highest share in the global oncology molecular diagnostics market. However, Asia-Pacific is forecast to register the highest CAGR during the forecast period 2024 - 2030.

The market research report covers the analysis of key stake holders of the global oncology molecular diagnostics market. Some of the leading players profiled in the report include Abbott Laboratories, Agilent Technologies Inc., Becton, Dickinson and Company (BD), BillionToOne Inc., Biocartis SA, bioMérieux SA, Bio-Rad Laboratories, Inc., Caris Life Sciences, Inc. (Caris), Danaher Corporation, EXACT Sciences Corporation, F. Hoffmann-La Roche Ltd., Guardant Health, Inc., Hologic, Inc., Illumina, Inc., Laboratory Corporation of America Holdings, Lepu Medical Technology Co., Ltd., Myriad Genetics, Inc., QIAGEN N.V., Siemens Healthineers AG, Sysmex Corporation, Thermo Fisher Scientific Inc., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Gain a reliable outlook of the global oncology molecular diagnostics market forecasts from 2024 to 2030 across scenarios.

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The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global Oncology Molecular Diagnostics Industry Analysis:

i.) Product type

• Instruments & platforms
• Kits & reagents

ii.) Cancer type

• Blood cancer
• Breast cancer
• Colorectal cancer
• Lung cancer
• Others

iii.) Technology

• Hybridization
• Isothermal nucleic acid amplification technology (INAAT)
• Polymerase chain reaction (PCR)
• Sequencing
• Others

iv.) End user

• Diagnostic laboratories
• Hospitals
• Others

v.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America