The global oncology molecular diagnostic market size was valued at USD 2.45 billion in 2023 and is expected to grow around USD 7.71 billion by 2033 with a CAGR of 12.20% from 2024 to 2033.
Key Takeaways
- North America contributed more than 41% of the market share in 2023.
- Asia-Pacific is estimated to expand the fastest CAGR between 2024 and 2033.
- By type, the breast cancer segment generated over 22% of the market share in 2023.
- By type, the liver cancer segment is anticipated to grow at a remarkable CAGR of 13.9% between 2024 and 2033.
- By technology, the polymerase chain reaction (PCR) segment generated over 32% of the market share in 2023.
- By technology, the sequencing segment is expected to expand at the fastest CAGR over the projected period.
- By product, the reagents segment generated over 59% of market share in 2023.
- By product, the instruments segment is expected to expand at the fastest CAGR over the projected period.
The Oncology Molecular Diagnostic Market is a dynamic sector within the broader healthcare industry, specializing in the diagnosis and assessment of cancer through molecular techniques. This market plays a crucial role in providing precise and personalized information about the genetic makeup of tumors, aiding in treatment decisions and patient care. The integration of molecular diagnostics into oncology has significantly transformed the landscape of cancer diagnosis and management.
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Growth Factors:
Several factors contribute to the robust growth of the Oncology Molecular Diagnostic Market. Advancements in genomic technologies, such as next-generation sequencing (NGS) and polymerase chain reaction (PCR), have empowered healthcare professionals to analyze genetic alterations with unprecedented accuracy. The increasing prevalence of cancer cases globally has also driven the demand for reliable and efficient diagnostic tools, fostering market expansion. Additionally, a growing awareness of the benefits of early cancer detection and the rising trend of personalized medicine further propel the market’s growth.
Oncology Molecular Diagnostic Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 12.20% |
| Global Market Size in 2023 | USD 2.45 Billion |
| Global Market Size by 2033 | USD 7.71 Billion |
| U.S. Market Size in 2023 | USD 0.70 Billion |
| U.S. Market Size by 2033 | USD 2.25 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Type, By Technology and By Product |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Read More: Flexitank Market Size To Rise USD 10.25 Billion By 2033
Market Dynamics
Drivers:
Key drivers influencing the Oncology Molecular Diagnostic Market include the rising incidence of various cancer types, prompting the need for precise and rapid diagnostic solutions. The increasing adoption of targeted therapies and immunotherapies, which often require molecular profiling for treatment decisions, is a significant driver. Collaborations between diagnostic companies and pharmaceutical firms to develop companion diagnostics for specific therapies also contribute to market growth.
Opportunities:
The Oncology Molecular Diagnostic Market presents exciting opportunities for innovation and expansion. Ongoing research and development efforts to identify novel biomarkers and therapeutic targets open doors for the introduction of new diagnostic assays and technologies. Furthermore, the integration of artificial intelligence (AI) and machine learning in data interpretation enhances the potential for more accurate and efficient molecular diagnostics. Emerging markets, with a growing emphasis on healthcare infrastructure development, offer untapped opportunities for market players to expand their reach.
Challenges:
Despite its promising outlook, the Oncology Molecular Diagnostic Market faces challenges. The high cost associated with molecular diagnostic tests poses a barrier to widespread adoption, particularly in resource-limited settings. Regulatory complexities and the need for rigorous validation of diagnostic assays add to the challenges. Additionally, ensuring the standardization of molecular testing procedures and managing the vast amounts of data generated in genomic analysis present ongoing hurdles for industry stakeholders. Overcoming these challenges is crucial for the sustained growth and advancement of the market.
Reasons to Purchase this Report:
- Comprehensive market segmentation analysis incorporating qualitative and quantitative research, considering the impact of economic and policy factors.
- In-depth regional and country-level analysis, examining the demand and supply dynamics that influence market growth.
- Market size in USD million and volume in million units provided for each segment and sub-segment.
- Detailed competitive landscape, including market share of major players, recent projects, and strategies implemented over the past five years.
- Comprehensive company profiles encompassing product offerings, key financial information, recent developments, SWOT analysis, and employed strategies by major market players.
Recent Developments in the Oncology Molecular Diagnostic Market
- In December 2020, Veracyte Inc. and Bayer AG initiated a collaboration to enhance the Precision Oncology Patient Identification Program, specifically focusing on thyroid cancer. This partnership aims to utilize Veracyte’s Afirma Xpression Atlas (XA) for testing, identifying genomic drivers in tumor cells. The program is anticipated to benefit patients with advanced thyroid cancer by enabling personalized treatment strategies based on biomarker-driven therapies.
- In February 2020, Danaher, through its subsidiary Cepheid, announced a collaboration with Sherlock Biosciences to explore the development of innovative molecular diagnostic tests using CRISPR technology. The focus of this collaboration extends to oncology and infectious diseases, signaling a joint effort to advance groundbreaking diagnostic solutions for improved patient care and disease management.
Oncology Molecular Diagnostic Market Companies
- Roche Diagnostics
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
- Illumina, Inc.
- Qiagen N.V.
- Bio-Rad Laboratories, Inc.
- Genomic Health, Inc.
- Myriad Genetics, Inc.
- Agilent Technologies, Inc.
- Siemens Healthineers
- Danaher Corporation (Cepheid)
- Sysmex Corporation
- Hologic, Inc.
- Guardant Health, Inc.
- Foundation Medicine, Inc.
Segments Covered in the Report:
By Type
- Breast Cancer
- Prostate Cancer
- Colorectal Cancer
- Cervical Cancer
- Liver Cancer
- Lung Cancer
- Blood Cancer
- Kidney Cancer
- Other Cancer
By Technology
- PCR
- In Situ Hybridization
- INAAT
- Chips and Microarrays
- Mass Spectrometry
- Sequencing
- TMA
- Others
By Product
- Instruments
- Reagents
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Oncology Molecular Diagnostic Market
5.1. COVID-19 Landscape: Oncology Molecular Diagnostic Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Oncology Molecular Diagnostic Market, By Type
8.1. Oncology Molecular Diagnostic Market Revenue and Volume, by Type, 2024-2033
8.1.1 Breast Cancer
8.1.1.1. Market Revenue and Volume Forecast (2021-2033)
8.1.2. Prostate Cancer
8.1.2.1. Market Revenue and Volume Forecast (2021-2033)
8.1.3. Colorectal Cancer
8.1.3.1. Market Revenue and Volume Forecast (2021-2033)
8.1.4. Cervical Cancer
8.1.4.1. Market Revenue and Volume Forecast (2021-2033)
8.1.5. Liver Cancer
8.1.5.1. Market Revenue and Volume Forecast (2021-2033)
8.1.6. Lung Cancer
8.1.6.1. Market Revenue and Volume Forecast (2021-2033)
8.1.7. Lung Cancer
8.1.7.1. Market Revenue and Volume Forecast (2021-2033)
8.1.8. Blood Cancer
8.1.8.1. Market Revenue and Volume Forecast (2021-2033)
8.1.9. Kidney Cancer
8.1.9.1. Market Revenue and Volume Forecast (2021-2033)
8.1.10. Other Cancer
8.1.10.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 9. Global Oncology Molecular Diagnostic Market, By February
9.1. Oncology Molecular Diagnostic Market Revenue and Volume, by February, 2024-2033
9.1.1. Cathode
9.1.1.1. Market Revenue and Volume Forecast (2021-2033)
9.1.2. Anode
9.1.2.1. Market Revenue and Volume Forecast (2021-2033)
9.1.3. Electrolyte
9.1.3.1. Market Revenue and Volume Forecast (2021-2033)
9.1.4. Separator
9.1.4.1. Market Revenue and Volume Forecast (2021-2033)
9.1.5. Others
9.1.5.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 10. Global Oncology Molecular Diagnostic Market, By March
10.1. Oncology Molecular Diagnostic Market Revenue and Volume, by March, 2024-2033
10.1.1. Consumer
10.1.1.1. Market Revenue and Volume Forecast (2021-2033)
10.1.2. Automotive
10.1.2.1. Market Revenue and Volume Forecast (2021-2033)
10.1.3. Industrial
10.1.3.1. Market Revenue and Volume Forecast (2021-2033)
10.1.4. Cheese
10.1.4.1. Market Revenue and Volume Forecast (2021-2033)
10.1.5. Others
10.1.5.1. Market Revenue and Volume Forecast (2021-2033)
Chapter 11. Global Oncology Molecular Diagnostic Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.1.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.1.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.1.4. U.S.
11.1.4.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.1.4.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.1.4.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.1.5.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.1.5.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.2. Europe
11.2.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.2.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.2.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.2.4. UK
11.2.4.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.2.4.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.2.4.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.2.5. Germany
11.2.5.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.2.5.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.2.5.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.2.6. France
11.2.6.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.2.6.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.2.6.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.2.7.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.2.7.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.3. APAC
11.3.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.3.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.3.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.3.4. India
11.3.4.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.3.4.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.3.4.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.3.5. China
11.3.5.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.3.5.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.3.5.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.3.6. Japan
11.3.6.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.3.6.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.3.6.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.3.7.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.3.7.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.4. MEA
11.4.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.4.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.4.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.4.4. GCC
11.4.4.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.4.4.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.4.4.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.4.5. North Africa
11.4.5.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.4.5.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.4.5.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.4.6. South Africa
11.4.6.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.4.6.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.4.6.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.4.7.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.4.7.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.5. Latin America
11.5.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.5.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.5.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.5.4. Brazil
11.5.4.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.5.4.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.5.4.3. Market Revenue and Volume Forecast, by March (2021-2033)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Volume Forecast, by Type (2021-2033)
11.5.5.2. Market Revenue and Volume Forecast, by February (2021-2033)
11.5.5.3. Market Revenue and Volume Forecast, by March (2021-2033)
Chapter 12. Company Profiles
12.1. Roche Diagnostics
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Abbott Laboratories
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Thermo Fisher Scientific Inc.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Illumina, Inc.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Qiagen N.V.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Bio-Rad Laboratories, Inc.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Genomic Health, Inc.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Myriad Genetics, Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Agilent Technologies, Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Siemens Healthineers
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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