123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Molecular Oncology Diagnostics Market Top Trends And Key Players Analysis Report 2022 - 2032

Profile Picture
By Author: bis research
Total Articles: 68
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Global molecular oncology diagnostics market is a well-established market and is expected to grow further in the coming years due to the continuous increase in the demand for innovative products in molecular oncology diagnostics.

The global molecular oncology diagnostics market was valued at $3,620.6 million in 2021 and is anticipated to reach $12,130.5 million by 2032, witnessing a CAGR of 11.43% during the forecast period 2022-2032. The growth in the global molecular oncology diagnostics market is expected to be driven by the rising prevalence of cancers and increased transformations in biomarker identification.

Molecular Oncology Diagnostics Market

Impact

• The presence of major kit and assay providers of molecular oncology diagnostics has a major impact on the market. For instance, in March 2021, Biocartis NV launched Idylla GeneFusion Assay as a Rapid Lab Workflow Solution for gene fusion testing. This product provides a much faster testing solution for laboratories in comparison to other testing ...
... methods, including NGS.
• Companies such as Bio-Rad Laboratories, Inc., in August 2022, acquired Curiosity Diagnostics. The company acquired all the outstanding shares of the latter from Scope Fluidics, S.A. for its growth in the medical diagnostic and healthcare markets, for a total consideration of up to $170 million. Similarly, in February 2022, Becton and Dickinson Company (BD) acquired Cytogons to gain exclusive access to advanced assays licensed from the EuroFlow Consortium and strengthen BD's leadership position in the molecular oncology diagnostics segment.

Market Segmentation:

Segmentation 1: by Product
• Kits and Assays
• Instruments
• Software

Based on products, the global molecular oncology diagnostics market is expected to be dominated by kit and assay. This is due to the high number of applications performed by kits and their ease of integration with other systems.

Segmentation 2: by Technology
• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Immunohistochemistry (IHC)
• Fluorescence In-Situ Hybridization (FISH)
• Flow Cytometry
• Other Technologies

Based on technology, the global molecular oncology diagnostics market is dominated by polymerase chain reaction (PCR). However, next-generation sequencing (NGS) is expected to be the fastest-growing segment in the market. This is because PCR techniques play an important role in targeted NGS sequencing because they allow for the simultaneous production of several NGS libraries and the sequencing of numerous targeted regions.

Segmentation 3: by Application
• Clinical Diagnostic
• Research Use

Based on applications, the global molecular oncology diagnostics market is expected to be dominated by the clinical diagnostic segment. This is due to the high usage of technologies such as companion diagnostics and liquid biopsy emerge.

Segmentation 4: by Cancer Type
• Solid Tumor
o Breast Cancer
o Lung Cancer
o Colorectal Cancer
o Prostate Cancer
o Ovarian Cancer
o Other Solid Tumors
• Hematological Malignancy
o Lymphoma
o Leukemia
o Multiple Myeloma
o Other Hematological Malignancies

Based on cancer type, the global molecular oncology diagnostics market is dominated by solid tumor cancer type, where breast cancer is expected to be the leading segment. The growth of advanced solid tumor testing has mostly focused on the treatment of distinct cancer kinds, indications, and indication subtypes. The hematological malignancy segment is expected to show a fast growth rate during the forecast period.

Segmentation 5: by End User
• Hospitals and Diagnostic Centers
• Reference Laboratories
• Pharmaceutical and Biotechnology Companies
• Academic and Research Institutes

Based on end users, global molecular oncology diagnostics was dominated by the hospitals and diagnostic centers segment. The growth of this segment is primarily attributed to the high use of molecular diagnostic tests by hospitals in these fields.

Segmentation 6: by Region
• North America
• Europe
• Asia-Pacific
• Rest-of-the-World

North America dominated the global market with a revenue of $1,588.6 in 2021. However, the Asia-Pacific region, constituting several emerging economies, is expected to register the highest CAGR of 12.60% during the forecast period 2022-2032.

Recent Developments in the Global Molecular Oncology Diagnostics Market

• In August 2022, Guardant Health expanded its Guardant Reveal usage, a liquid biopsy test for residual disease detection and recurrence monitoring, to include early-stage breast and lung cancers. It is the only tissue-free test used for colorectal cancer (CRC) and is now available for patients with breast and lung cancer.
• In December 2021, QIAGEN partnered with Denovo Biopharma to develop a companion diagnostic test for the treatment of diffuse large B-cell lymphoma. This test identified patients expressing Denovo genomic marker 1 (DGM1), which responded to Denovo’s investigational cancer drug DB102.
• In September 2021, Illumina partnered with Merck to develop and commercialize research tests for use in identifying specific cancer genetic mutations used in the assessment of homologous recombination deficiency (HRD).
• In August 2021, Agilent Technologies, Inc. expanded its CE-IVD marked PD-L1 IHC 22C3 pharmDx assay usage in Europe. This assay was used as an aid in identifying esophageal cancer patients for treatments with KEYTRUDA using a combined positive score.

Demand - Drivers and Limitations

Following are the demand drivers for the global molecular oncology diagnostics market:

• Rising Incidence of Cancer Cases
• Launch of Innovative Products in Molecular Oncology Diagnostics Ecosystem
• Growth in Biomarker identification and Transformations in Molecular Techniques

The market is expected to face some limitations due to the following challenges:

• Lack of Qualified Professionals
• Opaque Regulatory Framework Delaying the Approval of New Molecular Diagnostic Tests
• High Cost of Equipment Hindering the Adoption Rate

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

Some of the prominent names in this market are:

• Agilent Technologies, Inc.
• Abbott.
• Biocartis NV
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche Ltd.
• QIAGEN N.V.
• Thermo Fisher Scientific, Inc.
• Danaher.
• Guardant Health
• HTG Molecular Diagnostics, Inc.
• Illumina, Inc.
• Invivoscribe, Inc.
• Myriad Genetics, Inc.
• Sysmex Corporation

Get Free Sample Report - https://bisresearch.com/requestsample?id=1402type=download
BIS Related Studies

Molecular Diagnostics Market - A Global and Regional Analysis

Total Views: 166Word Count: 1165See All articles From Author

Add Comment

Business Articles

1. Boosting Industrial Strength With Premium Flanges Manufacturer In India
Author: Metalica Forging Inc

2. The Evolution Of Fasteners: From Basic Joints To Advanced Applications - Caliber Enterprise
Author: caliber enterprises

3. China Business Email List – Unlock Targeted B2b Leads Across China With Ready Mailing Team
Author: Istiya isti

4. Types Of Lotion Dispenser Pumps: A Complete Guide
Author: Trisha Menon

5. What Are Aluminum Honeycomb Panels?
Author: Trisha Menon

6. 5 Indian Brands Winning With Pwas (and What You Can Learn From Them)
Author: Shubham

7. Djp Right Fit Recruiting Owner, Debra Parent, Voted In As A Member Of The Naer
Author: Steven Dubin

8. Berger Cpafirst: Your Trusted Accounting Partner In New Jersey And Nyc
Author: bergerCPAFirst

9. Get An Affordable Plumbing Repair Company Near You In Bangalore
Author: Smita Jain

10. Your Trusted Source For Real-time Number Game Results
Author: Manish

11. Pourquoi Certaines Cartouches Ruinent Vos Impressions ? Voici La Vérité
Author: john

12. Choosing The Correct Tackle Enhances The Smoothness And Satisfaction Derived From Nicotine Mariners
Author: vapewholesalepoint

13. Stundenrechner Benutzen Vorteile Und Tipps
Author: Steffen Stahl

14. Boost Your Online Business With Expert Marketing Help
Author: Usama Sakhawat Bajwa

15. Aghni Gold – The Smartest Place To Sell Old Gold For Instant Cash
Author: Aghnigold

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: