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Global Oncology Based Molecular Diagnostics Market to reach USD 6.08 billion by the end of 2030.

Global Oncology Based Molecular Diagnostics Market Size Study & Forecast, by Type (Breast Cancer, Prostate Cancer, Colorectal Cancer, Cervical Cancer, Liver Cancer, Lung Cancer, Blood Cancer, Others), by Product (Instruments, Reagents, Others), by Technology (PCR, In situ hybridization, INAAT, Chips and microarrays, Mass spectrometry, Sequencing, TMA, Others), and Regional Analysis, 2023-2030

Product Code: HLSMD-76840119
Publish Date: 10-01-2024
Page: 200

Global Oncology Based Molecular Diagnostics Market is valued at approximately USD 2.44 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 12.1% over the forecast period 2023-2030. Oncology-centric molecular diagnostics is a specialized field of medical diagnostics dedicated to pinpointing and scrutinizing precise molecular and genetic alterations linked to cancer. This diagnostic discipline entails the scrutiny of DNA, RNA, proteins, and other molecular components, aiming to comprehend the molecular intricacies that drive the evolution, advancement, and reaction to treatment in cancer. Integral to the realm of personalized medicine, oncology-based molecular diagnostics customizes treatment approaches by leveraging insights derived from the distinct molecular attributes of an individual’s cancer. The increasing operational costs and regulatory requirements, coupled with reimbursement scenarios for key countries are the key factors that are contributing to the market growth on the global scale.

Additionally, the surge in the prevalence of cancer worldwide is a key factor that is fueling the demand for oncology-based molecular diagnostics, which is leveraging the market growth prospects. According to the World Health Organization, in 2020, it was estimated that nearly 19.3 million new cases of cancer were recorded globally, which is projected to rise and is likely to reach 30.2 million new cases by 2040. These substantial figures underscore the escalating prevalence of cancer, emphasizing the growing imperative for early detection and preventive healthcare. Consequently, soaring demand for oncology molecular diagnostic tests is propelling the growth of the Oncology Based Molecular Diagnostics Market over the estimated period. Moreover, the surge in adoption of new software solutions, as well as increasing demand for point-of-care treatment present various lucrative opportunities over the forecast years. However, the high cost of molecular diagnostic tests, along with a lack of skilled workforce and stringent regulatory framework are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Oncology Based Molecular Diagnostics Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rapid adoption of advanced diagnostic techniques, coupled with the prevalence of sedentary lifestyles and favorable health reimbursement, which has contributed to the growth of the Oncology Molecular Diagnostics Market. According to a 2020 report from the American Cancer Society, various professional associations, including the National Comprehensive Cancer Network (NCCN), the American Association of Clinical Oncology (ASCO), and the College of American Pathologists (CAP), have formulated guidelines for biomarker testing and treatment. Furthermore, the escalating incidence of cancer in the country contributes significantly to the growth of the Oncology Molecular Diagnostics Market in the region. The 2020 statistics from the National Cancer Institute (NCI) reveal that approximately 1,806,590 cancer cases were diagnosed in the United States in 2020, and it is anticipated that the number of cancer survivors is expected to reach 2.2 million by 2030. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rising technological advancements in diagnostic testing, increasing cases of cancer, and increasing demand for point-of-care treatment are significantly propelling the market demand across the region.

Major market players included in this report are:
Bayer AG
Becton, Dickinson and Company
Agilent Technologies, Inc.
Danaher Corporation
Hologic, Inc.
F. Hoffmann-La Roche Ltd.

Recent Developments in the Market:
Ø In December 2021, QIAGEN entered a collaboration with Denovo Biopharma to develop a companion diagnostic test for the management of diffuse large B-cell lymphoma. This diagnostic test aims to identify individuals carrying the Denovo Genomic Marker 1 (DGM1), which corresponds to the company’s cancer treatment, DB102 drug.
Ø In December 2020, Veracyte Inc. and Bayer AG partnered to enhance the Precision Oncology Patient Identification Program, specifically in the realm of thyroid cancer. This collaboration aims to facilitate testing using Veracyte’s Afirma Xpression Atlas (XA), designed to pinpoint the genomic drivers within tumor cells. The focus may be on individuals with advanced thyroid cancer, to identify biomarker-driven therapies for their benefit.

Global Oncology Based Molecular Diagnostics Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Product, Technology, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Breast Cancer
Prostate Cancer
Colorectal Cancer
Cervical Cancer
Liver Cancer
Lung Cancer
Blood Cancer
Kidney Cancer

By Product:

By Technology:
In situ hybridization
Chips and microarrays
Mass spectrometry

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Oncology Based Molecular Diagnostics Market, by Region, 2020-2030 (USD Billion)
1.2.2. Oncology Based Molecular Diagnostics Market, by Type, 2020-2030 (USD Billion)
1.2.3. Oncology Based Molecular Diagnostics Market, by Product, 2020-2030 (USD Billion)
1.2.4. Oncology Based Molecular Diagnostics Market, by Technology, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Oncology Based Molecular Diagnostics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Oncology Based Molecular Diagnostics Market Dynamics
3.1. Oncology Based Molecular Diagnostics Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Reimbursement scenario for key countries Rising demand for Point-of-care treatment
3.1.2. Market Challenges High cost of molecular diagnostic tests Lack of skilled workforce and stringent regulatory framework
3.1.3. Market Opportunities Surge in adoption of novel software solutions Increasing demand for point-of-care treatment
Chapter 4. Global Oncology Based Molecular Diagnostics Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Oncology Based Molecular Diagnostics Market, by Type
5.1. Market Snapshot
5.2. Global Oncology Based Molecular Diagnostics Market by Type, Performance – Potential Analysis
5.3. Global Oncology Based Molecular Diagnostics Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Oncology Based Molecular Diagnostics Market, Sub Segment Analysis
5.4.1. Breast Cancer
5.4.2. Prostate Cancer
5.4.3. Colorectal Cancer
5.4.4. Cervical Cancer
5.4.5. Liver Cancer
5.4.6. Lung Cancer
5.4.7. Blood Cancer
5.4.8. Kidney Cancer
5.4.9. Others
Chapter 6. Global Oncology Based Molecular Diagnostics Market, by Product
6.1. Market Snapshot
6.2. Global Oncology Based Molecular Diagnostics Market by Product, Performance – Potential Analysis
6.3. Global Oncology Based Molecular Diagnostics Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
6.4. Oncology Based Molecular Diagnostics Market, Sub Segment Analysis
6.4.1. Instruments
6.4.2. Reagents
6.4.3. Others
Chapter 7. Global Oncology Based Molecular Diagnostics Market, by Technology
7.1. Market Snapshot
7.2. Global Oncology Based Molecular Diagnostics Market by Technology, Performance – Potential Analysis
7.3. Global Oncology Based Molecular Diagnostics Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
7.4. Oncology Based Molecular Diagnostics Market, Sub Segment Analysis
7.4.1. PCR
7.4.2. In situ hybridization
7.4.3. INAAT
7.4.4. Chips and microarrays
7.4.5. Mass spectrometry
7.4.6. Sequencing
7.4.7. TMA
7.4.8. Others
Chapter 8. Global Oncology Based Molecular Diagnostics Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Oncology Based Molecular Diagnostics Market, Regional Market Snapshot
8.4. North America Oncology Based Molecular Diagnostics Market
8.4.1. U.S. Oncology Based Molecular Diagnostics Market Type breakdown estimates & forecasts, 2020-2030 Product breakdown estimates & forecasts, 2020-2030 Technology breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Oncology Based Molecular Diagnostics Market
8.5. Europe Oncology Based Molecular Diagnostics Market Snapshot
8.5.1. U.K. Oncology Based Molecular Diagnostics Market
8.5.2. Germany Oncology Based Molecular Diagnostics Market
8.5.3. France Oncology Based Molecular Diagnostics Market
8.5.4. Spain Oncology Based Molecular Diagnostics Market
8.5.5. Italy Oncology Based Molecular Diagnostics Market
8.5.6. Rest of Europe Oncology Based Molecular Diagnostics Market
8.6. Asia-Pacific Oncology Based Molecular Diagnostics Market Snapshot
8.6.1. China Oncology Based Molecular Diagnostics Market
8.6.2. India Oncology Based Molecular Diagnostics Market
8.6.3. Japan Oncology Based Molecular Diagnostics Market
8.6.4. Australia Oncology Based Molecular Diagnostics Market
8.6.5. South Korea Oncology Based Molecular Diagnostics Market
8.6.6. Rest of Asia Pacific Oncology Based Molecular Diagnostics Market
8.7. Latin America Oncology Based Molecular Diagnostics Market Snapshot
8.7.1. Brazil Oncology Based Molecular Diagnostics Market
8.7.2. Mexico Oncology Based Molecular Diagnostics Market
8.8. Middle East & Africa Oncology Based Molecular Diagnostics Market
8.8.1. Saudi Arabia Oncology Based Molecular Diagnostics Market
8.8.2. South Africa Oncology Based Molecular Diagnostics Market
8.8.3. Rest of Middle East & Africa Oncology Based Molecular Diagnostics Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Abbott Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Bayer AG
9.3.3. Becton, Dickinson and Company
9.3.4. Cepheid
9.3.5. Agilent Technologies, Inc.
9.3.6. Danaher Corporation
9.3.7. Hologic, Inc.
9.3.8. Qiagen
9.3.9. F. Hoffmann-La Roche Ltd.
9.3.10. Siemens
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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