Global Oncology Molecular Diagnostics Market Overview And Prospects
Learn about the global oncology molecular diagnostics market through The Business Research Company, which provides information on oncology molecular diagnostics market size, oncology molecular diagnostics market drivers and restraints, oncology molecular diagnostics market players, the COVID-19 impact on the oncology molecular diagnostics market, and more.
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The global oncology molecular diagnostics market is expected to grow from $5.59 billion in 2020 to $6.25 billion in 2021 at a compound annual growth rate (CAGR) of 11.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The oncology molecular diagnostics market is expected to reach $9.56 billion in 2025 at a CAGR of 11%.
The rise in the number of cancer cases across the globe is expected to drive innovation in oncology molecular diagnostics, thus driving the market during the forecast period.
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The oncology molecular diagnostics market consists of sales of molecular diagnostic instruments, kits and reagents used for diagnosing cancers and related services by entities (organizations, sole traders and partnerships) that produce molecular diagnostic equipment for diagnosing cancer. Molecular diagnostics are tests that diagnose genetic information, proteins or related molecules and provide health or disease information. This study is most usually performed on blood, saliva, or tumor tissue samples.
Global oncology molecular diagnostics market segments include:
By Product: Instruments, Reagents, Others
By Technology: Polymerase Chain Reaction (PCR), In-situ Hybridization (ISH), Isothermal Nucleic Acid Amplification Technology (INNAT), Chips & Microarrays, Sequencing, Mass Spectroscopy, Transcription Mediated Amplification (TMA), Others
By End User: Hospitals, Diagnostic Centres, Academic & Research Institutes, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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.
TBRC’s oncology molecular diagnostics market report covers:
Major Market Players: Abbott Diagnostics, Becton Dickinson, Cepheid, Danaher Corporation, Beckman Coulter, Leica Biosystems, Gen Probe (Hologic), Qiagen N.V., Roche Diagnostics, and Siemens Healthcare.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Oncology Molecular Diagnostics Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides oncology molecular diagnostics market overviews, analyzes and forecasts market size, share, oncology molecular diagnostics market players, oncology molecular diagnostics market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s oncology molecular diagnostics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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