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The global molecular oncology diagnostics market was valued at $2.41 billion in 2024, and the market is expected to grow with a CAGR of 11.06% and reach $6.19 billion by 2033. The growth in the global molecular oncology diagnostics market is expected to be driven by rising technological advancements in molecular diagnostics such as next-generation sequencing, digital PCR, and liquid biopsy, among others and the rising prevalence of cancers globally. However, the expansion of the global molecular oncology diagnostics market has been hindered by several challenges. The high cost of molecular diagnostic tests remains a major barrier, particularly in low- and middle-income countries where healthcare funding is often limited. Additionally, there has been a noticeable gap in the availability of skilled professionals who are trained to use these advanced diagnostic tools effectively, further restraining the growth. This report comes with 10% free customization, enabling you to add data that meets your specific business needs.
Despite these challenges, the global molecular oncology diagnostics market continues to grow, driven by continuous technological advancements. Strategic collaborations between biotechnology companies, pharmaceutical firms, and academic institutions are vital, fostering innovation and accelerating the development and adoption of new diagnostic technologies. Overcoming the hurdles of cost and workforce training will be crucial for maximizing the potential of molecular diagnostics in improving cancer care globally.
Market Lifecycle Stage
The global molecular oncology diagnostics market is in progressive phase. The molecular oncology diagnostics ecosystem is witnessing a surge in the launch of innovative products and obtaining regulatory approvals, driving significant advancements in cancer care. Companies are continuously developing new diagnostic tools that leverage cutting-edge technologies such as next-generation sequencing (NGS), liquid biopsy, and digital PCR, which enhance the accuracy and efficiency of cancer detection and monitoring. These innovations are crucial in providing personalized treatment plans and improving patient outcomes.Impact
The expansion of the global molecular oncology diagnostics market in the coming years will be primarily driven by the rising prevalence of cancer across all types. The global incidence of cancer continues to increase due to factors such as an aging population, sedentary lifestyles, and hereditary risk factors. In 2022, there were approximately 20 million new cancer cases and 9.7 million cancer-related deaths worldwide. Lung cancer accounted for the highest share of total cancer cases at 12.40%, followed by breast cancer at 11.60%. The growing burden of cancer and the increasing emphasis on early detection are expected to propel the growth of the molecular oncology diagnostics market over the forecast period.:Market Segmentation:
Segmentation 1: by Product
- Kits and Assays
- Instruments
- Software
Segmentation 2: by Technology
- Polymerase Chain Reaction
- Next-Generation Sequencing
- Immunohistochemistry
- Fluorescence In-Situ Hybridization
- Flow Cytometry
- Other Technologies
Segmentation 3: by Application
- Clinical Diagnostics
- Research Use
Segmentation 4: by Cancer Type
- Solid Tumors
- Hematologic Malignancies
Segmentation 5: by End User
- Hospitals and Diagnostic Centers
- Reference Laboratories
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
Segmentation 6: by Region
- North America - U.S., and Canada
- Europe - U.K., Germany, France, Italy, Spain, and Rest-of-Europe
- Asia-Pacific - Japan, China, India, South Korea, Australia, and Rest-of-Asia-Pacific
- Rest-of-the-World
Recent Developments in the Global Molecular Oncology Diagnostics Market
- In May 2024, Becton, Dickinson and Company announced that the U.S. Food and Drug Administration (FDA) has approved the use of self-collected vaginal specimens for human papillomavirus (HPV) testing, to be utilized when cervical specimens are not available.
- In February 2024, Myriad Genetics, Inc. announced a research collaboration with the National Cancer Center Hospital East (NCCHE) in Japan to investigate the prognostic and predictive value of molecular residual disease (MRD) testing. The SCRUM-MONSTAR-SCREEN-3 study will utilize Myriad’s ultra-sensitive MRD test, Precise MRD, to monitor circulating tumor DNA (ctDNA) over time in patients with various solid tumors and hematological cancers.
- In January 2024, Guardant Health and Hikma have partnered to provide cancer screening and comprehensive genomic profiling tests in the Middle East and North Africa.
- In November 2023, Illumina launched an advanced liquid biopsy assay designed to enable comprehensive genomic profiling of solid tumors.
Demand - Drivers and Limitations
The following are the demand drivers for the global molecular oncology diagnostics market:
- Rising Incidence of Cancer Cases
- Rising Technological Advancements in Molecular Diagnostics
- Growth in Biomarker Identification and Transformation in Molecular Techniques
- Growing Demand for Personalized Medicine
The market is expected to face some limitations due to the following challenges:
- Lack of Qualified Professionals
- High Cost of Molecular Diagnostic Kits and Assays Hindering the Adoption Rate
Key Market Players and Competition Synopsis-
The global molecular oncology diagnostics market is expected to witness significant growth, fueled by the increasing incidence of cancer worldwide and the rising demand for personalized medicine. This sector is revolutionizing cancer treatment by enabling precise tumor profiling through advanced technologies such as next-generation sequencing (NGS). These innovations allow for the early detection of cancers and the identification of specific genetic mutations, facilitating tailored therapeutic strategies that enhance treatment efficacy and patient outcomes.Some of the prominent key players in this market are:
- Abbott Laboratories
- Agilent Technologies, Inc.
- Abbott Laboratories
- Agilent Technologies, Inc.
- Biocartis Group NV
- bioMérieux
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- Exact Sciences Corporation
- F. Hoffmann-La Roche Ltd
- Guardant Health, Inc.
- Hologic, Inc.
- Illumina, Inc.
- Invivoscribe, Inc.
- Myriad Genetics, Inc.
- QIAGEN N.V.
- Sysmex Corporation
- Thermo Fisher Scientific, Inc.
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Table of Contents
Executive SummaryScope and Definition
1 Global Molecular Oncology Diagnostics Market: Industry Outlook
2 Global Molecular Oncology Diagnostics Market (by Product)
3 Global Molecular Oncology Diagnostics Market (by Technology)
4 Global Molecular Oncology Diagnostics Market (by Application)
5 Global Molecular Oncology Diagnostics Market (by Cancer Type)
6 Global Molecular Oncology Diagnostic Market (by End User)
7 Global Molecular Oncology Diagnostics Market: by Region
8 Global Molecular Oncology Diagnostics Market - Competitive Benchmarking & Company Profiles
9 Research Methodology
List of Figures
List of Tables
Samples
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Companies Mentioned
- Abbott Laboratories
- Agilent Technologies, Inc.
- Biocartis Group NV
- bioMérieux
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- Exact Sciences Corporation
- F. Hoffmann-La Roche Ltd.
- Guardant Health, Inc.
- Hologic, Inc.
- Illumina, Inc.
- Invivoscribe Inc.
- Myriad Genetics, Inc.
- QIAGEN N.V.
- Sysmex Corporation
- Thermo Fisher Scientific, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 171 |
| Published | April 2025 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 2.41 Billion |
| Forecasted Market Value ( USD | $ 6.19 Billion |
| Compound Annual Growth Rate | 11.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
