Oncology Molecular Diagnostics Market, By Product (Reagents, Instruments, and Others), By Cancer Type (Breast Cancer, Colorectal Cancer, Lung Cancer, and Others), By Technology (In-Situ Hybridization, Polymerase Chain Reaction (PCR), Next Generation Sequencing, Spectrometry, Transcription Mediated Amplification, and Others), By End-Users (Diagnostic Centers, Hospitals, Academic & Research Institutes, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Oncology molecular diagnostics Market was valued at US$ 4.9 Billion in 2024 and is projected to grow at a CAGR of 12.70%to reach US$ 14.7Billion by 2034.

Oncology Molecular Diagnostics are increasing widely which is used for guiding patient management, from diagnosis to treatment in cancer, congenital abnormalities and infectious disease. Molecular approaches used in cancer treatment are modern immunotherapy, novel antineoplastic agents, and therapeutic repair of oncogenic genetic lesions. Mostly antineoplastic agents interact with DNA in a manner which inhibits the replication of tumor cell genome. Molecular testing is used for checking certain changes in gene or chromosome which may increase a person’s risk of developing cancer or other diseases. Molecular testing is done with biopsies to help in diagnosing some types of cancer. Molecular diagnostics has become important in oncology because it is used in determining whether a person is at risk for certain type of cancer. Molecular diagnostics includes, taking DNA or RNA, unique genetic code found in cells and analyzing sequence for red flags which can pinpoint the potential emergence of specific disease. Molecular diagnostic field is expanding rapidly. Molecular oncology is an integrated basic science program which is composed of diverse group of investigators with strengthen in tumor host interactions, cancer stem cells, genomic instability, DNA damage repair, and other fundamental areas of cancer biology. Latest innovations includes, nanotechnology, development in PCR reaction, biochips, and several non-PCR methods that has accelerated advances in analysis of nucleic acids and proteins. Various molecular diagnostic technology are, In-Situ Hybridization, Polymerase Chain Reaction (PCR), Next Generation Sequencing, Spectrometry, Transcription Mediated Amplification, are used in oncology. Molecular diagnostic technology are faster, more specific, more sensitive and used to detect organisms which are missed by routine culture. However, technological advancement in molecular diagnostics has given positive impact on target market growth.

Rising prevalence of cancer disease and rate of urbanization is one of the leading factors for the Oncology Molecular Diagnostics Market growth. Urbanization has given rise in consumption of western food, processed food, frozen packed foods, alcohol, caffeine, which are unhealthy and affect the health of human being. Urbanization has given rise in disposable income which allows the individual to enhance their lifestyle, spending less on cereals, millets, fruits, vegetables, spending more on processed foods and beverages, consuming high amount of red meat and animal derived food, fats & oils, sugar, sodium, which has affected the health. Unhealthy lifestyle like Smoking, alcohol intake, low fruits and vegetable consumption, lack of exercise, low energy consumption, consumption of fat rich diet, high intake of animal derived food like red meat, rising obesity has given rise in cancer diseases. Urbanization has caused unhealthy lifestyle, change in diet, obesity, lack of exercise, pollution, late marriages fewer children, no breast feeding or lesser feeding for less duration, early menarche, late menopause, which has become major contribution in global rise of breast cancer. According to ‘The World Cancer Report 2020’ it was determined that incidence of breast cancer is consistently rising in India due to high socio-economic status and rapid urbanization. For instance, in 2016, (NIH), the relationship between cancer incidence and urbanization in Iran were conducted by using Quantile Regression. Data obtained by Ministry of Health & Medical Education and relationship between urbanization and cancer morbidity was investigated by quantile regression and determined that breast cancers, pancreas, prostate, colorectal and lung cancers increasing with rate of urbanization. 90^th percentile was maximum increase rate of breast cancer. 95^th percentile was of prostate cancer, 75^th percentile was of colorectal cancer, 95^th percentile for lung cancer and 10^th percentile for pancreas cancer. According to the results, it was determined that there was significant impact of rising urbanization on cancer morbidity due to risk factors like more pollution in urban areas, poor nutrition food, lack of exercise, smoking, alcohol intake, etc. For instance, in 2020, according to (PMC), urban population was 36.6% to 44.8% in 1970-1994 and expected to increase till 61.1% till 2025. Around 70%-80% of colorectal cancer incidence in urban population occurs due to unhealthy lifestyle and environmental factors.  According to data published by United Nations in 2018, about 55% of the world’s population resided in urban areas, and it is projected that this percentage will increase over the forecast period. Use of Molecular Diagnostics in oncology provides analysis of oncogenes & tumor suppressor genes which are involved in particular types of tumor and has potential for providing information which is useful in diagnosis of cancer and in monitoring effects of treatment. Molecular Diagnostics also used in determining whether a person is at risk for developing cancer. However, the growth in prevalence of cancer diseases and population in urban areas boosts the demand for Oncology Molecular Diagnostics market.

Restrains:

FDA regulation of companion diagnostics may limit the therapy specific assays. Sample heterogeneity & population specific difference may skew results. Choosing appropriate biomarker is difficult and crucial. Expensive cost of equipment, reagents in molecular methodologies may prohibitive to some laboratories which may restrain the target market growth.

The Oncology Molecular Diagnostics market is segmented based on Product, Cancer Type, Technology, End-Users and Region.

On the basis of Product, the Oncology Molecular Diagnostics market is segmented into Reagents, Instruments, and others. On the basis of Cancer Type, the target market is segmented into Breast Cancer, Colorectal Cancer, Lung Cancer, and Others. On the basis of Technology, the target market is segmented into In-Situ Hybridization, Polymerase Chain Reaction (PCR), Next Generation Sequencing, Spectrometry, Transcription Mediated Amplification, and others. On the basis of End-Users, the target market is segmented into Diagnostic Centers, Hospitals, Academic & Research Institutes, and others.

Regional Insights:

On region the Oncology Molecular Diagnostics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements. Moreover, rising prevalence of various types of cancer diseases, well-established and robust healthcare infrastructure, technological advancement, disposable income, and rapid adoption of advanced diagnostic techniques is anticipated to increase demand for Oncology Molecular Diagnostics in the region.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Oncology Molecular Diagnostics Market report based on Product, Cancer Type, Technology, End-Users and Region:

Oncology Molecular Diagnostics Market, By Product:

• Reagents
• Instruments
• Others

Oncology Molecular Diagnostics Market, By Cancer Type:

• Breast Cancer
• Colorectal Cancer
• Lung Cancer
• Others

Oncology Molecular Diagnostics Market, By Technology:

• In-Situ Hybridization
• Polymerase Chain Reaction (PCR)
• Next Generation Sequencing
• Spectrometry
• Transcription Mediated Amplification
• Others

Oncology Molecular Diagnostics Market, By End-Users:

• Diagnostic Centers
• Hospitals
• Academic & Research Institutes
• Others

Oncology Molecular Diagnostics Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating the Oncology Molecular Diagnostics Market includes, Thermo fisher Scientific Inc., Abbott Laboratories, Becton Dickinson and Company, Danaher Corporation, F-Hoffman La-Roche Ltd., Bayer AG, Siemens Healthcare GmbH, Sysmex Corporation, BioNTech SE, Biodesix Inc., and others.

Recent Development:

• In August 2022, Thermo Fisher Scientific has launched new CE-IVD (IVDD) Oncomine Dx Express Test and Oncomine Reporter Dx. This test are Next-Generation Sequencing Test and it has also launched analysis software for expanding access to Precision Oncology Biomarker Testing. Oncomine Dx Express Test help in delivering clinically relevant tumor mutation profiling as little as 24 hours by using targeted NGS technology to aid healthcare professionals in therapy management of cancer patients. Newly launched IVD solution provides rapid results with minimal training and hands on time.
• In August 2022, Roche has launched the new Digital LightCycler System which is a next-generation digital PCR system that helps clinical researchers to better understand the nature of patient’s cancer, infectious disease and genetic disease. Newly launched system is used in detecting disease and designed for performing highly sensitive & precise DNA & RNA analysis in oncology and infectious diseases.

• Thermo fisher Scientific Inc.*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Abbott Laboratories
• Becton Dickinson and Company
• Danaher Corporation
• F-Hoffman La-Roche Ltd.*
• Bayer AG
• Siemens Healthcare GmbH
• Sysmex Corporation
• BioNTech SE
• Biodesix Inc.

 “*” marked represents similar segmentation in other categories in the respective section