Global Molecular Oncology Diagnostics Market to Reach $12.13 Billion by 2032 - Exclusive DeepTech M-A-P™ Analysis by BIS Research
Emerging technologies such as microarray are also expected to be integrated more into molecular oncology diagnostics soon, which is expected to further boost the market growth.
FREMONT, Calif., Dec. 9, 2022 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Molecular Oncology Diagnostics Market - A Global and Regional Analysis.
According to this study, the market for global molecular oncology diagnostics was valued at $3.62 billion in 2021 and is projected to reach $12.13 billion by 2032.
The following factors are responsible for the increase in demand for molecular oncology diagnostics:
- Rising incidence of cancer cases
- Launch of innovative products in the molecular oncology diagnostics ecosystem
- Growth in biomarker identification and transformations in molecular techniques
The detailed study is a compilation of 3 market data tables and 206 figures spread through 264 pages.
Check out the detailed table of content here
https://bisresearch.com/requestsample?id=1402&type=toc
Analyst's Take on the Market Projection
According to Nitish Kumar, Principal Consultant, Healthcare, BIS Research, "Although there have been significant innovations for the enhancement of all the important areas of diagnostics, molecular diagnostics, particularly, has harbored phenomenal attention in recent years owing to the in-depth insights they bring to diagnosis and treatment. As the next frontier of precision medicine, the global molecular oncology diagnostics market is expected to showcase enormous potential to completely revolutionize patient care and overall wellness in general."
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https://bisresearch.com/requestsample?id=1402&type=download
Existing Competitive Landscape
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the 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, and more.
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.
Polymerase Chain Reaction Technology Type to Witness the Highest Market Growth
The global market for molecular oncology diagnostics (by technology) has been divided into six categories, i.e., next-generation sequencing (NGS), polymerase chain reaction (PCR), fluorescence in-situ hybridization (FISH), immunohistochemistry (IHC), flow cytometry, and others.
These rapidly evolving technologies have the potential to transform medical diagnoses and treatment for the better. Not only are developing diagnostic tools becoming more useful in a wider range of clinical scenarios, but they are also assisting in a more exploratory outlook in order to cater to a holistic approach to cancer treatment.
According to this study from BIS Research, the PCR segment dominated the technology market in 2021 with a cumulative value of $1.20 billion, and the trend is expected to continue during the forecast period 2022-2032.
Want to learn more about the latest trends in precision medicine? Speak to our analysts
Exclusive DeepTech™ MAP Analysis for Healthcare by BIS Research:
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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