Rise In Cancer Case Incidence Leads To Oncology Molecular Diagnostics Industry Growth

The Business Research Company’s Oncology Molecular Diagnostics Global Market Report 2021: COVID-19 Growth And Change To 2030

LONDON, GREATER LONDON, UK, April 22, 2021 /EINPresswire.com/ -- Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

The rise in the number of cancer cases across the globe is likely to contribute to the growth of the oncology molecular diagnostics market. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancers worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the oncology molecular diagnostic market over the coming years.

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.

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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%.

Major players in the oncology and infectious disease molecular diagnostics market are Abbott Diagnostics, Becton Dickinson, Cepheid, Danaher Corporation, Beckman Coulter, Leica Biosystems, Gen Probe (Hologic), Qiagen N.V., Roche Diagnostics, and Siemens Healthcare.

The cancer molecular diagnostics market covered in this report is segmented by product into instruments, reagents, others. The oncology molecular diagnostics market is also segmented by technology into polymerase chain reaction (PCR), in-situ hybridization (ISH), isothermic nucleic acid amplification technology (INNAT), chips & microarrays, sequencing, mass spectroscopy, transcription mediated amplification (TMA), others and by end-user into hospitals, diagnostic centers, academic & research institutes, others.

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 overview, forecast oncology molecular diagnostics market size and growth for the whole market, oncology molecular diagnostics market segments, and geographies, oncology molecular diagnostics market trends, oncology molecular diagnostics market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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