Covina, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Molecular Oncology is the integrated basic science program which is composed of diverse group of investigators with strength in cancer stem cells, tumor host interactions, DNA damage repair & genomic instability and other fundamental areas of cancer biology. Molecular diagnostics is a part of laboratory medicine. There are multiple applications of molecular diagnostics in oncology. Mutation analysis is routinely utilized for diagnosis of hereditary cancer syndromes. Molecular testing is used for checking certain changes in gene or chromosome which helps in increasing a person’s risk of developing cancer or other disease, it may also done with other procedures like biopsies to help in diagnosing some types of cancer. Cancers are caused by germ-line mutations which requires significant modification of treatment strategy. PCR (Polymerase Chain Reaction) allows the pieces of DNA to be amplified for detection. PCR is widely used technique in molecular diagnostics. PCR is used to detect certain changes in gene or chromosome which will help in finding & diagnosing a genetic condition or disease such as cancer. Hereditary cancer syndromes compose a group of genetic defects which delivers highly significant elevation of cancer risk. This allows to arrange meaningful diagnostic & preventive interventions for germ-line mutation carriers. Genetic diagnosis of hereditary cancer has become possible by identification of germ-line mutations in corresponding genes. There are different types of molecular diagnostics like biomarker tests, genetic tests and companion diagnostics. However, rising incidence of cancer diseases has given positive impact on target market growth.
The report “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 2032”
Key Highlights:
- In June 2022, Biodesix Inc., has announced the research agreement with top US Cancer Center to develop and commercialize new pipeline oncology biomarker assay in collaboration with Memorial Sloan Kettering Cancer Center & Bio-Rad Inc. This agreement will intend to develop a new novel MRD (minimal residual disease) test as part of the MSRA (master sponsored research agreement).
- In May 2022, Sysmex Inostics has launched new AML (acute myeloid leukemia) panel of test for detecting mutation of most prevalent genes like IDH1, IDH2 and NPM1 in AML. AML-MRD (measurable residual disease -SEQ is the most extensive panel for detection of MRD in 68 regions across 20 genes. The company has also joined the Foundation for the National Institutes of Health (FNIH) Biomarkers Consortium’s (BC) four year project for validating new methods of MRD detection and quantifying as a measure of response & trial endpoints in AML.
- In May 2022, Illumina has launched new Pan-Cancer Companion Diagnostic to match patients with rare genetic mutations to targeted therapy. Newly launched ‘TruSight Oncology (TSO)’ Comprehensive (EU) test is a comprehensive genomic profiling test (CGP) which helps in combining less prevalent biomarkers with more prevalent ones in same test by using single biopsy specimen.
- In August 2021, Becton Dickinson and Company has launched new ‘BD COR PX/GX’ system fully automated high throughput molecular diagnostic platform for U.S. laboratories. Newly launched system has robotics & sample management software algorithm used to set new standard in automation for infectious disease molecular testing. Newly launched system will make the BD Onclarity HPV assay with extended genotyping for BD COR system available to high-throughput labs which process majority of screening of cervical cancer specimen in U.S.
Analyst View:
Molecular diagnostics has become the part of laboratory medicine. Molecular diagnostics relies on detecting individual biologic molecules. Emergence of practical applications of molecular oncology is largely attributed to the development of user friendly methods of molecular analysis in diagnosis of cancer disease. A revolution in medical research has attributed to the invention and rapidly increasing use of NGS (next generation sequencing). Next generation sequencing has help in allowing comprehensive description of germ-line DNA, systematic analysis of micro-biomes, analysis of somatic mutation and RNA profiles in naturally occurring tumors. However, molecular diagnostic technology are faster, more specific, more sensitive and used to detect organisms which are missed by routine culture, which is expected to boost the demand for Oncology Molecular Diagnostics market over the forecast period. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
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Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “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 2032"
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Key Market Insights from the report:
Oncology Molecular Diagnostics Market accounted for US$ 3.67 billion in 2022 and is estimated to be US$ 18.2 billion by 2032 and is anticipated to register a CAGR of 16.4%. The Oncology Molecular Diagnostics Market is segmented based on Product, Cancer Type, Technology, End-Users and Region.
- Based on Product, Oncology Molecular Diagnostics Market is segmented into Reagents, Instruments, and others.
- Based on Cancer Type, Oncology Molecular Diagnostics Market is segmented into Breast Cancer, Colorectal Cancer, Lung Cancer, and Others.
- Based on Technology, Oncology Molecular Diagnostics Market is segmented into In-Situ Hybridization, Polymerase Chain Reaction (PCR), Next Generation Sequencing, Spectrometry, Transcription Mediated Amplification, and others.
- Based on End-Users, Oncology Molecular Diagnostics Market is segmented into Diagnostic Centers, Hospitals, Academic & Research Institutes, and others.
- By Region, the Oncology Molecular Diagnostics Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Oncology Molecular Diagnostics Market:
The prominent players operating in 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.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Scope of the Report:
- Oncology Molecular Diagnostics Market, By Product
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Reagents
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Instruments
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Oncology Molecular Diagnostics Market, By Cancer Type, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Breast Cancer
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Colorectal Cancer
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Lung Cancer
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 203
- Overview
- Oncology Molecular Diagnostics Market, By Technology, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- In-Situ Hybridization
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Polymerase Chain Reaction (PCR)
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Next Generation Sequencing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Spectrometry
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Transcription Mediated Amplification
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Oncology Molecular Diagnostics Market, By End-Users, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Diagnostic Centers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Hospitals
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Academic & Research Institutes
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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