The rising incidence of cancer is one of the significant factors influencing the oncology molecular diagnostics market growth.
Market Size – USD 1,456.6 Million in 2019, Market Growth – CAGR of 11.8%, Market Trends –Increasing awareness about cancer diagnosis at an early stage.
The global Oncology Molecular Diagnostics Market is forecasted to reach USD 3,568.1 Million by 2027, according to a new report by Reports and Data. The oncology molecular diagnostics market is observing high growth due to the rising occurrences of breast cancer across the globe. Breast cancer is the most common type of cancer occurring in women. There were more than 2 million new cases of breast cancer in 2018. Belgium, Luxembourg, and the Netherlands are the countries with the highest rates of occurrences of breast cancer in the year 2018 across the globe. The global survival rates from the disease vary greatly, ranging from around 80% in North America, Japan, and Sweden to nearby 60% in middle-income nations and lower than 40% in low-income nations. Hence, the implementation of molecular breast diagnostics to screen and detect malignant cells in the human breast is driving the growth of the oncology molecular diagnostics market.
The COVID-19 impact:
The COVID-19 pandemic has made it essential to repurpose the operating rooms for surgeries into intensive care units (ICUs) and pushed hospitals to accommodate patients beyond their full capacity of beds. As a result, in several cases, cancer patients were categorized as non-urgent. Further, the psychological influence of postponed cancer diagnosis as a result of the COVID-19 pandemic cannot be undermined as when psychological, physical, and social health of patients are handled in a positive way, chances of patients’ survival have been seen to improve from a state of illness towards recovering from the disease. COVID-19 has had a significant and negative impact on cancer treatment and research, making a new health emergency for cancer patients’ management a necessity.
Key participants include Becton, Dickinson, and Company, Danaher Corporation, Roche Diagnostics, Abbott Laboratories, Cepheid, Qiagen NV, Siemens Healthineers, Bayer AG, Dako, and GE Healthcare, among others.
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data has segmented into the global oncology molecular diagnostics market on the basis of cancer type, component, technology, end-user, and region:
Cancer Type Outlook (Revenue, USD Million; 2017-2027)
Component Outlook (Revenue, USD Million; 2017-2027)
Technology Outlook (Revenue, USD Million; 2017-2027)
End-User Outlook (Revenue, USD Million; 2017-2027)
Regional Outlook (Revenue, USD Million; 2017-2027)
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Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2019-2027 Chapter 3. Indicative Metrics Chapter 4. Oncology Molecular Diagnostics Market Segmentation & Impact Analysis 4.1. Oncology Molecular Diagnostics Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Rising incidence of cancer 4.2.2.2. Increasing awareness about early disease diagnosis 4.2.2.3. Growing demand for point of care treatment 4.2.2.4. Growing geriatric population 4.2.3. Market restraints analysis 4.2.3.1. Cost prohibitive molecular diagnostic test 4.3. Technological Insights 4.4. Regulatory Framework 4.5. ETOP Analysis 4.6. Porter’s Five Forces Analysis 4.7. Competitive Metric Space Analysis 4.8. Price trend Analysis 4.9. Customer Mapping 4.10. Covid-19 Impact Analysis 4.11. Global Recession Influence
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Chapter 10. Competitive Landscape 10.1. Market Revenue Share By Manufacturers 10.2. Manufacturing Cost Breakdown Analysis 10.3. Mergers & Acquisitions 10.4. Market positioning 10.5. Strategy Benchmarking 10.6. Vendor Landscape Chapter 11. Company Profiles 11.1. Becton, Dickinson, and Company 11.1.1. Company Overview 11.1.2. Financial Performance 11.1.3. Technology Insights 11.1.4. Strategic Initiatives 11.2. Danaher Corporation 11.2.1. Company Overview 11.2.2. Financial Performance 11.2.3. Technology Insights 11.2.4. Strategic Initiatives 11.3. Roche Diagnostics 11.3.1. Company Overview 11.3.2. Financial Performance 11.3.3. Technology Insights 11.3.4. Strategic Initiatives 11.4. Abbott Laboratories 11.4.1. Company Overview 11.4.2. Financial Performance 11.4.3. Technology Insights 11.4.4. Strategic Initiatives 11.5. Cepheid 11.5.1. Company Overview 11.5.2. Financial Performance 11.5.3. Technology Insights 11.5.4. Strategic Initiatives
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