Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.54 Billion | USD 7.91 Billion | 12.03% | 2024 |
FrequentlyAsked Questions
Oncology molecular diagnostics are advanced laboratory tests that examine genetic changes, mutations, and biomarkers in cancer cells to help doctors make more informed treatment decisions for cancer patients.
The oncology molecular diagnostic market is expected to be driven by increasing cancer prevalence worldwide, advancements in precision medicine and targeted therapies, growing demand for personalized treatment options, technological improvements in genomic analysis, and expanding adoption of companion diagnostics for treatment selection.
According to our study, the global oncology molecular diagnostic market was worth around USD 2.54 billion in 2024 and is predicted to grow to around USD 7.91 billion by 2034.
The CAGR value of the oncology molecular diagnostic market is expected to be around 12.03% during 2025-2034.
The global oncology molecular diagnostic market will register the highest revenue contribution from North America during the forecast period.
Key players in the oncology molecular diagnostic market include Roche Diagnostics, Illumina Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., QIAGEN N.V., Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories Inc., PerkinElmer Inc., Genomic Health Inc., Foundation Medicine Inc., Guardant Health Inc., Exact Sciences Corporation, Myriad Genetics Inc., NeoGenomics Inc., Castle Biosciences Inc., Veracyte Inc., Molecular MD Corp., Personal Genome Diagnostics Inc., and Tempus Labs Inc.
The report provides a comprehensive analysis of the oncology molecular diagnostic market, including an in-depth examination of market drivers, restraints, emerging trends, regional dynamics, and future growth prospects. It also examines the competitive dynamics, technological innovations, testing methodologies, and healthcare applications that shape the precision medicine and cancer diagnostics ecosystem.
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