The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Oncology Molecular Diagnostics Global Market Report 2024, the oncology molecular diagnostics market is expected to show promising growth in the forecast period.

The oncology molecular diagnostics market is experiencing substantial growth, driven by various factors:

• Market Size Boom: From $4.19 billion in 2023 to an estimated $4.84 billion in 2024, marking a 15.6% compound annual growth rate (CAGR).
• Historic Growth Drivers: Early test market entries, genomic profiling advancements, introduction of NGS, early biomarker identification, and targeted therapies development.
• Forecasted Growth: Expected to reach $7.99 billion by 2028 with a CAGR of 13.3%, fueled by liquid biopsy advancements, rise of companion diagnostics, AI integration, expanded NGS applications, and evolving biomarker identification.

Revolutionizing Oncology Molecular Diagnostics Through Advanced Genomics Technology

The integration of advanced genomics technology reshapes the landscape of oncology molecular diagnostics:

• Technological Advancements: Progress in cancer genome sequencing technology, computational analysis, tumor models, and modern research methods enable early cancer detection and mutation analysis.
• FDA Approval: Thermo Fisher Scientific Inc.’s FDA-approved NGS-based companion diagnostic test for non-small cell lung cancer patients demonstrates the practical application of advanced genomics in treatment decisions.

View More On The Oncology Molecular Diagnostics Market Report 2024 – https://www.thebusinessresearchcompany.com/report/oncology-molecular-diagnostics-global-market-report

Healthcare Global Enterprises Limited Strengthens Oncology Diagnostics And Research Capabilities Through Acquisition Of Strand Lifesciences’ Hospital Labs And Clinical Trial Business

The strategic move by Healthcare Global Enterprises Limited bolsters its oncology diagnostics and research capabilities:

• Acquisition Impact: HCG’s acquisition of Strand Lifesciences’ Oncology hospital labs and clinical trial business enhances in-house diagnostic and research capabilities.
• Market Segments: The oncology molecular diagnostics market is segmented by product, technology, and end user, including instruments, reagents, PCR, ISH, sequencing, hospitals, diagnostic centers, and more.
• Regional Dominance: North America emerged as the largest region in the oncology molecular diagnostics market in 2023, reflecting the region’s advanced healthcare infrastructure and R&D investments.

Conclusion

The oncology molecular diagnostics market’s rapid expansion is propelled by technological innovations, rising cancer incidence rates, and strategic acquisitions. As companies continue to invest in advanced genomics, AI integration, and global accessibility, the future promises improved patient outcomes through early detection, personalized therapies, and enhanced research capabilities. With the oncology molecular diagnostics market poised for continued growth, stakeholders must adapt to evolving trends and regulatory frameworks to capitalize on emerging opportunities and address the pressing healthcare challenges posed by cancer.

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