Molecular diagnosis is a procedure utilized to identify a disease at the molecular level, such as DNA, proteins and RNA, in a tissue or fluid. Different tools are used to detect specific sequences of DNA or RNA that may or may not be associated with the disease, such as deletions, single nucleotide polymorphisms (SNPs), rearrangements, and insertions, which are utilized in the diagnosis and prediction of infectious diseases, cancer, and other genetic disorders. Molecular diagnostics help to diagnose cancer at its very early stage so to determine best treatment options for the disease.
MARKET SCOPE
The Global Oncology Based Molecular Diagnostics Market Analysis to 2028 is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the oncology based molecular diagnostics market with detailed market segmentation by product, technology and application. The report provides key statistics on the market status of the leading oncology based molecular diagnostics market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product the market is segmented as, instruments, reagents & kits and others.
- Based on technology the market is segmented as, PCR, mass spectrometry, in situ hybridization, sequencing, and others.
- Based on application the market is segmented as, breast cancer, prostate cancer, lung cancer, blood cancer, lung cancer, and others.
MARKET DYNAMICS
Drivers:
- Increasing prevalence of cancer and metastatic disorders across the globe.
- Growth in biomarker identification and increasing genomic technology is also expected to spur the market growth.
- Increasing focus on R&D and rising funding in molecular diagnostics.
- Technological advancements in the field of molecular diagnostics is also expected to spur the market growth.
Restraints:
- However, dearth of skilled professionals and stringent regulatory framework are expected to hamper market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The oncology based molecular diagnostics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the oncology based molecular diagnostics market in these regions.
IMPACT OF COVID-19 ON ONCOLOGY BASED MOLECULAR DIAGNOSTICS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the oncology based molecular diagnostics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from oncology based molecular diagnostics market are anticipated to lucrative growth opportunities in the future with the rising demand for oncology based molecular diagnostics in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the oncology based molecular diagnostics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Abbott
- BD
- Agilent Technologies, Inc
- Danaher
- QIAGEN
- F. Hoffmann-La Roche Ltd
- Siemens Healthcare GmbH
- Sysmex Europe GmbH
- bioM?rieux SA
- Cepheid