The Molecular Diagnostics in Oncology market size is based on a triangulation methodology which is primarily based on experimental modeling approaches such as patient-level data or disease epidemiology for all key indications, number of procedures and analysis of the installation base for any equipment in order to obtain accurate market estimates for the base year as well as in the analysis of historical data. A bottom-up approach is always used to obtain relevant molecular diagnostic data in oncology for specific countries / regions. Country-specific data is re-analyzed to derive data at the global level. Specific factors / parameters are considered to be related to the individual oncology molecular diagnostics market and quantified with insightful rationale.
A comprehensive estimate of the molecular diagnostics in oncology market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Molecular diagnostics sales in oncology during the forecast period. The comparison of prices by region with the world average price is also taken into account in the study.
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Key segments covered by molecular diagnostics industry research in oncology
- Molecular diagnostic reagents and kits in oncology
- Molecular diagnostic instruments in oncology
- Molecular diagnostic table instruments in oncology
- Portable and PoC instruments for molecular diagnostics in oncology
- Molecular diagnostic software and services in oncology
- Polymerase chain reaction (PCR) in oncology Molecular diagnostics
- Isothermal nucleic acid amplification technology (INAAT) for molecular diagnostics in oncology
- DNA sequencing and next-generation sequencing (NGS) for molecular diagnostics in oncology
- In situ hybridization (ISH) technology for molecular diagnostics in oncology
- DNA microarrays and DNA microarrays for molecular diagnostics in oncology
By end user
- Molecular diagnostics in oncology used in diagnostic laboratories
- Molecular diagnostics in oncology used in hospitals and clinics
Analysts have used many leading industry-wide business intelligence tools to consolidate market facts, figures and data into revenue estimates and projections in Market Insights of Oncology Molecular Diagnostic.
Major market stakeholders including industry players, policy makers and investors from various countries have continuously realigned their strategies and approaches to implement them in order to take advantage of new opportunities.
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Key points of the market research
- The global molecular diagnostics in oncology market is expected to grow 2.3 times in value by 2031.
- The demand for reagents and kits will increase at a CAGR of 12.8% over the next ten years.
- The Chinese market is expected to reach a valuation of US $ 670 million by 2031.
- The markets in Japan and Canada are expected to grow 8% and 9%, respectively.
- The demand for PCR diagnostic technology will dominate the market over the next ten years.
The key parameters analyzed during the estimation of the molecular diagnostics in oncology market include:
- Analyze Drugs / Therapeutic Field in Oncology Molecular Diagnosis:Overall population by age group / prevalence or incidence of any disease / treatment seeking rate / dosing regimen / average duration of treatment / overall cost of treatment and reimbursement are taken into account.
- To analyze consumables for molecular diagnostics in oncology:
Overall population / disease prevalence or incidence / treatment request rate / average duration of treatment / average number of devices used per patient / average number of procedures per device / average selling price per device / reimbursement are taken into account.
- To analyze molecular diagnostic equipment in oncology:
Number of health facilities (hospitals / outpatient surgical centers / clinics, etc.)
The average number of devices installed per installation / device lifespan / equipment replacement rate / new equipment sales per year / average sales price per equipment are taken into account.
Some of the insights and estimates of Molecular Oncology Diagnostics Market that makes this study unique in approach and effective in guiding stakeholders in understanding growth dynamics. The study provides:
- Details regarding the latest innovations and developments in molecular diagnostics in oncology and how it is gaining popularity with customers during the forecast period.
- Analysis of customer demand for products and how it is likely to evolve in the years to come.
- Latest regulations enforced by government agencies and local agencies and their impact on oncology molecular diagnostics market demand.
- Information on the adoption of new technologies and its influence on the size of the Molecular Diagnostics in Oncology market.
- Overview of the impact of COVID-19 on the molecular oncology diagnostics market and the economic disruption caused by the pandemic.
- Assesses the post-pandemic impact on Molecular Oncology Diagnostics market sales during the forecast period.
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Leading oncology molecular diagnostic service providers, in an attempt to achieve stability, are adopting strategies such as specialty product development. The main players in the molecular diagnostics in oncology market are also entering into collaborations with the main brands of molecular diagnostic instruments in oncology, for the development of companion diagnostics relating to cancer.
Some of the key developments are:
- In September 2015; Roche has launched the Cobas EGFR v2 mutation assay, used for the diagnosis of non-small cell lung cancer (NSCLC), which is expected to drive the growth of this market.
- Qiagen and Lilly announced their intention to jointly develop companion diagnostics to target cancer biomarkers.
- In February 2019, ICON plc, a US-based biotechnology company, acquired MolecularMD for an undisclosed amount. The acquisition enhances ICON’s laboratory offering in molecular diagnostic testing and provides ICON with extensive test platforms, including next-generation sequencing and immunohistochemistry (IHC).
Read more trend reports from Fact.MR: – https://www.biospace.com/article/oral-antivirals-manufacturers-reliant-on-viral-and-chronic-diseases-drug-discovery-for-future-expansion-fact-mr/
How Fact.MR helps take strategic action for the Molecular Oncology Diagnostics Market Manufacturer?
- The data provided in the Molecular Oncology Diagnostics market report offers a comprehensive analysis of significant industry trends. Industry players can use this data to strategize their potential trade movements and generate remarkable revenue over the coming period.
- The report covers price trend analysis and value chain analysis as well as the analysis of the diverse supply of market players. The primary motive for this report is to help companies make data-driven decisions and strategize for their trade movements.
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