Molecular diagnosis is a method used to identify a disease at the molecular level, such as proteins, DNA, and RNA, in a tissue or fluid. Various tools are used to detect specific sequences of DNA or RNA that may or may not be associated with the disease such as single nucleotide polymorphism (SNP), deletions, rearrangements, and insertions, which are used for diagnosis and prediction of various infectious diseases, cancer, and other genetic disorders.
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According to Allied Market Research, the “Asia-Pacific oncology molecular diagnostics market was valued at $381.84 million in 2018 and is estimated to reach $732 million by 2026 growing at a CAGR of 9% for the forecast period of 2019–2026”. Factors such as increase in prevalence of various types of cancer, rise in awareness and acceptance of personalized medicines, and growth in biomarker identification drive the growth of this oncology molecular diagnostics market.
The market is segmented on the basis of application, end user, and country. By application, it is segmented into colorectal, lung, hematological, breast, and others. By end-user, it is categorized into hospitals, reference laboratories, and others (research institutes and academic institutes).
Country wise, the Asia-Pacific oncology molecular diagnostics market is analyzed across Australia, Vietnam, the Philippines, Thailand, and rest of Asia-Pacific. Australia was the highest contributor with $91.26 million in 2018, and is estimated to reach $175.55 million by 2026, registering a CAGR of 9.0% during the forecast period. This is attributed to rise in incidences of cancer cases and surge in demand for faster diagnosis of cancer.
Key Market Players
• ABBOTT LABORATORIES
• bioMérieux SA
• Qiagen N.V.
• F. Hoffmann-La Roche Ltd
• Siemens Healthineers
• Danaher (Cepheid)
• Diasorin SPA
• Illumina Inc.
• Agilent Technologies Inc.
• Sysmex Corporation
Key Advantages of the Report
• This report provides a detailed quantitative analysis of the current Asia-Pacific oncology molecular diagnostics market trends and forecast estimations
• An in-depth oncology molecular diagnostics market analysis includes analysis of various regions
• A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
• Country-wise market conditions are comprehensively analyzed in this report.
• Key market players within the oncology molecular diagnostics market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook.