“The Global Cancer Molecular Diagnostics Market is expected to grow at a high CAGR during the forecasting period (2021-2028)”.
Cancer molecular diagnostics include the detection, diagnosis, sub-classification, prognosis, and monitoring response to therapy. These techniques identify the alterations in DNA or RNA sequence, associated with cancer. Molecular diagnostics are effective for analyzing the biological markers involved in inducing cancer and analyzing how cancer cells are expressing their genes. These techniques differentiate cancer from benign tumors, the type of tissue involved in cancer, and cancer subtypes.
Molecular diagnostics are useful for designing, implementing accurate diagnostic methods, and personalizing the therapeutic treatment modalities for cancer. Molecular diagnostics are useful for monitoring the outcomes among patients with cancer. These techniques determine the risk for cancer occurrence. Molecular diagnostics are useful for physicians to decide the requirement of the more intensive screening or preventive measures. The market is dominated by the availability of several molecular diagnostics techniques such as polymerase chain reaction (PCR), in situ hybridization, isothermal nucleic acid amplification technology (INAAT), chips & microarrays, mass spectrometry, sequencing, transcription-mediated amplification, and others.
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Increasing Incidence of Cancer is Driving the Growth of the Market
The market is driven by the increasing demand for cancer molecular diagnostics with the increasing incidence of cancer. According to the World Health Organization (WHO), the incidence cases of cancer was 18.1 million worldwide in 2018. Around, 9.6 million people died due to cancer in 2018. Globally, around one in 5 men and one in 6 women develop cancer during their lifetime. Around one in 8 men and one in 11 women die due to cancer worldwide. Approximately, the total number of people who are alive within 5 years of a cancer diagnosis was 43.8 million across the globe. Lung cancer, colorectal cancer, prostate cancer, breast cancer, esophagus cancer, and stomach cancer are the most common cancer worldwide. A large number of people are suffering from lung cancer followed by breast cancer, colorectal cancer, prostate cancer, and stomach cancer. Lung cancer accounts for 11.6% of all cancer incidence cases i.e., 2.09 million incidence cases, breast cancer accounts for 11.6% of all cancer incidence cases i.e., 2.08 million incidence cases, colorectal cancer accounts for 10.2% of all cancer incidence cases i.e., 1.84 million incidence cases, prostate cancer accounts for 7.1% of all cancer incidence cases i.e., 1.27 million incidence cases, stomach cancer accounts for 5.7% of all cancer incidence cases i.e., 1.03 million incidence cases.
By Cancer Type
Reagents & Kits
Polymerase Chain Reaction (PCR)
Transcription Mediated Amplification (TMA)
In Situ Hybridization
Institutes & Academics
The Middle East and Africa
The cancer molecular diagnostics market studied is a fragmented market with the presence of a large number of market players. Abbott Laboratories, Bayer Healthcare, Becton Dickinson, Danaher Corporation, Qiagen N.V., Roche Diagnostics, Siemens Healthcare, Beckman Coulter, and Nuvera Biosciences are the major market players with the significant market share. Companies are adopting several growth strategies such as product launches, acquisitions, mergers, collaborations, and licensing for increasing their market presence.
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