As per industry analysis on oncology molecular diagnostics by Fact.MR, the global market was valued at around US$ 1.7 Bn in 2020 and is anticipated to reach a valuation of US$ 4 Bn by 2031.
Demand for oncology molecular diagnostics is driven by increasing prevalence of infectious diseases and cancer, rising funding towards R&D, increase in PoC (point of care) testing devices, and various technological advancements.
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According to Fact.MR, a market research and competitive intelligence provider, the global oncology molecular diagnostic market was estimated at US$ 1.3 Bn in 2016 and is anticipated to expand at a CAGR of 11% from 2021 to 2031. The market is being driven by sales of oncology molecular diagnostic instruments, kits, and reagents used for diagnosing cancer.
Molecular diagnostics are tests for oncology diagnose genetic information, proteins or related molecules, and provide health or disease information. This study is usually performed on blood, saliva, or tumor tissue samples.
| Attribute | Details |
| Market size value in 2020 | USD 1.7 Billion |
| Market forecast value in 2031 | USD 4 Billion |
| Growth Rate | CAGR of 11% from 2021 to 2031 |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | US$ Mn for Value & ‘000 Units for Volume |
| Key Regions Covered |
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| Key Countries Covered |
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| Key Market Segments Covered |
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| Key Companies Profiled |
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| Pricing | Available upon Request |
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