IMARC Group provides an analysis of the key trends in each sub-segment of the global oncology molecular diagnostics market, along with forecasts at the global, regional and country level from 2022-2027. Moreover, regular screening for cancer patients has witnessed a decline due to the repurposing of diagnostics resources for providing COVID-19 testing and consequent reduction in oncology testing. However, due to the sudden outbreak of the coronavirus disease (COVID-19), several healthcare institutions are undertaking steps to mitigate the risk of the pandemic on cancer patients by reducing the number of medical appointments. Furthermore, a rise in the number of individuals suffering from viral and bacterial infections and the increasing participation in blood donation campaigns is positively influencing the demand for oncology molecular diagnostics worldwide. Apart from this, the escalating demand for rapid and accurate diagnosis, along with advancements in next generation sequencing (NGS) techniques, is contributing to the growth of the market. The rising prevalence of cancer on account of changing lifestyles, growing geriatric population, and the increasing trend of smoking represents one of the major factors impelling the global oncology molecular diagnostics market growth. To get more information about this market, Request Sample They are also used in blood banks to identify pathogens and infectious diseases present in the donated blood samples.
These diagnostics solutions find application in clinical and point-of-care (POC) testing for early detection of cancer. Oncology molecular diagnostics help perform rapid analysis and provide detailed information that is further utilized in the personalized treatment of cancer. Several tests are performed on the blood, saliva, and tumor tissue samples for detecting and measuring specific genetic sequences in the DNA, RNA, and cell proteins. Oncology molecular diagnostics identify the presence of cancer cells by analyzing their biological molecules. These insights are included in the report as a major market contributor. The global oncology molecular diagnostics market reached a value of US$ģ.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ħ.3 Billion by 2027, exhibiting a CAGR ofġ4.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on differentĮnd use sectors.
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