Asia-Pacific Oncology Molecular Diagnostics Market to Reach $1.24 Bn, Globally, by 2031 at 7.3% CAGR: Allied Market Research
23 Jun 2022
Gene TherapyVaccine
Rise in prevalence of different kinds of cancers, increase in geriatric population, and high-end technological advancements in molecular diagnostics techniques drive the growth of the Asia-Pacific oncology molecular diagnostics market.
PORTLAND, Ore., June 23, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Asia–Pacific Oncology Molecular Diagnostics Market,
By Application (Colorectal Cancer, Hematological Cancer, Breast Cancer, Lung Cancer, and Others), Type (Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), Fluorescence In-situ Hybridization (FISH), Spectrometry, and Others), and End User (Hospitals, Reference Laboratories, and Others) - Global Opportunities and Industry Forecasts, 2022-2031." According to the report published by Allied Market Research, the Asia-Pacific oncology molecular diagnostics industry was estimated at 610.17 million in 2021, and is expected to hit $1.24 billion by 2031, registering a CAGR of 7.3% from 2022 to 2031.
Download Sample PDF at: https://www.alliedmarketresearch.com/request-sample/6652
Drivers, restraints, and opportunities-
Rise in prevalence of different kinds of cancers, increase in geriatric population, growth in biomarker identification system, changes in lifestyle, and high-end technological advancements in molecular diagnostics techniques drive the growth of the Asia-Pacific oncology molecular diagnostics market. On the other hand, lack of healthcare insurance and less awareness among individuals regarding the benefits of skilled professionals for handling of the molecular diagnostics techniques impede the growth to some extent. However, rise in government introduce programs to raise proper awareness about cancer so as to reduce the burden of cancer population is expected to create lucrative opportunities in the industry.
Covid-19 scenario-
Steep decline in the number of patient visits in clinics and hospitals for cancer diagnosis during the pandemic impacted the Asia–Pacific oncology molecular diagnostics market negatively.
However, the market has almost recovered and got back to its previous track.
The lungs cancer segment to retain the lion's share-
By application, the lungs cancer segment held the major share in 2021, garnering around one-fourth of the Asia-Pacific oncology molecular diagnostics market. The same segment is also projected to cite the fastest CAGR of 7.9% throughout the forecast period, due to increase in geriatric population, changing lifestyle, and growth in biomarker identification system.
Specific Requirement on COVID-19? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/6652
The PCR segment to dominate by 2031-
By application, the PCR segment contributed to the lion's share in 2021, holding more than one-third of the Asia-Pacific oncology molecular diagnostics market. Increase in adoption of polymerase chain reaction (PCR) as it offers various advantages such as less time-consuming process drives the segment growth. However, the NGS segment is expected to manifest the fastest CAGR of 8.0% from 2022 to 2031. This is because it is easy to handle and requires low concentration of sample for test.
Rest of Asia-Pacific held the major share in 2021-
By region, the market across Rest of Asia-Pacific dominated in 2021, garnering more than four-fifths of the Asia-Pacific oncology molecular diagnostics market. The same region is also expected to cite the fastest CAGR of 7.7% throughout the forecast period. This is due to increase in adoption and acceptance for personalized medicines, up gradation of healthcare infrastructure, and higher investments for R&D activities across the province. The other countries analyzed in the report include Australia, Vietnam, Indonesia, Thailand, Philippines, Malaysia, and Singapore.
Key players in the industry-
Amoy Dx
F.Hoffmann-LA Roche Ltd.
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter
"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."
Trending Reports in Healthcare Industry (Book Now with 10% Discount):
Biomaterials Market - Global Opportunity Analysis and Industry Forecast, 2020–2028
Point of Care Diagnostics Market - Global Opportunity Analysis and Industry Forecast, 2020-2028
Cosmetic Implants Market - Global Opportunity Analysis and Industry Forecast, 2020–2028
Animal Vaccines Market - Global Opportunity Analysis and Industry Forecast, 2020–2028
Advanced Wound Care Market - Global Opportunity Analysis and Industry Forecast, 2020–2028
Digital Pathology Market - Global Opportunity Analysis and Industry Forecast, 2020–2028
AI in Healthcare Market - Global Opportunity Analysis and Industry Forecast, 2020–2028
Gene Therapy Market - Global Opportunity Analysis and Industry Forecast, 2020–2028
Telemedicine Market - Global Opportunity Analysis and Industry Forecast, 2020–2028
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
SOURCE Allied Market Research
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
-Drugs
-Chat with Hiro
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.