MolecularMD is a US-based molecular diagnostic specialty laboratory that enables the development and commercialization of precision medicines in oncology. In February 2019, ICON plc, a US-based biotechnology company, acquired MolecularMD for an undisclosed amount.The acquisition enhances ICONвЂ™s laboratory offering in molecular diagnostic testing and brings to ICON expanded testing platforms, including next-generation sequencing, and immunohistochemistry (IHC). Therefore, the high cost of molecular diagnostic tests is expected to hamper the growth of the oncology molecular diagnostics market. The high cost of molecular diagnostic tests is a key factor hampering the growth of the oncology molecular diagnostics market.The cost of molecular diagnostic testing is comparatively higher in cancer care and it also depends on the type of therapy.ДЇor example, the cost of the molecular diagnostic test for non-small cell lung cancer monotherapy costs about $10,000 to $20,000 per month, and these costs are expected to increase in combination therapy. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. It is also segmented by technology into polymerase chain reaction (PCR), in-situ hybridization (ISH), isothermic nucleic acid amplification technology (INNAT), chips & microarrays, sequencing, mass spectroscopy, transcription mediated amplification (TMA), others and by end-user into hospitals, diagnostic centers, academic & research institutes, others.

The oncology molecular diagnostics market covered in this report is segmented by product into instruments, reagents, others. This study is most usually performed on blood, saliva, or tumor tissue samples. The oncology molecular diagnostics market consists of sales of molecular diagnostic instruments, kits and reagents used for diagnosing cancers and related services by entities (organizations, sole traders and partnerships) that produce molecular diagnostic equipment for diagnosing cancer.Molecular diagnostics are tests that diagnose genetic information, proteins or related molecules and provide health or disease information. The market is expected to reach $9.56 billion in 2025 at a CAGR of 11%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global oncology molecular diagnostics market is expected to grow from $5.59 billion in 2020 to $6.25 billion in 2021 at a compound annual growth rate (CAGR) of 11.8%. 24, 2021 (GLOBE NEWSWIRE) - announces the release of the report 'Oncology Molecular Diagnostics Global Market Report 2021: COVID-19 Growth And Change To 2030'. , Roche Diagnostics, and Siemens Healthcare. Major players in the oncology molecular diagnostics market are Abbott Diagnostics, Becton Dickinson, Cepheid, Danaher Corporation, Beckman Coulter, Leica Biosystems, Gen Probe (Hologic), Qiagen N.

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