Asia-Pacific Oncology Molecular Diagnostics Market by Application, End User and Country: Regional Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to the report titled, 'Asia-Pacific Oncology Molecular Diagnostics Market by Application, End user, and Country: Regional Opportunity Analysis and Industry Forecast, 2019-2026', the Asia-Pacific oncology molecular diagnostics market was valued at $318.84 million in 2018 and is projected to reach $732 million by 2026, growing at a CAGR of 9% from 2019 to 2026.

The hospitals segment was the highest contributor to the market, and is estimated to reach $354.46 million by 2026, at a CAGR of 9.0% during the forecast period.

Molecular diagnosis is a method used to identify a disease at the molecular level, such as proteins, DNA, and RNA, in a tissue or fluid. Various tools are used to detect specific sequences of DNA or RNA that may or may not be associated with the disease such as single nucleotide polymorphism (SNP), deletions, rearrangements, and insertions, which are used for diagnosis and prediction of various infectious diseases, cancer, and other genetic disorders.

Factors such as increase in prevalence of various types of cancer, an increase in awareness and acceptance of personalized medicines, and growth in biomarker identification drive the growth of this market. Whereas, lack of skilled professional and stringent regulatory requirements for approval of new molecular diagnostic techniques restrain market growth.

Growth in funding by governments and numerous organizations for Research & Development (R&D) activities in molecular diagnostics is anticipated to drive the demand for the molecular diagnostics market. In addition, funding plays an important role in product development, product expansion, and product enhancement process.

Among application, lung cancer segment held a dominant portion in the market, accounting for about two-thirds share of the Asia-Pacific Oncology Molecular Diagnostics market. This is attributed to rise in incident rate of lung cancer cases with sub-standard prediction of diagnosis and elevated mortality rate, in addition need for timely diagnosis of cancer will drive the overall market during the forecast period. Lung cancer is the most common cause of cancer-related deaths in Asia. It is categorized by cell type such as non-small cell lung cancer (NSCLC) and small cell lung cancer. NSCLC is responsible for around 85% of cases and, as a result, is the primary focus in the development of personalized therapies.

Among end user, the hospital segment is expected to grow at a significant CAGR of 9% during the forecast period. Most diagnostic tests are carried out in hospital laboratories, hence molecular diagnostic products are often used in hospitals. The presence of molecular diagnostics instruments in hospitals give total cure to patients by quick analysis and diagnosis of cancer to start required treatment at the right time. Therefore, easy accessibility of molecular diagnostics at hospitals majorly drive the molecular diagnostics market in hospitals.

Key Findings of the Study:

Lung cancer is expected to be one of the most lucrative segments, registering a CAGR of 9.5% during the forecast period.
Australia dominated the Asia-Pacific oncology molecular diagnostics market, and is projected to retain this trend throughout the forecast period.
Rest of Asia-Pacific is expected to exhibit the highest growth in the Asia-Pacific oncology molecular diagnostics market, registering a CAGR of 9.3% during the forecast period.

The report provides a comprehensive analysis of the key players operating in the Asia-Pacific Oncology Molecular Diagnostics market, namely F. Hoffmann-La Roche AG, BioMérieux SA, Abbott Laboratories, Qiagen N.V., Illumina, Danaher Corporation, S.A., Novartis AG, and Siemens Healthcare.

Companies Mentioned

• F. Hoffmann-La Roche AG
• BioMérieux SA
• Abbott Laboratories
• Qiagen N.V.
• Illumina
• Danaher Corporation
• S.A.
• Novartis AG
• Siemens Healthcare

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.