Oncology Molecular Diagnostics Market Size Drives USD 9.76 Billion by 2034

The global oncology molecular diagnostics market is valued at USD 3.48 billion in 2025 and is projected to grow to USD 9.76 billion by 2034, reflecting a compound annual growth rate (CAGR) of 12.13% over the forecast period.

Ottawa, Sept. 05, 2025 (GLOBE NEWSWIRE) -- According to a study by Towards Healthcare, a sister company of Precedence Research, the global oncology molecular diagnostics market was estimated at USD 3.11 billion in 2024 and is projected to reach USD 9.76 billion by 2034, growing at a compound annual growth rate (CAGR) of 12.13%.

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Key Takeaways

North America dominated the global oncology molecular diagnostics market in 2024.
Asia-Pacific is anticipated to grow at the fastest rate in the market during the forecast period.
By type, the breast cancer segment held a dominant presence in the market in 2024.
By type, the liver cancer segment is predicted to witness significant growth in the market over the forecast period.
By product, the reagents segment led the global oncology molecular diagnostics market in 2024 and is estimated to gain significant growth in the market over the coming years.
By technology, the PCR segment held the largest share of the market in 2024.
By technology, the sequencing segment is anticipated to show lucrative growth in the market during the forecast period.

Market Overview & Potential

Molecular diagnostics is a laboratory technique that identifies diseases or disease risks by analyzing molecules in DNA, RNA, and proteins. In oncology, these diagnostics enable clinicians to detect potential biomarkers involved in cancer progression. Techniques such as next-generation sequencing (NGS) provide comprehensive cancer genomic profiling. Common molecular diagnostic tests for cancer include tests for human papillomavirus (HPV), BRCA1 and BRCA2 genes, CA125 protein, HER2 gene, and KIT gene. These tests help determine if a person should undergo more intensive screening or take preventive measures.

Market growth is driven by factors like the rising incidence and complexity of cancer, which require advanced diagnostic methods. Increased research, development activities, and investments support the creation of more sophisticated molecular diagnostics. Supportive government policies and initiatives promote early screening and detection. Technological advances fuel innovations in molecular testing, while the demand for personalized medicine and progress in genomics and proteomics further boost market expansion.

What is the Growth Potential Responsible for The Growth of The Oncology Molecular Diagnostics Market?

The growth of the market is driven by the increased cancer incidence, which increases the demand for molecular diagnostic tools for accurate diagnosis, which fuels the growth of the market. The advancements in precision medicine demand due by the growing adoption of personalized medicine and targeted therapies in cancer treatment, further increasing the growth of the market. Technological innovation, like demand for early detection and monitoring, growing research and development funding, expanding healthcare infrastructure, unhealthy lifestyles, and environmental factors, and strategic collaborations, further boost the growth and expansion of the market.

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What Are the Growing Trends Associated with the Oncology Molecular Diagnostics Market?

Liquid Biopsy & Biomarker Discovery:

Advances in liquid biopsy technology and ongoing efforts in biomarker discovery and validation are improving the early detection and monitoring of cancer.

Growth in Companion Diagnostics (CDx):

The development of companion diagnostics is increasing, which is essential for selecting patients for targeted cancer therapies.

Personalized Medicine & Precision Oncology:

The shift towards precision medicine fuels demand for molecular diagnostics to identify patient-specific genetic mutations and biomarkers for targeted therapies.

Integration of AI:

Artificial intelligence is being integrated into diagnostic tools and screening programs to improve accuracy and efficiency in cancer detection.

What Is the Growing Challenge in the Oncology Molecular Diagnostics Market?

The key challenge that hinders the growth of the market is the high cost of reagents, advanced equipment, and kits lowers the adoption, contributing to the limited growth, affecting the profitability of the market. Other challenges are the regulatory hurdles, workforce and infrastructure gaps, reimbursement issues, and data management and security are the key hurdles that restrict the growth and expansion of the market.

Regional Analysis

How Did North America Dominate the Oncology Molecular Diagnostics Market in 2024?

North America dominated the global oncology molecular diagnostics market in 2024. The growth of the market is driven by the rising prevalence of cancer incidence, which increases demand for molecular diagnostic tests due to increased demand for personalized medicine in the region for individual patient profiles, which fuels the growth of the market. The innovations in technologies such as NGS and PCR enable more accurate and early cancer detection, which further fuels the growth in the region. The growth is also driven by the significant R&D funding, high adoption of advanced diagnostic techniques, and supportive reimbursement policies in North America, which boost the growth and expansion of the market.

U.S. Oncology Molecular Diagnostics Market Growth:

The U.S. oncology molecular diagnostics market size is calculated at USD 810 million in 2024, grew to USD 909.14 million in 2025, and is projected to reach around USD 2570.17 million by 2034, expanding at a CAGR of 12.24% between 2025 and 2034.

What Made the Asia Pacific Significantly Grow in The Oncology Molecular Diagnostics Market In 2024?

Asia-Pacific is anticipated to grow at the fastest rate in the market during the forecast period. The growth of the market is driven by the rising aging population in the region, which demands sophisticated diagnostic and personalized treatment solutions, further fueling the growth of the market in the region. The key players like Abbott, Roche Diagnostics, Thermo Fisher Scientific, Danaher, and Qiagen play a significant role in the growth of the market through innovation and research. The government initiatives to enhance awareness of genetic testing and standardize reimbursement policies contribute to market expansion in the region.

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Segmental Insights

By type,

How Did Breast Cancer Segment Dominate The Oncology Molecular Diagnostics Market In 2024?

The breast cancer segment held a dominant presence in the market in 2024. Breast cancer diagnostics form a significant share of the oncology molecular diagnostics market, driven by rising awareness, early screening initiatives, and the availability of targeted therapies. Molecular tests enable precise detection of genetic mutations, aiding in personalized treatment decisions. Continuous innovation in biomarkers and companion diagnostics supports more accurate results, enhancing clinical outcomes. Growing prevalence and strong emphasis on early detection programs make breast cancer diagnostics a key driver of market expansion.

The liver cancer segment is predicted to witness significant growth in the market over the forecast period. Liver cancer diagnostics are gaining momentum within the oncology molecular diagnostics market due to increasing incidence rates and the need for early-stage identification. Molecular tools assist in detecting mutations, monitoring disease progression, and guiding targeted therapies. Advancements in liquid biopsy and next-generation sequencing enhance non-invasive diagnosis, improving patient management. The growing burden of liver cancer and rising demand for reliable diagnostic solutions contribute to the strong uptake of molecular testing technologies.

By product,

Which Product Segment Dominates The Oncology Molecular Diagnostics Market In 2024?

The reagents segment led the global oncology molecular diagnostics market in 2024 and is estimated to experience significant growth in the market over the coming years. Reagents represent the most essential product segment in oncology molecular diagnostics, as they are critical for performing PCR, sequencing, and other advanced assays. Constant demand for consumables like primers, probes, and buffers ensures steady market growth. Manufacturers focus on high-quality, standardized reagents to improve sensitivity and specificity in cancer detection. The recurring nature of reagent usage makes it a revenue-intensive segment, driving consistent adoption across clinical laboratories and research centers.

By technology,

How did PCR Segment Dominate the Oncology Molecular Diagnostics Market in 2024?

The PCR segment held the largest share of the market in 2024. Polymerase chain reaction (PCR) technology dominates oncology molecular diagnostics due to its high sensitivity, specificity, and cost-effectiveness. Widely used for detecting mutations and gene amplifications in cancers, PCR remains a cornerstone technique for both clinical and research applications. Real-time PCR further enhances diagnostic accuracy, enabling faster results. Its ability to process large sample volumes with reliability ensures strong market demand, particularly in breast and liver cancer diagnostic workflows.

The sequencing segment is anticipated to show lucrative growth in the market during the forecast period. Sequencing technologies are rapidly advancing in oncology molecular diagnostics, enabling comprehensive analysis of cancer genomes. Next-generation sequencing (NGS) provides deeper insights into mutation profiles, guiding precision medicine and targeted therapies. The technology supports multi-gene testing in a single assay, making it invaluable for complex cancer cases. While cost remains a consideration, ongoing technological improvements and growing clinical adoption position sequencing as a transformative force in cancer diagnostics.

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Recent Developments

In December 2024, researchers from the Center for Genomic Regulation, Barcelona, developed novel, non-invasive diagnostic tests that detect different types of cancer faster and earlier. The researchers discovered chemical modifications in ribosomes to detect the early stage of cancer.
In September 2024, researchers from Harvard Medical School developed a versatile, ChatGPT-like AI model to perform an array of diagnostic tasks across multiple forms of cancer. The model can also guide treatment choice and predict survival of multiple cancer types.

Oncology Molecular Diagnostics Market Key Players

Abbott Laboratories
Ataraxis AI
Agilus Diagnostics
Biocartis
Danaher Corporation
F. Hoffman-La Roche Ltd.
Gencurix
Illumina, Inc.
Lucence
Naveris, Inc.
Roche Diagnostics
Siemens Healthineers
Thermo Fisher Scientific
QIAGEN

Browse More Insights of Oncology Sector from Towards Healthcare:

The global oncology biosimilars market is estimated at USD 6.7 billion in 2024, rising to USD 7.94 billion in 2025, and is projected to reach approximately USD 36.23 billion by 2034, growing at a robust CAGR of 18.47% between 2025 and 2034.

The global tele-oncology market is valued at USD 4.74 billion in 2024, expected to grow to USD 5.49 billion in 2025, and is forecasted to reach around USD 20.48 billion by 2034, expanding at a CAGR of 15.76% over the same period.

The U.S. oncology pharmaceuticals market is witnessing strong growth. The market reached USD 95.69 billion in 2024, increased to USD 105.2 billion in 2025, and is projected to hit nearly USD 246.85 billion by 2034, with a CAGR of 9.94% during the forecast period.

The global immuno-oncology drugs market is expected to expand from USD 94 billion in 2024 to USD 109.39 billion in 2025, reaching approximately USD 421.27 billion by 2034, growing at a CAGR of 16.34% between 2025 and 2034.

The oncology drug discovery market is set for significant growth from 2024 to 2034, driven by advancements in precision medicine, AI-enabled drug development, and an expanding pipeline of targeted therapies.

The global microfluidics in oncology market is on a rising trajectory, with potential revenue growth reaching into the hundreds of millions between 2025 and 2034.

The multiple modalities in oncology market is rapidly evolving worldwide, with expectations of generating hundreds of millions in revenue over the forecast period.

The global proteomics in oncology market is poised for substantial growth, with revenue potentially climbing into the hundreds of millions from 2025 to 2034.

The global oncology NGS market was valued at USD 508.95 million in 2024, rose to USD 589.01 million in 2025, and is projected to reach around USD 2,193.49 million by 2034, growing at a CAGR of 15.73% between 2024 and 2034.

Segments Covered in The Report

By Type

Breast Cancer
Prostate Cancer
Colorectal Cancer
Cervical Cancer
Liver Cancer
Lung Cancer
Blood Cancer
Kidney Cancer
Others

By Product

Instruments
Reagents
Others

By Technology

PCR
In-situ Hybridization
INAAT
Chips & Microarrays
Mass Spectrometry
Sequencing
TMA
Others

By Region

North America
- U.S.
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
Latin America
- Brazil
- Mexico
- Argentina
Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait

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About Us

Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics, with a strong emphasis on life science research. Dedicated to advancing innovation in the life sciences sector, we build strategic partnerships that generate actionable insights and transformative breakthroughs. As a global strategy consulting firm, we empower life science leaders to gain a competitive edge, drive research excellence, and accelerate sustainable growth.

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