Global Oncology Molecular Diagnostics Market 2015-2019

DUBLIN, Oct. 20, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/vzd2fr/global_oncology) has announced the addition of the "Global Oncology Molecular Diagnostics Market 2015-2019" report to their offering.

The global oncology molecular diagnostics market to grow at a CAGR of 17.8% over the period 2014-2019.

The report, Global Oncology Molecular Diagnostics Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers APAC, Europe, Latin America, MEA, and North America; it also covers the landscape of the market and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.

Molecular diagnostics is one of the most transformative and dynamic areas of diagnostics. It is a technique used for analyzing biological markers in proteome and genome. Molecular diagnostics tests are increasingly used in oncology, infectious disease, pharmacogenomics, and human leukocyte antigen typing.

Oncology molecular diagnostics is a major application of molecular biology and is increasingly used for cancer screening, therapy selection, diagnosis, and relapse monitoring. Some of the major that are diagnosed and treated by molecular diagnostics are breast, ovarian, cervical, head and neck, pancreatic, colorectal, brain, prostate, lung, and endometrial cancers.

According to the report, proteins and genes control the biochemical functions of the body. Any defect in the structure of a particular protein or gene can lead to specific conditions and disorders. The development of personalized drugs depends on the identification and study of protein and gene expressions. These drugs are customized to an individual's protein or genetic profiles. Personalized medicines have high demand in oncology therapy since conventional cancer drug therapies fail to achieve desired patient outcomes. Many pharmaceutical companies are now developing personalized medicines to provide better patient management.

Further, the report states that insurance coverage and reimbursement issues is affecting the market growth.

To calculate the market size, the report considers revenue generated through the sales of diagnostics assay kits and instruments for cancers, which include:

- Breast

- Colorectal

- Prostate

- Others (including lung and cervical cancers)

Key vendors

- Abbott Diagnostics

- Becton, Dickinson and Company

- QIAGEN

- Roche Diagnostics

For more information visit http://www.researchandmarkets.com/research/vzd2fr/global_oncology

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SOURCE Research and Markets