Oncology Molecular Diagnostics Market Size

Global Oncology Molecular Diagnostics Market size was valued at USD 2.47 Billion in 2023 and is poised to grow from USD 2.57 Billion in 2024 to USD 5.78 Billion by 2032, growing at a CAGR of 11.6% during the forecast period (2025-2032).

The market for oncology molecular diagnostics is growing very quickly as there is increasing demand for personalized medicine and an increased global burden of cancer. Because molecular diagnostics enable early tumour profiling and well-informed treatment selection, they are vital to the treatment of cancer. Physicians are able to identify specific genetic mutations and biomarkers that impact the progression of cancer and therapy response owing to the technological advancements in next-generation sequencing (NGS), polymerase chain reaction (PCR), and in situ hybridisation (ISH).

Precision oncology is one of the driving factors in the market. Companion diagnostics are now indispensable to treatment planning owing to advances in target therapy and increased knowledge about tumour biology. As drug manufacturers develop increasingly more medications based on biomarkers, there is an increased need for reliable diagnostic tools to stratify the patient population.

The oncology molecular diagnostics market is growing strongly with an increasing global burden of cancer and with more demand for personalised medicine. Molecular diagnostics are indispensable in the treatment and diagnosis of cancer by enabling early detection, correct tumour profiling, and informed treatment selection. Owing to technological advances in next-generation sequencing (NGS), polymerase chain reaction (PCR), and in situ hybridization (ISH), oncologists are able to identify specific genetic alterations and biomarkers impacting the progression of the tumour and the therapy response.

One strong driver fueling the market is the transition to precision oncology. The increased knowledge base regarding the biology of tumors and the surge in the use of targeted therapies has rendered companion diagnostics more critical in planning treatment. As pharmaceutical companies increasingly develop biomarker-driven drugs, the need for reliable diagnostic tools to stratify patients has surged. Furthermore, growing investments in cancer research and increased availability of molecular tests in clinical settings are expanding access to advanced diagnostics globally.

One of the primary restraints in this sector is the high expense of molecular diagnostics tests and the associated infrastructure costs. Healthcare systems in particular, especially in low- and middle-income countries are faced with issues of affordability and access, especially for molecular diagnostics tests. Complex regulatory approval pathways and the uncertainties surrounding reimbursement often creates commercialization delays for new diagnostic solutions and clinicians' adoption of them. While there are hurdles to development, further innovation, supportive health policies, and company, academic collaboration or partnerships are likely to help strengthen the market. The anticipated integration of artificial intelligence and digital pathology application to further enhance the efficiency of tests, accuracy of interpretation, and clinical utility of tests in oncology is also expected to fortify the market

Growing Adoption of Personalized Medicine

The market for oncology molecular diagnostics is expanding with the rising need for customized cancer therapies. Molecular diagnostics provide precise tumor profiling to help clinicians select targeted treatments. With the rising awareness and availability globally, the integration of molecular diagnostics into routine oncology care continues to gather momentum.