Asia–Pacific oncology molecular diagnostics Market Expected to Reach $1,456.83 Million by 2035

According to a new report published by Allied Market Research, titled, “Asia–Pacific oncology molecular diagnostics Market: Opportunity Analysis and Industry Forecast, 2024–2033," The Asia–Pacific oncology molecular diagnostics market was valued at $343.31 million in 2023 and is estimated to reach $1,456.83 million by 2035, exhibiting a CAGR of 13.0% from 2024 to 2035.

Oncology molecular diagnostics involve using molecular biology techniques to analyze genetic, proteomic, and metabolic markers in cancer patients. These diagnostics identify specific mutations, gene expression levels, and other biomarkers that drive cancer growth, enabling a more precise understanding of a tumor's characteristics. By uncovering the genetic basis of a patient’s cancer, molecular diagnostics guide personalized treatment options, tailoring therapies to target the unique genetic profile of the tumor. This approach enhances the efficacy of treatments, as it allows for the selection of targeted therapies and immunotherapies likely to be most effective for the individual patient, reducing unnecessary treatments and minimizing side effects. Additionally, these diagnostics aid in monitoring disease progression, detecting residual disease, and identifying potential relapses earlier.

The major factors driving the growth of the market are government initiatives and funding, rising healthcare expenditure, increased access to healthcare and growing awareness of early cancer detection. Government initiatives and funding have played a pivotal role in driving the Asia–Pacific oncology molecular diagnostics market. Various countries in the region, recognizing the rising cancer burden and the importance of early detection, have implemented national cancer control programs that prioritize advanced diagnostic technologies, including molecular diagnostics. For instance, in September 2024, quad countries (U.S., Australia, India, and Japan) launched cancer moonshot initiative to reduce the burden of cancer in the Indo-Pacific. The Quad Cancer Moonshot will serve to strengthen the overall cancer care ecosystem in the Indo-Pacific by improving health infrastructure, expanding research collaborations, building data systems, and providing greater support for cancer prevention, detection, treatment, and care.

Additionally, several governments have been actively fostering collaborations between public institutions and private companies to accelerate innovation in molecular diagnostics. For instance, in April 2023, Novartis AG extended its collaboration with laboratories in Malaysia to enhance access to PIK3CA testing to extend the early diagnosis and intervention on advanced breast cancer (ABC) to improve patient’s quality of life. These efforts have resulted in development of infrastructure for diagnostic facilities, ensuring wider access to cutting-edge diagnostics for early-stage cancer detection.

Rising healthcare expenditure is a significant driver for the Asia-Pacific oncology molecular diagnostics market. According to the Ministry of Health, Singapore’s National Health expenditure could increase to $43 billion in 2030. As regional governments and private healthcare sectors increase investments in healthcare, they enable broader access to advanced diagnostic tools and technologies, including molecular diagnostics for oncology. These diagnostics are essential for early cancer detection, accurate disease characterization, and personalized treatment planning, all of which are crucial for improving patient outcomes. Countries such as China, Japan, and India are witnessing substantial growth in healthcare budgets, reflecting a prioritization of innovative cancer detection methods. Furthermore, rising healthcare spending helps expand infrastructure in both urban and rural areas, improving the availability of molecular diagnostics across diverse demographics. Increased expenditure also supports training healthcare professionals, ensuring that high-quality diagnostics are consistently applied. Thus, the rise in healthcare expenditure is expected to contribute significantly in the growth of the market.

The Asia–Pacific oncology molecular diagnostics market is segmented on the basis of application, type, end user, and country. On the basis of application, the market is divided into colorectal cancer, gastric cancer, breast cancer, lung cancer, and other cancers. As per type, the market is segmented into polymerase chain reaction (PCR), next generation sequencing (NGS), fluorescence In Situ Hybridization (FISH), spectrometry, immunohistochemistry, and others. On the basis of end user, the market is divided into hospitals, reference laboratories, and others. Country-wise, the market is analyzed across Japan, China, Australia, India, South Korea, New Zealand, Singapore, Hong Kong, Taiwan, Thailand, Vietnam, Malaysia, Indonesia, Philippines, Pakistan, Myanmar and Rest of Asia-Pacific.

On the basis of application, the other cancers segment was the major revenue contributor in 2023. This is attributed to high prevalence of other cancer such as prostate cancer, ovarian cancer, pancreatic cancer, liver cancer, thyroid cancer. On the basis of type, the polymerase chain reaction (PCR) segment was the major revenue contributor in 2023. This is attributed to high sensitivity, specificity, and efficiency in detecting genetic mutations and alterations associated with cancer. On the basis of end user, the hospitals segment was the highest revenue contributor in 2023. This is attributed to the fact that hospitals in Asia Pacific, particularly in countries like China, Japan, and India, are rapidly upgrading their infrastructure to incorporate state-of-the-art molecular diagnostic tools, enhancing their ability to serve as primary centers for cancer diagnostics.

Key Findings of the Study

• By application, the other cancers segment was the highest contributor to the market in 2023.
• By type, the polymerase chain reaction (PCR) segment was the highest contributor to the market in 2023.
• By end user, the hospitals segment dominated the market in 2023 and is expected to continue this trend during the forecast period.