Hematologic Malignancies Testing Market to be dominated by Growing Occurrences of Blood Cancer through 2027
Growing incidences of blood
related disorders and the rising awareness among patients about initial
diagnosis to drive the hematologic malignancies testing market in the forecast
period, 2023-2027.
According to TechSci Research report, “Hematologic
Malignancies Testing Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2017-2027”, the global hematologic malignancies testing market is
anticipated to grow at a significant rate in the forecast period, 2023-2027. The
growing occurrences of blood cancer, the increasing awareness among patients
and healthcare professionals, and extensive development in the field of
molecular diagnostics are the primary factors driving the demand for the global
hematologic malignancies testing market. The rise in R&D activities, growing
favorable government funding, surge in the number of patients, rising healthcare
expenditure, growing geriatric base, and rising emphasis on personalized
medicine are expected to influence the market demand. Also, the growing
adoption of inorganic growth strategies such as partnerships, mergers,
acquisitions, collaborations, and product launches undertaken by the market
players are also a key factor for increasing the growth of the hematologic
malignancies testing market, globally.
However, the lack of qualified professionals,
issues concerning the analytical validity of cancer genetic testing, increasing
costs of testing equipment, and high cost associated with tests may hamper the
growth of the global hematologic malignancies testing market.
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data Figures spread through 110 Pages and an in-depth TOC on "Hematologic Malignancies Testing Market"
The global hematologic
malignancies testing market is segmented into component, technique, therapeutic
indication, end user, and company.
Based on component, the
market is divided into kits and services. Based on kits, the market is further
divided into gene panels, molecular clonality testing, translocation testing,
mutation testing, and others. The services segment is expected to hold the
largest market share. This is attributed to the rise in the incidence of
leukemia, non-Hodgkin lymphoma, and myeloma cancers and rising awareness of
innovative technologies.
Based on technique, the
market is divided into next-generation sequencing (NGS), polymerase chain
reaction (PCR), fluorescence in-situ hybridization (FISH), immunohistochemistry
(IHC), and others. The next-generation sequencing segment is anticipated to grow during
the forecast period. This is attributed to the rapid advancement in technology
which allows identification of gene changes in DNA/RNA.
Based on therapeutic
indication, the market is divided into leukemia, lymphoma, multiple myeloma,
myeloproliferative neoplasms, and others. The leukemia segment is anticipated
to grow during the forecast period. This is attributed to the growing
occurrences of leukemia, and rising demand for early detection of the cancer.
Based on end user, the market is divided into
hospitals & clinics, diagnostic laboratories, academic & research
institutions, and others. The hospitals & clinics segment is anticipated to
grow during the forecast period. This is attributed to the growing healthcare
infrastructure, vast population pool, and increasing healthcare expenditure.
Major operating companies
operating in global hematologic malignancies testing market are:
- Abbott Laboratories, Inc.
- Asuragen Inc.
- Bio-Rad Laboratories, Inc.
- Adaptive Biotechnologies Corporation
- F.Hoffmann-La-Roche AG
- Illumina, Inc.
- ICON plc.
- Invitae Corporation
- Laboratory Corporation of America
Holdings
- Invivoscribe, Inc
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“North America region dominates the
market in 2021 and is expected to maintain its dominance in the coming years
due to increasing prevalence of blood cancer and advancements in tools and
techniques. The upsurge in research and development activities, existing
advanced healthcare facilities, large patient population, increase in
healthcare expenditure and favorable government initiatives in the healthcare
sector in the region are another key factor. Also, increasing adoption of
research collaborations in the region are expected to propel the global hematologic
malignancies testing market growth till 2027” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Hematologic Malignancies
Testing Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2017-2027 Segmented By Component (Kits v/s Services), By Technique
(Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR),
Fluorescence In-Situ Hybridization (FISH), Immunohistochemistry (IHC), Others),
By Therapeutic Indication (Leukemia, Lymphoma, Multiple Myeloma,
Myeloproliferative Neoplasms, Others), By End User (Hospitals & Clinics,
Diagnostic Laboratories, Academic & Research Institutions, Others), By
company and By Region”, has evaluated the future growth potential of global hematologic
malignancies testing market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in global hematologic
malignancies testing market.
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