Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Global Hemato-Oncology Testing Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global hemato-oncology testing market accounted for USD 3.47 billion in 2023 and is expected to reach at USD 12.76 billion by 2034 with a CAGR of 12.57% during the forecast period 2024-2034.
The increase in the occurrence of myeloma & lymphoma, rise in funding for research & development (R&D) efforts, accessibility to advanced technology products, growing prevalence of cancer, surge in introduction of innovative molecular techniques, expanding availability of RT-PCR analysis for detecting cancers such as chronic myeloid leukemia (CML), acute myeloid leukemia (AML), & acute lymphocytic leukemia (ALL), increasing adoption of molecular diagnostic testing services, and rising approvals of new hemato-oncology testing products are some of the key factors boosting the market growth.
By cancer type, lymphoma was the highest revenue-grossing segment in the global hemato-oncology testing market in 2023 owing to the increasing incidence of Hodgkin & non-Hodgkin lymphoma and heightened efforts from both private & public organizations to raise awareness among the general population. Additionally, leukaemia is predicted to grow at the fastest CAGR during the forecast period owing to the rising accessibility of technologically advanced products for diagnosing acute myeloid leukemia (AML), increasing incorporation of machine learning, and surge in the introduction of new products.
By product, services was the highest revenue-grossing segment in the global hemato-oncology testing market in 2023 owing to the rising incidence of myeloma, non-Hodgkin lymphoma (NHL), & leukemia, increased awareness of various treatment options, including personalized medicine, and increase in collaborations between companies. Additionally, assay kits and reagents is predicted to grow at the fastest CAGR during the forecast period owing to the progress in developing novel diagnostic tests for myeloma.
By technology, PCR was the highest revenue-grossing segment in the global hemato-oncology testing market in 2023 owing to the its simplicity, effectiveness, precision, cost-effectiveness, & widespread availability. Additionally, NGS is predicted to grow at the fastest CAGR during the forecast period owing to the technology provides several benefits including enhanced sensitivity & specificity, and rise in the introduction of new tests. Many cancer researchers recognize the significant value of this technology in hemato-oncology and have been working on developing bioinformatics algorithms for cancer screening and test creation.
By end-user, hospitals was the highest revenue-grossing segment in the global hemato-oncology testing market in 2023 owing to the increase in the occurrence of blood cancers, along with a variety of diagnostic tests available and healthcare professionals to administer and monitor these tests. Additionally, academic & research institutes is predicted to grow at the fastest CAGR during the forecast period owing to the rise in the quantity of research institutes & laboratories, increasing demand for standardization in techniques such as dPCR, and growing focus on research and development studies aimed at advancing the field of hemato-oncology.
North America is anticipated to account for the highest revenue share during the forecast period owing to the increase in the occurrence of leukemia, lymphoma, & multiple myeloma, the presence of advanced healthcare & medical infrastructure, growing introduction of advanced technologies, and rise in approvals by regulatory authorities. Additionally, Asia-Pacific is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness among the public regarding the importance of early cancer & disease detection, increased approval & commercialization of innovative tests, increase in government regulations, high prevalence of blood cancers, and surge in product launches.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Cancer Type, Product, Technology, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of Top 10+ Market Players
Global Hemato-Oncology Testing Market Segmentation, by:
Cancer Type
- Myeloproliferative Neoplasms
- Essential thrombocythemia (ET)
- Polycythemia vera (PV)
- Myelofibrosis (MF)
- Leukaemia
- Acute Lymphocytic Leukemia (ALL)
- Chronic Lymphocytic Leukaemia
- Acute Myeloid Leukemia (AML)
- Chronic Myeloid Leukaemia
- Lymphoma
- Hodgkin Lymphoma
- Non-Hodgkin Lymphoma
- Other Cancers
Product
- Services
- Assay Kits and Reagents
Technology
- PCR
- Real-time qPCR
- Digital PCR
- NGS
- IHC
- Cytogenetics
- Others
End-user
- Hospitals
- Academic & Research Institutes
- Others
Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Companies Featured
- EntroGen Inc.
- Cepheid
- Bio-Rad Laboratories Inc.
- ArcherDX Inc.
- Qiagen N.V.
- Amoy Diagnostics Co. Ltd.
- ASURAGEN Inc.
- Illumina Inc.
- F. Hoffmann-La Roche Ltd.
- Abbott
- Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ckeevp
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