Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The "Hematologic Malignancies Testing Market - A Global and Regional Analysis: Focus on Product, Platform, Disease, End User, and Region - Analysis and Forecast, 2024-2033" report has been added to ResearchAndMarkets.com's offering.
The global hematologic malignancies testing market was valued at $3.54 billion in 2023 and is expected to reach $13.50 billion by 2033, growing at a CAGR of 14.09% during the forecast period 2024-2033
The base year considered for the calculation of the market size is 2023. A historical year analysis has been done for the period FY2019-FY2022. The market size has been estimated for FY2023 and projected for the period FY2024-FY2033. Revenues of the companies have been referenced from their annual reports for FY2022 and FY2023.
The hematologic malignancies testing market focuses on diagnostic tools and technologies for detecting and monitoring blood cancers such as leukemia, lymphoma, and myeloma. With the growing incidence of these cancers and advancements in diagnostic methods, the market is rapidly expanding. Key technologies include next-generation sequencing (NGS), polymerase chain reaction (PCR), flow cytometry, and immunohistochemistry. These tools are crucial for accurate diagnosis, prognosis, and treatment planning.
The growth of the hematologic malignancies testing market is driven by several factors, such as the rising burden of hematological cancer, growing research publications, and clinical trials in hematologic malignancies testing, leading to increased demand for hematologic malignancies tests and products.
The North America region is positioned to hold a significant share of the global market for several compelling reasons. North America growth has been driven by high rates of hematologic malignancies in the U.S. and Canada. Europe and Asia-Pacific are expected to see substantial growth, with China showing strong performance and increased adoption in Japan and India. Strategic partnerships in Latin America and other regions are tackling infrastructure challenges, thereby creating opportunities for manufacturers and service providers worldwide.
Additionally, increased funding and community support for early detection and treatment create a demand for hematological malignancy testing kits and services, and continuous advancements in hematologic malignancy have led to the development of more effective and innovative tests and kits. Moreover, the expanding availability of these supplements through various distribution channels, including online platforms and retail stores, has further facilitated market expansion and accessibility to consumers worldwide.
Industrial Impact
The growth of the hematologic malignancies testing market has not only provided relief to individuals having cancer symptoms but has also had a notable industrial impact. Manufacturers and suppliers of these products have witnessed increased demand, leading to expanded production capacities and job creation within the industry.
Services Segment to Dominate the Hematologic Malignancies Testing Market (by Product)
The services segment is expected to dominate the hematologic malignancies testing market by product. This is primarily due to the complexity of tests and the advanced technology required in performing the hematologic malignancies testing. The service providers not only perform the tests but also handle data analysis.
Polymerase Chain Reaction (PCR) Segment to Dominate the Hematologic Malignancies Testing Market (by Platform)
The polymerase chain reaction (PCR) segment is anticipated to dominate the hematologic malignancies testing market by platform. This predominance results from its rapid turnaround times and high sensitivity and specificity, which are essential for detecting and quantifying specific genetic changes linked to various hematologic cancers.
Leukemia Segment to Dominate the Hematologic Malignancies Testing Market (by Diseases)
The leukemia segment is expected to dominate the hematologic malignancies testing market based on diseases. This predominance results from the high prevalence and incidence of leukemia, which elevates the demand for diagnostic testing. The complexity of leukemia, with its various subtypes requiring specific diagnostic methods, further intensifies the need for comprehensive testing.
Specialty Clinics and Hospitals Segment to Dominate the Hematologic Malignancies Testing Market (by End User)
The specialty clinics and hospitals segment of the hematologic malignancies testing market by end user is expected to lead the market.This leadership stems from their integrated patient care models that ensure timely and coordinated diagnosis and treatment, which are critical for hematologic malignancies. These facilities feature advanced infrastructure to support sophisticated diagnostic tools and employ specialized personnel essential for interpreting complex test results.
Recent Developments in the Hematologic Malignancies Testing Market
- In May 2024, Bruker Corporation acquired ELITech Group with an expectation of generating revenue of $100 million by ELITech Group from the remainder of 2024.
- In April 2024, QIAGEN N.V. announced the launch of the QIAseq Targeted RNA-seq Panel for T-cell receptors, emphasizing their critical role in the adaptive immune system's function of recognizing and eliminating abnormal cells, including cancer cells.
- In February 2024, Precipio, Inc. announced the signing of a distribution agreement with Cardinal Health for its HemeScreen molecular assay products. Under the agreement, Cardinal Health will market and distribute Precipio's HemeScreen portfolio of molecular assays to its customer base, primarily comprising acute healthcare systems (hospital networks), reference laboratories, and physician-owned laboratories.
- In January 2024, Illumina, Inc. announced it signed an agreement with Janssen Research & Development, LLC (Janssen). This collaboration marks the first step in developing Illumina's novel molecular residual disease (MRD) assay, a whole-genome sequencing (WGS) multi-cancer research solution that detects circulating tumor DNA (ctDNA) to enhance understanding of disease persistence or recurrence after clinical intervention.
Competitive Benchmarking and Company Profiles
- Key Strategies and Development
- Partnerships, Alliances, and Business Expansions
- Regulatory and Legal Activities
- New Offerings
- Mergers and Acquisitions
- Market Share
Company Profiles
- Abbott Laboratories
- Adaptive Biotechnologies
- ARUP Laboratories
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche Ltd.
- ICON plc
- Illumina, Inc.
- Invitae Corporation
- Invivoscribe Inc.
- Laboratory Corporation of America Holdings
- NeoGenomics Laboratories
- OHSU's Knight Diagnostic Laboratories
- QIAGEN N.V.
- Quest Diagnostics
- Sysmex Corporation
- Tempus Labs, Inc
- Bio-Techne
- DiaSorin S.p.A
- Foundation Medicine, Inc.
- Thermo Fisher Scientific, Inc.
- ELITech Group
- Vela Diagnostics
- Amoy Diagnostics Co., Ltd.
- Integrated DNA Technologies, Inc.
- Overview
- Top Products
- Top Competitors
- Top Customers
- Key Personnel
- Corporate Strategies
- Analyst View
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 258 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $4.12 Billion |
| Forecasted Market Value (USD) by 2033 | $13.5 Billion |
| Compound Annual Growth Rate | 14.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Global Hematologic Malignancies Testing Market: Market Overview
1.1 Introduction
1.2 Types of Hematologic Malignancies Diagnostic Tests
1.3 Market Footprint and Growth Potential
2 Global Hematologic Malignancies Testing Market: Industry Analysis
2.1 Key Trends: Current and Future Impact Assessment
2.1.1 Growing Utilization of Next-Generation Sequencing and Artificial Intelligence in Hematologic Malignancies Testing
2.1.2 Increasing Partnerships, Alliances, and Business Expansions among Key Players
2.2 Regulatory Framework
2.2.1 Regulatory Framework in the U.S.
2.2.2 Regulatory Framework in Europe
2.2.3 Regulatory Framework in Asia-Pacific
2.2.3.1 Japan
2.2.3.2 China
2.3 COVID-19's Impact on Cancer Diagnostic Market
2.4 Supply Chain Analysis
2.4.1 Key Entities in Supply Chain
2.5 Pricing Analysis
2.6 Comparative Analysis of Hematologic Malignancies Test by Different Parameters
3 Global Hematologic Malignancies Testing Market: Market Dynamics
3.1 Impact Analysis
3.2 Market Drivers
3.2.1 Rising Incidence of Hodgkin Lymphoma, Non-Hodgkin Lymphoma, Multiple Myeloma, and Leukemia Facilitating the Demand for Hematologic Malignancy Testing Kits and Services
3.2.2 Increased Funding and Community Support for Early Detection and Treatment to Create a Demand for Hematologic Malignancy Testing Kits and Services
3.2.3 Continuous Advancements in Hematologic Malignancy Testing
3.3 Market Restraints
3.3.1 Challenges in Integrating NGS into Clinical Practice for Hematologic Malignancies
3.3.2 Unfavorable Reimbursement Scenario
3.4 Market Opportunities
3.4.1 Strategic Partnerships to Enhance Diagnostic Capabilities in Emerging Markets
3.4.2 Leveraging AI for Enhanced Diagnostics in the Hematologic Malignancies Testing Market
4 Global Hematologic Malignancies Testing Market (by Product)
4.1 Product Summary
4.2 By Product
4.2.1 Kits
4.2.1.1 Gene Panels
4.2.1.2 Molecular Clonality Testing
4.2.1.3 Translocation Testing
4.2.1.4 Mutation Testing
4.2.1.5 Minimal Residual Testing
4.2.2 Services
5 Global Hematologic Malignancies Testing Market (by Platform)
5.1 Platform Summary
5.2 By Platform
5.2.1 Next-Generation Sequencing
5.2.1.1 Polymerase Chain Reaction (PCR)
5.2.2 Fluorescence In-Situ Hybridization
5.2.3 Immunohistochemistry
5.2.4 Flow Cytometry
5.2.5 Other Platforms
5.2.5.1 Cytogenetic Testing
5.2.5.2 Microarray
6 Global Hematologic Malignancies Testing Market (by Diseases)
6.1 Diseases Summary
6.2 By Diseases
6.2.1 Leukemia
6.2.2 Lymphoma
6.2.3 Multiple Myeloma
6.2.4 Myeloproliferative Neoplasms
6.2.5 Myelodysplastic Syndromes
7 Global Hematologic Malignancies Testing Market (by End User)
7.1 End User Summary
7.2 By End User
7.2.1 Specialty Clinics and Hospitals
7.2.2 Diagnostic Laboratories
7.2.3 Reference Laboratories
8 Global Hematologic Malignancies Testing Market (By Region)
For more information about this report visit https://www.researchandmarkets.com/r/tgbi8
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