According to a recent Emergen Research study, the global Hematologic Malignancies Testing Market will be worth USD 5.45 billion by 2027. The rising prevalence of leukemia and multiple myeloma can be attributed to the rapid growth of the global market for Hematologic Malignancies Testing. Multiple myeloma accounts for 10% of all hematologic cancers. In 2020, it is estimated that approximately 12,830 people will die from multiple myeloma (7,190 men and 5,640 women). Furthermore, rising awareness among patients and healthcare professionals about the early detection of Hematologic Malignancies is expected to drive growth over the forecasted timeframe.
Cancer is the leading cause of death in the United States and around the world. Cancer screening is an important preventive measure that can reduce cancer incidence and mortality. While cancer prevention and screening are critical for individual and societal health, the cancer market is changing dramatically due to the COVID-19 epidemic. COVID-19-related disruptions have impacted nearly every aspect of cancer control and prevention infrastructure, including the cancellation of cancer diagnostic tests, the postponement of elective surgeries, the deconstruction of therapy regimens, and the unemployment of healthcare providers. Because of the disruption in cancer screening tests, patients, healthcare providers, and healthcare systems may all suffer.
The advancements have helped to improve the quality of life while also lowering treatment costs and time, driving the overall growth of the healthcare diagnostics market. Furthermore, rising awareness and adoption of precision diagnostic techniques in both developed and developing countries are driving the global hematologic malignancies testing market.
The advancements have helped to improve the quality of life while also lowering treatment costs and time, driving the overall growth of the healthcare diagnostics market. Furthermore, rising awareness and adoption of precision diagnostic techniques in both developed and developing countries are driving the global hematologic malignancies testing market.
Some Key Highlights from the Report
Sysmex Corporation received marketing clearance for BGI Genomics Coronavirus kit distribution in Japan in March 2020. This initiative will help the company’s standing in Japan.
With a CAGR of 14.8% over the forecast period, the Next-generation sequencing segment will hold the largest market. Next-generation sequencing is a rapidly evolving set of technologies that allows the detection of gene variations in Rna and DNA. In the case of hematologic malignancies, such differences are diagnostically significant.
In the forecast timeline, the region of North America accounts for the largest market. The presence of key players, as well as existing advanced healthcare facilities, are the forces driving growth.
ArcherDx, Inc., Bio-Rad Laboratories, Inc., Sysmex Corporation, Invitae Corporation, NeoGenomics Laboratories, Inc., Abbott Laboratories, Cancer Genetics Inc., Adaptive Biotechnologies Corporation, Asuragen, Inc., and Invivoscribe, Inc. are among the key participants.
Emergen Research has segmented the global Hematologic Malignancies Testing Market based on product, technology, disease, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Services
- Kits
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Polymerase Chain Reaction
- Immunohistochemistry
- Next-generation sequencing
- Fluorescence in situ hybridization
Disease Outlook (Revenue, USD Billion; 2017-2027)
- Multiple myeloma
- Myelodysplastic syndrome
- Leukemia
- Myeloproliferative neoplasms
- Lymphoma
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Research Institutions
- Hospitals
- Specialty Clinics
- Laboratories
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- the U.S.
- Canada
- Mexico
- Europe
- Germany
- the UK
- France
- BENELUX
- Rest of Europe
- the Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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