New York, June 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hematologic Malignancies Testing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" - https://www.reportlinker.com/p06467770/?utm_source=GNW
The global hematologic malignancies testing market is anticipated to observe impressive growth during the forecast period 2023-2027.The major factors, including growing occurrences of blood cancer and extensive development in technology, are fueling the growth of the market.
Hematologic malignancies are cancers that affect the blood, bone marrow, and lymph nodes.Leukemia, lymphoma, and myeloma are the common types of blood cancer.
Hematologic malignancies testing is a medical testing method that helps to diagnose blood cancer. The other factors supporting the market’s growth are a rise in R&D activities, increasing favorable government funding, rising emphasis on personalized medicine, increasing awareness among patients and healthcare professionals, rise in aging population base, growing adoption of inorganic growth strategies, an increasing number of product launches, and immense potential for emerging submarkets.
Increasing Occurrence of Blood-Related Disorders
The growing incidences of blood-related disorders, such as leukemia, lymphoma, and myeloma, are bolstering the growth of the market globally.According to the American Cancer Society, in the United States, around every 3 minutes, a person is diagnosed with leukemia, lymphoma, and myeloma.
Owing to the rise in the number of patients who have hematologic cancer, the surge in the need for early detection and treatment of blood cancers is augmenting the growth of the market.Blood cancers are the fifth most common malignancy across the world and the second primary reason for cancer death.
For instance, more than 300,000 people are diagnosed yearly with leukemia and 400,000 with lymphoma across the globe.
Technological Advancements and Rise in R&D Activities
The evolution of new technologies in the healthcare sector is surging the growth of the market.The increasing adoption of new innovative technologies, such as digital PCR, next-generation sequencing, cytogenetics, and others, is strengthening the growth of the market.
The developments are helping to minimize the cost and time of treatment and improve the quality of human life. Moreover, the rise in R&D activities is propelling the growth of the market.
Increasing Adoption of Inorganic Growth Strategies
Growing inorganic growth strategies such as mergers, acquisitions, collaborations, partnerships, and an increasing number of product launches by market players are bolstering the growth of the market. For instance, in 2021, Natera, Inc., and Personalis, Inc. partnered in personalized oncology by coupling Personalis’ NeXT tumor profiling and diagnostic products with Natera’s personalized ctDNA platform Signatera for treatment monitoring and molecular residual disease assessment. Similarly, in 2018, Abbott launched an h-series incorporating a hematology system and has brought numerous changes in the clinical laboratories since then.
Market Segmentation
The global hematologic malignancies testing market is segmented into component, technique, therapeutic indication, end user, and company.Based on components, 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.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.
Based on therapeutic indication, the market is divided into leukemia, lymphoma, multiple myeloma, myeloproliferative neoplasms, and others.Based on end-user, the market is divided into hospitals & clinics, diagnostic laboratories, academic & research institutions, and others.
In terms of country, the United States is expected to be a lucrative market in the forecast period due to rising incidences of blood cancers in the country.
Market Players
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, and Invivoscribe, Inc. are some of the leading companies operating in the market.
Report Scope:
In this report, global hematologic malignancies testing market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Hematologic Malignancies Testing Market, By Component:
o Kits
Gene Panels
Molecular Clonality Testing
Translocation Testing
Mutation Testing
Others
o Services
• Hematologic Malignancies Testing Market, By Component:
o Next-Generation Sequencing (NGS)
o Polymerase Chain Reaction (PCR)
o Fluorescence In-Situ Hybridization (FISH)
o Immunohistochemistry (IHC)
o Others
• Hematologic Malignancies Testing Market, By Therapeutic Indication:
o Leukemia
o Lymphoma
o Multiple Myeloma
o Myeloproliferative Neoplasms
o Others
• Hematologic Malignancies Testing Market, By End User:
o Hospitals & Clinics
o Diagnostic Laboratories
o Academic & Research Institutions
o Others
• Hematologic Malignancies Testing Market, By Region:
o North America
United States
Canada
Mexico
o Asia-Pacific
China
India
Japan
Australia
South Korea
o Europe & CIS
Germany
France
United Kingdom
Spain
Italy
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
Saudi Arabia
UAE
Egypt
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Hematologic Malignancies Testing Market
Available Customizations:
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06467770/?utm_source=GNW
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