Hemato Oncology Testing Market Size Worth US$ 5.6 Billion by 2027 | Growth Rate (CAGR) 14.2%

 

Hemato Oncology Testing has become an essential part of the healthcare industry in recent years. This form of testing is used to detect cancers in the blood and bone marrow, as well as to monitor the progress of treatment for patients with cancer. The global Hemato oncology testing market is projected to reach USD 5.6 billion by 2027 from an estimated USD 2.9 billion in 2022, at a CAGR of 14.2%

The Hemato Oncology Testing market is driven by factors such as the growing prevalence of cancer, technological advancements in diagnostic testing, rising healthcare expenditure, and increasing awareness about early diagnosis of cancer. Furthermore, the introduction of personalized medicine, increasing use of companion diagnostics, and the development of novel therapies have also contributed to the growth of the Hemato Oncology Testing market.

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The global Hemato Oncology Testing market is segmented by test type, end user, and region. By test type, the Hemato Oncology Testing market is divided into diagnostic testing, prognostic testing, and monitoring testing. Diagnostic testing is further divided into flow cytometry, polymerase chain reaction (PCR), cytogenetics, and immunohistochemistry. The end user segment is divided into hospitals, diagnostic laboratories, and research institutes.

Regionally, the Hemato Oncology Testing market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the global Hemato Oncology Testing market due to the presence of a large number of diagnostic laboratories and well-developed healthcare infrastructure in the region. Europe is also expected to witness significant growth due to the increasing investment in research and development activities. The Asia Pacific is also expected to witness significant growth in the near future due to the increasing awareness about early diagnosis of cancer and the presence of a large patient population in the region.

Key Market Players

The market is competitive. The major players operating in hemato oncology testing market are Abbott Laboratories (US), F. Hoffman-La Roche (Switzerland), QIAGEN (Germany), Thermo Fisher Scientific (US), Illumina (US), Bio-Rad Laboratories (US), MolecularMD (Ireland), ArcherDX (US), ARUP Laboratories (US), Asuragen (US), Invivoscribe (US), Adaptive Biotechnologies (US), Amoy Diagnostics (China), ELITechGroup (France), Vela Diagnostics (Singapore), Gentronix (UK), BioIVT (US), SAGA Diagnostics (Sweden), Olink (Sweden), Cancer Diagnostics (US).

Abbott Laboratories is the leading player in the hemato-oncology testing market in 2021. In Abbott’s worldwide Diagnostics business, sales increased by 42.7%. It offers kits for chronic lymphocytic leukemia (CLL) and acute myeloid leukemia (AML). The company has been able to introduce innovative products, such as Abbott RealTime IDH1 and Abbott RealTime IDH2 assay kits, into the market. Abbott has a strong presence in the US, where it registered USD 7,129 million the Diagnostics business. These players are focusing on strategic initiatives such as collaborations, acquisitions, and product launches to strengthen their positions in the market.

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This research report categorizes the hemato oncology testing market based on Product and Services type, Cancer type, technology, and region.

By Product & Service

  • Services
  • Assay Kits

By Cancer Type

  • Introduction
  • Leukemia
  • lymphoma
  • Other cancers

By Technology

  • Introduction
  • PCR
  • IHC
  • NGS
  • Cytogenetics
  • Others Technologies

by End User

  • Introduction
  • Clinical laboratories
  • Hospitals
  • Academic & Research Institutes
  • Other End Users

By Region

  • Introduction
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Recent Developments:

  • In 2022, F. Hoffmann-La Roche Ltd. (Switzerland) received FDA approval for the cobras EZH2 mutation test as a companion diagnostic for patients with follicular lymphoma
  • F. Hoffmann-La Roche Ltd. (Switzerland) and Illumina Inc. (US) entered into a 15-year non-exclusive partnership with Illumina to broaden the adoption of NGS-based testing in oncology.
  • QIAGEN N.V. (Germany) and Denovo Biopharma LLC (US) collaborated to develop a blood-based companion diagnostic (CDx) test for treatment of diffuse large B-cell lymphoma (DLBCL), one of the most common lymphoid cancers.
  • Illumina, Inc. (US) acquired GRAIL (US) QIAGEN collaborated with DeNovo to develop a blood-based companion diagnostic (CDx) test for treatment of diffuse large B-cell lymphoma (DLBCL), one of the most common lymphoid cancers.
  • Thermo Fisher Scientific Inc. (US) and First Genetics JCS (Russia) came into a strategic partnership with First Genetics to focus on commercializing NGS-based diagnostics in Russia.

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