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Hemato Oncology Testing Market by Product & Services (Services, Assay Kits), Cancer (Leukemia (Acute Myeloid, Acute Lymphocytic), Lymphoma (Non-Hodgkin, Hodgkin), Technology (PCR, NGS), End User - Global Forecast to 2027

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  • 141 Pages
  • November 2022
  • Region: Global
  • Markets and Markets
  • ID: 4790910

Quick Summary:

Within the rapidly evolving healthcare sector, the global Hemato Oncology Testing market is witnessing high-paced growth, driven primarily by the increasing incidence of hematologic cancer and a holistic push for personalized medicine. As the concept of precision medicine advances, collaborations and conferences to explicate targeted therapies are also proliferating, which further boosts the demand for Hemato Oncology Testing solutions.

The market encompasses lucrative sectors like services and assay kits, where the former has shown exponential growth due to constant patient monitoring requirements and the surge of clinical trials on hematologic cancers. Moreover, the growing infiltration of diagnostic centers who demand these testing procedures has also propelled the market. With respect to cancer types, lymphoma dominates the engagement, given its increasing prevalence among the aging population worldwide. The widespread use and availability of PCR technology have further spurred the market dynamics.

Geographically, Asia-Pacific, with its substantial geriatric population and burgeoning demand for quality healthcare, leads the growth trajectory. Stakeholders' growing focus on cancer biomarkers in these areas also bolsters the market expansion. This Hemato Oncology Testing report will equip stakeholders with data-driven insights and a solid understanding of the market's dynamics to devise effective strategies in this increasingly competitive space.

Complex Regulatory Frameworks Delaying the Approval of New Molecular Diagnostic Tests

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 growth in this market is attributed to the growing incidence of hematologic cancer, increasing collaborations, and the increasing number of conferences on personalized medicine. 

The Services segment accounted for the highest growth rate in the Hemato oncology testing market, by product and services type, during the forecast period

On the basis of products & services type, the global hemato oncology testing market is segmented into services and assay kits. 

In 2021, The services segment accounted for the largest share of the global hemato oncology testing market in 2021. This can be attributed to the increase in the number of hematologic cancer significantly. Hence the the patient needs continuous monitoring and testing during the treatment, the increasing collaboration between the companies for conducting the clinical trails on the hematologic cancers requires the hemato oncology testing products and the raising number of the diagnostic centers for diagenetic testing procedures is expected to boost the demand for the the services segment in the hemato oncology testing product market .

Lymphoma segment accounted for the highest CAGR by cancer type, during the forecast period

By cancer type, the global leukemia, lymphoma, and other cancers market. In 2021, the lymphoma segment dominated the global market. This can be attributed to factor such as the increasing prevalence lymphoma and the rising geriatric population across the globe is supporting the increasing incidence of the lymphoma cases which is a major driving factor for this market.

The PCR segment accounted for the highest growth rate in the Hemato oncology testing market, by technology type, during the forecast period

Based on type, the Hemato oncology testing market technology is segmented into PCR, IHC, NGS, cytogenetics, and other technologies.

In 2021, the PCR segment dominated hemato oncology testing market. Factors supporting the growth of the segment is the wide use of this technology owing to its ease of use and easy availability of assay kits.

The Asia-Pacific market is expected to grow at the highest CAGR during the forecast period.

The Hemato oncology testing market is segmented into - North America, Europe, the Asia Pacific and ROW. The Hemato oncology testing market in several Asia-Pacific countries is expected to witness high growth during the forecast period. Market growth will be driven by the rising geriatric population, increasing demand for quality healthcare, and the growing focus on cancer biomarkers by various stakeholders in their respective healthcare systems.

A breakdown of the primary participants referred to for this report is provided below:

  • By Company Type: Tier 1-45%, Tier 2-35%, and Tier 3- 45%
  • By Designation: C-level-32%, Director-level-20%, and Others-48%
  • By Region: North America-35%, Europe-28%, Asia Pacific-25%, ROW - 12%

Lists of Companies Profiled in the Report:

  • Abbott Laboratories (US)
  • F. Hoffman-La Roche (Switzerland)
  • QIAGEN (Germany)
  • Thermo Fisher Scientific (US) 
  • Illumina (US)
  • Bio-Rad Laboratories (US)q
  • 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)

Research Coverage

This report studies the Hemato oncology testing market based on the type of product, cancer, technology and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall Hemato oncology testing market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities and challenges.

Frequently Asked Questions about the Global Hemato-Oncology Testing Market

What is the estimated value of the Global Hemato-Oncology Testing Market?

The Global Hemato-Oncology Testing Market was estimated to be valued at $2.9 Billion in 2022.

What is the growth rate of the Global Hemato-Oncology Testing Market?

The growth rate of the Global Hemato-Oncology Testing Market is 14.2%, with an estimated value of $5.6 Billion by 2027.

What is the forecasted size of the Global Hemato-Oncology Testing Market?

The Global Hemato-Oncology Testing Market is estimated to be worth $5.6 Billion by 2027.

Who are the key companies in the Global Hemato-Oncology Testing Market?

Key companies in the Global Hemato-Oncology Testing Market include Abbott Laboratories, Adaptive Biotechnologies., Amoy Diagnostics Co. Ltd, Archerdx, Inc., Arup Laboratories Inc., Asuragen, Inc. a Bio, Techne Brand, Bio, Rad Laboratories, Inc. and Bioivt.

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.2.1 Markets Covered
1.2.2 Years Considered for the Study
1.3 Currency
1.4 Limitations
1.5 Stakeholders

2 Research Methodology
2.1 Secondary Data
2.1.1 Key Data from Secondary Sources
2.2 Primary Data
2.2.1 Key Data from Primary Sources
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.3 Market Breakdown and Data Triangulation
2.5 Assumptions for the Study

3 Executive Summary4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Increasing Incidence of Hematologic Cancer Increasing Collaborations Between Companies for Developing New Diagnostics Growth in the Number of Private Diagnostic Centers Increasing Conferences on Personalized Medicine
5.2.2 Restraints Unfavorable Reimbursement Scenario Complex Regulatory Frameworks Delaying the Approval of New Molecular Diagnostic Tests High Capital Investments and Low Cost-Benefit Ratio for Biomarkers
5.2.3 Opportunities Emerging Markets Drug Diagnostics Co-Development
5.2.4 Challenges Intellectual Property Rights Protection Issues Shortage of Trained Professionals

6 Hemato Oncology Testing Market, by Product & Service
6.1 Introduction
6.2 Services
6.3 Assay Kits

7 Hemato Oncology Testing Market, by Cancer Type
7.1 Introduction
7.2 Leukemia
7.2.1 Acute Myeloid Leukemia
7.2.2 Acute Lymphocytic Leukemia
7.2.3 Other Leukemias
7.3 Lymphoma
7.3.1 Non-Hodgkin Lymphoma
7.3.2 Hodgkin Lymphoma
7.4 Other Cancers

8 Hemato Oncology Testing Market, by Technology
8.1 Introduction
8.2 Pcr
8.3 Ihc
8.4 Ngs
8.5 Cytogenetics
8.6 Other Technologies

9 Hemato Oncology Testing Market, by End-user
9.1 Introduction
9.2 Clinical Laboratories
9.3 Hospitals
9.4 Academic & Research Institutes
9.5 Other End-users

10 Hemato Oncology Testing Market, by Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.3 Europe
10.4 Asia-Pacific
10.5 Rest of the World

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Key Strategies
11.3.1 Product Launches & Approvals
11.3.2 Expansions
11.3.3 Partnerships and Collaborations
11.3.4 Acquisitions
11.4 Competitive Leadership Mapping
11.4.1 Stars
11.4.2 Emerging Leaders
11.4.3 Pervasive Players
11.4.4 Participants

12 Company Profiles
12.1 Key Players
12.1.1 Abbott Laboratories
12.1.2 F. Hoffman-La Roche Ltd.
12.1.3 Qiagen N.V.
12.1.4 Thermo Fisher Scientific, Inc.
12.1.5 Illumina, Inc.
12.1.6 Bio-Rad Laboratories, Inc.
12.1.7 Molecularmd (Subsidiary of Icon plc)
12.1.8 Archerdx, Inc.
12.1.9 Arup Laboratories Inc.
12.1.10 Asuragen, Inc. a Bio-Techne Brand
12.1.11 Invivoscribe, Inc.
12.1.12 Adaptive Biotechnologies.
12.1.13 Amoy Diagnostics Co. Ltd
12.1.14 Elitechgroup
12.1.15 Vela Diagonostics
12.1.16 Others Gentronix Bioivt Saga Diagnostics Olink Cancer Diagnostics

13 Appendix
13.1 Insights of Industry Experts
13.2 Discussion Guide
13.3 Knowledge Store: The Subscription Portal
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details

Executive Summary

Companies Mentioned

  • Abbott Laboratories
  • Adaptive Biotechnologies.
  • Amoy Diagnostics Co. Ltd
  • Archerdx, Inc.
  • Arup Laboratories Inc.
  • Asuragen, Inc. a Bio-Techne Brand
  • Bio-Rad Laboratories, Inc.
  • Bioivt
  • Cancer Diagnostics
  • Elitechgroup
  • F. Hoffman-La Roche Ltd.
  • Gentronix
  • Illumina, Inc.
  • Invivoscribe, Inc.
  • Molecularmd (Subsidiary of Icon plc)
  • Olink
  • Qiagen N.V.
  • Saga Diagnostics
  • Thermo Fisher Scientific, Inc.
  • Vela Diagonostics