The global hemato oncology testing market accounted for USD 3.47 billion in 2023 and is expected to reach at USD 12.76 billion by 2034 with a CAGR of 12.57% during the forecast period 2024-2034. Increase in the occurrence of myeloma & lymphoma, rise in funding for research & development (R&D) efforts, accessibility to advanced technology products, growing prevalence of cancer, surge in introduction of innovative molecular techniques, expanding availability of RT-PCR analysis for detecting cancers such as chronic myeloid leukemia (CML), acute myeloid leukemia (AML), & acute lymphocytic leukemia (ALL), increasing adoption of molecular diagnostic testing services, and rising approvals of new hemato-oncology testing products are some of the key factors boosting the market growth.
Rising approvals of new hemato-oncology testing products is predicted to boost the market growth during the forecast period. Haemato oncology testing is a medical procedure used to diagnose blood diseases and cancers, encompassing conditions such as haemophilia, thalassemia, sickle cell disease, iron deficiency anaemia, leukaemia, and various organ cancers. Additionally, it aids in disease treatment and prevention, while also facilitating research in these areas. For instance, in July 2023, The FDA has granted approval for the LeukoStrat CDx FLT3 Mutation Assay to serve as a companion diagnostic tool for identifying patients with FLT3-ITD-positive acute myeloid leukemia who could potentially benefit from treatment with quizartinib (Vanflyta).
By cancer type, lymphoma was the highest revenue-grossing segment in the global hemato oncology testing market in 2023 owing to the increasing incidence of Hodgkin & non-Hodgkin lymphoma and heightened efforts from both private & public organizations to raise awareness among the general population. Additionally, leukaemia is predicted to grow at the fastest CAGR during the forecast period owing to the rising accessibility of technologically advanced products for diagnosing acute myeloid leukemia (AML), increasing incorporation of machine learning, and surge in the introduction of new products. For instance, in December 2022, Alercell has declared its readiness to introduce LENA Q51 in January 2023, a leukemia diagnostic test utilizing DNA sequencing to identify mutations in up to 51 genes in leukemia patients.
By product, services was the highest revenue-grossing segment in the global hemato oncology testing market in 2023 owing to the rising incidence of myeloma, non-Hodgkin lymphoma (NHL), & leukemia, increased awareness of various treatment options, including personalized medicine, and increase in collaborations between companies. For instance, in May 2022, Thermo Fisher and the Qatar Genome Program have formed a strategic alliance aimed at creating a customized genotyping array, known as Axion, tailored specifically for the pan-Arab population. This initiative will utilize whole sequencing data obtained from 19 diverse Arab countries. Additionally, assay kits and reagents is predicted to grow at the fastest CAGR during the forecast period owing to the progress in developing novel diagnostic tests for myeloma.
By technology, PCR was the highest revenue-grossing segment in the global hemato oncology testing market in 2023 owing to the its simplicity, effectiveness, precision, cost-effectiveness, & widespread availability. These tests are highly sensitive, identifying various biomarkers present in bone marrow and blood cells. Additionally, NGS is predicted to grow at the fastest CAGR during the forecast period owing to the technology provides several benefits including enhanced sensitivity & specificity, and rise in the introduction of new tests. Many cancer researchers recognize the significant value of this technology in hemato-oncology and have been working on developing bioinformatics algorithms for cancer screening and test creation. For instance, in August 2022, Thermo Fisher Scientific has launched CE-IVD (IVDD) next-generation sequencing test and analytical software to make precision oncology biomarker testing more accessible.
By end-user, hospitals was the highest revenue-grossing segment in the global hemato oncology testing market in 2023 owing to the increase in the occurrence of blood cancers, along with a variety of diagnostic tests available and healthcare professionals to administer and monitor these tests. Specialized laboratory facilities are accessible, contributing to the growing demand for blood cancer diagnosis, accompanied by a surge in regulatory approvals. Additionally, academic & research institutes is predicted to grow at the fastest CAGR during the forecast period owing to the rise in the quantity of research institutes & laboratories, increasing demand for standardization in techniques such as dPCR, and growing focus on research and development studies aimed at advancing the field of hemato-oncology. For instance, in August 2022, Mount Sinai Health System and the Icahn School of Medicine at Mount Sinai, in collaboration with the Regeneron Genetics Center (RGC), a branch of the prominent New York-based biotechnology firm Regeneron, have initiated a novel research endeavor known as the Mount Sinai Million Health Discoveries Program, focusing on human genome sequencing.
North America region is anticipated for the highest revenue share during the forecast period owing to the increase in the occurrence of leukemia, lymphoma, & multiple myeloma, the presence of advanced healthcare & medical infrastructure, growing introduction of advanced technologies, and rise in approvals by regulatory authorities. For instance, in June 2022, Burning Rock Biotech Limited has obtained CE marking for its OverC multi-cancer detection blood test, which utilizes next-generation sequencing (NGS) technology as a qualitative in vitro diagnostic device. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness among the public regarding the importance of early cancer & disease detection, increased approval & commercialization of innovative tests, increase in government regulations, high prevalence of blood cancers, and surge in product launches. For instance, in May 2022, Genes2Me has introduced clinical panels for oncology, personalized medicine, and hereditary diseases in India, utilizing next-generation sequencing (NGS) technology.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Rising approvals of new hemato-oncology testing products is predicted to boost the market growth during the forecast period. Haemato oncology testing is a medical procedure used to diagnose blood diseases and cancers, encompassing conditions such as haemophilia, thalassemia, sickle cell disease, iron deficiency anaemia, leukaemia, and various organ cancers. Additionally, it aids in disease treatment and prevention, while also facilitating research in these areas. For instance, in July 2023, The FDA has granted approval for the LeukoStrat CDx FLT3 Mutation Assay to serve as a companion diagnostic tool for identifying patients with FLT3-ITD-positive acute myeloid leukemia who could potentially benefit from treatment with quizartinib (Vanflyta).
By cancer type, lymphoma was the highest revenue-grossing segment in the global hemato oncology testing market in 2023 owing to the increasing incidence of Hodgkin & non-Hodgkin lymphoma and heightened efforts from both private & public organizations to raise awareness among the general population. Additionally, leukaemia is predicted to grow at the fastest CAGR during the forecast period owing to the rising accessibility of technologically advanced products for diagnosing acute myeloid leukemia (AML), increasing incorporation of machine learning, and surge in the introduction of new products. For instance, in December 2022, Alercell has declared its readiness to introduce LENA Q51 in January 2023, a leukemia diagnostic test utilizing DNA sequencing to identify mutations in up to 51 genes in leukemia patients.
By product, services was the highest revenue-grossing segment in the global hemato oncology testing market in 2023 owing to the rising incidence of myeloma, non-Hodgkin lymphoma (NHL), & leukemia, increased awareness of various treatment options, including personalized medicine, and increase in collaborations between companies. For instance, in May 2022, Thermo Fisher and the Qatar Genome Program have formed a strategic alliance aimed at creating a customized genotyping array, known as Axion, tailored specifically for the pan-Arab population. This initiative will utilize whole sequencing data obtained from 19 diverse Arab countries. Additionally, assay kits and reagents is predicted to grow at the fastest CAGR during the forecast period owing to the progress in developing novel diagnostic tests for myeloma.
By technology, PCR was the highest revenue-grossing segment in the global hemato oncology testing market in 2023 owing to the its simplicity, effectiveness, precision, cost-effectiveness, & widespread availability. These tests are highly sensitive, identifying various biomarkers present in bone marrow and blood cells. Additionally, NGS is predicted to grow at the fastest CAGR during the forecast period owing to the technology provides several benefits including enhanced sensitivity & specificity, and rise in the introduction of new tests. Many cancer researchers recognize the significant value of this technology in hemato-oncology and have been working on developing bioinformatics algorithms for cancer screening and test creation. For instance, in August 2022, Thermo Fisher Scientific has launched CE-IVD (IVDD) next-generation sequencing test and analytical software to make precision oncology biomarker testing more accessible.
By end-user, hospitals was the highest revenue-grossing segment in the global hemato oncology testing market in 2023 owing to the increase in the occurrence of blood cancers, along with a variety of diagnostic tests available and healthcare professionals to administer and monitor these tests. Specialized laboratory facilities are accessible, contributing to the growing demand for blood cancer diagnosis, accompanied by a surge in regulatory approvals. Additionally, academic & research institutes is predicted to grow at the fastest CAGR during the forecast period owing to the rise in the quantity of research institutes & laboratories, increasing demand for standardization in techniques such as dPCR, and growing focus on research and development studies aimed at advancing the field of hemato-oncology. For instance, in August 2022, Mount Sinai Health System and the Icahn School of Medicine at Mount Sinai, in collaboration with the Regeneron Genetics Center (RGC), a branch of the prominent New York-based biotechnology firm Regeneron, have initiated a novel research endeavor known as the Mount Sinai Million Health Discoveries Program, focusing on human genome sequencing.
North America region is anticipated for the highest revenue share during the forecast period owing to the increase in the occurrence of leukemia, lymphoma, & multiple myeloma, the presence of advanced healthcare & medical infrastructure, growing introduction of advanced technologies, and rise in approvals by regulatory authorities. For instance, in June 2022, Burning Rock Biotech Limited has obtained CE marking for its OverC multi-cancer detection blood test, which utilizes next-generation sequencing (NGS) technology as a qualitative in vitro diagnostic device. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising awareness among the public regarding the importance of early cancer & disease detection, increased approval & commercialization of innovative tests, increase in government regulations, high prevalence of blood cancers, and surge in product launches. For instance, in May 2022, Genes2Me has introduced clinical panels for oncology, personalized medicine, and hereditary diseases in India, utilizing next-generation sequencing (NGS) technology.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Cancer Type, Product, Technology, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Hemato Oncology Testing Market Report 2023 - 2034
Hemato Oncology Testing Market Analysis & Forecast by Cancer Type 2023 - 2034 (Revenue USD Bn)
- Myeloproliferative Neoplasms
- Essential thrombocythemia (ET)
- Polycythemia vera (PV)
- Myelofibrosis (MF)
- Leukaemia
- Acute Lymphocytic Leukemia (ALL)
- Chronic Lymphocytic Leukaemia
- Acute Myeloid Leukemia (AML)
- Chronic Myeloid Leukaemia
- Lymphoma
- Hodgkin Lymphoma
- Non-Hodgkin Lymphoma
- Other Cancers
Hemato Oncology Testing Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Services
- Assay Kits and Reagents
Hemato Oncology Testing Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- PCR
- Real-time qPCR
- Digital PCR
- NGS
- IHC
- Cytogenetics
- Others
Hemato Oncology Testing Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Academic & Research Institutes
- Others
Hemato Oncology Testing Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Hemato Oncology Testing Market: Cancer Type Estimates & Trend Analysis
8. Hemato Oncology Testing Market: Product Estimates & Trend Analysis
9. Hemato Oncology Testing Market: Technology Estimates & Trend Analysis
10. Hemato Oncology Testing Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Hemato Oncology Testing Market
13. Europe Global Hemato Oncology Testing Market
14. Asia Pacific Global Hemato Oncology Testing Market
15. Latin America Global Hemato Oncology Testing Market
16. MEA Global Hemato Oncology Testing Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- EntroGen Inc.
- Cepheid
- Bio-Rad Laboratories Inc.
- ArcherDX Inc.
- Qiagen N.V.
- Amoy Diagnostics Co. Ltd.
- ASURAGEN Inc
- Illumina Inc.
- F. Hoffmann-La Roche Ltd
- Abbott
- Thermo Fisher Scientific Inc.
