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% according to a new report by MarketsandMarkets™. 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.
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The Services segment accounted for the largest share of the Hemato oncology testing devices market, by product type, in 2021
On the basis of products & services type, the global hemato oncology testing market is segmented into services and assay kits. The services segment accounted for the largest share of the global hemato oncology testing market in 2021. This can be attributed to the high and growing prevalence of leukemia and lymphoma.
The segment accounted for the largest share of the Hemato oncology testing devices market, by cancer type, in 2021
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 and incidence of lymphoma is a major driving factor for this market.
PCR segment is anticipated to hold major share of the global Hemato oncology testing market in 2021
By technology, the global hemato oncology testing market is broadly 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.
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North America to hold a significant share of the Hemato oncology testing market during the forecast period in 2021
The global hemato oncology testing market is segmented into North America, Europe, Asia Pacific, and ROW. North America dominated hemato oncology testing market. The largest share can be attributed to the significant advances have been made in cancer treatment driven by advances in personalized medicine, increasing co-development projects, and increasing collaborations for developing new assay tests.
The major players operating in the Hemato oncology testing market 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) and Cancer Diagnostics (US).
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Recent Developments:
- 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.
