The Worldwide Hemato Oncology Testing Industry is Projected to Reach $5.6 Billion by 2027 - ResearchAndMarkets.com
15 Dec 2022
DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
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%.
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 collaration between the companies for conducting the clinical trails on the hematologic cancers requires the hemato oncology testing products and the raising number of the diagonostic centers for diagonotic testing procudures is expected to boost the demand for the the services segment in the hemato oncology testing product market .
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 risisng geriatric population across sthe 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.
Market Dynamics
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
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
Opportunities
Emerging Markets
Drug Diagnostics Co-Development
Challenges
Intellectual Property Rights Protection Issues
Shortage of Trained Professionals
Companies Mentioned
Asuragen, Inc. a Bio-Techne Brand
Cancer DiagnosticsCancer Diagnostics
Molecularmd (Subsidiary of Icon plc)
Vela Diagonostics
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