Global Hemato Oncology Testing Market Size, Trends & Analysis with COVID-19 Impact - Forecasts To 2026 By Cancer Type (Leukemia, Lymphoma, Myeloproliferative Neoplasms, Other Cancers), By Product Type (Assay Kits and Reagents, Services), By Technology (PCR, IHC, NGS, Cytogenetics, Other Technologies), By End-Use (Hospitals, Academic & Research Institutes, Others), By Region (North America, Europe, Asia Pacific and Rest of the World); and Company Market Share Analysis & Competitor Analysis
Hemato Oncology Testing Market: Insights
During the forecast timeline from 2020 to 2026, the worldwide market for hemato oncology research will be powered by a strong compound annual growth rate. The vital analysis of blood diseases such as iron deficiency anemia, leukemia, lymphoma, sickle cell disease, and hemophilia includes hemato oncology research. The study of cancer-related care, diagnosis, and other issues fall under the category of oncology. The expanding mindfulness about customized meds, alongside the skyscraper in the quantity of patients with blood and tumor problems, are a portion of the main considerations expected to drive the development of the hemato oncology testing market. Furthermore, the growing cases of lymphoma and myeloma cancers, rising health concerns, and increasing technological advancements in oncology testing are some of the factors expected to propel the market growth. However, strict rules from the government and delaying the clearance of experimental molecular diagnostic tests diverse regulatory structures that are likely to adversely affect market growth during the forecast timeframe.
Hemato Oncology Testing Market: By Cancer Type
This market can be explained into four segments based on the cancer type analysis, namely; lymphoma, leukemia, and myeloproliferative neoplasms, other cancers. The leukemia segment accounts for a significant share of this industry segment. The segment is further segregated into chronic lymphocytic leukemia, acute lymphocytic leukemia, chronic myeloid leukemia, and acute myeloid leukemia. Leading to a lack of early diagnosis of leukemia with limited options available for therapy, acute myeloid leukemia dominates the world economy. Moreover, the increasing understanding of testing the status of reduced residual disease in patients with acute myeloid leukemia is another primary factor driving positive growth in the industry.
Hemato Oncology Testing Market: By Technology
The industry is fragmented into technology-based divisions namely; NGS, PCR, IHC, cytogenetics, and other technologies. Amongst all the technologies, PCR technology contributes the most to the global revenue in the market. This is due to the large use of this technology because of its ease of use and fast supply of assay kits are some of the factors expected to anticipate the market growth for the PCR technology segment. Furthermore, NGS technology has accounted to grow at a strong growth rate over the estimated timeline. This is due to its benefits such as sensitivity and accuracy, which are the key reasons to boost the industry growth over the predicted timeline.
Hemato Oncology Testing Market: By Product Type
Based on the study of product type, this market can be explained into two segments namely, assay kits and reagents, and services. The growth of the service division would be quicker than the latter. This is due to the increased prevalence and occurrence of cancers of non-Hodgkin lymphoma, leukemia, and myeloma are some of the factors expected to boost the market growth. Furthermore, the growth of this sector is also motivated by the awareness of innovative care therapies including customized medicine.
Hemato Oncology Testing Market: By Region
Based on the geographical region, the market for hemato oncology testing is split into Europe, Asia Pacific, North America, CSA, and Middle East & Africa. The North America region is the main sales contributor in the sector over the forecast timeframe. Some of the factors positively affecting the growth are rising healthcare costs and the growing usage of cytogenetics in advance treatments. Besides, the Asia-Pacific locale is anticipated to be the quickest developing area at a solid CAGR pace because of the expanded general expert presence, an immense populace of patients, and clinical labs. Besides, the developing predominance of persistent ailments in nations, for example, India and China are extended to fuel request development in the APAC district, alongside expanding interest in the medical care foundation.
Hemato Oncology Testing Market: Share & Competitor Analysis
Major players in the hemato oncology testing market include are EntroGen, Inc., F. Hoffman-La Roche Ltd., Cepheid, Bio-Rad Laboratories, Inc., Invivoscribe, Inc., Adaptive Biotechnologies, Cepheid, Amoy Diagnostics Co., Ltd., Abbott Laboratories, Qiagen N.V., Thermo Fisher Scientific, Inc., Illumina, Inc., Adaptive Biotechnologies, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In July 2018, Abbott Laboratories has received FDA approval for its RealTime IDH1 kit.
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The Global Hemato Oncology Testing Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Hemato Oncology Testing Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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