According to FutureWise analysis, the market for Hemato Oncology Testing in 2023 is US$ 3.46 billion, and is expected to reach US$ 9.02 billion by 2031 at a CAGR of 12.72%.
The term "hematologist oncologist" refers to a doctor who treats cancers of the blood. Among malignant disorders, hematologic malignancies rank among the top ten in both incidence and death rates. Cancer genetics provides hematologist oncologists with more than diagnostic tests since it gives them the ability to assess the prognosis of patients, select the best anticancer therapy, and monitor response. To diagnose non-malignant genetic disorders, peripheral blood lymphocyte cultures are generally used. To enhance mitotic division, phytohemagglutinin (PHA) is added to the cells' culture media to boost mitotic division and ensure abundant metaphases. In hematological malignancies, bone marrow or peripheral blood are used to detect cytogenetic abnormalities; however, metaphase yields may be low. CLL and multiple myeloma patients often can't be properly analyzed genetically because the malignant cells proliferate slowly and the bone marrow contains normal cells that may interfere with their growth. For such cases, TPA (12-O-tetradecanoylphorbol 13-acetate) stimulated cultures are used. Increasing awareness about the disease and early diagnosis is being undertaken by government and non-government organizations. As a result, awareness increases, which boosts the market for testing products.
A large number of samples are processed by hospitals and diagnostic centers for the diagnosis of various types of cancer. The high prevalence and incidence of cancer among the population will drive the rapid increase in sample processing in healthcare facilities. In order to improve cancer diagnostics and prevention, innovative technologies have been introduced, such as fluid biopsies, real-time cancer diagnostics, digital PCR, immunohistochemistry, molecular testing, and next-generation sequencing (NGS). In turn, this will fuel the market. The public-private partnership movement and the movement toward molecular pathology will likely give the market significant growth opportunities. The type of product and service, the global hemato oncology market is bifurcated into services segment and assay kits segment. Based on the type of cancer, the market is categorised as leukaemia, acute myeloid leukaemia, acute lymphocytic leukaemia, lymphoma, non-hodgkin lymphoma, hodgkin lymphoma and others. As leukaemia patients require continuous monitoring and considering the ever-increasing number of leukaemia cases worldwide, this segment is anticipated to dominate the market during the forecast period. Technology-wise, the market is bifurcated into PCR, NGS, IHC, Cytogenetics and others. PCR technology segment is anticipated to showcase a significant market growth in 2019 owing to the ease of use and availability of assay kits.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Hemato Oncology Testing Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Hemato Oncology Testing Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.
Global Hemato Testing Oncology Market Regional Insight.