Global Hemato Oncology Testing Market is Estimated to Value Over USD 4.6 Billion by 2029 End

  • 10 Jul 2019

Global Hemato Oncology Testing Market is estimated to value over USD 4.6 billion by 2029 end and register a CAGR of over 13.8% during the forecast period 2019 to 2029. 

The number of patients suffering from blood and tumour diseases is soaring high and that has been the primary reason for the Hemato oncology market to grow significantly. 

An increasing prevalence of haematological cancer, establishing collaborations for developing new assays and growing awareness with respect to personalized medicines. Furthermore, the rise in the geriatric population in recent times is another integral factor that drives the global hemato oncology market. 

However, uncertain reimbursement in different regions is expected to impede market growth.

Insights on Global Hemato Oncology Testing Market:
1.    By Region

•    North America
•    Europe
•    Asia Pacific
•    Rest of the World
North America dominated the global market in 2018. However, the Asia Pacific region is anticipated to witness a soaring market growth during the forecast period owing to the ever-increasing patient population and key market players focussing on expanding their businesses in the region are some important driving factors for the market growth.

2.    By Product & Service Type
•    Services
•    Assay Kits
The services segment dominated the market in 2018 owing to a soaring prevalence of leukemia, myeloma cancers and non-Hodgkin lymphoma.

3.    By Cancer Type
•    Leukemia
•    Acute Myeloid Leukemia
•    Acute Lymphocytic Leukemia
•    Lymphoma
•    Non-Hodgkin Lymphoma
•    Hodgkin Lymphoma
•    Others
Acute myeloid leukemia dominates the global market owing to a lack of early diagnosis of leukemia with limited options available for treatment. Furthermore, growing awareness regarding checking the status of minimal residual disease in patients suffering from acute myeloid leukemia is another integral factor that supports positive market growth.

4.    By Technology
•    PCR
•    NGS
•    IHC
•    Cytogenetics
•    Others
NGS is expected to witness a substantial growth during the forecast period due to its advantages like sensitivity and specificity.

Competitive Landscape:
•    Tier 1 players- established companies in the market with a major market share  
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

Thermo Fischer Scientific Inc. provides profiling solutions for haematological malignancy using CytoScan HD Suite which is an extensive cytogenetic analysis of myeloid and lymphoid cancer samples. This test comprehensively covers the deletions, amplifications and loss of heterozygosity (LOH), ploidy changes and chromothripsis. The entire process from collecting nucleic acid samples to obtaining final results takes three days which is an added advantage considering how difficult it is to analyse and test these samples. 

Key Market Players:
•    F. Hoffmann-La Roche Ltd.
•    Abbott Laboratories
•    Thermo Fisher Scientific Inc.
•    Illumine Inc.
•    Molecular MD
•    Invivoscribe Inc.

FutureWise Key Takeaways:
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study:
•    To provide with an exhaustive analysis on the hemato oncology testing market by region, by product & service type, by cancer type, by technology
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and rest of the world
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions


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