Blood Cancer Diagnostics Market: Technological Improvements Steering Growth during 2017-2022 | Key Players are Abbott Laboratories, Roche Holding A.G., Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, Luminex Corporation, etc.
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Blood cancer diagnostics can be defined as the wide range of screening & diagnosis tests associated with blood cancers such as lymphoma, leukemia and myeloma. Bone marrow examination, blood sample tests, complete blood count tests, flow cytometry, cupping therapy and genetic testing are prominent procedures in the diagnosis of blood cancer.
Increase in the prevalence of oncological diseases and technological advancements in diagnostics are positively impacting the global blood cancer diagnostics market. Focus on detecting cancer at an early stage through molecular and RNA/DNA testing can widely improve the diagnosis. As spending on healthcare witnesses a gradual increase in developing countries, the overall blood cancer diagnostics market is projected to grow at a steady rate during the forecast period 2017-2022. According to Fact.MR’s analysis, the global blood cancer diagnostics market is projected to grow at a steady CAGR during the forecast period.
Fact.MR’s report offers market analysis and forecast on the global blood cancer diagnostics market on the basis of test type. Liquid biopsy is another test type that remains widely used among end-users. Studies have shown that liquid biopsy can overcome challenges related to intra- and inter-tumor heterogeneity. The research was carried out at Harvard Medical School and Massachusetts General Hospital Cancer Center. Inclusion of liquid biopsy can help in identifying resistance alternations in patients with advanced cholangiocarcinoma. On account of growing preference for liquid biopsy, this segment is projected to increase at a CAGR of over 10% through 2022.
According to the report, the CBC test segment type of the global blood cancer market is valued at nearly US$ 77 million in 2017. By 2022, this is projected to grow at a healthy rate. The market in North America will remain lucrative for manufacturers throughout the forecast period. The CTC tests segment on the other hand, is anticipated to grow at a relatively higher CAGR than the CBC test segments.
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Owing to accuracy and convenience of blood testing protein test type, it is anticipated that more end-use sectors will continue to use this type of testing globally. Fact.MR estimates the global blood protein testing market to rake in significant revenues during the forecast period.
By end-users, hospital associated labs account for a significant percentage of the global blood cancer diagnostics market. Valued at over US$ 136 million in 2017, the hospital associated labs segment is projected to surpass US$ 180 million in revenues by 2022. Demand from hospital associated labs segment is projected to grow at a steady CAGR during the forecast period.
Demand for blood cancer diagnostics is also significant from the independent diagnostic laboratories segment. According to Fact.MR’s research, the independent diagnostics laboratories segment is projected to grow steadily through 2022. Cancer research institutes are also a key end-user, and demand from this segment is projected to grow at healthy CAGR through 2022.
The key companies profiled in Fact.MR’s research include Abbott Laboratories, Roche Holding A.G., Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, Luminex Corporation, Myriad Genetics Inc., NanoString Technologies Inc, NeoGenomics Laboratories, Inc., Siemens AG, Quest Diagnostics Incorporated, Qiagen N.V., Agilent Technologies, Biotheranostics, Inc, Almac Group Limited, and GeneNews Limited.
Overall, the global blood cancer diagnostics market is anticipated to witness steady growth through 2022. The market will continue to be influenced by regulatory policies and guidelines.
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