Growth Outlook: Hemato Oncology Testing Market Is Booming Across the Globe by 2019 - 2027
Hematologic malignancies are amongst the top ten malignant disorders with respect to the incidence rate as well as cause of death in patients suffering from cancer. Collectively, they constitute approximately 9% of all cancer cases diagnosed in a year. Geneticists are providing Hemato oncologists with not only diagnostic tests but also key knowledge of cancer genetics which helps the specialist assess prognosis of their patient, select the most appropriate anticancer therapy, and monitor the response to treatment. Generally, peripheral blood lymphocyte culture is used for diagnosis of non-malignant genetic disorders.
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The cells are cultured in a favorable media using T lymphocyte mitogens like phytohemagglutinin (PHA) to enhance the mitotic division and abundant metaphases are obtained. However, malignant cells from bone marrow or peripheral blood are used for identification of cytogenetic abnormalities in hematological malignancies, wherein the yield of metaphases may be suboptimal. Cytogenetic analysis of chronic lymphocytic leukemia (CLL) and multiple myeloma (MM) patients is often difficult because of the low proliferating rate of the malignant cells and the presence of normal cells in bone marrow which may interfere with their growth rate. In such cases, TPA (12-O-tetradecanoylphorbol 13-acetate) stimulated cultures are used to improve the yield of metaphases.
Global Hemato Oncology Testing Market: Competitive Landscape
Hoffmann-La Roche Ltd
Hoffmann-La Roche Ltd is a prominent global biotech company that engages in the development, manufacture, marketing, and sale of biopharmaceutical products and services. The company operates through three major segments: Pharmaceuticals, Diagnostic Solutions, and Products for Researchers. F. Hoffmann-La Roche Ltd operates in more than 100 countries through a wide distribution network and its own sales team.
Abbott Laboratories is a global health care solutions provider engaged in discovery, development, production, and sale of diversified health care products.
The company provides a wide range of diagnostic and medical test instruments that are used across the globe by various end-users to diagnose and monitor coagulation systems, cancer, heart diseases, and metabolic disorders; and assess other health indicators.
Abbott Laboratories is a leader in making microfluidic devices and techniques such as point-of-care diagnostics, immunoassays for blood screening, and laboratory tools. The company provides services in about 150 countries and has around 94,000 employees.
Thermo Fisher Scientific, Inc.
Thermo Fisher Scientific is a global leader in development, manufacturing, and commercialization of life sciences products for health care, pharmaceutical & biotechnology, and life sciences industries. Thermo Fisher Scientific, Inc. operates through four segments: Specialty Diagnostics, Analytical Instruments, Life Sciences Solutions, and Laboratory Products and Services. The specialty diagnostics segment offers a wide range of instruments, kits, and reagents for customers in health care, academic institutes, and other service providers. The segment comprises clinical diagnostics, immunodiagnostics, microbiology, and other businesses. Thermo Fisher Scientific offers products and services to more than 400,000 customers across the globe.
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Global Hemato Oncology Testing Market: Dynamics
Rise in Prevalence of Lymphoma & Myeloma Cancers
Multiple myeloma is the third most common form of hematological malignancy after non-Hodgkin’s lymphoma and leukemia and is characterized by uncontrolled proliferation of a clone of plasma cells within the bone marrow. According to the Leukemia & Lymphoma Society (LLS), around 176,200 people in the U.S. are expected to be diagnosed with leukemia, lymphoma, or myeloma in 2019. New cases of leukemia, lymphoma, and myeloma are anticipated to account for 10% of the estimated 1,762,450 new cancer cases diagnosed in the U.S. in 2019. Prevalence is the approximate number of people alive on a certain date in a population who previously had a diagnosis of the disease. An estimated 1,399,180 people in the U.S. are either living with, or are in remission from, leukemia, lymphoma, or myeloma.
Growing Focus on Personalized Medicine
The concepts of Personalized Medicines-PM have been subtly appreciated in medicine since the 1960s with its first mention in a monograph title in 1998 and subsequent publication on the Medline interface in 1999. Advancement in genetic technologies, primarily; single nucleotide polymorphism (SNP) genotyping and microarray/biochips has been the pillar and drive toward PM.
Global Hemato Oncology Testing Market: Segmentation
Based on product & services, the global hemato oncology testing Market can be bifurcated into:
In terms of cancer, the global Hemato oncology testing market can be divided into:
Based on technology, the global Hemato oncology testing market can be categorized into:
PCR-Polymerase Chain Reaction
NGS- Next-generation sequencing
In terms of end-users, the global hemato oncology testing market can be classified into:
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LP INFORMATION offers a latest published report on Hemato Oncology Testing Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. According to this study, over the next five years the Hemato Oncology Testing market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$ xx million in 2019.