Hemato Oncology Testing Market Status, Outlook, Growth Prospects, Dynamics, Outlook 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033.

The Business Research Company offers in-depth market insights through Hemato Oncology Testing Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The hemato oncology testing market size has grown rapidly in recent years. It will grow from $3.16 billion in 2023 to $3.59 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to increasing cancer incidence, growing awareness and screening programs, rising healthcare expenditure, increasing adoption of personalized medicine, increasing incidence of blood disorders.

The hemato oncology testing market size is expected to see rapid growth in the next few years. It will grow to $5.98 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to personalized medicine trends, integration of artificial intelligence, rising geriatric population, advancements in genomic research, rising demand for early cancer detection. Major trends in the forecast period include technological advancements in genomic testing, liquid biopsy for non-invasive testing, collaborations and partnerships in the industry, regulatory landscape and standardization, technological advancements.

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Market Segmentation:
The hemato oncology testing market covered in this report is segmented -
1) By Product And Services: Assay Kits And Reagents, Services
2) By Cancer Type: Leukemia, Lymphoma, Multiple Myeloma, Other Cancers
3) By Technology: Polymerase Chain Reaction (PCR), Immunohistochemistry (IHC), Next-Generation Sequencing (NGS), Other Technologies
4) By End User: Hospitals, Academic And Research Institutes, Other End Users

Major Driver - The Rising Incidence Of Hematologic Cancers Driving Growth In The Hemato Oncology Testing Market
The increasing incidence of hematologic cancer is expected to drive the growth of the hemato oncology testing market going forward. Hematologic cancer refers to a group of cancers that originate in the blood and affect the blood, bone marrow, and lymphatic system and includes diseases such as leukemia, lymphoma, and myeloma. These diseases can be reduced with an early diagnosis which can be achieved using hemato oncology testing. For instance, in 2023, according to the American Cancer Society, a US-based voluntary health organization focusing on eliminating cancer, leukemia is estimated to affect 59,610 American and cause 23,710 deaths. Furthermore, new patients of non-Hodgkin lymphoma are expected to affect 80,550 people in the United States and cause 20,180 deaths. As a result, the increasing prevalence of hematologic cancers is propelling the hemato oncology market forward.

Competitive Landscape:
Major companies operating in the hemato oncology testing market report are F. Hoffmann-La Roche Ltd., Abbott Laboratories, Thermo Fisher Scientific Inc., Illumina Inc., Icon plc, Invivoscribe Inc., Qiagen N.V., Bio-Rad Laboratories Inc., Archerdx Inc., ARUP Laboratories Inc., Asuragen Inc., Adaptive Biotechnologies Corp., Cepheid Inc., EntroGen Inc., CORE Diagnostics Inc., Genoptix Inc., GenPath Diagnostics, NeoGenomics Laboratories Inc., Siemens AG, Sysmex Corporation, Laboratory Corporation of America Holdings, Agilent Technologies, Danaher Corporation, Grifols SA, Exact Sciences Corporation, Guardant Health Corp., Personal Genome Diagnostics Inc., Diaorin SpA, HTG Molecular Diagnostics Inc., Admera Health

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Top Trend - Revolutionizing Diagnosis Sysmex Inostics Unveils Cutting-Edge Liquid Biopsy Test
Product innovations are a key trend gaining popularity in the hemato oncology testing market. Major companies operating in the hemato oncology testing market are introducing innovative products such as the Sysmex CLIA-validated liquid biopsy test to sustain their position in the market. For instance, in October 2021, Sysmex Inostics, a US-based biotechnology company launched a novel liquid biopsy test for the diagnosis of Minimal Residual Disease (MRD) in Acute Myeloid Leukaemia (AML). The new product leverages targeted Next Generation Sequencing (NGS) technology. The uniqueness of the product is that it is ultra-sensitive and detects even the slightest presence of cancer cells following initial therapy.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hemato Oncology Testing Market Characteristics
3. Hemato Oncology Testing Market Trends And Strategies
4. Hemato Oncology Testing Market - Macro Economic Scenario
5. Hemato Oncology Testing Market Size And Growth
…..
27. Hemato Oncology Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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