The global market for hematological malignancies tests is expected to reach $5.45 billion by 2027, according to current analysis by Emergen Research. The rapid growth of the global hematological malignancies test market can be attributed to the increasing prevalence of leukemia and multiple myeloma. 10% of all blood cancers are due to multiple myeloma. It is estimated that approximately 12,830 deaths from multiple myeloma (7,190 in men and 5,640 in women) will occur in 2020.
Additionally, increased patient and healthcare professional awareness of the initial diagnosis of hematological malignancies is expected to drive growth over the forecasted period. Additionally, the increasing focus on personalized medicine is also expected to drive the growth of the global hematological malignancies testing market. This procedure can be used in a very particular way to identify and diagnose disorders, classifying them by hereditary variance rather than by symptoms. This encourages more precise and effective therapies, strengthening the prognosis of patients.
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However, complications related to the analytical reliability of genetic cancer testing are expected to hamper the market growth over the forecast period.
The global hematological malignancies testing market is highly consolidated owing to the presence of a large number of companies in this industry. The report examines in detail the current position of these companies in the market, their past performance, supply and demand graph, production and consumption patterns, sales network, distribution channels and opportunities. growth in the market. The report examines the strategic approach of leading market players to expand their product offerings and strengthen their market presence.
The main actors are ArcherDx, Inc., Bio-Rad Laboratories, Inc., Sysmex Corporation, Invitae Corporation, NeoGenomics Laboratories, Inc., Abbott Laboratories, Cancer Genetics Inc., Adaptive Biotechnologies Corporation, Asuragen, Inc. and Invivoscribe, Inc. among others.
Main highlights of the report
In March 2020, Sysmex Corporation received marketing authorization in Japan for the distribution of the BGI Genomics Coronavirus kit. This initiative will strengthen its position in Japan.
During the forecast period, the next-generation sequencing segment will hold the largest market with a CAGR of 14.8%. In next-generation sequencing, the ever-evolving cohort of technologies enabling the detection of genetic variations present in RNA and DNA. In the case of hematological malignancies, these differences are relevant for the diagnosis.
The leukemia segment is expected to hold the largest market throughout the forecast period. Demand for early diagnosis and increasing cases of leukemia are expected to drive the growth of this segment.
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This section of the report offers valuable insights into the geographical segmentation of the Hematological Malignancy Testing market, along with the estimation of current and future market valuations based on supply and demand dynamics and pricing structure of major segments regional. Moreover, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report categorizes the global Hematological Malignancies Screening Test market into various regions including:
North America (USA, Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, rest of APAC)
Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of MEA)
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Emergen Research has segmented the global hematological malignancies market based on product, technology, disease, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
Polymerase chain reaction
Next Generation Sequencing
Fluorescence in situ hybridization
Disease Outlook (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
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Key Features of the Hematological Malignancies Test Market Report:
on key drivers, restraints, opportunities, challenges, growth prospects, limitations and threats.
details about key companies, product portfolio along with specifications, production valuation and market shares
Assessment of key current and emerging market trends and growth prospects
It also offers research-based estimations for the forecast period of eight years, mainly to estimate the potential growth of the market
Brief overview of the industry with respect to research and development, technological advancements and development
In-depth assessment of upstream raw materials, downstream buyers, demands and current market scenario
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