Major Growth Boosters :Growth in this market is driven by the rising global prevalence of hematologic cancer, growing awareness regarding personalized medicines, and increasing collaborations for developing new assays.
What This Report Will Provide?
The study involved four major activities in estimating the current size of the hemato oncology testing market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research.
Expected Revenue Growth :
[116 Pages Report] The hemato oncology testing market is projected to reach USD 4.0 billion by 2024 from USD 2.0 billion in 2019, at a CAGR of 14.8% during the forecast period.
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- In May 2018, Adaptive Biotechnologies (US) collaborated with Sanofi, SA. (US), to utilize Adaptive’s clonoSEQ Assay to measure MRD status in response to isatuximab
- In July 2018, Abbott Laboratories (US) received FDA approval for its Abbott RealTime IDH1 kit
- In May 2018, Invivoscribe, Inc. (US) partnered with the American University of Beirut Medical Center (AUBMC) (Lebanon) to create a new center of excellence facility in the Middle East
Key Questions Addressed in The Report:
- What are the growth opportunities in the hemato oncology testing across major regions in the future?
- Emerging countries have immense opportunities for the growth and adoption of hemato oncology testing. Will this scenario continue during the next five years?
- What are the new trends and advancements in the hemato oncology testing?
- What initiatives are being undertaken by market players?
- Which of the segments will drive the market growth in the future?
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Based on product & services, the hemato oncology testing is segmented into services and assay kits. In 2018, the services segment accounted for the largest share of the hemato oncology testing. This is mainly due to the increasing prevalence & incidence of leukemia, non-Hodgkin lymphoma, and myeloma cancers. Apart from this, rising awareness regarding advanced treatment therapies such as personalized medicine is also driving the growth of this segment.
Regional Growth Analysis:
Based on region, the hemato oncology testing is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). While North America dominated the market in 2018, Asia Pacific is expected to register the highest CAGR in the market during the forecast period. Growth in the APAC market is driven mainly by the large patient population, and increasing focus of major players on expanding in this region will drive market growth.