Hemato Oncology Testing Market Worth $4.0 billion by 2024 – Technology (PCR, NGS, IHC)

Hemato-Oncology Testing Market

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. On the other hand, Uncertain reimbursement scenario in different regions is expected to restrain the growth of this market during the forecast period.

Hemato Oncology Testing Market by Product & Services (Assay Kits, Services), Cancer (Leukemia (Acute Lymphoblastic, Acute Myeloid), Non-Hodgkin’s Lymphoma), Technology (PCR, NGS, IHC), End-User (Clinical Laboratories, Hospitals) – Global Forecast to 2024

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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Availability of robust infrastructure and high-end equipment for conducting hemato oncology tests are the supporting factors for clinical laboratories segment

Based on end-user, the hemato-oncology testing market has been segmented into four types, i.e., clinical laboratories, hospitals, academic & research institutes, and other end-users. Other end-users include CROs and pharmaceutical & biotechnological companies. Clinical laboratories accounted for the largest share of the market in 2018.

This segment is expected to grow at the highest rate in the coming years. This is mainly due to the presence of advanced diagnostic equipment such as analyzers and the presence of skilled professionals to perform these tests.

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Availability of robust infrastructure and high-end equipment for conducting hemato oncology tests are the supporting factors for clinical laboratories segment

Based on end-user, the hemato-oncology testing market has been segmented into four types, i.e., clinical laboratories, hospitals, academic & research institutes, and other end-users. Other end-users include CROs and pharmaceutical & biotechnological companies. Clinical laboratories accounted for the largest share of the market in 2018.

This segment is expected to grow at the highest rate in the coming years. This is mainly due to the presence of advanced diagnostic equipment such as analyzers and the presence of skilled professionals to perform these tests.

What Drives the Market?

1. Increasing Incidence of Hematologic Cancer 2. Increasing Collaborations 3. Increasing Conferences on Personalized Medicine

Key Players and Strategies Adopted by Them:

Prominent players in the hemato oncology testing market include F. Hoffmann-La Roche Ltd. (Switzerland), Abbott Laboratories (US), Thermo Fisher Scientific, Inc. (US), QIAGEN N.V. (Germany), Bio-Rad Laboratories, Inc. (US), Illumina, Inc. (US), MolecularMD (Ireland), Invivoscribe, Inc. (US), Asuragen, Inc. (US), Adaptive Biotechnologies (US), ArcherDx, Inc. (US), and ARUP Laboratories Inc. (US).