- Report ID: BMRC 496 | Number of pages: 199 | Publish Date: Jan 2020
Status: Published | Category: Healthcare | Delivery Timeline:
Hemato Oncology Testing market report is segmented on the basis of type, application and regional & country level. Based upon type, global hemato oncology testing market is segmented into leukemia testing, acute myeloid testing, multiple myeloma testing and other. On the basis of application, global hemato oncology testing market is classified into clinical laboratories and hospitals.
Hemato Oncology Testing Market is valued at USD 2.50 Billion in 2018 and expected to reach USD 6.45 Billion by 2025 with CAGR of 14.47% over the forecast period.
Hemato oncology testing includes the analysis of blood disorders in the field of medical such as iron deficiency anemia, hemophilia, sickle cell disease, leukemias and lymphomas as well as cancers of other organs. The term hematology is often combined with oncology, where both hematologists and oncologists work together to treat these types of serious diseases for the better treatment of a cancer of the blood and bone marrow including leukemia and lymphoma. Technological advncements with precise use of information will make the entire hemato oncology testing relibale and effective.The part of hematological malignancies is hepful in the diagnosis and treatment of cancers of the bone marrow, blood and lymph nodes.
The regions covered in this global Hemato Oncology Testing market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of global hemato oncology testing market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for global Hemato Oncology Testing market are Hoffmann-La Roche, Abbott Laboratories, Thermo Fisher Scientific, QIAGEN N.V., Bio-Rad Laboratories, Illumina, Molecular MD, Invivoscribe, Asuragen, Adaptive Biotechnologies, ArcherDx, ARUP Laboratories and others.
Rising Incidences of Hematological Malignancies is Expected to Grow the Global Hemato Oncology Testing Market.
The demand for hemato oncology testing is anticipated to witness a high growth owing to the rising incidences of blood cancer cases and people are inclined towards an early detection of serious diseases through adopting analytical treatments such as hemato oncology testing. Global spending on cancer medicines was reached of about USD133 billion with therapeutic and supportive care use in 2017. Similarly, rapid technological advancements is responsible for the detail analysis of the blood diseases, this has enabled the development of more effective approaches directed against the complex molecular pathways. These are some key factors supplementing the growth of hemato oncology testing market. Hematological malignancies accounted for about 8 to 9% of all cancers and became the fifth most frequently diagnosed cancer around the world. In 2018, about 437,033 new cases of Leukemia were diagnosed and globally cancer burden is expected to have rise to 18.1 million new cases and 9.6 million deaths. However, complex regulatory requirements and shortage of expert staff to handle the overall testing process may obstruct the growth of this market.
North America is Expected to Dominate the Hemato Oncology Testing Market.
North America is expected to account for the largest share of the global hemato oncology testing market over the forecast period. Growing prevalence of oncologic cases in this region and continuous evolvement of technological advancements in diagnostics and testing has lifted the growth of hemato oncology testing market in recent years. There were around 327,520 and 95,874 people are living with leukemia & myeloma in the US respectively. In 2014, approximately 52,380 people were diagnosed with leukemia. There are an estimated 95,874 people either living with, or in remission from, myeloma in the US. Asia pacific region is rapidly growing from the last few years in hemato oncology testing market due to favorable government initiatives to increase the awareness regarding blood related disorders and therapies. These are some factors are influencing the growth of the market during the forecast period in this region.
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Hemato Oncology Testing Market by Key Vendors Demand, Development Strategy, Future Trends and Industry Growth Research Report 2020-2025