The global hemato oncology testing market in 2019 was valued at USD 2.0 billion and is anticipated to surpass USD 4.5 billion by 2025, at a CAGR of 15.1 % during the forecast period.
The global Hemato oncology testing market was estimated at 2 (USD Billion) in 2019 and is projected to be valued at 4.5 (USD Billion) by 2025 at a CAGR of 15.1%. The report offers valuation and analysis of Hemato oncology testing market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).
Hemato oncology testing encompasses the critical examination of blood disorders such as iron deficiency anemia, leukemia, lymphoma, sickle cell disorder, and hemophilia. Moreover, the terminology “hematology” is integrated with “oncology” in which both the oncologists as well as hematologists work collectively for treating blood cancer as well as lymphoma & leukemia.
Key Growth Drivers
The increase in the incidences of hematologic cancer, rise in the awareness about personalized medicine, and surge in the number of assays is anticipated to result in the massive growth of the Hemato oncology testing market over the forecast period.
Furthermore, geneticists provide Hemato oncologists with information pertaining to cancer genetics as well as diagnostic tests. This helps the latter in accurately diagnosing the patient's condition and selecting the apt anticancer therapy. All these aforementioned factors are anticipated to steer the market trends over the years ahead.
Based on cancer, the market is segregated into Leukemia and Non-Hodgkin’s Lymphoma. On the basis of Cancer & services, the Hemato oncology testing industry is divided into assay kits and services. In terms of technology, the market is segmented into PCR, IHC, and NGS. Among these segments, NGS is likely to growth at the highest rate due to its beneficial features.
Region-wise, the Hemato oncology testing industry is sectored into Europe, Asia Pacific, North America, the Middle East and Africa, and Latin America. Furthermore, the Asia Pacific market is set to record the highest CAGR over the forecast timeline owing to the presence of a huge patient population base and focus of key participants on the expansion of their business portfolio in the Asia Pacific zone.
Key players involved in the Hemato oncology testing business and profiled in the report include Asuragen, Inc., Abbott Laboratories, MolecularMD, ARUP Laboratories Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., Adaptive Biotechnologies, Thermo Fisher Scientific, Inc., Illumina, Inc., Invivoscribe, Inc., Bio-Rad Laboratories, Inc., and ArcherDx, Inc.
The global Hemato oncology testing market is segmented as follows:
By Products & Service
By End User