The global hemato oncology testing market size was USD 2.9 Bn in 2022 and is likely to reach USD 8.6 Bn by 2031, expanding at a CAGR of 14.8% during 2023–2031. The market growth is attributed to the increasing prevalence of lymphoma and myeloma.
Hemato oncology testing involves a wide range of medical tests that focus to identify or detect the presence of blood diseases and cancer and to offer treatment for the same. Some of the most popular types of cancers that hematologists and oncologists are dealing with include leukemia, lymphomas, and myeloproliferative neoplasms, which are identified to be major reasons for tumor formation.
One of the key aspects of the rapid expansion of the oncology testing market is the growing investment from public-private enterprises for the development of several human genome projects, especially in developed regions. Moreover, several studies are being extensively conducted for gene sequencing processes, diagnostic procedures, and blood cancer to find drug development and develop an advanced treatment for cancer patients.
In 2017, the European Commission approved the first companion diagnostic device for the diagnosis of Acute Myeloid Leukemia (AML). Furthermore, a trial study was undertaken by a blood cancer research charity team, Blood wise, in 2018 presented certain findings that could help develop the right medications for the treatment of AML in the immediate future.
The market report finds that the COVID-19 pandemic has negatively impacted the growth of the market, due to the lockdown imposed by governments all over the world. During the pandemic, the number of hemato cancer testing procedures has continuously declined in hospitals and clinics across the world.
Hemato Oncology Testing Market Dynamics
Drivers:
Growing prevalence of cancer and blood diseases, due to inactive lifestyles, excessive consumption of alcohol, and smoking habits are expected to drive the market growth. Rising demand for advanced gene sequencing activities and personalized medicine are driving the growth of the market. However, increasing adoption of innovative molecular techniques for the diagnosis and development of innovative diagnostic devices are projected to push market expansion.
Restraints:
The high cost of oncology testing and the Lack of skilled operators for handling testing especially in developing nations prove to be key challenges that can impede market growth. However, the unfavorable reimbursement scenario in various countries is expected to hinder the growth of the market.
Opportunities:
Massive research & development (R&D) activities from key players to improve the testing result and higher accuracy of the diagnosis are offering lucrative opportunities for the market expansion. However, emerging countries such as China, India, and Brazil offer significant opportunities to the market, due to the increasing geriatric population, improving healthcare infrastructure, and increasing adoption of hematologic cancers.
Scope of the Hemato Oncology Testing Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Hemato Oncology Testing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2020–2021
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Forecast Period
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2023–2031
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Segmentation
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Cancer Type (Leukaemia [Acute Myeloid Leukemia, Acute Lymphocytic Leukemia, Chronic Lymphocytic Leukemia, and Chronic Myeloid Leukemia], Lymphoma [Non-Hodgkin Lymphoma and Hodgkin Lymphoma], and Others), Technology (PCR [Real-time qPCR and Digital PCR], IHC, NGS, Cytogenetics, and Others), End-user (Hospitals, Academic & Research Institutes, and Others), and Product (Assay Kits & Reagents and Services)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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F. Hoffmann-La Roche Ltd; Abbott.; QIAGEN; Cepheid.; Bio-Rad Laboratories, Inc.; Illumina, Inc.; ICON plc; ASURAGEN, INC.; ARUP Laboratories.; Adaptive Biotechnologies.; Thermo Fisher Scientific Inc.; and Invivoscribe, Inc.
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Hemato Oncology Testing Market Segment Insights
Based on cancer type, the global hemato oncology testing market is divided into leukemia, lymphoma, and others. The leukemia segment is further divided into acute myeloid leukemia, acute lymphocytic leukemia, chronic lymphocytic leukemia, and chronic myeloid leukemia. The lymphoma segment includes non-hodgkin lymphoma (NHL) and hodgkin lymphoma.
The lymphoma segment is expected to hold a large revenue share during the forecast period, owing to the wide prevalence of the type of cancer worldwide. According to the National Institutes of Health (NIH), NHL is the seventh most prevalent cancer in the US, accounting for nearly 4.2 percent of all cancers.
Similarly, according to Cancer Research UK, the prevalence of NHL has been increasing, with 13,900 new cases diagnosed per year in the United Kingdom. NHL is the sixth most prevalent form of cancer in the country, accounting for 4% of all new cases. Since the early 1990s, the prevalence of NHL in the UK has risen to 39%. As a result, several private and public organizations are launching campaigns. The Leukemia Foundation, for example, offers a collection of services to help people become more knowledgeable about blood cancer.
On the basis of technology, the market is segmented into PCR, immunohistochemistry (IHC), next-generation sequencing (NGS), cytogenetics, and others. The polymerase chain reaction (PCR) segment is further divided into real-time qPCR and digital PCR. The PCR segment is projected to account for a key market share in the coming years, due to its ease of use, low cost, high accuracy and performance, and widespread availability of testing technology.
Abbott's Real Time IDH1 assay was launched in July 2018 by the Blood Center of Wisconsin's Diagnostic Laboratories. This is a PCR procedure that detects IDH1 genetic mutations in patients' bone marrow and blood samples with high sensitivity. As a result, an increase in the number of PCR-based experiments being launched is expected to propel the market forward during the forecast era.
Based on End-user, the global hemato oncology testing market is divided into hospitals, academic & research institutes, and others. The hospital’s segment is expected to expand at a significant growth rate during the projection period, due to the wide availability of myriad diagnostic testing, the availability of advanced laboratory settings, and the involvement of high experts and healthcare practitioners to perform diagnostic tests. Emerging countries such as India and China are likely to drive the market, due to the increasing investment in the development of healthcare infrastructure.
The academic & research institutes segment is anticipated to constitute a significant share of the market in the coming years, owing to the existence of academic groups that perform numerous studies and research to advance the field of hemato oncology. Benefits such as a better understanding of the diagnostic process and the availability of technologically innovative diagnostic devices are expected to propel the segment at a rapid pace.
On the basis of product, the market is segregated into assay kits & reagents, and services. The services segment is expected to dominate the market in the coming years, due to the increase in the burden of disease diagnosis, the quality & affordability of diagnostic testing, and advancement in diagnostic techniques & procedures. Growing awareness of advanced treatments such as personalized medicine is boosting segment growth in the market.
In terms of region, the global hemato oncology testing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to represent a major share of the market during the forecast period, due to the wide incidence of leukemia, lymphoma, and multiple myeloma. In addition, the regional market is being driven by supporting steps taken by major market players as well as numerous academic & research organizations.
The market in Asia Pacific is anticipated to register a high growth rate, owing to an increase in the prevalence of blood cancer and a growing number of research activities conducted by various academic research institutes. For instance, in August 2019, scientists from Monash University developed a novel blood test that could help in the detection of myeloma effectively.
Segments
The global hemato oncology testing market has been segmented on the basis of
Cancer Type
- Leukaemia
- Acute Myeloid Leukemia
- Acute Lymphocytic Leukemia
- Chronic Lymphocytic Leukemia
- Chronic Myeloid Leukemia
- Lymphoma
- Non-Hodgkin Lymphoma
- Hodgkin Lymphoma
- Others
Technology
- PCR
- Real-time qPCR
- Digital PCR
- IHC
- NGS
- Cytogenetics
- Others
End-user
- Hospitals
- Academic & Research Institutes
- Others
Product
- Assay Kits & Reagents
- Services
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- F. Hoffmann-La Roche Ltd
- Abbott
- QIAGEN
- Cepheid.
- Bio-Rad Laboratories, Inc.
- Illumina, Inc.
- ICON plc
- ASURAGEN, INC.
- ARUP Laboratories.
- Adaptive Biotechnologies.
- Thermo Fisher Scientific Inc.
- Invivoscribe, Inc.
Competitive Landscape
Key players competing in the global hemato oncology testing market are F. Hoffmann-La Roche Ltd; Abbott.; QIAGEN; Cepheid.; Bio-Rad Laboratories, Inc.; Illumina, Inc.; ICON plc; ASURAGEN, INC.; ARUP Laboratories.; Adaptive Biotechnologies.; Thermo Fisher Scientific Inc.; and Invivoscribe, Inc.
These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide.
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In August 2022, Thermo Fisher Scientific launched CE-IVD (IVDD) next-generation sequencing (NGS) test and analysis software to expand access to precision oncology biomarker testing. NGS is becoming the platform choice for tumor molecular profiling, due to its ability to simultaneously report on multiple biomarkers.
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