PUBLISHER: The Business Research Company | PRODUCT CODE: 1619654
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619654
Hematologic malignancy detection involves identifying cancers that impact the blood, bone marrow, and lymphatic system, such as leukemia, lymphoma, and multiple myeloma. These types of cancers interfere with the normal production and function of blood cells.
Key methods for detecting hematologic malignancies include polymerase chain reaction (PCR), immunochemistry, next-generation sequencing, fluorescence in situ hybridization, and other techniques. PCR is a method used to amplify small DNA samples, which facilitates the analysis and detection of genetic mutations or abnormalities linked to hematologic cancers. This technique is applicable for conditions like multiple myeloma, myelodysplastic syndrome, leukemia, myeloproliferative neoplasms, and lymphoma, and is used in various settings, including hospitals, specialty clinics, and home care.
The hematologic malignancies detection market research report is one of a series of new reports from The Business Research Company that provides hematologic malignancies detection market statistics, including hematologic malignancies detection industry global market size, regional shares, competitors with a hematologic malignancies detection market share, detailed hematologic malignancies detection market segments, market trends and opportunities, and any further data you may need to thrive in the hematologic malignancies detection industry. This hematologic malignancies detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The hematologic malignancies detection market size has grown rapidly in recent years. It will grow from $2.33 billion in 2023 to $2.68 billion in 2024 at a compound annual growth rate (CAGR) of 15.1%. The historical growth can be attributed to several factors, including rising incidence rates of hematologic conditions, increased awareness of their significance, growing demand from patients, supportive regulatory frameworks, and the advancement of digital health technology.
The hematologic malignancies detection market size is expected to see rapid growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The anticipated growth during the forecast period can be attributed to several factors, including the expansion of healthcare infrastructure, government initiatives and funding, broader health insurance coverage, and advancements in data management systems. Key trends expected during this period include improved resolution of genetic and epigenetic data, advanced methods for profiling protein expressions, enhanced immunoassay techniques, the development of nanomaterials and nanosensors, and the growth of telemedicine platforms.
The rising incidence of blood cancer is anticipated to drive the growth of the hematologic malignancy detection market. Blood cancer, which includes cancers affecting the blood, bone marrow, or lymphatic system, disrupts normal blood cell production and function. Factors contributing to the increased prevalence of blood cancer include aging populations and advancements in diagnostic techniques that enable earlier and more precise detection. Effective detection of hematologic malignancies is crucial for treatment, as it allows for early and accurate diagnosis, facilitating personalized and effective treatment strategies. For example, in March 2024, the Leukemia & Lymphoma Society, a US-based professional organization, reported that approximately 437,337 people in the US are living with or in remission from leukemia, with around 59,610 new cases expected to be diagnosed in 2024. Consequently, the growing prevalence of blood cancer is fueling the expansion of the hematologic malignancy detection market.
Leading companies in the hematologic malignancy detection market are concentrating on developing advanced solutions, such as blood cancer diagnostic tests, to improve diagnostic accuracy and patient outcomes. These tests are essential for detecting and confirming the presence of hematologic malignancies like leukemia, lymphoma, and multiple myeloma. For instance, in November 2023, Roswell Park Comprehensive Cancer Center, a US-based research and treatment facility, introduced PanHeme, a cutting-edge blood cancer diagnostic test that leverages next-generation gene sequencing technology. PanHeme identifies genetic mutations in blood cancers within 72 hours, a significant improvement over traditional methods. This rapid turnaround allows for the development of personalized treatment plans and the use of targeted FDA-approved therapies based on specific mutations.
In February 2022, Becton, Dickinson and Company, a US-based medical technology firm, acquired Cytognos S.L. for an undisclosed amount. This acquisition allows Becton, Dickinson and Company to enhance its capabilities in blood cancer diagnostics and post-treatment monitoring by leveraging Cytognos' expertise in flow cytometry and minimal residual disease detection. Cytognos S.L., based in Spain, specializes in clinical diagnostics, particularly in immune monitoring and blood cancer diagnosis solutions.
Major companies operating in the hematologic malignancies detection market are AbbVie Inc., Sanofi-Aventis U.S LLC, Bristol-Myers Squibb Company, Thermo Fisher Scientific Inc., Abbott Laboratories Inc., Novartis AG, Becton Dickinson and Company, Laboratory Corporation of America Holdings, ICON plc, Agilent Technologies Inc., Illumina Inc., Beckman Coulter Inc., Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Kite Pharma Inc., ArcherDx Inc., Invitae Corporation, NeoGenomics Laboratories Inc., Tempus Labs Inc., Adaptive Biotechnologies Corporation, Freenome Inc., Invivoscribe Technologies Inc., Asuragen Inc., Celldex Therapeutics Inc.
North America was the largest region in the hematologic malignancies detection market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hematologic malignancies detection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hematologic malignancies detection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hematologic malignancy detection market consists of revenues earned by entities by providing services such as diagnostic testing, imaging studies, clinical evaluation, genetic counseling, and monitoring and follow-up. The market value includes the value of related goods sold by the service provider or included within the service offering. The hematologic malignancy detection market also includes sales of products including bone marrow aspiration and biopsy kits, flow cytometers, fluorescence in situ hybridization (FISH), and IHC staining kits. Values in this market are factory gate values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hematologic Malignancies Detection Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hematologic malignancies detection market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hematologic malignancies detection ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hematologic malignancies detection market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.