Global Hemato Oncology Testing Market is expected to grow at a CAGR of 14.8% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Hemato Oncology Testing Market by Cancer Type (Hodgkin Lymphoma, Non-Hodgkin Lymphoma, Lymphoma, Acute Lymphocytic Leukemia, Acute Myeloid Leukemia, Leukemia), Product & Service Type (Assay Kits, Services), Technology (Cytogenetics, IHC, NGS, PCR), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global hemato oncology testing market is expected to grow from USD 2.01 billion in 2019 to USD 6.03 billion by 2027, at a CAGR of 14.8% during the forecast period 2020-2027. North-America has the largest share of hemato oncology testing market. Asia Pacific region is also expected to grow at a higher rate.
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Key players in the global hemato oncology testing market are Abbott Laboratories, QIAGEN N.V., Illumina Inc., Invivoscribe Inc., Adaptive Biotechnologies, ARUP Laboratories Inc., F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Asuragen, Inc., ArcherDx, Inc. And MolecularMD. Abbott Laboratories is investing a vast amount of money in research and development and has introduced products such as Abbott RealTime IDH2 assay kits and Abbott RealTime IDH1 assay kits. Roche is spreading its channels across the globe in order to diversify across the world. It is also investing a tremendous amount of money in research and development to increase its revenue and presence.
The cancer type segment includes Hodgkin lymphoma, non-Hodgkin lymphoma, lymphoma, acute lymphocytic leukemia, acute myeloid leukemia and leukemia. Myeloid leukemia has the largest share of cancer type segment. Rise in the awareness to check residuals of myeloid leukemia is driving the hemato oncology testing market. The product & service type segment includes assay kits and services. The services segment has the largest share of hemato oncology testing market due to a rise in awareness regarding personalized medicine and advanced treatment therapies. The technology segment includes cytogenetics, IHC, NGS and PCR. NGS is expected to show highest growth over the forecast period due to its advantages like specificity and sensitivity.
Oncology testing is done in order to identify an existing disease, guide treatment decisions and predict future cancer. Hemato oncology testing is used to prevent, treat and diagnose cancer and blood diseases. Hematology tests involves tests on blood producing organs, blood proteins and blood.It is used to evaluate anemia, hemophilia, infection, inflammation, leukemia and blood-clotting disorders. The global hemato oncology testing market is driven by an increased number of tumor and blood diseases. Also, established collaborations for developing new assays, growing awareness, increased prevalence of haematological cancer, and rise in the geriatric population are contributing to increasing demand for hemato oncology testing market.
About the report:
The global hemato oncology testing market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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