The global Hematologic Malignancies Testing Market is forecasted to be worth USD 5.45 Billion by 2027, according to a current analysis by Emergen Research. The rapid growth of the global market for Hematologic Malignancies Testing can be attributed to the rising prevalence of Leukemia and Multiple myeloma. 10% of all hematologic cancers are due to multiple myeloma. It is estimated that about 12,830 deaths from multiple myeloma (7,190 in men and 5,640 in women) will happen in 2020. Besides, increasing awareness among patients and healthcare professionals about the initial diagnosis of Hematologic Malignancies is anticipated to stimulate growth over the forecasted timeframe. Furthermore, the rising emphasis on personalized medicine is also expected to drive the market growth of global Hematologic Malignancies Testing.
The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
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Some Key Highlights from the Report
- In March 2020, Sysmex Corporation received japan marketing clearance for BGI Genomics Coronavirus kit distribution. This initiative will strengthen its position in Japan.
- During the forecast timeline, the Next-generation sequencing segment will hold the largest market with a CAGR of 14.8%. In next-generation sequencing, the steadily developing cohort of technologies allowing the detection of gene variations present in Rna and DNA. In the case of hematologic malignancies, such differences provide diagnostic relevance.
- It is expected that the Leukemia segment will hold the largest market throughout the forecasted period. The demand for early diagnosis and growing the cases of leukemia are expected to drive the growth of this segment.
- The region of North America accounts for the largest market in the forecast timeline. The presence of the key players, and the existing advanced healthcare facilities, are the forces responsible for growth.
The researchers have considered all the factors influencing the growth of the Hematologic Malignancies Testing market on the global and regional scale. The report considers the COVID-19 pandemic as one of the key influencing factors of the Hematologic Malignancies Testing market. The pandemic has disrupted the supply chains and economic scenario of the market and has hindered the growth of the market. The report discusses in detail the overall impact of the COVID-19 pandemic on the Hematologic Malignancies Testing market and its key segments. The report also offers a current and future impact of the COVID-19 pandemic on the market.
Major Players/Manufacturers profiled in the report are:
ArcherDx, Inc., Bio-Rad Laboratories, Inc., Sysmex Corporation, Invitae Corporation, NeoGenomics Laboratories, Inc., Abbott Laboratories, Cancer Genetics Inc., Adaptive Biotechnologies Corporation, Asuragen, Inc., and Invivoscribe, Inc. among others.
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Emergen Research has segmented the global Hematologic Malignancies Testing Market on the basis of product, technology, disease, end-use, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Services
- Kits
Technology Outlook (Revenue, USD Billion; 2017-2027)
- Polymerase Chain Reaction
- Immunohistochemistry
- Next-generation sequencing
- Fluorescence in situ hybridization
Disease Outlook (Revenue, USD Billion; 2017-2027)
- Multiple myeloma
- Myelodysplastic syndrome
- Leukemia
- Myeloproliferative neoplasms
- Lymphoma
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Research Institutions
- Hospitals
- Specialty Clinics
- Laboratories
The Global Hematologic Malignancies Testing Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Hematologic Malignancies Testing market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Hematologic Malignancies Testing market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Hematologic Malignancies Testing market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Hematologic Malignancies Testing market.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8 year analysis of the Global Hematologic Malignancies Testing Market
- Critical assessment of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
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