The global hemato oncology testing market size is expected to reach USD 7.2 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.6% from 2020 to 2027. Key drivers for the market include rising incidences of leukemia, lymphoma, myeloproliferative neoplasms, and multiple myeloma. Also, growing collaborations among various major players and research organizations, and an increasing number of research activities conducted by academic and research institutes to develop technologically advanced hemato oncology tests is anticipated to fuel market growth.
Hemato Oncology Testing Market Report Highlights
- Lymphoma held a dominant share in terms of revenue in the cancer type segment owing to a rise in the prevalence of Hodgkin and Non-Hodgkin Lymphoma
- The services segment captured the largest market share due to an increase in the incidence rate and rising awareness regarding various treatment therapies such as personalized medicines
- The PCR segment dominated the market in terms of revenue share in 2019 and witnessed exponential growth owing to its ease in use, affordability, the accuracy and efficiency provided, rise in the number of product launches and approval, technological advancements of testing products, and easy availability
- The hospitals segment witnessed exponential growth in 2019 owing to the availability of hemato oncology diagnostic tests and the presence of healthcare professionals to conduct diagnostic tests and monitor the disease
- In North America, the market is expected to witness exponential growth during the forecast period owing to a rise in the prevalence of multiple myeloma, the growing number of awareness and screening campaigns, and the launch of technologically advanced products for the diagnosis of hemato oncology
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Hematological oncology testing, also known as hemato-oncology testing, refers to a range of diagnostic tests and techniques used in the field of oncology to assess and monitor blood cancers and related hematological disorders. These tests are essential for accurate diagnosis, disease monitoring, treatment selection, and predicting patient outcomes. The applications of hemato-oncology testing encompass various aspects of patient care. One primary application is the detection and classification of hematological malignancies, such as leukemia, lymphoma, and myeloma. These tests help identify specific genetic and molecular alterations in cancer cells, which play a crucial role in disease diagnosis, prognosis, and treatment decision-making. Hemato-oncology testing also aids in distinguishing between different subtypes of blood cancers, guiding targeted therapies and personalized treatment approaches.
Furthermore, these tests are vital for disease monitoring and assessing treatment response. Regular monitoring of specific genetic markers and biomarkers associated with hematological malignancies allows healthcare providers to evaluate the effectiveness of therapy, adjust treatment plans, and detect minimal residual disease (MRD). MRD testing is especially important in assessing the presence of small numbers of cancer cells that may remain after treatment and help determine the risk of relapse. In addition to diagnosis and monitoring, hemato-oncology testing plays a crucial role in identifying potential genetic predispositions to blood cancers. Genetic testing can uncover hereditary mutations or alterations that increase an individual’s susceptibility to developing hematological malignancies, aiding in proactive screening, risk assessment, and counseling for patients and their families. The end-users of hemato-oncology testing include hospitals, diagnostic laboratories, research institutions, and pharmaceutical companies. These entities rely on these tests to provide accurate diagnoses, guide treatment decisions, support clinical trials, and drive research advancements in the field of hematological oncology. Hemato-oncology testing is an integral part of comprehensive cancer care, facilitating precision medicine approaches and improving patient outcomes in the management of blood cancers.
Liquid biopsy has emerged as a promising non-invasive diagnostic tool in hemato-oncology testing. It involves analyzing circulating tumor cells (CTCs), cell-free DNA (cfDNA), or exosomes in a patient’s blood sample to detect genetic mutations, chromosomal abnormalities, or other biomarkers associated with blood cancers. Liquid biopsy has the potential to provide real-time monitoring of disease progression and treatment response, as well as aid in early detection of minimal residual disease (MRD). Next-Generation Sequencing (NGS) technologies have advanced significantly in recent years, enabling comprehensive genomic profiling of hematological malignancies. NGS-based panels can simultaneously analyze multiple genes or regions of interest, allowing for the identification of genetic alterations, gene fusions, and mutations associated with specific blood cancers. NGS platforms are increasingly being adopted in clinical settings to guide treatment decisions, monitor disease evolution, and detect potential drug resistance.
Minimal Residual Disease (MRD) Monitoring testing has gained importance in hemato-oncology to assess the presence of residual cancer cells after treatment. Traditional methods, such as flow cytometry and polymerase chain reaction (PCR), have been enhanced with more sensitive techniques like next-generation flow cytometry (NGF) and digital PCR (dPCR). These approaches provide greater accuracy in detecting low levels of residual disease, aiding in treatment decisions, prognostication, and early intervention to prevent relapse. Immunohistochemistry (IHC) and Fluorescence In Situ Hybridization (FISH) techniques have been extensively used in the diagnosis and classification of hematological malignancies. Recent advancements in these technologies, including the development of new antibodies and probes, have improved their sensitivity and specificity. IHC and FISH play a vital role in identifying specific proteins or genetic alterations in cancer cells, assisting in accurate diagnosis and targeted therapy selection. The integration of AI and ML algorithms into hemato-oncology testing has the potential to enhance data analysis, improve accuracy, and facilitate personalized treatment decisions. These technologies can assist in identifying complex genetic patterns, predicting patient outcomes, and optimizing treatment strategies based on large-scale genomic data and clinical information.
The rising prevalence of lymphoma and myeloma is anticipated to propel the market growth during the forecast period. According to a report published by the American Cancer Society, it is estimated that there over 32,270 new cases of multiple myeloma which included 14,740 women and 17,530 men in 2018. Whereas, over 12,830 deaths were recorded in 2018 that included 5,640 women and 7,190 men. Therefore, a rise in the prevalence of the above-mentioned diseases is expected to enhance the usage of hemato oncology testing products.
An increase in the number of product launches is also a major factor contributing to the growth of the market. For instance, in October 2018, MedGenome launched the IGHV gene mutation testing. This test enables health care professionals to access the prognosis of chronic lymphocytic leukemia, and further manage the disease by personalized therapy.
The FDA approval of Invivoscribe’s LeukoStrat companion diagnostic test in conjugation with Novartis’s Rydapt for detection and treatment of AML has been a key factor in the rising number of manufacturers opting for the development of related products. The CE approved assay was launched in 2017, being the first companion diagnostic to be used for the detection of AML. Similarly, in the year 2018, Invivoscribe announced the U.S. FDA’s approval for LeukoStrat CDx FLT3 Mutation Assay and XOSPATA, an AML drug manufactured by Astellas Pharma.
Growing collaborations among market players and academic and research organizations are anticipated to boost growth during the forecast period. For instance, in May 2018, Invivoscribe Technologies Inc. collaborated with the American University of Beirut Medical Center (AUBMC) in order to design and build a new center for excellence treatment in the Middle East region for advanced research in hemato oncology testing as well as treatment.
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Hemato Oncology Testing Market Insights By Region
North America dominated the market, this growth is attributed to the rising incidence of leukemia, lymphoma, and multiple myeloma. In addition, supportive initiatives undertaken by major market players and various academic and research organizations are also driving the market. Similarly, a rise in the prevalence of Hodgkin lymphoma is another major factor expected to fuel the growth. The growing incidence of multiple myeloma across Europe is also expected to fuel the growth of the market during the forecast period. In Asia Pacific, the market is anticipated to witness the highest 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.
Competitive Analysis By Major Players
A rise in collaborations among various market players is anticipated to fuel the growth of the market during the forecast period. Some of the prominent players in the hemato oncology testing market include:
- Hoffman-La Roche Ltd
- Abbott Laboratories
- EntroGen, Inc.
- Qiagen N.V.
- Cepheid
- Thermo Fisher Scientific, Inc.
Grand View Research has segmented the global hemato oncology testing market report on the basis of cancer type, product, technology, end-use, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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