How much is the hematologic malignancies detection market worth, and how is it expected to expand?
The hematologic malignancies detection market size has grown rapidly in recent years. It will grow from $2.68 $ billion in 2024 to $3.1 $ billion in 2025 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to rising incidence rates of conditions, increased awareness about their importance, increased demand from both patients, supportive regulatory frameworks, and the rise 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 $5.46 $ billion in 2029 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to expanding healthcare infrastructure, government initiatives and funding, the expansion of health insurance coverage, and improvements in data management systems. Major trends in the forecast period include enhanced resolution of genetic and epigenetic data, advanced techniques for profiling protein expressions, enhanced immunoassay techniques, the development of nanomaterials and nano sensors, and the expansion of telemedicine platforms.
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Which industry factors have accelerated the hematologic malignancies detection market’s expansion?
The increasing prevalence of blood cancer is expected to propel the growth of the hematologic malignancy detection market going forward. Blood cancer is a group of cancers affecting the blood, bone marrow, or lymphatic system, disrupting average blood cell production and function. The prevalence of blood cancer is due to aging populations and improved diagnostic techniques that lead to earlier and more accurate detection. Hematologic malignancy detection is essential for blood cancer treatment as it enables early and accurate diagnosis, allowing for personalized and effective treatment strategies. For instance, in March 2024, according to a Cancer Facts & Figures 2023 report published by the Leukemia & Lymphoma Society, a US-based professional organization company, approximately 437,337 people are living with or remission from leukemia in the US. Further, around 59,610 new cases are expected to be diagnosed in 2024. Therefore, the increasing prevalence of blood cancer is driving the growth of the hematologic malignancy detection market.
What are the primary segments of the hematologic malignancies detection market?
The hematologic malignancies detectionmarket covered in this report is segmented –
1) By Type: Polymerase Chain Reaction, Immunochemistry, Next Generation Sequencing, Fluorescence In Situ Hybridization, Other Types
2) By Application: Multiple Myeloma, Myelodysplastic Syndrome, Leukemia, Myeloproliferative Neoplasms, Lymphoma, Other Application
3) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users
Subsegments:
1) By Polymerase Chain Reaction (PCR): Real-Time PCR (qPCR), Digital PCR, Reverse Transcription PCR (RT-PCR), Nested PCR, Multiplex PCR, PCR-Based Detection Kits
2) By Immunochemistry: Enzyme-Linked Immunosorbent Assay (ELISA), Immunohistochemistry (IHC), Western Blotting, Flow Cytometry, Immunofluorescence, Immunohistochemical Staining Kits
3) By Next Generation Sequencing (NGS): Whole Genome Sequencing (WGS), Whole Exome Sequencing (WES), Targeted Sequencing, RNA Sequencing (RNA-Seq), Liquid Biopsy NGS, Next-Generation Sequencing Kits For Hematologic Malignancies
4) By Fluorescence In Situ Hybridization (FISH): Chromosome-Specific FISH Probes, DNA FISH, RNA FISH, Multicolor FISH, FISH-Based Detection Kits For Leukemia And Lymphoma
5) By Other Types: Cytogenetic Testing, Cytometry-Based Detection, Magnetic Resonance Imaging (MRI) For Detection, High-Performance Liquid Chromatography (HPLC), Mass Spectrometry For Hematologic Malignancies Detection
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Which firms are leading the hematologic malignancies detection market?
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.
Which market trends are set to define the future of the hematologic malignancies detection market?
Major companies operating in the hematologic malignancy detection market are focusing on developing innovative solutions, such as blood cancer diagnostic tests, to enhance diagnostic accuracy and improve patient outcomes. Blood cancer diagnostic tests are crucial for identifying and confirming the presence of hematologic malignancies, such as leukemia, lymphoma, and multiple myeloma. For instance, in November 2023, Roswell Park Comprehensive Cancer Center, a US-based research and treatment center, launched PanHeme, an advanced blood cancer diagnostic test that utilizes next-generation gene sequencing technology for hematologic malignancy detection. Utilizing next-generation sequencing technology, PanHeme identifies genetic mutations in blood cancers such as leukemia, lymphoma, and multiple myeloma within 72 hours, significantly faster than traditional methods. This rapid turnaround enables personalized treatment plans by allowing healthcare providers to utilize targeted FDA-approved therapies based on specific mutations.
Which geographic trends are shaping the hematologic malignancies detection market, and which region has the highest market share?
North America was the largest region in the hematologic malignancies’ detection market in 2024. 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.
What Does The Hematologic Malignancies Detection Market Report 2025 Offer?
The hematologic malignancies detection market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Hematologic malignancy detection refers to identifying cancers that affect the blood, bone marrow, and lymphatic system. Hematologic malignancies include a variety of cancers, such as leukemia, lymphoma, and multiple myeloma. These cancers disrupt the average production and function of blood cells.
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