The 2023 report on the “Hemato Oncology Testing Market” presents a thorough and accurate examination of different factors pertaining to business expansion prospects, challenges, risk elements, and trends in all geographical regions. This report delivers current information on the most recent technological developments, along with SWOT and PESTLE analysis, and valuable insights on market size.
Global Hemato Oncology Testing Market is valued at approximately USD $ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $ over the forecast period 2022-2029. Hemato Oncology Testing is the diagnosis, treatment, and prevention of blood diseases, while oncology is the treatment of cancer. Hematology-oncology encompasses hemophilia, iron deficiency anaemia, leukemias and lymphomas, sickle cell disease, thalassemia’s, and other organ cancers. The Hemato Oncology Testing market is expanding because of factors such as the rising incidences of hematologic cancer and increasing demand for personalized therapy.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to the PMC PubMed Central in 2018, around 174,250 people across the United States in 2018 were diagnosed with homological malignancies. Also, the incidences are rising about 1.29 million people are living with HM’s. According to the American Society of Clinical Oncology in 2020, the estimated number of cancers is higher in females with around 712,758 than in males with 679,412 in 2020.
Whereas advanced molecular techniques for hemato-oncology diagnostics and increasing drug-diagnostic co-development create lucrative opportunities for the market. However, unfavorable reimbursement scenario hampers the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Hemato Oncology Testing Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing prevalence of hematologic cancer, growing aging population, and awareness of advanced treatment methods. Whereas, North America is expected to grow significantly during the forecast period, owing to factors such as growing prevalence of leukemia, lymphoma, and multiple myeloma diseases, growing R&D activities by market players in the forecast period
Major market players included in this report are:
F. Hoffmann-La Roche Ltd
Abbott
Invitae Corporation (Archerdx, Inc)
QIAGEN
Thermo Fisher Scientific Inc.
Illumina Inc.
Bio-Rad Laboratories, Inc.-
Molecularmd (Subsidiary of Icon PLC)
Asuragen, Inc.
Arup Laboratories Inc.
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Recent Developments in the Market:
In May 2018, Adaptive Biotechnologies (US) and Sanofi, SA. (US) collaborated to use Adaptive’s clonoSEQ Assay to assess MRD status in response to isatuximab.
In July 2018, Abbott Laboratories (US) received FDA approval for its Abbott RealTime IDH1 kit
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product & Service:
Assay Kits
Services
By Cancer:
Leukemia
Non-Hodgkin’s Lymphoma
By Technology:
PCR, Polymerase chain reaction
NGS, Next-generation sequencing (NGS)
IHC Immunohistochemistry (IHC)
By End-User:
Clinical Laboratories,
Hospitals
By Region:
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North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Some of the Key Questions Answered in this Report:
Market dimension: What is the size of the market at the regional and country level?
Drivers, restraints, opportunities, and challenges: What are the key factors influencing the market and how are they expected to impact it?
International revenue, manufacturing value, consumption value, import and export: What is the economic value and trade dynamics of the market across different regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa)?
Key producers and their working state of affairs: Who are the leading manufacturers in the market industry and what is their current capacity, production, sales, pricing, costs, gross, and revenue?
Possibilities and threats for market carriers: What opportunities and challenges are faced by the vendors in the global market industry?
Incremental growth prospects for application/end-users and product types: Which specific applications or product types are expected to experience growth opportunities? What is the market share of each type and application?
Targeted strategies and constraints: What strategies are being implemented and what constraints are affecting the market?
Sales, marketing, and distribution channels: What are the different channels used for sales, marketing, and distribution in the global industry?
Upstream raw materials, production equipment, and manufacturing process: What are the raw materials, production equipment, and manufacturing processes involved in the market?
Key market trends: What are the significant trends impacting the growth of the market?
Economic impact and development trends: How does the market industry impact the economy, and what are the development trends within the market?
Overall, the report provides comprehensive insights into the market’s size, drivers, challenges, key players, opportunities, trends, and economic impact, offering a holistic understanding of the market industry.
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