Growth in this market is driven mainly by the rising
prevalence of lymphoma & myeloma cancers, growing focus on personalized
medicine, and increasing collaborations for developing assays.
Hemato oncology is typically referred to as the science
associated with the treatment, diagnosis, and prevention of blood-related
diseases and cancers.
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Market Segmentation
Based on product & services, the market is
segmented into assay kits and services. In 2018, the services segment accounted
for the largest share of the product & services segment in the hemato
oncology testing market. The large share of this segment can be attributed to
the rising prevalence of hematologic cancers and increasing aging population.
Based on end-user, the hemato-oncology testing market
has been segmented into four types, i.e., clinical laboratories, hospitals,
academic & research institutes, and other end-users. Other end-users
include CROs and pharmaceutical & biotechnological companies. Clinical
laboratories accounted for the largest share of the market in 2018. This
segment is expected to grow at the highest rate in the coming years. This is
mainly due to the presence of advanced diagnostic equipment such as analyzers
and the presence of skilled professionals to perform these tests.
Regional Analysis
North America accounted for the largest share of the hemato
oncology testing market in 2018. The large share of this segment can primarily
be attributed to the high incidences of hematologic cancer, aging population,
awareness regarding advanced treatment methods, and the strong presence of
industry players in the region. These trends are likely to drive market growth
during the forecast period.
Key Market Players
Some of the leading players in the hemato oncology testing
market include F. Hoffmann-La Roche Ltd. (Switzerland), Abbott Laboratories
(US), Thermo Fisher Scientific, Inc. (US), QIAGEN N.V. (Germany), Bio-Rad
Laboratories, Inc. (US), Illumina, Inc. (US), MolecularMD (Ireland),
Invivoscribe, Inc. (US), Asuragen, Inc. (US), Adaptive Biotechnologies (US),
ArcherDx, Inc. (US), and ARUP Laboratories Inc. (US).
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Expected Revenue Growth:
[116 Pages Report] The hemato oncology testing market is
projected to reach USD 4.0 billion by 2024 from USD 2.0 billion in 2019, at a
CAGR of 14.8% during the forecast period.
F. Hoffmann-La Roche Ltd. (Switzerland) was the
leading player in the hemato-oncology testing market in 2018. The company
offers a full range of tests for the diagnosis of hemato-oncology cancers, such
as leukemia, lymphoma, and myeloma, among others.
The Wall