The global hematologic malignancies testing market size is expected to register a revenue CAGR of 14.7% over the forecast period, according to Reports and Data.

NEW YORK CITY, NY, UNITED STATES, January 16, 2023 /EINPresswire.com/ -- The global hematologic malignancies testing market size was USD 2.55 Billion in 2021 and is expected to register a revenue CAGR of 14.7% over the forecast period, according to the latest report by Reports and Data.

Hematologic malignancies are essentially tumours that originate in stem cells or white blood cells. Genetic research and DNA testing have substantially aided in the diagnosis and treatment of several diseases, such as acute leukaemia, chronic myeloid neoplasms, and multiple myeloma. In addition, developments in technology and medicine have improved the identification and treatment of hematologic malignancies, which is also anticipated to contribute to the rise of market revenue.

The widespread use of technologically improved genetic analysis and DNA testing is a result of the rise in blood cancer incidence. A few of the key drivers anticipated to propel market revenue growth over the projected period include the acceptance of DNA sequencing techniques in clinical practise and greater focus on creating improved screening and diagnostic techniques for hematologic malignancies. Recently developed electrochemical sensing methods can detect solid tumours and haematological malignancy during therapeutic interventions. Another element anticipated to fuel market revenue development is the effectiveness of these techniques, which has been demonstrated.

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Several cutting-edge technologies, including next-generation sequencing, ultra-deep Polymerase Chain Reaction (PCR), whole genome, and exome sequencing, have shown to be very successful in finding a number of mutations that are implicated in the aetiology of haematological malignancies. Rising use of these testing methods to develop novel, targeted treatments is also a driver propelling market revenue growth over the predicted period.

Some Key Highlights from the Report

• The market for testing hematologic malignancies is divided into multiple myeloma, myelodysplastic syndrome, leukaemia, myeloproliferative neoplasms, and lymphoma according on the kind of disease. Due to an increase in demand for early diagnosis due to the rising prevalence of leukaemia, the leukaemia segment accounted for the greatest revenue share in 2021. For instance, according to the American Cancer Society, there will be 60,530 new cases of leukaemia and 23,100 fatalities from the disease in 2020. Additionally, the nation will see 8,860 new instances of chronic myelogenous leukaemia in 2022, 5,120 male cases and 3,740 female cases, according to research done by the American Cancer Society.

• According to regional research, the market in North America held the biggest market share over the predicted period. This occurs as a result of the development of healthcare facilities and the presence of important stakeholders. Other elements that are anticipated to contribute to market revenue development include more collaborative research and favourable government regulations.

• Additionally, the expansion of joint research and helpful government initiatives both contribute to market revenue development. For instance, chronic myelogenous leukaemia accounts for 15% of all new occurrences of leukaemia. Additionally, according to studies, 1 in 526 Americans will get chronic myelogenous leukaemia at some time in their life. The average age at which chronic myelogenous leukaemia is identified is 64 years.

• StemoniX, Inc. and Cancer Genetics, Inc. agreed to join on August 1, 2020. The combined operations of the companies would be in a position to gain from the productivity of cutting-edge pharmaceutical research and production processes, specialised animal models, and related high throughput human organotypic platforms as a result of this merger.

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Companies profiled in the market report include:

Invitae Corporation, Bio-Rad Laboratories Inc., Sysmex Corporation, Laboratory Corporation of America Holdings, NeoGenomics Laboratories, Abbott, VYANTbio, Adaptive Biotechnologies, Asuragen Inc., Invivoscribe, Inc., and others.

For the purpose of this report, Reports and Data has segmented the global hematologic malignancies testing industry into Product Outlook, Disease type Outlook, Technology Outlook, End-Use Outlook, Regional Outlook:

Product Outlook (Revenue, USD Billion; 2019-2030)
• Services
• Kits

Disease type Outlook (Revenue, USD Billion; 2019-2030)
• Multiple Myeloma
• Myelodysplastic Syndrome
• Leukemia
• Myeloproliferative Neoplasms
• Lymphoma

Technology Outlook (Revenue, USD Billion; 2019-2030)
• Polymerase Chain Reaction
• Immunohistochemistry
• Next-generation Sequencing
• Fluorescence In Situ Hybridization

End-Use Outlook (Revenue, USD Billion; 2019-2030)
• Hospitals
• Specialty Clinics
• Research Institutions
• Others

Geographic Segment Covered in the Report:

The Biodefense report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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