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The rising prevalence of Leukemia and Multiple myeloma and the increasing awareness among patients and healthcare professionals about initial diagnosis.

VANCOUVER, BC, CANADA, June 13, 2023/EINPresswire.com/ -- The global Hematologic Malignancies Testing Market is forecasted to be worth USD 5.45 Billion by 2027, according to a current analysis by Emergen Research. The rapid growth of the global market for Hematologic Malignancies Testing can be attributed to the rising prevalence of Leukemia and Multiple myeloma. 10% of all hematologic cancers are due to multiple myeloma. It is estimated that about 12,830 deaths from multiple myeloma (7,190 in men and 5,640 in women) will happen in 2020. Besides, increasing awareness among patients and healthcare professionals about the initial diagnosis of Hematologic Malignancies is anticipated to stimulate growth over the forecasted timeframe. Furthermore, the rising emphasis on personalized medicine is also expected to drive the market growth of global Hematologic Malignancies Testing. This procedure can be used in a very particular way to identify and diagnose disorders, classifying those through hereditary variance instead of by symptoms. This encourages more precise and efficient therapies, strengthening the prognosis of patients.

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However, complications related to genetic cancer tests' analytical reliability are anticipated to hinder the market growth in the forecasted period.

Some Key Highlights from the Report

In March 2020, Sysmex Corporation received japan marketing clearance for BGI Genomics Coronavirus kit distribution. This initiative will strengthen its position in Japan.

During the forecast timeline, the Next-generation sequencing segment will hold the largest market with a CAGR of 14.8%. In next-generation sequencing, the steadily developing cohort of technologies allowing the detection of gene variations present in Rna and DNA. In the case of hematologic malignancies, such differences provide diagnostic relevance.

It is expected that the Leukemia segment will hold the largest market throughout the forecasted period. The demand for early diagnosis and growing the cases of leukemia are expected to drive the growth of this segment.

The region of North America accounts for the largest market in the forecast timeline. The presence of the key players, and the existing advanced healthcare facilities, are the forces responsible for growth.

Key participants include ArcherDx, Inc., Bio-Rad Laboratories, Inc., Sysmex Corporation, Invitae Corporation, NeoGenomics Laboratories, Inc., Abbott Laboratories, Cancer Genetics Inc., Adaptive Biotechnologies Corporation, Asuragen, Inc., and Invivoscribe, Inc. among others.

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Emergen Research has segmented the global Hematologic Malignancies Testing Market on the basis of product, technology, disease, end-use, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

Services

Kits

Technology Outlook (Revenue, USD Billion; 2017-2027)

Polymerase Chain Reaction

Immunohistochemistry

Next-generation sequencing

Fluorescence in situ hybridization

Disease Outlook (Revenue, USD Billion; 2017-2027)

Multiple myeloma

Myelodysplastic syndrome

Leukemia

Myeloproliferative neoplasms

Lymphoma

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End-Use Outlook (Revenue, USD Billion; 2017-2027)

Research Institutions

Hospitals

Specialty Clinics

Laboratories

Regional Outlook (Revenue, USD Billion; 2017-2027)

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Additional information offered by the report:

Along with a complete overview of the global Hematologic Malignancies Testing market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels. 

The report elaborates on the global Hematologic Malignancies Testing market size and share governed by the major geographies.

 It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.

It further presents a detailed description of the company profiles of the key market contenders.

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