As per DelveInsight’s assessment, the global blood cancer diagnostics market is estimated to grow at a CAGR of 6.34% during the forecast period from 2022 to 2027. The market is anticipated to grow owing to the growing prevalence of blood cancer worldwide, the increasing geriatric population, and the rising number of risk factors associated with blood cancer, along with the new products’ approval and launches. Some of the leading MedTech giants in the blood cancer diagnostics market include BD, Abbott, Agilent Technologies, Inc., Adaptive Biotechnologies, F. Hoffmann-La Roche Ltd., Invivoscribe, Inc., NeoGenomics Laboratories, Inivata Ltd., Lucence Health Inc., BioFluidica, SkylineDx, MedGenome, Xian Tianlong Science and Technology Co., Cepheid, Abingdon Health, and others.
DelveInsight’s “Blood Cancer Diagnostics Market Insight, Competitive Landscape and Market Forecast – 2027” research report provides the current and forecasted blood cancer diagnostics market size, share, and trends analysis for the next five years. Moreover, it also highlights the ongoing innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
Blood Cancer Diagnostics Market: Overview
Blood cancer diagnostics are the medical devices that are used for the diagnosis, identification, risk assessment, and monitoring of blood cancers such as leukemia, lymphoma, and myeloma.
DelveInsight’s “Blood Cancer Diagnostics Market Report” provides an in-depth assessment of the market, segmented by product (instruments, assay kits, and reagents) and services, test type (blood tests, imaging tests, biopsy, and molecular tests), end-user (hospitals, clinics, and diagnostic labs) and geography (North America, Europe, Asia-pacific, and rest of the world).
As per the analysis, based on the test type segment of the blood cancer diagnostic market, the molecular tests’ category is projected to register significant growth in terms of revenue in the coming years owing to the advantages associated with the molecular tests-based blood cancer diagnostic solutions including flow cytometry, next generation sequencing (NGS), polymerase chain reaction (PCR), and others.
Blood Cancer Diagnostics Market Analysis
The Blood Cancer Diagnostics Market is anticipated to register high growth in the coming years owing to the rising prevalence of blood cancers such as leukemia, lymphoma, and myeloma. As per the Global Cancer Observatory 2021 data, globally, around 544,000+ cases of Non-Hodgkin lymphoma and 83,000+ cases of Hodgkin lymphoma were reported in 2020. Moreover, about 474,000+ leukemia cases and nearly 176,000+ cases of multiple myeloma were reported in 2020. The growth in the number of cases is expected to accelerate the demand for blood cancer diagnostics products.
Moreover, the increasing geriatric population, which is prone to various chronic disorders, including blood cancer, is also likely to assist in the growth of the blood cancer diagnostics market. As per the estimate, by 2030, out of 6, at least 1 person will have his/her age 60 years or above. Furthermore, by 2050, the number of people aged 60 years or above will be around 2.1 billion.
Additionally, growth in the risk factors associated with the development of blood cancers, including tobacco consumption, smoking, family history, and previous cancer treatment, are also expected to drive the number of cancer cases in the coming years. However, risks associated with blood cancer diagnostics and the lack of skilled healthcare professionals may hamper the blood cancer diagnostics market growth.
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Blood Cancer Diagnostics – Global Market Assessment and Forecast
Among all the regions, North America is anticipated to dominate the global blood cancer diagnostic market in terms of revenue generation. The presence of a large patient pool associated with blood cancer, such as leukemia, lymphoma, and myeloma, is one of the key factors stimulating the blood cancer diagnostics market growth in the region. As per the estimate, in 2020, there were around 61,000+ new cases of leukemia recorded in the US. Moreover, around 73,000+ cases of Non-Hodgkin lymphoma and 8,000+ new cases of Hodgkin lymphoma were recorded in 2020 in the US.
Apart from the rising number of cases, the increase in the number of smokers, a highly potent market in terms of product development and launches, rising consumer awareness, and the active presence of key market players are also anticipated to drive the Blood Cancer Diagnostics market growth in the North America region.
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Blood Cancer Diagnostics Market – Key Developments and Breakthroughs
Over the years, the Blood Cancer Diagnostics market has evolved significantly owing to the active participation of the global MedTech companies and technological advancements in the domain. Similarly, several clinical, commercial, and regulatory developments have also been registered. Some of the major advancements in the Blood Cancer Diagnostics Market in recent years include –
- In February 2022, BD announced the acquisition of Cytognos, a company that specializes in providing flow cytometry solutions for blood cancer diagnosis.
- In October 2021, Sysmex Inostics launched CLIA-validated liquid biopsy test for the detection of Minimal Residual Disease (MRD) in Acute Myeloid Leukemia (AML).
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Key Companies in the Blood Cancer Diagnostics Market
Globally, some of the leading MedTech companies working in the Blood Cancer Diagnostics Market include BD, Abbott, Agilent Technologies, Inc., Adaptive Biotechnologies, F. Hoffmann-La Roche Ltd., Invivoscribe, Inc., NeoGenomics Laboratories, Inivata Ltd., Lucence Health Inc., BioFluidica, SkylineDx, MedGenome, Xian Tianlong Science and Technology Co., Ltd., Cepheid, Abingdon Health, and others. Owing to the rising demand and favorable growth opportunities for revenue generation, several new players are anticipated to enter the market, thereby leading to very high competitiveness in the domain.
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Blood Cancer Diagnostics Competitive Landscape
Scope of the Blood Cancer Diagnostics Market Report:
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- Study Period – 2019-2027
- Blood Cancer Diagnostics Market Assessment –
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- By Type – Product (Instruments, Assay Kits and Reagents) and Services
- By Test Type – Blood Tests, Imaging Tests, Biopsy, and Molecular Tests
- By End-User – Hospitals, Clinics, and Diagnostic Labs
- By Geography – Global – North America, Europe, Asia-Pacific, and Rest of the World
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- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s Views
- Geography Covered – North America, Europe, Asia-Pacific, and Rest of the World
Table of Content
| 1 | Report Introduction |
| 2 | Executive Summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Blood Cancer Diagnostics Market Key Factors Analysis |
| 5 | Blood Cancer Diagnostics Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on the Blood Cancer Diagnostics Market |
| 7 | Blood Cancer Diagnostics Market Layout |
| 8 | Blood Cancer Diagnostics Global Company Share Analysis – Key 3–5 Companies |
| 9 | Blood Cancer Diagnostics Product Profiles and Key Companies |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
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Blood Cancer Diagnostics Market Insights and Competitive Landscape
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