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%. Hematology-oncology refers to the science which is associated with diagnosis, treatment, and prevention of blood-related diseases and cancer.
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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.
The services segment accounted for the largest share of the product & services segment in the Hemato Oncology Testing Market.
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.
Availability of robust infrastructure and high-end equipment for conducting hemato oncology tests are the supporting factors for clinical laboratories segment
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
North America accounted for the largest share of the Hemato Oncology Testing Market
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.
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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).
