Market Definition 

Hematology deals with blood, blood-forming organs and blood diseases. Hematology tests include tests on the blood, blood proteins and blood-producing organs. Hematology tests evaluate the blood conditions including infection, anemia, inflammation, blood-clotting disorders, hemophilia, leukemia and the body's response to chemotherapy treatments. 

Global hemato oncology testing market is estimated to reach $XX billion by 2027, growing at a CAGR of 14.5% till 2027. 

Market Dynamics 

The increasing prevalence and incidence of hematologic cancer is a key driving factor of the market. According to the Leukemia Research Foundation, in 2020, more than 1.3 million people in the United States are living with blood cancer. In 2020, more than 175,000 new cases of blood cancer were diagnosed in the United States. Blood cancers account for approximately 10% of all new cancer cases diagnosed and are estimated 68,000 deaths from blood cancer in 2020. Around 60,300 people are expected to be diagnosed with leukemia in 2020, and over 382,000 people are living with leukemia. In 2020, 83,200 people were diagnosed with non-Hodgkin or Hodgkin Lymphoma, and over 845,076 people are living with lymphoma. Around 118,273 people are living with myeloma in the United States, and over 118,273 people were living with myeloma in 2020. According to the Leukaemia Foundation Australia, in 2020, more than 110000 people are living with blood cancer and other related blood disorder in Australia. More than 17000 Australians are diagnosed with a new blood cancer such as leukemia, lymphoma and myeloma every year, and over 5,600 people in Australia are expected to die from blood cancer or related blood disorders in 2020. In India, around 1.5 million cases of blood cancer are registered each year. However, stringent regulatory frameworks delaying the approval of new molecular diagnostic tests might hamper the market growth. Moreover, developing countries that provide untapped markets for multinational companies would provide lucrative opportunities for the market in coming years. 

Market Segmentation 

The global hemato oncology testing market is mainly classified based on type, application, and end-user. Type is further segmented into Assay Kits & Reagents and Services. By application, the market is divided into Leukemia, Lymphoma, and Others. By end-user, the market is further segmented into Hospitals, Clinical Laboratories, and Others. 

Based on the product, Assay Kits & Reagents showed significant growth in 2020, owing to the rising incidence of leukemia, non-Hodgkin lymphoma, and myeloma cancers, rising awareness regarding advanced testing and treatment therapies, and commercialization of regulatory approved testing kit for blood cancer. For instance, Sysmex Corporation has introduced the ipsogen JAK2 DX reagent. The company received marketing approval on the JAK2 DX reagent. Ipsogen JAK2 DX Reagent is a gene testing kit that measures the JAK2V617F mutation quantitatively, used in the diagnosis of certain hematopoietic tumors or blood cancers, specifically polycythemia vera (PV), essential thrombocythemia (ET), and primary myelofibrosis (PMF). 

Regional Analysis 

Based on geography, the global hemato oncology testing market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided into the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and the Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and the Rest of Asia-Pacific. The South America region is divided into Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa. 

North America was dominating the hemato oncology testing market in 2020 due to the rising prevalence of leukemia, non-Hodgkin lymphoma, and myeloma cancers, the collaboration between companies to develop hemato oncology testing kits, and increasing regulatory approval of hemato oncology testing kits. For instance, Abbott Laboratories has received FDA approval for its Abbott RealTime IDH1 kit. The Abbott RealTime IDH1 is a laboratory test intended to detect the presence of five specific mutations in the isocitrate dehydrogenase-1 (IDH1) gene in blood or bone marrow from patients with acute myeloid leukemiaExternal Link Disclaimerdisclaimer icon (AML). 

Competitive landscape 

Major players operating in the hemato oncology testing industry include Abbott Laboratories, Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., Bio-Rad Laboratories, Inc., Illumina, Inc., Invivoscribe, Inc., Adaptive Biotechnologies, Invitae, and ARUP Laboratories Inc. 

Rising investment for the development of hemato oncology testing kit, commercialization of regulatory approved hemato oncology testing kit, increasing launch of services regarding hemato oncology testing and collaborations among various market players for the development of hemato oncology testing kit are some of the strategies adopted by the major players. For instance, on February 3, 2021, Otsuka Pharmaceutical Co. Ltd. and Illumina, Inc. have collaborated to develop an in-vitro diagnostic (IVD) genomic profiling testing kit for patients with blood cancers in Japan. Based on the agreement, Otsuka will develop in-vitro diagnostic (IVD) tests based on a genomic profiling assay that will run on Illumina’s NextSeq 550Dx system. 

Hemato Oncology Testing Market Key Segments: 

By Type 

• Assay Kits & Reagents 
• Services 

By Application 

• Leukemia 
• Lymphoma 
• Others 

By End-User 

• Hospitals 
• Clinical Laboratories 
• Others 

Key Global Hemato Oncology Testing Industry Players 

• Abbott Laboratories 
• Thermo Fisher Scientific, Inc. 
• F. Hoffmann-La Roche Ltd. 
• QIAGEN N.V. 
• Bio-Rad Laboratories, Inc. 
• Illumina, Inc. 
• Invivoscribe, Inc. 
• Adaptive Biotechnologies 
• Invitae 
• ARUP Laboratories Inc. 

What Report Provides 

• Full in-depth analysis of the parent Industry 
• Important changes in market and its dynamics 
• Segmentation details of the market 
• Former, on-going, and projected market analysis in terms of volume and value 
• Assessment of niche industry developments 
• Market share analysis 
• Key strategies of major players 
• Emerging segments and regional growth potential