Hemato Oncology Testing Market: Introduction
• Hematologic malignancies are amongst the top ten malignant disorders with respect to the incidence rate as well as cause of death in patients suffering from cancer. Collectively, they constitute approximately 9% of all cancer cases diagnosed in a year. Geneticists are providing hemato oncologists with not only diagnostic tests but also key knowledge about cancer genetics, which helps specialists assess prognosis of their patients, select the most appropriate anticancer therapy, and monitor the response to treatment. Generally, peripheral blood lymphocyte culture is utilized to diagnose non-malignant genetic disorders. The cells are cultured in a favorable media using T lymphocyte mitogens, such as phytohemagglutinin (PHA), to enhance the mitotic division and abundant metaphases are obtained. However, malignant cells from bone marrow or peripheral blood are used for identification of cytogenetic abnormalities in hematological malignancies, wherein the yield of metaphases may be suboptimal. Cytogenetic analysis of chronic lymphocytic leukemia (CLL) and multiple myeloma (MM) patients is often difficult because of the low proliferating rate of the malignant cells and the presence of normal cells in bone marrow, which may interfere with their growth rate. In such cases, TPA (12-O-tetradecanoylphorbol 13-acetate) stimulated cultures are utilized to improve the yield of metaphases.
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Key Drivers and Opportunities of Global Hemato Oncology Testing Market
• Multiple myeloma is the third-most common form of hematological malignancy, after non-Hodgkin’s lymphoma and leukemia, and is characterized by uncontrolled proliferation of a clone of plasma cells within the bone marrow. New cases of leukemia, lymphoma, and myeloma accounted for 10% of the estimated 1,762,450 new cancer cases diagnosed in the U.S. in 2019.
• Government and non-government organizations engaged in increasing awareness about the disease and early diagnosis. Thus, increase in awareness boosts the demand for testing products and subsequently, propels the market.
• Hospitals and diagnostic centers process a large number of samples for diagnosis of several types of cancers. Rapid increase in burden of sample processing in healthcare facilities owing to high prevalence and incidence of cancer among the population is projected to be a major driver of the market.
• New innovative technologies, such as fluid biopsies, real time cancer diagnostics, digital PCR, immunohistochemistry, molecular testing, next-generation sequencing (NGS), and cytogenetics, improve the efficiencies and precision in cancer diagnostics and prevention. This, in turn, is projected to fuel the market
• Public private partnership and movement toward molecular pathology are likely create significant opportunity for the market
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North America to Dominate Global Hemato Oncology Testing Market
• In terms of region, the global hemato oncology testing market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the global hemato oncology testing market during the forecast period.
• New product launches and the presence of key market players with strong focus on research and development are expected to drive the hemato oncology testing market in the region during the forecast period
• The hemato oncology testing market in Asia Pacific is estimated to expand at a rapid pace during the forecast period. Furthermore, government initiatives to expand healthcare infrastructure are likely to augment the market.
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Key Players Operating in Global Hemato Oncology Testing Market
The global hemato oncology testing market is fragmented with the presence of international as well as local players. A large number of manufacturers hold a major share in their respective regions. Demand for hemato oncology testing products has increased in emerging as well as developed markets owing to a rise in awareness regarding technological advanced products. Strategies adopted by key players is likely to fuel the market. For instance, in August 2020, Thermo Fisher Scientific launched Ion Torrent Genexus System, which enabled the company to enhance its hematology-oncology assays portfolio
Key players operating in the global hemato oncology testing market are:
• Abbott Laboratories
• Abingdon Health
• QIAGEN
• F. Hoffmann-La Roche Ltd
• EntroGen
• Cepheid
• Thermo Fisher Scientific Inc
• Illumina
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