Hemato Oncology Testing Market is projected to reach USD 5.6 billion by 2027 from an estimated USD 2.9 Billion in 2022, at a CAGR of 14.2% according to a new report by MarketsandMarkets™. The growth in this market is attributed to the growing incidence of hematologic cancer, increasing collaborations, and the increasing number of conferences on personalized medicine.

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Key Market Players

The market is competitive. The major players operating in hemato oncology testing market are Abbott Laboratories (US), F. Hoffman-La Roche (Switzerland), QIAGEN (Germany), Thermo Fisher Scientific (US), Illumina (US), Bio-Rad Laboratories (US), MolecularMD (Ireland), ArcherDX (US), ARUP Laboratories (US), Asuragen (US), Invivoscribe (US), Adaptive Biotechnologies (US), Amoy Diagnostics (China), ELITechGroup (France), Vela Diagnostics (Singapore), Gentronix (UK), BioIVT (US), SAGA Diagnostics (Sweden), Olink (Sweden), Cancer Diagnostics (US).

ABBOTT LABORATORIES (US)

Abbott Laboratories was the leading player in the hemato-oncology testing market in 2021. In Abbott’s worldwide Diagnostics business, sales increased by 42.7% in 2021. It offers kits for chronic lymphocytic leukemia (CLL) and acute myeloid leukemia (AML). The company has been able to introduce innovative products, such as Abbott RealTime IDH1 and Abbott RealTime IDH2 assay kits, into the market. Abbott has a strong presence in the US, where it registered USD 7,129 million in 2021 for the Diagnostics business.

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F. HOFFMANN-LA ROCHE (SWITZERLAND)

F. Hoffmann-La Roche was the second-largest player in the hemato-oncology testing market in 2021. The company offers a full range of tests for the diagnosis of hemato-oncology cancers, such as leukemia, lymphoma, myeloma, and other cancers. Its strong presence across the globe, robust distribution channels, and brand image help the company maintain a dominant position in the hemato-oncology testing market. Roche has been focusing on emerging markets in recent years, with specific focus on the Asia Pacific. The company has also registered USD 4,347 million in overall sales from the Asia Pacific market in 2021 for its Diagnostic division.

QIAGEN (GERMANY)

QIAGEN was the third-largest player in this market in 2021. The company offers the RT2 Profiler PCR arrays for testing hemato-oncology cancers. It focuses on organic growth strategies to maintain its leading position in the market. In 2021, the company launched the QIAact Myeloid DNA UMI Panel for hemato-oncology cancer research. The company also focuses on R&D to introduce innovative products into the market. The company invested approximately 88% of its total revenue in consumables and related revenue.

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North America to hold a significant share of the Hemato oncology testing market during the forecast period in 2021

The global hemato oncology testing market is segmented into North America, Europe, Asia Pacific, and ROW. North America dominated hemato oncology testing market. The largest share can be attributed to the significant advances have been made in cancer treatment driven by advances in personalized medicine, increasing co-development projects, and increasing collaborations for developing new assay tests.

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Hemato Oncology Testing Market by Product & Services (Services, Assay Kits), Cancer (Leukemia (Acute Myeloid, Acute Lymphocytic), Lymphoma (Non-Hodgkin, Hodgkin), Technology (PCR, NGS), End User - Global Forecast to 2027

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