Global Blood Cancer Diagnostics Market Size, Share, and COVID-19 Impact Analysis, By Test (CBC Tests, CTC Tests, Liquid Biopsy, Blood Protein Testing, Bone Marrow Biopsy), By End User (Hospital Associated Labs, Independent Diagnostic Laboratories, Cancer Research Institutes, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030Industry: Healthcare
Global Blood Cancer Diagnostics Market Insights Forecasts to 2030
- The Blood Cancer Diagnostics Market was valued at USD 15.56 Billion in 2021.
- The Market is growing at a CAGR of 6.7% from 2022 to 2030
- The Worldwide Blood Cancer Diagnostics Market is expected to reach USD 16.27 Billion by 2030
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global Blood Cancer Diagnostics Market is expected to reach USD 16.27 Billion by 2030, at a CAGR of 16.27% during the forecast period 2022 to 2030.
Blood cancer diagnostics is a method which helps to identify different proteins, biomarkers and some signs from the blood cells with the help of blood tests that result in the identification of the existence of a cancerous tumour in a human body. Efficient Diagnostic testing is used in validating a ruling out the presence of illness, screening the progression of the disease and scheduling and reviewing the outcome of the treatment. Diagnostic procedures for cancer are mainly tumour biopsy, imaging, endoscopic examination, laboratory tests, genetic testing, or surgery.
Impact of COVID 19 On Global Blood Cancer Diagnostics Market
With the onset of COVID 19 pandemic, many countries across the world has declared a public emergency. In fact, the pandemic has touched every element of cancer research and care as monitoring and oncology care services in different countries globally. Moreover, different local as well as national level restriction on the movement of goods and persons imposed by private and public authorities which has severely affected the pharmaceutical products and ingredients supply chain which are hampering the growth of the market. Not only this but also the pandemic has resulted into the temporary closure of various academic institutes which has resulted into the reduction in the supply of cancer care products to the end users.
Global Blood Cancer Diagnostics Market Report Coverage
|Market Size in 2021:||USD 15.56 Billion|
|Forecast Period 2021-2030 CAGR:||6.7%|
|2030 Value Projection:||USD 16.27 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||200|
|Tables, Charts & Figures:||100|
|Segments covered:||By Test, By End User, By Region and COVID-19 Impact Analysis|
|Companies Covered:||Argon Medical Devices, Inc., B. Braun Melsungen AG, Becton Dickinson and Company (C.R. Bard, Inc.), Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical, Inc., Danaher Corporation (Leica Microsystem), Fujifilm Holdings Corp., Hologic, Inc., Medtronic plc|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Key Driving Factors
The expansion of the blood cancer industry is driven by the rise in the use of microRNA treatment, the increasing use of nanoma medicine platforms and the launch of safe as well as effective therapeutics. With the use of monoclonal antibodies and histone deacetylase inhibitors to the current therapies array, the market is going to witness the significant growth. Due the the popular clinical profile, clinicians prefer biologic therapy with the monoclonal antibodies like empliciti and darzlex. Apart from this, the increasing prevalence of blood cancer across the world is likely to boost the overall growth of the blood cancer market. Blood cancer is a type of haematological cancer which is triggered by various genetics defects. This disease can be treated with medicines that modify the immune system of the human body and help in improving the efficacy of radiation therapies, chemotherapies, platelet transfusions, and stem cell transplants. Moreover, the growth of the blood cancer market is driven by the increasing investment made by the key market players which helps to improve the infrastructural development. Not only this but also different government organisations aim to boost the Healthcare infrastructure by providing sufficient fund which will improve the market growth.
Low cost treatment rates in developing economies due to the high cost associated with the treatment of blood cancer will hamper the growth of the market. Further mode the lack of skilled professional and the proper Healthcare infrastructure in developing countries will also restrain the Global blood cancer market.
Test Type Insights
Liquid biopsy test segment to propel the market growth over the forecast period
On the basis of test, the global blood cancer market is segmented into CBC Tests, CTC Tests, Liquid Biopsy, Blood Protein Testing, Bone Marrow Biopsy. Among these, the liquid biopsy test segment holds the largest market share and is dominating the market over the forecast period. It has been witness that liquid biopsy Diagnostic procedure is one of the most preferred and has gained lot of popularity over the past few years.
End User Insights
Hospital Associated Labs is dominating the market over the forecast period
On the basis of end use, the global blood cancer market is segmented into Hospital Associated Labs, Independent Diagnostic Laboratories, Cancer Research Institutes, Others. Among tyhese, the Hospital Associated Labs are dominating the market and are going to continue the dominance over the upcoming years. The main reason behind the growth of the segment are the rise in the number of patients visiting hospitals, the increasing number of in-house Diagnostic methods performed in hospitals, and increasing awareness related to early diagnosis.
North America is dominating the market with the largest market share over the forecast period
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North America is dominating the blood cancer market among all other regions due to the increasing prevalence of blood cancer as well as the increasing geriatric population. In addition, the rise in the demand for biologic therapist and the unhealthy lifestyle led by people will drive the overall growth of North American region.
Asia Pacific on the other hand is expected to witness the fastest market growth because of the rising introduction of cancer drugs as well as huge investment made by the key market players in the field of Healthcare. Moreover, the increasing government initiative will also continue to propel the market growth.
Recent Market Developments
- In September 2021, NHS has made an announcement about the launch of world’s largest trial of blood test which has the ability to detect over 50 cancer types before their symptoms tend to appear.
- In July 2021, Burning Rock Biotech Limited has made an announcement about the launch of first ever blood based pan cancer study done in China.
List of Key Companies
- Argon Medical Devices, Inc.
- B. Braun Melsungen AG
- Becton Dickinson and Company (C.R. Bard, Inc.)
- Boston Scientific Corporation
- Cardinal Health, Inc.
- Cook Medical, Inc.
- Danaher Corporation (Leica Microsystem)
- Fujifilm Holdings Corp.
- Hologic, Inc.
- Medtronic plc
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Blood Cancer Diagnostics Market based on the below-mentioned segments:
Blood Cancer Diagnostics Market, Test Analysis
- CBC Tests
- CTC Tests
- Blood Protein Testing
- Liquid Biopsy
- Bone Marrow Biopsy
Blood Cancer Diagnostics Market, End User Analysis
- Hospital Associated Labs
- Independent Diagnostic Laboratories
- Cancer Research Institutes
Blood Cancer Diagnostics Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of Blood Cancer Diagnostics Market?The global Blood Cancer Diagnostics Market is expected to grow from USD 15.56 Billion in 2021 to USD 16.27 Billion by 2030, at a CAGR of 6.7% during the forecast period 2022-2030.
2. Who are the key market players of Blood Cancer Diagnostics Market?Some of the key market players of Blood Cancer Diagnostics Market are Argon Medical Devices, Inc., B. Braun Melsungen AG, Becton Dickinson and Company (C.R. Bard, Inc.), Boston Scientific Corporation, Cardinal Health, Inc., Cook Medical, Inc., Danaher Corporation (Leica Microsystem), Fujifilm Holdings Corp., Hologic, Inc., and Medtronic plc.
3. Which segment hold the largest market share?Needle based biopsy guns hold the largest market share is going to continue its dominance.
4. Which region is dominating the Blood Cancer Diagnostics Market?North America is dominating the Blood Cancer Diagnostics Market with the highest market share.
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