The Global Hematologic Malignancies Testing Market size was valued at USD 1.95 Billion in 2019 and is expected to reach USD 5.45 Billion by 2027 at a CAGR of 14.6%.

Vancouver, BC -- (SBWire) -- 12/22/2020 --The global Hematologic Malignancies Testing Market is forecasted to be worth USD 5.45 Billion by 2027, according to a current analysis by Emergen Research. The rapid growth of the global market for Hematologic Malignancies Testing can be attributed to the rising prevalence of Leukemia and Multiple myeloma. 10% of all hematologic cancers are due to multiple myeloma. It is estimated that about 12,830 deaths from multiple myeloma (7,190 in men and 5,640 in women) will happen in 2020. Besides, increasing awareness among patients and healthcare professionals about the initial diagnosis of Hematologic Malignancies is anticipated to stimulate growth over the forecasted timeframe. Furthermore, the rising emphasis on personalized medicine is also expected to drive the market growth of global Hematologic Malignancies Testing. This procedure can be used in a very particular way to identify and diagnose disorders, classifying those through hereditary variance instead of by symptoms. This encourages more precise and efficient therapies, strengthening the prognosis of patients.

Key participants include ArcherDx, Inc., Bio-Rad Laboratories, Inc., Sysmex Corporation, Invitae Corporation, NeoGenomics Laboratories, Inc., Abbott Laboratories, Cancer Genetics Inc., Adaptive Biotechnologies Corporation, Asuragen, Inc., and Invivoscribe, Inc. among others.

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Market Drivers
Market expansion can be attributed to the escalating incidences of cancers over the world. The growing awareness about early diagnosis of cancer among the healthcare practitioners and patients is further anticipated to drive the industry growth. The ever increasing prevalence of cancers such as leukaemia and multiple myeloma is anticipated to drive the growth of the industry. Moreover, the advancement in the research and development activities to augment the diagnosis of hematologic malignancies is anticipated to drive the growth of the industry.

Product Outlook (Revenue, USD Billion; 2017-2027)
- Services
- Kits

Technology Outlook (Revenue, USD Billion; 2017-2027)
- Polymerase Chain Reaction
- Immunohistochemistry
- Next-generation sequencing
- Fluorescence in situ hybridization

Disease Outlook (Revenue, USD Billion; 2017-2027)
- Multiple myeloma
- Myelodysplastic syndrome
- Leukemia
- Myeloproliferative neoplasms
- Lymphoma

End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Research Institutions
- Hospitals
- Specialty Clinics
- Laboratories

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Regional Analysis
North America commanded the growth of the industry in 2019 and is predicted to retain its lead over the projected years attributable to the cutting edge healthcare facilities and the availability of favourable reimbursement and government policies. The presence of the prominent players in the area is anticipated to drive regional growth. The Asia Pacific is anticipated to contribute to the industry's largest share due to increasing healthcare expenditure, advancement in early diagnosis, and viable treatment approaches and accessibility to healthcare amenities in the developing economies.

The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Hematologic Malignancies Testing industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Hematologic Malignancies Testing market across different regions?
- Who are the major driving forces expected to decide the fate of the industry worldwide?
- Who are the prominent market players making a mark in the Hematologic Malignancies Testing market with their winning strategies?
- Which industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Hematologic Malignancies Testing market?

To identify the key trends in the industry and read full summary click on the link: https://www.emergenresearch.com/industry-report/hematologic-malignancies-testing-market

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