Medical organizations as well as leaders in the global pharmaceuticals industry are stepping up their efforts towards development of profound diagnosis for blood cancer. Rising number of deaths caused by blood cancer is taking a toll on governments as people are demanding precision diagnosis and a cure-all for this terminal disease. In a bid to adapt to the urban rat race, millions of consumers have adopted lifestyles that are stemming the occurrence of blood cancer. For public administration authorities, compelling people to avoid such lifestyles is like challenging the status quo. The burden of controlling the incidence of blood cancer gets passed on to hospitals & medical research organizations as they strive to develop novel diagnostic and therapeutic procedures.
Owing to a myriad factors such as inadequate physical activities, unhealthy food habits as well as surge in alcohol consumption, blood cancer continues to endanger public health with growing prevalence round the globe. Besides genetic factors, the aforementioned factors remain major contributing factors for the growing burden of blood cancer. Several active government initiatives pertaining adequate reimbursement and increased spending towards healthcare are likely to underpin growth in blood cancer diagnostics market in the coming years.
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In a recent development in blood cancer diagnostics space, several researchers have affirmed the potency of a new test that confirms blood cancer with the aid of blood sample. The test detects chromosomal abnormality in blood which is used as a parameter to assess symptoms of leukemia, one of the most common types of blood cancer. Additionally, optimum efforts towards development of monoclonal antibodies that detect types of proteins found on the cancer cells are new diagnostic means to detect blood cancer.
Fact.MR’s report offers market analysis and forecast on the global blood cancer diagnostics market on the basis of test type. Liquid biopsy is another test type that remains widely used among end-users. Studies have shown that liquid biopsy can overcome challenges related to intra- and inter-tumor heterogeneity. The research was carried out at Harvard Medical School and Massachusetts General Hospital Cancer Center. Inclusion of liquid biopsy can help in identifying resistance alternations in patients with advanced cholangiocarcinoma. On account of growing preference for liquid biopsy, this segment is projected to increase at a CAGR of over 10% through 2022.
Blood Cancer Diagnostics Market: Competition Spectrum
Key participants contributing to the growth of blood cancer diagnostics market have been aptly identified and profiled in the report. A SWOT analysis of all the mentioned entities has been entailed, besides an assessment of their respective product portfolios, company profile, and recent developments.
The key companies profiled in Fact.MR’s research include Abbott Laboratories, Roche Holding A.G., Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, Luminex Corporation, Myriad Genetics Inc., NanoString Technologies Inc, NeoGenomics Laboratories, Inc., Siemens AG, Quest Diagnostics Incorporated, Qiagen N.V., Agilent Technologies, Biotheranostics, Inc, Almac Group Limited, and GeneNews Limited.
Overall, the global blood cancer diagnostics market is anticipated to witness steady growth through 2022. The market will continue to be influenced by regulatory policies and guidelines.
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