Global 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 of cancer genetics which helps the specialist assess prognosis of their patient, select the most appropriate anticancer therapy, and monitor the response to treatment. Generally, peripheral blood lymphocyte culture is used for diagnosis of non-malignant genetic disorders. The cells are cultured in a favorable media using T lymphocyte mitogens like 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 used to improve the yield of metaphases. 

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Global Hemato Oncology Testing Market: Competitive Landscape

Hoffmann-La Roche Ltd

Hoffmann-La Roche Ltd is a prominent global biotech company that engages in the development, manufacture, marketing, and sale of biopharmaceutical products and services. The company operates through three major segments: Pharmaceuticals, Diagnostic Solutions, and Products for Researchers. F. Hoffmann-La Roche Ltd operates in more than 100 countries through a wide distribution network and its own sales team. 

Abbott Laboratories

Abbott Laboratories is a global health care solutions provider engaged in discovery, development, production, and sale of diversified health care products.

The company provides a wide range of diagnostic and medical test instruments that are used across the globe by various end-users to diagnose and monitor coagulation systems, cancer, heart diseases, and metabolic disorders; and assess other health indicators.

Abbott Laboratories is a leader in making microfluidic devices and techniques such as point-of-care diagnostics, immunoassays for blood screening, and laboratory tools. The company provides services in about 150 countries and has around 94,000 employees. 

Thermo Fisher Scientific, Inc.

Thermo Fisher Scientific is a global leader in development, manufacturing, and commercialization of life sciences products for health care, pharmaceutical & biotechnology, and life sciences industries. Thermo Fisher Scientific, Inc. operates through four segments: Specialty Diagnostics, Analytical Instruments, Life Sciences Solutions, and Laboratory Products and Services. The specialty diagnostics segment offers a wide range of instruments, kits, and reagents for customers in health care, academic institutes, and other service providers. The segment comprises clinical diagnostics, immunodiagnostics, microbiology, and other businesses. Thermo Fisher Scientific offers products and services to more than 400,000 customers across the globe.

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Global Hemato Oncology Testing Market: Dynamics

Rise in Prevalence of Lymphoma & Myeloma Cancers

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. According to the Leukemia & Lymphoma Society (LLS), around 176,200 people in the U.S. are expected to be diagnosed with leukemia, lymphoma, or myeloma in 2019. New cases of leukemia, lymphoma, and myeloma are anticipated to account for 10% of the estimated 1,762,450 new cancer cases diagnosed in the U.S. in 2019. Prevalence is the approximate number of people alive on a certain date in a population who previously had a diagnosis of the disease. An estimated 1,399,180 people in the U.S. are either living with, or are in remission from, leukemia, lymphoma, or myeloma. 

Growing Focus on Personalized Medicine

The concepts of Personalized Medicines-PM have been subtly appreciated in medicine since the 1960s with its first mention in a monograph title in 1998 and subsequent publication on the Medline interface in 1999. Advancement in genetic technologies, primarily; single nucleotide polymorphism (SNP) genotyping and microarray/biochips has been the pillar and drive toward PM. 

Global Hemato Oncology Testing Market: Segmentation

Based on product & services, the global hemato oncology testing Market can be bifurcated into:

  • Assay Kits
  • Services

 In terms of cancer, the global Hemato oncology testing market can be divided into:

  • Leukemia 
    • Acute Lymphoblastic
    • Acute Myeloid 
  • Non-Hodgkin’s Lymphoma

Based on technology, the global Hemato oncology testing market can be categorized into:

  • PCR-Polymerase Chain Reaction
  • NGS- Next-generation sequencing
  • IHC- Immunohistochemistry

In terms of end-users, the global hemato oncology testing market can be classified into:

  • Clinical Laboratories
  • Hospitals

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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