Global Hematology Market: Snapshot
The strides in the global hematology market have been catalysed by multiple distinct factors. Advances in diagnostic technologies for hematologic malignancies and automation in devices have helped address current and emerging needs of patients in the hematology market. Over the past few years, new paradigms in medicine and health care have increasingly broadened the market potential. Hematology care encompassed by oncology, immunology, and molecular biology is opening new avenues in the hematology market. A case in point is through understanding of hematopoietic stem cells.
An understanding of success of specific treatments for haematological disorders has further quality of care in the hematology market. Advances in cancer immunotherapy protocols play crucial role in shaping the contours of the market.
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Global Hematology Market: Notable Developments
Recent spate of research has shed light on various types of risks for hematologic malignancies. Of these, familial relative risk (FRR) has been drawing the attention of researchers, which might pave way for new avenues in the hematology market. A recent study obtained 153,115 records of hematologic malignancies through Swedish Family-Cancer Database over nearly 70 years from 1958 to 2015. The researchers measured familial relative risks in the patients. The study highlighted some interesting results. FRR was higher in certain tumor types, in conditions when multiple relatives of individuals were affected, particularly when first-degree relatives were affected. Also the FRR was higher when relatives were diagnosed with myeloid malignancies at an earlier age.
The results have gained significance in the hematology market to devise appropriate diagnostic modules and identification of high-risk patients. This will boost awareness about the familial risks among patients and their families and clinicians.
Some of the prominent key players in the hematology market are:
- Thermo Fisher Scientific Inc.
- Fluidigm Corporation
- F.Hoffmann-La Roche AG
- Danaher Corporation
- Bio-Rad Laboratories Inc.
- Agilent Technologies Inc.
- Abbott Laboratories
Global Hematology Market: Growth Dynamics
Blood disorders are a substantial health and economic burden in worldwide populations. Growing prevalence of common blood disorders such as anaemia particularly among women, and haemophilia has been driving clinical advances in the hematology market. Prevalence of certain blood cancer in developed countries is also bolstered awareness for hematology testing. Increasing inclination of hematology care providers in automating testing technologies has opened lucrative avenues for device manufacturers, notably in emerging economies. Growing incidence of genetic blood disorders is also boosting the hematology market.
Over the years, interested stakeholders in the hematology market have benefitted from advances in understanding the biology of hematopoietic stem cells. An expanding cancer immunotherapy protocols have also expanded the potential of the market. Emerging area of induced pluripotent stem (iPS) cells will likely open new doors of opportunities in the not-so-distant future.
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The advent of instruments that help clinicians measure patient-reported outcomes (PRO) has taken the quality of care in the hematology market to a new trajectory. These outcomes are of vital prognostic value as they enable clinicians to incorporate patients’ perspective in the treatment process. PRO assessments are gathering steam in clinical trials as well as clinical practice.
Global Hematology Market: Regional Analysis
Among the various regions, North America has been showing vast revenue generating potential. Rising concern of blood-related disorders, notably in the U.S., and constant research for developing cutting-edge instruments have reinforces the prospects of the region in the hematology market. Meanwhile, Europe and Asia Pacific are potentially promising regional markets, with the latter showing considerable appetite for growth. Growing awareness of hematologic disorders and improving oncology care are aspects augmenting the prospects of the regional market. Advances made in transplant biology and immunology in Europe will help open numerous lucrative avenues in the region in the coming few years.
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
- 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.