Blood Cancer Diagnostics Market to hit USD 22.2 billion by 2032, says Global Market Insights Inc.

Selbyville, Delaware, Nov. 21, 2024 (GLOBE NEWSWIRE) —

Blood Cancer Diagnostics Market size was valued at approximately USD 12.4 billion in 2023 and is projected to grow at a CAGR of 6.8% between 2024 and 2032. Blood cancer diagnostics encompasses various tests and procedures designed to diagnose, detect, and monitor cancers affecting the bone marrow, blood, and lymphatic system.

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One of the primary drivers of market growth is the rising incidence of blood cancers worldwide. As more individuals receive diagnoses for conditions like leukemia, lymphoma, and myeloma, the demand for effective diagnostic tools has surged. This increase in prevalence can be attributed to several factors, including an aging population, genetic predispositions, and environmental influences.

The blood cancer diagnostics market is segmented by test type, including molecular tests, blood tests, imaging tests, and biopsies. Blood tests represent a substantial portion of the market, accounting for around USD 4.7 billion in 2023. These tests are a cornerstone in the early detection and monitoring of blood cancers due to their affordability and quick turnaround time, making them a favored option among healthcare professionals.

Additionally, the blood cancer diagnostics market is categorized by end-use, comprising hospitals, diagnostic laboratories, imaging centers, and cancer research institutes. The hospital segment is expected to reach USD 9 billion by 2032. Hospitals are increasingly incorporating advanced diagnostic technologies to enhance the precision and speed of blood cancer detection. This trend is fueled by significant investments in cutting-edge diagnostic equipment and a strong focus on early detection and personalized treatment strategies. The integrated healthcare systems found in hospitals facilitate efficient patient management and coordinated care across multiple departments, further solidifying their crucial role in blood cancer diagnostics.

In the United States, the blood cancer diagnostics market is anticipated to grow to approximately USD 9.4 billion by 2032. There is a notable emphasis on early detection and prevention of blood cancers, with healthcare providers and government entities advocating for routine screenings and early diagnoses. This proactive approach improves patient survival rates while driving demand for diagnostic tests and technologies, boosting the regional market growth. Furthermore, both public and private investments to enhance the infrastructure to support blood cancer diagnosis and treatment contribute significantly to revenue growth in this sector.

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Major players in blood cancer diagnostics market include Abbott Laboratories, Alercell, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Bio-Techne Corporation, Danaher Corporation, F. Hoffmann-La Roche Ltd, GE HealthCare Technologies Inc., HORIBA, Ltd., Illumina, Inc., Invivoscribe, Inc., QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific Inc. among others.

Partial Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Market scope & definitions

1.2    Research design

1.2.1    Research approach

1.2.2    Data collection methods

1.3    Base estimates & calculations

1.3.1    Base year calculation

1.3.2    Key trends for market estimation

1.4    Forecast model

1.5    Primary research and validation

1.5.1    Primary sources

1.5.2    Data mining sources

Chapter 2   Executive Summary

2.1    Industry 360⁰ synopsis

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Industry impact forces

3.2.1    Growth drivers

3.2.1.1    Rising prevalence of blood cancer

3.2.1.2    Advancements in cancer diagnostic technologies

3.2.1.3    Growing awareness and early screening programs

3.2.2    Industry pitfalls & challenges

3.2.2.1    High cost of advanced diagnostics

3.2.2.2    Stringent regulatory scenario

3.3    Growth potential analysis

3.4    Regulatory landscape

3.5    Technology landscape

3.5.1    Core technologies

3.5.2    Adjacent technologies

3.6    Future market trends

3.7    Gap analysis

3.8    Porter’s analysis

3.9    PESTLE analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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