Hematology Oncology Market is estimated to be US$ 6.57 billion by 2030 with a CAGR of 11.5% during the forecast period

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Published Date: May 2023

Hematology Oncology Market accounted for US$ 2.21 billion in 2020 and is estimated to be US$ 6.57 billion by 2030 and is anticipated to register a CAGR of 11.5%. Hematological oncology play an important role in the detection and treatment of cancers of the bone marrow, blood, and lymph nodes. The COVID-19 pandemic has disrupted the most critical parts of the oncology pharmaceuticals business by disrupting clinical studies and drug delivery to patients. The pandemic has had a direct impact on cancer patients' access to oncology drugs; not only is it difficult to administer chemotherapy and other treatments outside of a clinic, but the spread of coronavirus has reduced patients' willingness and ability to access not only treatments, but also clinical trials for new medicines.

The report " Global Hematology Oncology Market, By Hematology Product (Hematology Analyzers, Hematology Reagents, Flow Cytometers, Hematology Cell Counters, Slide Strainers, Coagulation Analyzers, Hematology Testing, Centrifuges, Hemoglobin meters, Others), By Oncology Drug Class Type (Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy), By Oncology Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, Others), By Applications (Infectious Diseases, Cancer, Cardiovascular Disorders, Blood Screening, Diabetes, HIV, Auto – Immune Diseases), By End Users (Hospitals, Clinical Testing Institutes, Patient Self- Testing, Other End- Users) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030’’

Key Highlights:

Monash University scientists developed a new blood test that aids in the identification of myeloma in August 2019. This is a liquid biopsy test that is more accurate than the conventional bone marrow biopsy and is less invasive.
Adaptive Biotechnologies and AbbVie cooperated in December 2019 to employ Adaptive's NGS-based minimal residual disease diagnostics in multiple myeloma medication studies. AbbVie will use Adaptive's clonoSEQ assay to access the MRD status across numerous clinical studies, according to the agreement. The partners want to use clonoSEQ to assess the duration and depth of Venetoclax response in order to monitor and measure MRD negativity.

Analyst View:

Increased cancer prevalence and incidence of various cancer disorders, as well as increased popularity of advanced therapies (biological and targeted medication therapies) and an increase in the global elderly population. Furthermore, increased cancer awareness and early cancer screening contribute to the growth of the oncology medications industry. However, the high costs associated with new medication development, as well as the risk of failure and side effects associated with cancer treatment therapies, are limiting the market's expansion. Conversely, during the projected period, the high potential of rising economies and the greater number of prospective medications in the pipeline are expected to provide profitable prospects.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on “*Global Hematology Oncology Market, By Hematology Product (Hematology Analyzers, Hematology Reagents, Flow Cytometers, Hematology Cell Counters, Slide Strainers, Coagulation Analyzers, Hematology Testing, Centrifuges, Hemoglobin meters, Others), By Oncology Drug Class Type (Chemotherapy, Targeted Therapy, Immunotherapy, Hormonal Therapy), By Oncology Indication (Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, Others), By Applications (Infectious Diseases, Cancer, Cardiovascular Disorders, Blood Screening, Diabetes, HIV, Auto – Immune Diseases), By End Users (Hospitals, Clinical Testing Institutes, Patient Self- Testing, Other End- Users) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”

Key Market Insights from the report:

Global Hematology Oncology Market accounted for US$ 2.21 billion in 2020 and is estimated to be US$ 6.57 billion by 2030 and is anticipated to register a CAGR of 11.5%. The Global Hematology Oncology Market is segmented based on Hematology Product, Oncology Drug Class, Oncology Indication, Application, End-User and region.

Based on Hematology Product, Global Hematology Oncology Market is segmented into Hematology Analyzers, Hematology Reagents, Flow Cytometers, Hematology Cell Counters, Slide Strainers, Coagulation Analyzers, Hematology Testing, Centrifuges, Hemoglobin meters, Others.
Based on Oncology Drug Class, Global Hematology Oncology Market is segmented into Chemotherapy, Targeted Therapy, Immunotherapy, and Hormonal Therapy.
Based on Oncology Indication, Global Hematology Oncology Market is segmented into Lung Cancer, Stomach Cancer, Colorectal Cancer, Breast Cancer, Prostate Cancer, Liver Cancer, Esophagus Cancer, Cervical Cancer, Kidney Cancer, Bladder Cancer, Others.
Based on Application, Global Hematology Oncology Market is segmented into Infectious Diseases, Cancer, Cardiovascular Disorders, Blood Screening, Diabetes, HIV, Auto – Immune Diseases.
Based on End-User, Global Hematology Oncology Market is segmented into Hospitals, Clinical Testing Institutes, Patient Self- Testing, Other End- Users.
By Region, the Global Hematology Oncology Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Hematology Oncology Market:

The key players operating in the hematology oncology market are Abbott Laboratories, Bio-Rad Laboratories, Inc., Danaher, Thermo Fisher Scientific Inc., AbbVie Inc., Astellas Pharma Inc., AstraZeneca, Bristol-Myers Squibb Company, CELGENE CORPORATION, Johnson & Johnson Services, Inc., Merck & Co., Inc., Novartis AG, Pfizer Inc., Boule, Sysmex Corporation, Beckman Coulter, Inc., F. Hoffmann-La Roche Ltd, Novo Nordisk A/S, and PerkinElmer Inc., among other domestic and global players.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period