Blood Cancer Diagnostics Market To Reach $16.04 Billion By 2030

Blood Cancer Diagnostics Market Growth & Trends

The global blood cancer diagnostics market size is expected to reach USD 16.04 billion by 2030, registering a CAGR of 6.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is driven by the increasing incidence of blood malignancies, such as leukemia, lymphoma, and myeloma. The market is further expected to grow significantly due to the increasing elderly population, which is more susceptible to chronic diseases, including blood cancer. In addition, technological advancements, including NGS and other molecular diagnostic techniques, are improving the accuracy & efficiency of diagnosis, which is likely to drive the market over the forecast period.

Over the past decade, significant advancements have been made in approaches to blood cancer diagnostics, all aimed at reducing the growing incidence of diseases and their mortality. While these advancements have been well-documented to increase early cancer detection, there have been considerable advancements. For instance, NGS has enabled the analysis of the entire genome of cancer cells, providing insights into genetic mutations that guide precise diagnosis and tailored treatments. In October 2022, OGT, a Sysmex group, introduced a range of new offerings to augment its expanding NGS product suite. Notably, the SureSeq Myeloid Plus panel was designed to identify genetic mutations associated with various Myeloid disorders, enhancing the company’s capabilities in this critical area of research.

Molecular imaging techniques, such as SPECT/CT, PET, and flow cytometry, utilize molecular imaging agents to detect indicative molecular markers at different disease stages, aiding detection & monitoring. Such advancements in imaging technologies offer improved accuracy and early detection capabilities, driving the market. The global players are introducing automatic imaging tests and systems to boost their market share. For instance, in May 2023, Sysmex Corporation announced the launch of the Clinical Flow Cytometry System in Japan. The system includes Flow Cytometer XF-1600, Sample Preparation System PS-10, antibody reagents, and other related products. This system enables laboratories to automate the entire process of flow cytometry testing, from sample preparation to the reporting of measurement results, contributing to higher efficiency & testing standardization.

Governments across the world have recognized the immense healthcare burden posed by rising incidences, including hematological malignancies such as leukemia & lymphoma. In response, many countries have launched comprehensive national cancer control programs that prioritize early detection and screening efforts. For instance, the American Association of Cancer Research recently launched the Beau Biden Cancer Moonshot initiative to accelerate cancer research and make preventive screening more accessible & affordable for U.S. citizens.

Some of the key players in the market are Illumina, InVivoScribe, Ipsogen (Qiagen), Asuragen(Bio-Techne), Danaher Corporation, Abbott, SkylineDx, Adaptive Technologies, Bio-Rad Laboratories and others. These players are involved in various strategic initiatives such as product launch and approval in order to cater to a global clientele. For instance, in September 2023, Adaptive Technologies launched Epic integration for clonoSEQ, a molecular diagnostic test for MRD monitoring in blood cancers. This integration allows healthcare providers to order and review clonoSEQ test results directly within Epic's EHR system, streamlining clinical decision-making and improving patient care. 

 Request a free sample copy or view report summary: Blood Cancer Diagnostics Market Report

Blood Cancer Diagnostics Market Report Highlights

• Based on product, the assay kits and reagents accounted for the largest revenue share of the blood cancer diagnostics market in 2023. This high share is attributable to assay kits & reagents being designed to detect specific biomarkers, genetic mutations, and other indicators, enabling healthcare professionals to diagnose & treat the disease more effectively

• Based on tests, blood tests segment dominated the market and accounted for the largest share in 2023. This can be attributed to increasing innovation and availability of blood test kits for blood cancer detection

• Based on end use, hospitals and clinics dominated the market with the largest share of blood cancer diagnostics market in 2023. This is attributable to growing demand in forensic labs and hospital medical labs for disease diagnosis, blood cell counts, blood typing. Furthermore, Developments in hospital laboratories are crucial to address the evolving needs of patients, and more hospitals aim to provide a wide range of services in their settings

• North America dominated the market due to the presence of a large number of major market players, North America has a high prevalence of chronic diseases like leukemia These diseases require regular monitoring and diagnostic testing, fueling the demand for advanced diagnostic tools and technologies

• Asia Pacific is expected to witness the fastest growth over the forecast period from 2024 to 2030, due to the presence of manufacturers with innovative devices manufacturing capabilities coupled with accelerated diagnostic research capabilities

Blood Cancer Diagnostics Market Segmentation 

Grand View Research has segmented the global blood cancer diagnostics market based on product, test, end use, and region:

Blood Cancer Diagnostics Product Outlook (Revenue, USD Million, 2018 - 2030)

• Instruments

• Assay Kits and Reagents

Blood Cancer Diagnostics Test Outlook (Revenue, USD Million, 2018 - 2030)

• Blood Tests

• Imaging Tests

• Biopsy

• Molecular Test

Blood Cancer Diagnostics End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals and Clinics

• Diagnostic Labs

• Research Institutes

Blood Cancer Diagnostics Regional Outlook (Revenue in USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Sweden

  • Denmark

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

  • Kuwait

List Of Key Players in The Blood Cancer Diagnostics Market

• Abbott

• Illumina

• InVivoScribe

• Ipsogen (Qiagen)

• Asuragen(Bio-Techne)

• Danaher Corporation

• Sequenta (Adaptive biotechnologies)

• SkylineDx

• Bio-Rad Laboratories

• Alercell

• Sophia Genetics