by The global Leukemia Screening Market is estimated to be valued at US$ 17.04 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Leukemia screening involves diagnostic tests such as complete blood count (CBC), blood smear examination, flow cytometry, cytogenetic testing, molecular testing and immunophenotyping to detect abnormalities in the bone marrow, blood and lymph nodes indicating leukemia. Leukemia is a type of blood cancer that develops from the bone marrow and results in an abnormal production of white blood cells. Early detection of leukemia through screening tests is crucial for effective treatment.
Market key trends:
One of the key trends in the leukemia screening market is growing adoption of immunophenotyping assays. Immunophenotyping is an important technique used to determine the specific type of leukemia. It involves using monoclonal antibodies that bind to unique proteins called antigens on the surface of leukemia cells. This provides important information about the type and subtype of leukemia. Advancements in immunophenotyping such as multi-parametric flow cytometry panels have increased diagnostic accuracy and efficiency of leukemia screening. Growing preference for minimally invasive testing procedures is also expected to drive the leukemia screening market during the forecast period.
Porter’s Analysis
Threat of new entrants: The leukemias screening market requires high capital investment in R&D for developing new tests or technologies which creates barrier for new players to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power in this market as there are many established as well as emerging players offering screening tests for leukemias.
Bargaining power of suppliers: Suppliers having specialized equipment and reagents enjoy higher bargaining power.
Threat of new substitutes: Technological advancements may lead to new substitutes with improved efficiency and cost effectiveness.
Competitive rivalry: Intense as major players compete in innovation and portfolio expansion.
Key Takeaways
Global Leukemia Screening Market Size is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing prevalence of leukemia worldwide. The market size for 2023 is estimated to be US$ 17.04 Bn.
Regionally, North America is expected to dominate the leukemia screening market during the forecast period. This is attributed to growing geriatric population, higher adoption of advanced screening tests for early diagnosis, and well-established healthcare infrastructure in the region.
Key players operating in the leukemia screening market are F. Hoffmann-La Roche Ltd, Abbott Laboratories, Thermo Fisher Scientific Inc., Sysmex Corporation, Bio-Rad Laboratories, Inc., Illumina, Inc., QIAGEN N.V., Grifols, S.A., Siemens Healthineers AG, Agilent Technologies, Inc., Ortho Clinical Diagnostics, Biocept, Inc., Adaptive Biotechnologies Corporation, Invivoscribe, Inc., ArcherDX, Inc. Major players are focusing on new product launches, approvals, partnerships and strengthening their distribution networks to gain competitive advantage in the market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
