May 26, 2024

Leukemia Screening Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2031

The leukemia screening market consists of diagnostic techniques and tools used for screening leukemia disease. Leukemia refers to cancer of the blood or bone marrow which affects production of blood cells. The screening techniques help in early detection of leukemia which increases chances of effective treatment. With rising adoption of advanced screening tools such as flow cytometry, polymerase chain reaction, and immunohistochemistry, the accuracy of diagnosis has improved tremendously. Early screening prevents disease progression and enables customization of treatment as per cancer stage.

The global Leukemia Screening Market is estimated to be valued at US$ 7.28 Bn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/leukemia-screening-market-5859

Market key trends:

One of the major trends in the leukemia screening market is increasing adoption of advanced screening technologies. Tools such as next-generation sequencing enable detection of genetic mutations linked to leukemia. This helps in disease prognosis and selection of targeted therapies. Moreover, development of assays for detection of minimal residual disease is another key trend. Such assays aid in post-treatment monitoring and facilitate timely intervention if cancer reoccurs. Rising R&D investments by industry players for development of novel biomarkers is also boosting market growth. This is anticipated to expand screening applications and benefit patients.

Porter’s Analysis

Threat of new entrants: The risk of new entrants is low as the market requires high capital investments and is dominated by a few large players.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are many screening options available from various manufacturers.

Bargaining power of suppliers: The bargaining power of suppliers is low as the required raw materials and components are available from numerous sources.

Threat of new substitutes: The threat of new substitutes is low as screening tests for leukemia is highly specialized with no close substitutes.

Competitive rivalry: The competition in the market is high among the top players to gain more market share.

Key Takeaways

The global leukemia screening market is expected to witness high growth. The market size for 2024 is projected to reach US$ 7.28 Bn, indicating a CAGR of 7.0% during the forecast period of 2023 to 2030.

Regional analysis: North America is currently dominating the market and is expected to maintain its lead over the forecast period. Presence of major players and advanced healthcare infrastructure are driving the regional market.

Key players:

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., QIAGEN N.V., Beckman Coulter, Inc., Adaptive Biotechnologies Corporation, Invivoscribe, Inc., and ArcherDX, Inc.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it