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Leukemia screening involves the use of various techniques such as complete blood count, bone marrow biopsy, and cytogenetic tests to detect the presence of leukemia. These screening techniques help identify the different types of leukemia such as acute myeloid leukemia, acute lymphocytic leukemia, chronic myeloid leukemia, and chronic lymphocytic leukemia. Leukemia is a type of cancer that develops in the blood-forming tissues of the bone marrow and results in an abnormal increase of immature white blood cells known as blasts. The global leukemia screening market provides laboratories as well as point of care facilities with advanced screening tools that help in precise diagnostics and timely treatment of leukemia.
The global Leukemia Screening Market is estimated to be valued at US$ 7.28 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the leukemia screening market is the increasing adoption of next-generation sequencing (NGS) screening techniques. NGS allows for simultaneous screening of multiple genes associated with leukemia development through whole genome or targeted gene panels. This helps in detecting genetic abnormalities with high accuracy. For instance, Thermo Fisher Scientific provides the Ion AmpliSeq inherited disease panel that screens 59 genes associated with various types of leukemia. Advancements in sequencing technologies are expected to further drive the adoption of NGS-based leukemia screening. Another major trend is the development of screening techniques using artificial intelligence (AI). Companies are combining AI algorithms with genomic and clinical data to identify genetic signatures and biomarkers related to leukemia. This aids in early and reliable detection of disease recurrence and monitoring treatment responses over time.
Porter’s Analysis
Threat of new entrants: Low economies of scale and high production costs pose a barrier for new entrants in the leukemia screening market. Regulatory approvals also present a hurdle.
Bargaining power of buyers: The presence of numerous tests and advanced technologies give buyers bargaining power through various options.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the proprietary nature of screening tests and technologies.
Threat of new substitutes: New therapies for leukemia present a potential threat, though screening helps monitor and manage the disease better.
Competitive rivalry: Fierce competition exists among established players investing in innovations to gain market share.
Key Takeaways
The global leukemia screening market is expected to witness high growth over the forecast period driven by growing diagnosis rates. The market size for 2023 is estimated to be US$ 7.28 Bn.
Regional analysis: North America holds the major share of the leukemia screening marketCurrently due to advanced healthcare systems and increasing testing. However, Asia Pacific is likely to witness rapid growth with improving access to diagnosis in major countries.
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. These companies are focused on technology advancements to enhance testing efficiencies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
