FREMONT, Calif., Jan. 13, 2021
FREMONT, Calif., Jan. 13, 2021 /PRNewswire/ -- The premium market intelligence report published by BIS Research on the title Global MRD Testing Market highlights that the market is projected to reach $1.61 billion by 2025. The study also highlights that the market is set to witness a CAGR of 15.64% during the period between 2020 and 2025. The growth is aided by factors including increasing research funding from the National Cancer Institute and rising incidence of hematologic malignancies, among others.
Minimal residual disease (MRD) testing is an evolving testing regimen that has been driving initiatives in the management of hematological malignancy patients. It is currently one of the fastest-growing markets under the molecular diagnostics umbrella. MRD testing promises the integration of evolutionary molecular technologies into hematological malignancy care regimens, thereby driving tremendous growth in the overall hematological malignancies testing market.
The detailed study is a compilation of 12 Market Data Tables and 196 Figures spread through 262 Pages and in-depth TOC on "Global MRD Testing Market"
The comprehensive study covers the following:
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View the Report from BIS Research: Global MRD Testing Market
The premium market intelligence by BIS Research additionally throws a spotlight on the opportunities existing in the market, such as the potential long-term cost savings, increasing market access in the emerging economies, and technological evolution of testing, among others.
To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include types of technologies used, application areas, end users, and regions. The application and the region segment have been further sub-segmented to offer an in-depth analysis of the global MRD testing market.
The technology and ecosystem analysis of the global market include data analysis on the satisfaction level of different pricing analysis of preferred assays and panels. Pertaining to the market segmentation, the technology segment is segmented into flow cytometry, polymerase chain reaction (PCR), next-generation sequencing (NGS), and other technologies. The application segment has been segmented into hematologic malignancies and solid tumors.
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Hematologic malignancies have been further sub-segmented into non-Hodgkin's lymphoma, multiple myeloma, acute lymphoblastic leukemia, chronic lymphocytic leukemia, acute myeloid leukemia, chronic myeloid leukemia, Hodgkin's lymphoma, and other leukemia. Further, the end user segment has been further segmented into specialty clinics and hospitals, diagnostic laboratories, research institutions, and other end users.
Emphasizing the dominance of the North America region in the global MRD testing market, Nitish Kumar Singh, Lead Analyst – BIS Research states, "In North America, several emerging and legacy diagnostics manufacturers are focusing on expanding their MRD testing product portfolio and are actively involved in developing products based on new technologies to offer reliable clinical outcomes, particularly for patients suffering from hematologic malignancies. Moreover, the recent FDA-approvals received by clonoSEQ and Signatera have revolutionized the utilization of NGS for MRD analysis, as these companies now look to enter international markets."
Key insights are drawn from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The key players profiled in the report include ICON plc, ArcherDX, Inc., ARUP Laboratories, ASURAGEN INC., Cergentis B.V., Bio-Rad Laboratories, Inc., Mission Bio, Inc. Guardant Health, Invivoscribe, Inc., Laboratory Corporation of America Holdings, Inivata Ltd., Natera, Inc., NeoGenomics Laboratories, Inc., Opko Health, Inc., Quest Diagnostics Incorporated, and Sysmex Corporation.
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