Blood Cancer Diagnostics Market - By Product, By Test Type, By Cancer Type, By End-use - Global Forecast, 2024 – 2032

Blood Cancer Diagnostics Market Size

The global blood cancer diagnostics market size was valued at around USD 12.4 billion in 2023 and is estimated to grow at a CAGR of 6.8% from 2024 to 2032. Blood cancer diagnostics refers to the range of tests and procedures used to detect, diagnose, and monitor cancers that affect the blood, bone marrow, and lymphatic system.
 

The increasing incidence of blood cancer globally is a significant catalyst for the market. With more people being diagnosed with blood cancers such as leukemia, lymphoma, and myeloma, there is a heightened demand for diagnostic tools to detect these conditions early and accurately. The rising prevalence is attributed to various factors, including aging populations, genetic predispositions, and environmental influences. For instance, according to the Leukemia & Lymphoma Society, approximately every 3 minutes, one person in the U.S. is diagnosed with leukemia, lymphoma, or myeloma. An estimated combined total of 184,720 people in the U.S. were expected to have been diagnosed with these conditions in 2023. Therefore, as more cases emerge, healthcare providers and laboratories are under pressure to offer precise diagnostic solutions, propelling advancements and expansion in the market.
 

Furthermore, increased awareness of blood cancers and the importance of early detection are key accelerators of the blood cancer diagnostics market. Public health campaigns have led to increasing awareness, encouraging participation in regular screenings. Early screening programs, often backed by government and non-profit organizations, help detect blood cancers at more treatable stages, driving demand for diagnostic tests and technologies and boosting market growth.
 

Blood Cancer Diagnostics Market Trends

• Technological innovations in cancer diagnostics have greatly enhanced the ability to detect blood cancers at earlier stages, thereby improving patient outcomes. Cutting-edge techniques such as next-generation sequencing (NGS), flow cytometry (which is estimated to reach USD 11.2 billion by 2032), liquid biopsy, and advanced imaging methods have revolutionized the diagnostic landscape.
   
• These technologies provide more detailed and accurate insights into the genetic and molecular profiles of blood cancers, facilitating personalized treatment plans.
   
• Moreover, the continuous development and integration of these advanced diagnostic tools are pivotal in stimulating market growth, as they meet the growing need for precise and efficient cancer detection.
   

Blood Cancer Diagnostics Market Analysis

Based on product, the market is divided into instruments and assay kits & reagents. The assay kits and reagents segment of the market is forecasted to reach USD 13.4 billion by 2032.
 

• Assay kits and reagents are essential components in diagnostic procedures, offering high precision and reliability in detecting specific biomarkers associated with blood cancers. The increasing demand for accurate and early diagnosis, coupled with advancements in molecular diagnostics, has led to the widespread adoption of these kits and reagents in clinical laboratories and research settings.
   
• Additionally, as healthcare providers seek to enhance diagnostic capabilities, the demand for assay kits and reagents is expected to increase due to their routine use in blood testing (such as complete blood count) and specialized diagnostic assays (such as flow cytometry, PCR, and FISH) that are performed to diagnose different types of blood cancers and understand their genetic and molecular profiles.

Based on test type, the blood cancer diagnostics market is bifurcated into blood tests, molecular tests, imaging tests, and biopsy. The blood tests segment accounted for USD 4.7 billion in 2023.
 

• Blood tests are a fundamental and widely adopted method for the early detection and monitoring of blood cancers, such as leukemia, lymphoma, and myeloma. These tests are cost-effective and provide rapid results, making them a preferred choice among healthcare providers.
   
• Moreover, advancements in technology such as multicolor analysis-based flow cytometry have improved the accuracy and sensitivity of blood tests, allowing for earlier detection and better patient outcomes.
   
• The segment's growth is further supported by ongoing research and development, leading to the introduction of innovative blood test assays that offer more comprehensive diagnostic information.
   

Based on cancer type, the blood cancer diagnostics market is bifurcated into leukemia, lymphoma, and myeloma. The leukemia segment is forecasted to reach USD 9.8 billion by 2032.
 

• The rising prevalence of leukemia is a significant contributor to this growth. For instance, according to the Surveillance, Epidemiology, and End Results (SEER) database, there were an estimated 61,090 new cases of leukemia in 2021 in the U.S., accounting for 3.2% of all new cancer cases, making leukemia the 10th most common cancer in the country.
   
• Moreover, advances in diagnostic technologies have improved the accuracy and efficiency of leukemia detection, leading to earlier diagnosis and better patient outcomes.
   
• Additionally, increased awareness and screening programs have resulted in more widespread adoption of these diagnostic tools, propelling the growth of the segment.
   

Based on end-use, the blood cancer diagnostics market is bifurcated into hospitals, diagnostic laboratories, diagnostic imaging centers, and cancer research institutes. The hospitals segment is forecasted to reach USD 9 billion by 2032.
 

• Hospitals are increasingly adopting advanced diagnostic technologies and techniques to improve the accuracy and speed of blood cancer detection. This trend is supported by significant investments in state-of-the-art diagnostic equipment and an emphasis on early detection and personalized treatment plans.
   
• Hospitals benefit from their integrated healthcare systems, which allow for streamlined patient management and coordinated care across various departments, further enhancing their role in blood cancer diagnostics.
   
• Therefore, as the healthcare infrastructure continues to evolve with an emphasis on precision medicine and multidisciplinary approaches, the hospitals segment is expected to experience robust growth, supported by ongoing advancements in diagnostic technologies and an increasing focus on improving patient outcomes.

The growth of the blood cancer diagnostics market in the U.S. is projected to reach USD 9.4 billion by 2032.
 

• There is a strong emphasis on the early detection and prevention of blood cancers in the U.S. Healthcare providers and government organizations are increasingly advocating for routine screening and early diagnosis. This focus not only improves survival rates but also boosts the demand for diagnostic tests and technologies, thereby propelling market growth in the country.
   
• Moreover, increasing public and private investments for developing strong infrastructure to support blood cancer diagnosis and treatment are also contributing to revenue growth in the market. For instance, in February 2024, the University of Cincinnati Cancer Center, supported by a combined investment of USD 131 million, commenced operations to address the critical needs of the 1.6 million individuals in the United States affected by blood cancers.
   

The blood cancer diagnostics market in the UK is expected to experience significant and promising growth from 2024 to 2032.
 

• The UK is at the forefront of integrating cutting-edge diagnostic technologies in healthcare. Advances such as next-generation sequencing (NGS), which allows for comprehensive genetic profiling of blood cancers, and liquid biopsies, which enable non-invasive cancer detection, are becoming more prevalent. The adoption of these technologies in UK healthcare settings is expected to enhance diagnostic accuracy and drive market growth.
   
• Moreover, growth in research and investment activities in the UK, aimed at enhancing diagnostics and treatment capabilities, is driving market growth in the country. For example, since 1964, Blood Cancer UK has invested over £500 million in various research projects, significantly advancing the understanding, diagnosis, and treatment of blood cancers.
   

The Japan blood cancer diagnostics market is anticipated to witness lucrative growth between 2024 and 2032.
 

• The trend towards personalized medicine in Japan is influencing the market. Personalized diagnostic tests that cater to individual patient profiles and genetic predispositions are becoming more prevalent. This approach not only improves diagnostic accuracy but also aligns with the broader healthcare trend of tailoring treatments to individual needs, thereby stimulating market growth.
   
• The market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
   
• The healthcare infrastructure in Saudi Arabia is undergoing rapid development, with new hospitals and specialized cancer centers being established. Enhanced facilities and the integration of state-of-the-art diagnostic equipment support the growth of the market by improving access to advanced diagnostic services.
   

Blood Cancer Diagnostics Market Share

The market is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A pivotal aspect of market strategy involves the continual introduction of innovative diagnostic products leveraging diverse technologies. Notably, prominent industry players command considerable influence in this dynamic landscape, often driving forward advancements through substantial investments in research and development. Additionally, strategic alliances, acquisitions, and mergers are instrumental in fortifying market positions and expanding the global footprint amidst evolving regulatory landscapes.
 

Blood Cancer Diagnostics Market Companies

Some of the eminent market participants operating in the blood cancer diagnostics industry include:

• Abbott Laboratories
• Alercell, Inc.
• Becton, Dickinson and Company
• Bio-Rad Laboratories, Inc.
• Bio-Techne Corporation
• Danaher Corporation
• F. Hoffmann-La Roche Ltd
• GE HealthCare Technologies Inc.
• HORIBA, Ltd.
• Illumina, Inc.
• Invivoscribe, Inc.
• QIAGEN N.V.
• Sysmex Corporation
• Thermo Fisher Scientific Inc.
   

Blood Cancer Diagnostics Industry News:

• In May 2023, Cepheid, a subsidiary of Danaher Corporation, announced that it had received CE marking for the Xpert NPM1 Mutation test, a molecular in vitro diagnostic product designed to quantify mutant NPM1 mRNA transcripts (types A, B, and D in exon 12) in peripheral blood samples from patients with Acute Myeloid Leukemia (AML). This regulatory approval made the product available in Europe and boosted the company's revenue.
   
• In December 2022, Alercell introduced the LENA Q51 leukemia diagnostic test, which utilizes DNA sequencing to detect mutations across 51 genes in leukemia patients. Using a qPCR machine, clinicians could identify mutations across these 51 genes. The launch of this product broadened Alercell’s product portfolio and provided the company with a competitive edge in the market.
   

The blood cancer diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product

• Instruments
• Assay kits and reagents     

Market, By Test Type

• Blood tests
• Imaging tests
• Biopsy
• Molecular tests                 

Market, By Cancer Type

• Leukemia
• Lymphoma
• Myeloma                          

Market, By End-use

• Hospitals
• Diagnostic laboratories
• Diagnostic imaging centers
• Cancer research institutes                               

The above information is provided for the following regions and countries:

• North America 
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East and Africa 
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa