Hematology Market Predicted to Rise at a Lucrative CAGR throughout 2019 – 2027

Global Hematology Market: Snapshot

The strides in the global hematology market have been catalysed by multiple distinct factors. Advances in diagnostic technologies for hematologic malignancies and automation in devices have helped address current and emerging needs of patients in the hematology market. Over the past few years, new paradigms in medicine and health care have increasingly broadened the market potential. Hematology care encompassed by oncology, immunology, and molecular biology is opening new avenues in the hematology market. A case in point is through understanding of hematopoietic stem cells.

An understanding of success of specific treatments for haematological disorders has further quality of care in the hematology market.  Advances in cancer immunotherapy protocols play crucial role in shaping the contours of the market.

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Global Hematology Market: Notable Developments

Recent spate of research has shed light on various types of risks for hematologic malignancies. Of these, familial relative risk (FRR) has been drawing the attention of researchers, which might pave way for new avenues in the hematology market. A recent study obtained 153,115 records of hematologic malignancies through Swedish Family-Cancer Database over nearly 70 years from 1958 to 2015. The researchers measured familial relative risks in the patients. The study highlighted some interesting results. FRR was higher in certain tumor types, in conditions when multiple relatives of individuals were affected, particularly when first-degree relatives were affected. Also the FRR was higher when relatives were diagnosed with myeloid malignancies at an earlier age.

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The results have gained significance in the hematology market to devise appropriate diagnostic modules and identification of high-risk patients. This will boost awareness about the familial risks among patients and their families and clinicians.

Some of the prominent key players in the hematology market are:

  • Thermo Fisher Scientific Inc.
  • Fluidigm Corporation
  • Hoffmann-La Roche AG
  • Danaher Corporation
  • Bio-Rad Laboratories Inc.
  • Agilent Technologies Inc.
  • Abbott Laboratories

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Global Hematology Market: Growth Dynamics

Blood disorders are a substantial health and economic burden in worldwide populations. Growing prevalence of common blood disorders such as anaemia particularly among women, and haemophilia has been driving clinical advances in the hematology market. Prevalence of certain blood cancer in developed countries is also bolstered awareness for hematology testing. Increasing inclination of hematology care providers in automating testing technologies has opened lucrative avenues for device manufacturers, notably in emerging economies. Growing incidence of genetic blood disorders is also boosting the hematology market.

Over the years, interested stakeholders in the hematology market have benefitted from advances in understanding the biology of hematopoietic stem cells. An expanding cancer immunotherapy protocols have also expanded the potential of the market. Emerging area of induced pluripotent stem (iPS) cells will likely open new doors of opportunities in the not-so-distant future.

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The advent of instruments that help clinicians measure patient-reported outcomes (PRO) has taken the quality of care in the hematology market to a new trajectory. These outcomes are of vital prognostic value as they enable clinicians to incorporate patients’ perspective in the treatment process. PRO assessments are gathering steam in clinical trials as well as clinical practice.

Global Hematology Market: Regional Analysis

Among the various regions, North America has been showing vast revenue generating potential. Rising concern of blood-related disorders, notably in the U.S., and constant research for developing cutting-edge instruments have reinforces the prospects of the region in the hematology market. Meanwhile, Europe and Asia Pacific are potentially promising regional markets, with the latter showing considerable appetite for growth. Growing awareness of hematologic disorders and improving oncology care are aspects augmenting the prospects of the regional market. Advances made in transplant biology and immunology in Europe will help open numerous lucrative avenues in the region in the coming few years.

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