Leukemia screening involves testing of blood and bone marrow samples to detect abnormalities in white blood cells count, type or maturity. With rising prevalence of blood cancers like leukemia, there is increased demand for effective screening tests to diagnose the condition at an early stage. This helps in timely initiation of treatment and management of the disease. 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:
The increasing incidence of blood cancers like leukemia is a key trend fueling growth of the leukemia screening market. It is estimated that over 400,000 new cases of leukemia will be diagnosed globally by 2030. Early detection through effective screening helps to improve treatment outcomes in leukemia patients. Development of novel biomarkers and screening tests with high sensitivity and specificity will further drive the market by facilitating early and accurate diagnosis of leukemia.
SWOT Analysis
Strength: Leukemia screening techniques have advanced recently due to improvements in next-generation sequencing and liquid biopsy methods, allowing for earlier and more accurate diagnosis.
Weakness: Limited awareness about leukemia symptoms and screening tests in developing regions can lead to delayed diagnosis. Accessibility and affordability of advanced screening tests is also a challenge in low resource settings.
Opportunity: Rising healthcare expenditure and favorable government initiatives are increasing screening rates globally. Development of novel biomarkers and technologies for non-invasive monitoring offer new opportunities.
Threats: Stringent regulations for product approval may delay market entry of new players. Privacy and data security issues related to genomics also need careful handling.
Key Takeaways
The global leukemia screening market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is estimated to reach US$ 7.28 Billion in 2023 and projected to grow at a CAGR of 7% during the forecast period.
Regional analysis: North America currently dominates the leukemia screening market attributable to increasing adoption of advanced screening tests and well-established healthcare infrastructure. Asia Pacific region is expected to offer lucrative growth opportunities owing to rising healthcare spending, large patient pools and growing awareness.
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 players are focusing on new product launches, partnerships, and geographical expansion strategies to strengthen their market positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it