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:
- Market numbers on micro-segments that are influencing the market
- Regulatory framework analysis and reimbursement scenario in developed and developing regions
- Supply chain analysis for IVDs and LDTs
- Market share analysis for all players providing molecular technologies for MRD assessment
- Growth share analysis for prominent companies, major technologies, applications, and end users
- End-user preference data for over 50 end users
- Detailed global and regional market share analysis including the scrutiny of more than 16 countries
- Study of data of more than 20 companies actively involved in pushing the boundaries of molecular MRD testing
The report is beneficial for
- Manufacturers of assays and panels, operating in the field of oncology diagnostics.
- Emerging companies in the field of MRD testing to assess the market situation.
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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How can market intelligence on MRD testing add value to an organization's decision-making process?
- Aid in product development
- Help in targeting a segment for launching a new product
- Offer go to market access strategies
- Support in diversifying the product portfolio basis risk and progression of technology
- Help in analyzing technological substitutes and compare specifications
- Aid in understanding the end-user landscape
- Gain holistic views pertaining to the regions and understand the market potential of the countries.
- Support in analyzing the competitive landscape to gain an understanding of the business strategies incorporated by the companies
Insightful Questions Covered to Enable Companies take Strategic Decisions
- What are the major market drivers, challenges, and opportunities in the global MRD testing market?
- What is the potential impact of biotechnological advancement in the diagnostic industry among the end users, such as physicians, researchers, pathologists, and laboratory technicians?
- What are the major market drivers, challenges, and opportunities, and their respective impacts in the global MRD testing market?
- What is the current market demand along with future expected demand for the global MRD testing market?
- Has MRD testing penetrated major countries facing immense burden from hematological malignancies?
- What are the key regulatory hurdles for industry players looking to enter this highly dynamic market?
- What are the key development strategies that are implemented by the major players in order to sustain in the competitive market?
- How is each segment of the market expected to grow during the forecast period from 2020 to 2025 based the following segments:
- Technology (Flow Cytometry, PCR, NGS, and Other Technologies)
- Application (Hematological Malignancies and Solid Tumor)
- End User (Specialty Clinics and Hospitals, Diagnostic Laboratories, Research Institutions, and Other End Users)
- Region (North America, Europe, Asia-Pacific, Latin America & Middle East, and Rest-of-the-World)
- Who are the leading players with significant offerings to the global MRD testing market? What is the expected market dominance for each of these leading players?
- Which emerging companies are anticipated to be highly disruptive in the future, and what are their key strategies for sustainable growth in the global MRD testing market?
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BIS Research, a premium market intelligence company offers in-depth insights and consulting to Fortune 500 companies. We are established and known for tracking the growth of deep technologies across key industry verticals and the subsequent challenges and opportunities associated with deep tech across markets, applications and products.
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