Hematology probes are used in molecular diagnostic techniques such as RT-PCR, Fluorescence in situ hybridization (FISH), Amplification Refractory Mutation System (ARMS), etc. for the elucidation of different gene mutation and loci responsible for the occurrence of blood disorders.
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Blood cancer is reigning the clinical application segment for the hematology probes market. According to the latest research citings provided by the World Health Organization, approximately 300,000 new cases of leukemia are reported annually throughout the globe, which is responsible for 2.8% of all the new cancer cases recorded worldwide. Further clinical investigation has revealed the global prevalence rate of leukemia is 14.1 per 100,000 people across the globe. Hematopathology is going to register steady market growth on account of the rising prevalence of genetic blood disorders such as clotting disorders, and thrombosis, etc. Biopharmaceutical companies are entirely focusing their R&D on the manufacturing of orphan drugs associated with the treatment of hematology disorders.
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Presently, pathology laboratories are dominating the end-user segment for the hematology probes market. Rising public health awareness has resulted in the early screening and diagnosis of blood malignancies worldwide, additionally the funding provided by the non-governmental and corporate social responsibility of pharmaceutical giants in establishing pathology laboratories in poor countries. Research academia is expected to showcase comfortable market growth during the forecast period. Enhanced research and development activities conducted in medical universities to investigate new drug molecules for its therapeutic efficacy in the treatment of blood cancer.
North America is currently leading the geography segment for the hematology probes market. The growing incidence of genetic blood disorders primarily drives market growth in the region. According to the latest statistics provided by the National Hemophilia Foundation (NHF), approximately 20,000 people are suffering from hemophilia in the United States. Additionally, the presence of major players such as Abbott Laboratories., Creative Bioarray, BioGenex, etc. further accentuates the market growth in the region. Europe is placed in the 2nd place in the regional segment for hematology probes on account of the rising prevalence of blood cancer in the region. As per the latest information provided by the European Journal of Cancer (EJC) by 2025, it is estimated that approximately 46,000 patients will be suffering from myeloma in the region. The Asia Pacific is anticipated to be the fastest-growing regional segment in the hematology probes market. Constant growth observed in the pathology laboratories and the emergence of local players engaged in the manufacturing of hematology probes together determine the market growth in the region.
Biopharmaceutical manufacturers actively engaged in the production of hematology probes are Abbott Laboratories, Creative Bioarray, BioGenex, Cytocell (Oxford Gene Technology), Biocare Medical, LLC., ZytoVision GmbH, SITOGEN, MetaSystems Probes GmbH, Generon., and NeoGenomics Laboratories, Inc.
Key Market Movements:
- Rising prevalence of blood cancer worldwide
- Growing incidence of blood malignancies such as hemophilia, thalassemia, etc. throughout the globe
- Proactive role adopted by the government healthcare agencies in the early screening and diagnosis of blood disorders and prescribe appropriate treatment regimen for its treatment