Oncology Blood Testing Market Outlook (2022 to 2032)

[342 Pages Report] The global oncology blood testing market size is likely to be valued at USD 3,851.7 Million in 2022 and is expected to reach USD 18,278.2 Million by 2032. The market is likely to exhibit immense growth at a CAGR of 15.2% during the forecast period.

Attributes Details
Oncology Blood Testing Market Size (2022) USD 3,851.7 million
Oncology Blood Testing Market Size (2032) USD 18,278.2 million
Oncology Blood Testing Market CAGR 15.2%

To reduce gaps in precision medicine practice, companies provide various molecular decision support systems that amalgamate genomic and clinical data surging the demand for oncology blood testing. Researchers enabled the diagnosis of genetic mutations of distinct cancers owing to the latest research and advancements surging the adoption of oncology blood testing.

The ability to detect cancerous cells through advanced human genome sequencing expands the oncology blood testing market share. The rising number of people getting diagnosed with cancer increases expenditure on research, further propelling the oncology blood testing market size. The oncology blood testing market growth through 2031 owes to the surge in technological innovation and advancements.

Don't pay for what you don't need

Customize your report by selecting specific countries or regions and save 30%!

What are the Key Drivers that Expand the Oncology Blood Testing Market?

The increasing cost of development and sequencing of the Human Genome Project in the field of genomics owing to the proliferation of sequencing techniques such as NGS propels the oncology blood testing market growth.

Multiple investment programs in precision medicine by key companies drive the demand for oncology blood testing. The adoption of oncology blood testing increases with the hike in the availability of advanced molecular techniques for diagnosis.

Growing awareness about advanced treatment therapies amongst the population expands the oncology blood testing market share. Demand for oncology blood testing grows owing to favorable and uncomplicated reimbursement policies. Increasing cases of hematologic or blood cancer grow the demand for oncology blood testing.

Monitoring the status of minimal residual disease due to rising cases of myeloma cancers and lymphoma along with leukemia in patients escalates the adoption of oncology blood testing. Increasing awareness about blood cancer and its early diagnosis disseminated by government and non-government organizations boosts the oncology blood testing market share.

High prevalence and incidence of cancer, inducing a rapid surge in the burden of sample processing in healthcare facilities, bolsters the oncology blood testing market size. Cancer detection in blood via blood testing assays and kits with the capability of being an efficient diagnostic tool increases the adoption of oncology blood testing. The rising demand for preventative care and accurate diagnosis propels the adoption of oncology blood testing.

The number of cancer cases in the world in 2018 was 18.0 Million, according to the World Health Organisation (WHO), which promises growth of the oncology blood testing market share. Various academic and research witnessing an increase in the number of research studies to develop genetic testing for various blood cancers increases demand for oncology blood testing. The oncology blood testing market size broadens owing to a rise in product approvals.

The presence of healthcare professionals to conduct diagnostic tests surged the adoption of oncology blood testing. The availability of specialized laboratory settings expands the oncology blood testing market share. The affordability of instruments used for blood cancer diagnosis assists in the growth of the oncology blood testing market size.

The effectiveness and credibility of new diagnostic methods elevate the demand for oncology blood testing. The rise in PCR-based tests to detect IDH1 genetic mutations in the bone marrow and blood samples extends the oncology blood testing market growth.

What are the Factors that Obstruct the Oncology Blood Testing Market?

Uncertain reimbursement scenarios in undeveloped regions curb the adoption of oncology blood testing. Diagnostic tools to detect cancer using blood samples, being under development and clinical trial stage, thus being unavailable commercially hinders the oncology blood testing market growth.

Lockdown restrictions due to COVID-19 disrupting the supply chain hampered the demand for oncology blood testing. High costs associated with molecular diagnostics and budgetary limitations obstruct the demand for oncology blood testing. The requirement and sporadic availability of sophisticated facilities further impede the oncology blood testing market growth.

Sabyasachi Ghosh
Sabyasachi Ghosh

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

What are the Possibilities that Expand the Oncology Blood Testing Market?

Improving the efficiencies and precision in cancer diagnostics and prevention via new innovative technologies like fluid biopsies, real-time cancer diagnostics, digital PCR, immunohistochemistry, next-generation sequencing (NGS), molecular testing, and cytogenetics escalates the adoption of oncology blood testing. Public and private partnerships and movements toward molecular pathology escalate the demand for oncology blood testing.

A growing number of FDA approvals for NGS-based tests in the USA further propels the oncology blood testing market growth. Increasing collaborations between manufacturers in the market grow the demand for oncology blood testing. Rising conferences on personalized medicines bolster the adoption of oncology blood testing.

Advancements in genetic testing generating a significant impact on diagnostic trends increase the demand for oncology blood testing. An increase in the availability of technologically advanced products for the diagnosis of acute myeloid and leukemia progresses the oncology blood testing market share.

An increase in the co-development of the drug-diagnostics model further expands the oncology blood testing market size. A greater understanding of diagnostic procedures and the availability of technologically advanced products for diagnosis grows the demand for oncology blood testing. Growth in the expenditure and implementation of R&D activities further expand the oncology blood testing market size.

Regional Analysis

How is the Performance of the North America Oncology Blood Testing Market?

North America dominates the oncology blood testing market share with a revenue of 52.6% in 2022.

This is owing to favourable reimbursement policies and increase in cancer cases amongst the population, along with the awareness on early diagnosis of cancer. This region necessitates the demand for oncology blood testing and advanced technologies to prevent, diagnose and treat cancer.

The growth of the market is further attributed to the rising cases of leukaemia, lymphoma, and multiple myeloma. The survival rate for the disease is approximated to be 86.6% due to the timely diagnosis and emergence of novel therapies.

What is the Growth Outlook for the Europe Oncology Blood Testing Market?

Europe registers the second largest oncology blood testing market share with a revenue of 30.6% in 2022.

Owing to easy regulatory approval for in-vitro cancer diagnostics, the Europe oncology blood testing market promises growth. The interesting incidence of multiple myeloma across Europe, further fuels the oncology blood testing market growth.

How will the Asia Pacific Oncology Blood Testing Market Grow?

The Asia Pacific is expected to grow in the global oncology blood testing market share.

Growth in the prevalence of blood cancer in several countries of this region.

Increasing number of research activities regulated by various academic research academies further propels the global market growth.

Get the data you need at a Fraction of the cost

Personalize your report by choosing insights you need
and save 40%!

Startup Ecosystem

How is the Start-up Ecosystem in the Oncology Blood Testing Market?

Changes in the market and the advent of new technologies contributing to the research and development of new diagnostic tools that aid in the treatment and prevention of cancer are gaining significant popularity.

The awareness of early diagnosis and an interesting number of cancer patients throughout the world surges the perpetual research work against the constant emergence of this fatal illness.

Certain start-up companies are contributing to the overall market growth by devising strategies to counteract blood cancer in the population.

Adaptive Biotechnologies, Grail, Abingdon Health, Freenome, Vivia Biotech, Genoptix, Biofluidica, SkylineDX, etc. provide clinical diagnostics, gene expression profiling tests for personalized medicine, liquid biopsy tests using CTCs, and help scientists and clinicians in research and drug development.

What is the Competitive Landscape of the Oncology Blood Testing Market?

Some of the key market participants in the oncology blood testing market are Guardant Health Inc., Trovagene Inc., Genomic Health Inc., Foundation Medicine Inc., Exosome Diagnostics, Pathway Genomics Corporation, F. Hoffman-La Roche Ltd., Abbott Laboratories, EntroGen Inc., Qiagen N.V., Cepheid, Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Illumina Inc., CORE Diagnostics, Genoptix Inc., GenPath, NeoGenomics Laboratories Inc., Siemens, MolecularMD, ArcherDx Inc., ARUP Laboratories., Invivoscribe Inc., GenPath, Laboratory Corporation of America Holdings, Luminex Corporation, Myriad Genetics Inc., Roche Holding A.G., Invitae Corporation, Asuragen Inc., Molecularmd, EntroGen, Cepheid, Cancer Genetics, Adaptive Biotechnologies, Grail, Abingdon Health, Freenome, Vivia Biotech, Biofluidica, SkylineDX, Biodesix Inc., NovellusDX, BioNTech SE, etc.

They aim to research and develop diagnostic tools that aid in early detection of cancer in patients. Using liquid biopsies to detect the life threatening disease and try and combat it in time, is the utmost goal of healthcare centers – with the assistance of these key players, the healthcare sector is improving in this arena.

Some of the recent developments in the oncology blood testing market are:

  • In August 2019, a novel blood test that helps in the detection of myeloma was developed by scientists from Monash University.
  • In October 2018, the launch of a screening study for individuals who are at high risk of multiple myeloma was announced by scientists from Dana-Farber Cancer Institute.
  • In 2018, a research study conducted by Bloodwise - a blood cancer research charity team, indicating positive results for the research study, expected to facilitate the use of personalised medicine for the treatment of Acute Myeloid Lukemia (AML).
  • In May 2021, the launch of the first blood-based pan-cancer study in China was achieved by Burning Rock Biotech Limited, based on a multi-omics approach.
  • In July 2021, the opening of the headquarters of Biofidelity Ltd. - a renowned name in cancer diagnostics, in North Carolina, the USA was announced.

Scope of Report

Report Attribute Details
Growth Rate CAGR of 15.2% from 2022 to 2032
Base year for estimation 2021
Historical data 2016 to 2021
Forecast period 2022 to 2032
Quantitative units Revenue in USD million and CAGR from 2022 to 2032
Report coverage Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments covered Types, Application, End User, and Region.
Regional scope North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand
Country scope USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa
Key companies profiled Guardant Health Inc.; Trovagene Inc.; Genomic Health Inc.; Foundation Medicine Inc.; Exosome Diagnostics; Pathway Genomics Corporation; F. Hoffman-La Roche Ltd.; Abbott Laboratories; EntroGen Inc.; Qiagen N.V.; Cepheid; Thermo Fisher Scientific Inc.; Bio-Rad Laboratories Inc.; Illumina Inc.; CORE Diagnostics; Genoptix Inc.; GenPath; NeoGenomics Laboratories Inc.; Siemens; MolecularMD; ArcherDx Inc.; ARUP Laboratories.; Invivoscribe Inc.; GenPath; Laboratory Corporation of America Holdings; Luminex Corporation; Myriad Genetics Inc.; Roche Holding A.G.; Invitae Corporation; Asuragen Inc.; Molecularmd; EntroGen; Cepheid; Cancer Genetics; Adaptive Biotechnologies; Grail; Abingdon Health; Freenome; Vivia Biotech; Biofluidica; SkylineDX; Biodesix Inc.; NovellusDX; BioNTech SE; etc.
Customization scope Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Avail customized purchase options to meet your exact research needs.

Frequently Asked Questions

How much CAGR can be Estimated for the Oncology Blood Testing Market?

The oncology blood testing market is likely to generate a CAGR of 15.2% during the forecast period.

What is the Leading Regional Market of Oncology Blood Testing?

North America is the leading oncology blood testing market.

What will be the Size of the Oncology Blood Testing Market by 2032?

By 2032, the oncology blood testing market is likely to grow to a valuation of USD 18,278.2 Million.

Table of Content
  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
  • 5. Global Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Test Type
    • 5.1. CBC (Complete Blood Count) Test
    • 5.2. Blood Protein Test
    • 5.3. Tumor Marker Test
    • 5.4. CTC (Circulating Tumor Cells) – based Test
    • 5.5. NIPT (Non-Invasive Prenatal Testing) Test
    • 5.6. Liquid Biopsy Assays
    • 5.7. Exome-Based Liquid Biopsy
  • 6. Global Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application
    • 6.1. Lung Cancer
    • 6.2. Breast Cancer
    • 6.3. Colon Cancer
    • 6.4. Melanoma
    • 6.5. Ovarian Cancer
    • 6.6. Gastrointestinal Stromal Tumor (GIST)
  • 7. Global Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End User
    • 7.1. Hospitals
    • 7.2. Specialty Clinics
    • 7.3. Diagnostic Laboratories
  • 8. Global Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
    • 8.1. North America
    • 8.2. Latin America
    • 8.3. Europe
    • 8.4. Asia Pacific
    • 8.5. MEA
  • 9. North America Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
  • 10. Latin America Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
  • 11. Europe Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
  • 12. Asia Pacific Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
  • 13. MEA Oncology Blood Testing Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
  • 14. Key Countries Oncology Blood Testing Market Analysis
  • 15. Market Structure Analysis
  • 16. Competition Analysis
    • 16.1. Guardant Health Inc.
    • 16.2. Multigen Diagnostics
    • 16.3. Genomic Health Inc.
    • 16.4. Foundation Medicine Inc.
    • 16.5. Exosome Diagnostics
    • 16.6. Roche
    • 16.7. Bio-Techne
  • 17. Assumptions & Acronyms Used
  • 18. Research Methodology
Recommendations

Healthcare

Oncology Information Systems Market

August 2023

REP-GB-15150

333 pages

Healthcare

Oncology Adjuvants Market

March 2023

REP-GB-4166

250 pages

Healthcare

Oncology Imaging Software Market

February 2023

REP-GB-12102

286 pages

Healthcare

Oncology Apoptosis Modulators Market

November 2022

REP-GB-1435

250 pages

Explore Healthcare Insights

View Reports
Future Market Insights

Oncology Blood Testing Market

Schedule a Call