The Leukemia Screening market is estimated to be valued at US$ 17.04 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Leukemia screening refers to blood tests and medical examinations conducted to detect the presence of leukemia in the body. Leukemia is a type of blood cancer that affects the bone marrow and results in high numbers of abnormal white blood cells. The key products used in leukemia screening include reagents & kits, instruments, and services. Reagents & kits are consumables used for conducting various screening tests such as complete blood count, immunophenotyping, and molecular testing. Instruments include flow cytometers, hematology analyzers, and PCR machines that help analyze blood samples. Services include sample collection, transportation, and result reporting offered by diagnostic laboratories.
Market Dynamics:
The leukemia screening market is driven by the rising prevalence of leukemia worldwide. According to the statistics by the American Cancer Society, around 61,780 new cases of leukemia were reported in the U.S. in 2022. Factors such as increasing exposure to carcinogens and growing geriatric population are contributing to the rise in leukemia cases. Early and accurate diagnosis of leukemia is crucial for effective treatment and management of the disease. This is increasing the adoption of advanced screening tests such as next-generation sequencing and molecular diagnostics among healthcare facilities and clinicians. Moreover, ongoing research and development in genomics is aiding the development of novel biomarkers and screening assays with higher sensitivity and specificity for leukemia detection.
SWOT Analysis
Strength: The leukemia screening market has strong growth potential due to the increasing prevalence of leukemia. The advancement in screening technologies has improved the detection rate of leukemia. Further, supportive government initiatives and funding for cancer screenings are helping drive the market.
Weakness: High cost of screening technologies such as flow cytometry can limit their access and adoption in developing regions. Lack of skilled healthcare professionals to operate advanced screening devices is another challenge.
Opportunity: Rising healthcare expenditure in emerging nations provides growth opportunities to market players. Further, growing demand for point of care diagnosis of leukemia will support the market expansion.
Threats: Stringent regulatory approval processes hamper the timely availability of novel screening solutions. Changing reimbursement policies also pose a threat to market growth.
Key Takeaways:
The global leukemia screening market  share is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing prevalence of leukemia worldwide. As per WHO, nearly 400,000 new cases of leukemia were reported in 2020. This rising disease burden is majorly driving the demand for effective screening tests.
Regional analysis The North America region currently dominates the global leukemia screening market due to growing healthcare expenditure and availability of advanced healthcare facilities in the US and Canada. Moreover, supportive insurance policies for cancer screening are propelling the market growth. Asia Pacific exhibits the fastest growth fueled by improving healthcare infrastructure, rising healthcare spending, and increasing patient awareness in major Asian countries, including China and India.
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., Illumina, Inc., QIAGEN N.V., Grifols, S.A., Siemens Healthineers AG, Agilent Technologies, Inc., Ortho Clinical Diagnostics, Biocept, Inc., Adaptive Biotechnologies Corporation, Invivoscribe, Inc., and ArcherDX, Inc. Key players are focusing on the development and launch of advanced screening solutions to consolidate their market position.
