Hemato Oncology Testing Market Size, Share & Trends Analysis Report By Product (Assay Kits & Reagents, Services), By Cancer Type (Leukemia, Lymphoma), By Technology, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the hemato oncology testing market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for hemato oncology testing market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of hemato oncology testing market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Hemato Oncology Testing Market Categorization:

The hemato oncology testing market was categorized into five segments, namely cancer type (Leukemia, Lymphoma, Myeloproliferative Neoplasms), product (Assay Kits and Reagents, Services), technology (PCR, IHC, NGS, Cytogenetics), end-use (Hospitals, Academic & Research Institutes), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The hemato oncology testing market was segmented into cancer type, product, technology, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The hemato oncology testing market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-five countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; Denmark; Sweden; Norway; Russia; China; Japan; India; Australia; South Korea; Singapore; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Hemato oncology testing market companies & financials:

The hemato oncology testing market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• F. HOFFMANN-LA ROCHE LTD. - F. Hoffmann-La Roche AG. produces and manufactures Pharmaceutical and diagnostic products. It has about 26 manufacturing locations worldwide. It operates in the diagnostics and pharmaceutical sectors. Pharmaceuticals for infectious, cardiovascular, respiratory, oncological, metabolic, central nervous system, and autoimmune diseases are produced by this division. Roche Diagnostics operates in a variety of market sectors, including clinical laboratory systems and patient self-monitoring.

• ABBOTT - Abbott is a healthcare organization that creates new goods and technology. The corporation works in several important healthcare areas, including nutrition, diagnostics, medical devices, and branded generic drugs. A wide range of products are available in its diagnostics section, including blood screening, point-of-care, clinical chemistry, immunoassay, and informatics. Additionally, the business sells Abbott PRISM, a blood screening brand. The business is present throughout Asia Pacific, Europe, and North America. Abbott successfully acquired Alere, Inc. in September 2017 to grow its diagnostics division.

• ENTROGEN, INC. - American biotechnology business EntroGen, Inc. creates and markets molecular diagnostics for oncology and haematology. The company provides a large range of real-time Polymerase Chain Reaction (PCR) and next-generation sequencing (NGS) testing. For several cancers, the majority of these tests are employed to direct and track targeted therapy. Via its network of distributors, the company sells its products to researchers and physicians all around the world.

• QIAGEN - QIAGEN is a multinational biotechnology business with operations in more than 20 countries. Assay technologies for molecular diagnostics, pharmaceutical, academic, and applied testing are among the company's core business sectors. Moreover, forensic professionals use the molecular technologies the company invented, and the company also handles the genetic material extraction process from biological materials. To broaden its offering in liquid biopsies, QIAGEN acquired cutting-edge technology from AdnaGen AG in March 2015. For individualized healthcare, this acquisition improved the molecular analysis of CTCs from blood samples.

• CEPHEID - Molecular Diagnostics Business Cepheid, a division of Danaher Corporation, develops and markets integrated testing solutions for the clinical market. Cepheid was purchased by the diversified U.S. company Danaher Corporation in 2016. After the purchase, Cepheid and Copper Merger Sub, Inc., a wholly-owned subsidiary of Danaher, were combined. Cepheid has been a Danaher Corporation subsidiary ever since the merger.

• THERMO FISHER SCIENTIFIC, INC. - Thermo Fisher Scientific, Inc. is a developer and producer of analytical equipment, instruments, consumables, reagents, software, and services for a variety of applications such as diagnostics, research, manufacturing, and drug development. The company is divided into four business segments: analytical instruments, specialty diagnostics, life sciences solutions, and laboratory products and services. Its Specialty Diagnostics sector supplies diagnostic reagents, test kits, tools, culture media, and related products to customers in healthcare, clinical, pharmaceutical, industrial, and food safety laboratories.

• BIO-RAD LABORATORIES, INC. - Bio-Rad Laboratories, Inc. offers equipment and support for the life sciences, food sciences, and clinical diagnostics industries. The business is divided into two segments: biosciences and clinical diagnostics. The clinical diagnostics segment includes quality control, test kits, informatics systems, and test systems design, manufacture, support, and sales. Clinical laboratories around the world use these goods. The development and finding of instruments necessary for biological processes is the focus of the life sciences sector. The company produces equipment, reagents, and laboratory instruments utilized in research methods, biopharmaceutical development, and food testing protocols. Hospitals, research facilities, labs, biotechnology corporations, and pharmaceutical companies all employ Bio-Rad products. Over 35 nations are served directly by the company's distribution systems.

• ILLUMINA, INC. - Luminous, Inc. is known for distributing and producing solutions based on arrays and sequencing. For usage in the life sciences, oncology, reproductive health, agriculture, and other expanding areas, the company offers a wide range of consumables, analysis tools, and integrated sequencing & microarray systems. Core Illumina, which consists of Illumina's core operations, and another section that manages the operations of its consolidated variable interest companies comprise the business. The company's clientele includes educational institutions, healthcare facilities, government laboratories, biotechnology corporations, pharmaceutical companies, and consumer genomics companies.

• AMOY DIAGNOSTICS CO., LTD. - Amoy Diagnostics Co., Ltd. is a Chinese biotechnology firm that develops and markets molecular diagnostics for oncology precision medicine. The company's molecular diagnostics portfolio comprises CFDA and CE-certified ALK, RAS, EGFR, BRAF, ROS1, and PIK3CA testing kits. The company offers diagnostic tools and services to a variety of biopharmaceutical companies, including Merck, Pfizer, Boehringer-Ingelheim, AstraZeneca, and Illumina, for drug development and clinical oncology practice. The company provides solutions to over 300 hospitals in China and sells its goods in over 50 countries.

• INVITAE CORPORATION - Invitae Corporation is a public company that provides medical genetics products. It is committed to making inclusive, high-quality genetic data available by lowering the cost of genetic testing and establishing a network of partners to increase the utility of genetic information throughout the healthcare spectrum. The company has three business segments: genetic testing, genome network, and genome management. The company processes DNA-containing material using software tools, laboratory techniques, and informatics capabilities. It provides diagnostic tests for genetic disorders, reproductive health, and preventative health screening.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Hemato Oncology Testing Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Hemato Oncology Testing Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.