Europe Acute Myeloid Leukemia Diagnostics Market, By Product Type (Instruments and Consumables & Accessories), Test Type (Imaging Test, Blood Test, Bone Marrow Tests, Biomarker Test, Immunophenotyping, Genetic Tests, and Others), Cancer Type (Myeloblastic (M0), Myeloblastic (M1), Myeloblastic (M2), Promyelocytic (M3), Myelomonocytic (M4), Monocytic (M5), Erythroleukemia (M6), and Megakaryocytic (M7)), Age Group (Below 21, 21-29, 30-65, and 65 and Above), Gender (Male and Female), End User (Hospital, Associated Labs, Independent Diagnostic Laboratories, Diagnostic Imaging Centres, Cancer Research Institutes, and Others), Distribution Channel (Direct Tender and Retail Sales) Industry Trends and Forecast to 2030.
Europe Acute Myeloid Leukemia Diagnostics Market Analysis and Insights
Due to the rising healthcare expenditure, there is a boost in the market growth, and this may result in better provisions of R&D opportunities. Apart from this, the increasing clinical research and diagnostic laboratories for the diagnosis of cancer are allowing the market to expand.
The Europe acute myeloid leukemia diagnostics market is expected to grow in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 11.4% in the forecast period of 2023 to 2030 and is expected to reach USD 1,662.45 million by 2030 from USD 702.84 million in 2022.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2020-2016)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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By Product Type (Instruments and Consumables & Accessories), Test Type (Imaging Test, Blood Test, Bone Marrow Tests, Biomarker Test, Immunophenotyping, Genetic Tests, and Others), Cancer Type (Myeloblastic (M0), Myeloblastic (M1), Myeloblastic (M2), Promyelocytic (M3), Myelomonocytic (M4), Monocytic (M5), Erythroleukemia (M6), and Megakaryocytic (M7)), Age Group (Below 21, 21-29, 30-65, and 65 and Above), Gender (Male and Female), End User (Hospital, Associated Labs, Independent Diagnostic Laboratories, Diagnostic Imaging Centres, Cancer Research Institutes, and Others), Distribution Channel (Direct Tender and Retail Sales).
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Countries Covered
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Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, and rest of Europe.
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Market Players Covered
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Epigenomics AG, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, BIOMERIEUX, Merck KGaA, DiaSorin S.p.A., Koninklijke Philips N.V., Sonic Healthcare, and SternMed GmbH among others.
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Market Definition
The most common form of blood cancer, acute myeloid leukemia (AML), is also one of the uncommon forms of leukemia. This form of cancer invades in blood, which then spreads to nearby organs and bodily systems. Specialists must manually diagnose cancer and non-cancer cells by examining cell images under a microscope and providing labels through annotation.
Rising healthcare expenditure can result in better provisions of R&D opportunities, which also propel business growth. The growing plethora of clinical research and diagnostic laboratories for the pre-testing of cancer is allowing the market to expand.
The increasing number of cancer cases and increasing awareness of leukemia have led to increased market growth.
The Europe acute myeloid leukemia diagnostics market is growing in the forecast year due to the rise in market players and the availability of advanced imaging instruments and consumables. Along with this, manufacturers are engaged in R&D activity for launching products in the market. The increasing R&D and pre-testing are further boosting the market growth. However, strict regulations and standards for the approval and commercialization of cancer diagnostic products and late diagnosis are expected to act as a challenge to market growth.
Europe Acute Myeloid Leukemia Diagnostics Market Dynamics
This section deals with understanding the market drivers, restraints, opportunities, and challenges. All of this is discussed in detail below:
DRIVERS
- Growing Prevalence of Leukemia Cancer
All ages can be affected by leukemia. Leukemia can be difficult to diagnose because, despite its wide range of signs and symptoms, it is non-specific and can be linked to other, more widespread medical conditions. AML is one of the four common types of leukemia in adults. It occurs less frequently. It is slightly more common among men than women, however, the average lifetime risk of getting AML in both sexes is about ½ of 1% on average.
AML is the second most common type of leukemia diagnosed in adults and children, but most cases occur in adults. Although it can be diagnosed at any age, it is uncommon before age 45. The average age of diagnosis is age 68. Rising maternal obesity rates may be partially responsible for the rise in the prevalence of AML.
Due to various risk factors, AML incidence has been rising, becoming a significant socio-economic issue. This is expected to act as a driver for market growth.
- Novel Technological Advancements in Leukemia Diagnostics
The most common form of blood cancer, AML, is also one of the uncommon forms of leukemia. This form of cancer invades in blood, which then spreads to nearby organs and bodily systems. Specialists must manually diagnose cancer and non-cancer cells by examining cell images under a microscope and providing labels through annotation. However, this hand microscopic examination is time-consuming and could give an incorrect diagnosis.
The risk of prescribing incorrect drugs was then reduced using computerized software. The creation of an automatic and reliable classification system became vital to stop the devastating effects of leukemia disease. Multiple segmentation techniques constituted the foundation of the existing leukemia classification algorithms.
The development of several new diagnostic methods will increase the market growth as many new and advanced products are launched. Hence, it is expected to create demand for acute leukemic cancer diagnostic products in the market.
RESTRAINTS
- Strict Regulations and Standards for the Approval and Commercialization of Leukemia Diagnostic Products
The stringent regulations for the commercialization of any product in the market are proving to be a big challenge for the manufacturers of cancer diagnostic products that have regulations and a different body for the regulatory procedures.
Manufacturers first have to check the CE mark approval for their product's commercialization into the market. The stringent regulatory policies are expected to hinder the growth and development of the market.
- Late Diagnosis and Poor Prognosis of Leukemia
Cancer is the leading cause of death in the world. However, if they are identified early on and given the right care, some cancers can be cured. The diagnostic process may experience delays in cancer diagnosis. When patients overlook or fail to respond to potential cancerous signs, the diagnosis gets delayed. The main cause of delayed presentation is the lack of public knowledge of early cancer signs, especially if such symptoms are unusual.
The late diagnosis often results from these factors, which result in poor prognosis. Thus, these are expected to restrain the market growth.
OPPORTUNITY/CHALLENGES
- Increased Cost, Safety, and Convenience Issues
Leukemia is fatal cancer, and the diagnosis process of leukemia also has safety issues. It is not cost-effective. One of the most costly medical disorders to treat is cancer. Cancer patients may be hospitalized and receive a variety of therapies, such as surgery, radiation therapy, and systemic therapy. Health insurance premiums for cancer patients are now more expensive than in the past. In addition, their copayment, deductible, and coinsurance costs are rising.
Henceforth, the current leukemia diagnosis process has safety, cost, and convenience issues, which are expected to act as a challenge to market growth.
Recent Developments
- In November 2022, Canon Inc. acquired Redlen Technologies Inc. (Redlen), one of the world's leading companies in creating new technologies related to the development and manufacture of semiconductor detector modules. Canon Medical Systems Corporation (Canon Medical), a group company of Canon Inc., has developed the first domestically produced Photon-Counting CT (PCCT) system incorporating Redlen's advanced technologies. This system has been installed at the National Cancer Center (NCC) Exploratory Oncology Research & Clinical Trial Center in Japan, where it is currently used to conduct research exploring the clinical applications of PCCT.
- In October 2022, Sysmex Corporation Chairman and its CEO: Hisashi Ietsugu announces the approval, of an application for a partial change to the manufacturing and marketing approval in Japan of its gene amplification reagent LYNOAMP CK19 marketed as a lymph node metastasis test reagent for breast cancer, colorectal cancer, gastric cancer, and non-small cell lung cancer, expanding its amplification to cervical cancer and endometrial cancer.
Europe Acute Myeloid Leukemia Diagnostics Market Scope
The Europe acute myeloid leukemia diagnostics market is segmented into seven notable segments based on product type, test type, cancer type, age group, gender, end user, and distribution channel. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Product Type
- Instruments
- Consumables & Accessories
Based on product type, the market is segmented into instruments and consumables & accessories.
Test Type
- Blood Test
- Imaging Test
- Bone Marrow Test
- Genetic Testing
- Biomarker Test
- Immunophenotyping
- Others
Based on test type, the market is segmented into blood test, imaging test, bone marrow test, genetic testing, biomarker test, Immunophenotyping, and others.
Cancer Type
- Myeloblastic (M0)
- Myeloblastic (M1)
- Myeloblastic (M2)
- Promyelocytic (M3)
- Myelomonocytic (M4)
- Monocytic (M5)
- Erythroleukemia (M6)
- Megakaryocytic (M7)
Based on cancer type, the market is segmented into myeloblastic (M0), myeloblastic (M1), myeloblastic (M2), promyelocytic (M3), myelomonocytic (M4), monocytic (M5), erythroleukemia (M6), and megakaryocytic (M7).
Age Group
- Below 21
- 21-29
- 30-65
- 65 and Above
Based on age group, the market is segmented into below 21, 21-29, 30-65, and 65 and above.
Gender
- Male
- Female
Based on gender, the market is segmented into male and female.
End User
- Hospital
- Associated Labs
- Independent Diagnostic Laboratories
- Diagnostic Imaging Centers
- Cancer Research Institutes
- Others
Based on end user, the market is segmented into hospital, associated labs, independent diagnostic laboratories, diagnostic imaging centers, cancer research institutes, and others.
Distribution Channel
- Direct Tender
- Retail Sales
Based on distribution channel, the market is segmented into direct tender and retail sales.
Europe Acute Myeloid Leukemia Diagnostics Market Regional Analysis/Insights
The Europe acute myeloid leukemia diagnostics market is analyzed and market size insights and trends are provided by country based on product type, test type, cancer type, age group, gender, end user, and distribution channel.
The countries covered in this market report are Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, and rest of Europe as referenced above.
Germany dominates the Europe acute myeloid leukemia diagnostics market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the rising technological advancements in diagnostic instruments and consumables in the region, growing R&D investments, and the launch of new products that are boosting market growth.
The country section of the report also provides individual market-impacting factors and changes in regulations in the market that impact the current and future trends of the market. Data points, such as new and replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. In addition, the presence and availability of Europe brands and their challenges faced due to competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Europe Acute Myeloid Leukemia Diagnostics Market Share Analysis
The Europe acute myeloid leukemia diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the Europe acute myeloid leukemia diagnostics market are Epigenomics AG, F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, BIOMERIEUX, Merck KGaA, DiaSorin S.p.A., Koninklijke Philips N.V., Sonic Healthcare, and SternMed GmbH among others.
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