Global Acute Myeloid Leukemia Diagnostics Market, By Product Type (Instruments and Consumables & Accessories), Test Type (Imaging Test, Blood Test, Bone Marrow Test, Biomarker Test, Immunophenotyping, Genetic Testing, and Others), Cancer Type (Myeloblastic (M0), Myeloblastic (M1), Myeloblastic (M2), Promyelocytic (M3), Myelomonocytic (M4), Monocytic (M5), Erythroleukemia (M6), and Megakaryocytic (M7)), Age Group (65 and Above, Below 21, 21-29, and 30-65), 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 2031.
Acute Myeloid Leukemia Diagnostics Market Analysis and Insights
The growing prevalence of leukemia cancer globally has enhanced the demand for market growth. The rising healthcare expenditure for better health services also contributes to market growth. The major market players focus on various service launches and approvals during this crucial period. In addition, the increase in improved diagnostic processes and techniques also contributes to the rising demand for blood cancer diagnostics testing. However, late diagnosis and poor prognosis of leukemia are expected to hamper the market growth in the forecast period. Increasing healthcare expenditure on cancer diagnosis and treatment is expected to give opportunities to the market to enhance the treatment.
The global acute myeloid leukemia diagnostics market is expected to grow in the forecast period of 2024 to 2031. Data bridge market research analyzes that the market is growing with a CAGR of 11.3% in the forecast period of 2024 to 2031 and is expected to reach USD 6,538.78 million by 2031 from USD 2,777.16 million in 2023.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Year
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2022 (Customizable into 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Product Type (Instruments and Consumables & Accessories), Test Type (Imaging Test, Blood Test, Bone Marrow Test, Biomarker Test, Immunophenotyping, Genetic Testing, and Others), Cancer Type (Myeloblastic (M0), Myeloblastic (M1), Myeloblastic (M2), Promyelocytic (M3), Myelomonocytic (M4), Monocytic (M5), Erythroleukemia (M6), and Megakaryocytic (M7)), Age Group (65 and Above, Below 21, 21-29, and 30-65), 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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U.S., Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Indonesia, Philippines, Thailand, Malaysia, Vietnam, Singapore, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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CANON MEDICAL SYSTEMS CORPORATION, Sysmex Corporation, Epigenomics AG, Myriad Genetics, Inc., F. Hoffmann-La Roche Ltd, Abbott, QIAGEN, Agilent Technologies, Inc., Siemens Healthcare GmbH, BIOMERIEUX, Exact Sciences Corporation, Merck KGaA, Hologic Inc., DiaSorin S.p.A., Illumina, Inc., Koninklijke Philips N.V., BD, Quest Diagnostics Incorporated, Bio-Rad Laboratories, Inc., FONAR Corp., Time Medical Holding., Sonic Healthcare, PlexBio, MinFound Medical Systems Co., Ltd, Medonica Co. Ltd, Thermo Fisher Scientific Inc., and SternMed GmbH, among others
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Market Definition
Acute Myeloid Leukemia (AML) is a cancer of the blood and bone marrow. It is the most common type of acute leukemia in adults. This type of cancer usually gets worse quickly if it is not treated. AML is also called acute myelogenous leukemia and acute nonlymphocytic leukemia. Most AML subtypes are based on how mature (developed) the cancer cells are at the time of diagnosis and how different they are from normal cells.
Acute Promyelocytic Leukemia (APL) is a subtype of AML. This leukemia occurs when genes on chromosome 15 switch places with some genes on chromosome 17 and an abnormal gene called PML-RARA is made. The PML-RARA gene sends a message that stops promyelocytes (a type of white blood cell) from maturing. Problems with severe bleeding and blood clots may occur. This is a serious health problem that needs treatment as soon as possible. APL usually occurs in middle-aged adults.
Global 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 the 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.
- Increase in Awareness Regarding Leukemia Cancer
Acute leukemia cancer awareness is a chance to increase knowledge about these diseases and to put the spotlight on research into their causes, prevention, diagnosis, treatment, and survival. The objective is to assist people who have been impacted by leukemia and to promote healthy habits.
Every year, several awareness campaigns are planned to educate people about leukemia. Various organizations take the lead in this. As a result, this is expected to drive market growth.
Opportunity
- Increase in Diagnostic Products for Leukemia
The increase in diagnostic products specifically designed for leukemia presents a notable opportunity within the healthcare sector. This expansion signifies a growing focus on tailored diagnostic solutions, offering more accurate and comprehensive methods for identifying various subtypes and stages of leukemia. These advancements facilitate earlier and more precise diagnoses, enabling healthcare providers to initiate prompt and targeted treatment strategies. Moreover, the evolving landscape of diagnostic products creates opportunities for innovation, fostering the development of novel technologies and approaches that can further improve the overall management and prognosis of leukemia patients.
Restraints/ Challenges
- 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 North America. 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.
- 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 Development
- 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.
Global Acute Myeloid Leukemia Diagnostics Market Scope
The global 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 Tests
- Biomarker Test
- Immunophenotyping
- Others
Based on test type, the market is segmented into blood test, imaging test, bone marrow test, genetic tests, 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.
Global Acute Myeloid Leukemia Diagnostics Market Regional Analysis/Insights
The global 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 the U.S., Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Indonesia, Philippines, Thailand, Malaysia, Vietnam, Singapore, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa as referenced above.
North America dominates global acute myeloid leukemia diagnostics market due to Novel technological advancements in leukemia diagnostics. U.S. dominates in North America acute myeloid leukemia diagnostics marketdue to rising preference for preventive health check-ups. Germany dominated in the Europe acute myeloid leukemia diagnostics market due to the rising technological advancements, usage of instruments and consumables of diagnostics in the region, China is dominating in Asia-Pacific acute myeloid leukemia diagnostics market due to 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 global brands and their challenges faced due to competition from local and global brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Acute Myeloid Leukemia Diagnostics Market Share Analysis
The global 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, global 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 global acute myeloid leukemia diagnostics market are CANON MEDICAL SYSTEMS CORPORATION, Sysmex Corporation, Epigenomics AG, Myriad Genetics, Inc., F. Hoffmann-La Roche Ltd, Abbott, QIAGEN, Agilent Technologies, Inc., Siemens Healthcare GmbH, BIOMERIEUX, Exact Sciences Corporation, Merck KGaA, Hologic Inc., DiaSorin S.p.A., Illumina, Inc., Koninklijke Philips N.V., BD, Quest Diagnostics Incorporated, Bio-Rad Laboratories, Inc., FONAR Corp., Time Medical Holding., Sonic Healthcare, PlexBio, MinFound Medical Systems Co., Ltd, Medonica Co. Ltd, Thermo Fisher Scientific Inc., and SternMed GmbH among others.
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