Minimal Residual Disease Testing Market To Generate USD 3,570.1 Million Revenue by 2030, Says P&S Intelligence

NEW YORK, Feb. 21, 2023 /PRNewswire/ -- USD 1,156.8 million was produced in 2022 by the minimal residual disease testing market, which is predicted to touch USD 3,570.1 million in 2030, advancing at a 15.1% CAGR from 2022 to 2030.

P&S Intelligence says this growth is primarily attributed to the growing cases of solid tumors and hematological malignancies and the mounting awareness about the benefits of testing for cancers that could recur.

Moreover, to help in the detection of all types of small cancer cells, numerous government firms are continually occupied with the advancement of testing technologies.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/minimal-residual-disease-testing-market/report-sample

Cases of Minimal Residual Diseases Are High in North America

The North American minimal residual disease testing industry accounts for the largest revenue share, of about 45%, due to the growing acceptance of technologically advanced solutions, surging R&D investments, and large count of testing facilities.

• In the U.S., the probability of people having residual malignant cells is rising as the cases of hematologic cancers increase, which is driving the demand for minimal residual disease testing in the country.

During the projection period, the APAC region is predicted to record the fastest pace of advance, owing to the snowballing government funding for setting up healthcare facilities, surging cases of lymphoma and leukemia, and easy availability of new diagnostic technologies.

• In the region, Japan is projected to have the largest share, credited to the escalating count of diagnostic centers and hospitals.

Most-Frequently Used Techniques Are Polymerase Chain Reaction and Next-Generation Sequencing

As they offer more-accurate and faster solutions, polymerase chain reaction and next-generation sequencing are frequently utilized for such testing. Further, organizations are concentrating on the development of advanced assays that will use such techniques.

Based on end user, with an above 13% CAGR, the category of hospitals is set to advance at the highest rate in the market during the projection period. This is attributed to the accessibility of advanced diagnostic devices and existence of skilled healthcare professionals.

Browse detailed report on Minimal Residual Disease Testing Market Share, Growth and Demand Forecast to 2030

Owing to the increasing prevalence of leukemia globally, the hematological malignancies category is set to advance at a rate of 16% in the coming eight years. As per the American Cancer Society, in the U.S., around 8,540 new cases of Hodgkin's lymphoma, including 3,970 in females and 4,570 in males, along with 920 deaths, were detected last year.

The immunological test type accounted for a share of about 30% in 2022. This can mainly be attributed to the growing public awareness of the precise immunological tests created to identify any ailment in the body.

Minimal Residual Disease Testing Market Segmentation Analysis

Minimal Residual Disease Testing Market by Test Type

• DNA-Based Test
• RNA-Based Test
• Immunological Test

Minimal Residual Disease Testing Market by Application

• Hematological Malignancies
• Solid Tumors

Minimal Residual Disease Testing Market by Technology

• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Flow Cytometry
• Fluorescence In-Situ Hybridization (FISH)

Minimal Residual Disease Testing Market by End User 

• Hospitals
• Specialty Clinics
• Diagnostic Laboratories
• Research and Academic Institutes

Minimal Residual Disease Testing Market Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

Browse More Reports Published by P&S

Global RNA Analysis Market Share, Growth, Development and Demand Forecast to 2030

Global DNA Extraction Kit Market Share, Growth, Development and Demand Forecast to 2030

Next-Generation Antibody Therapeutics Market Growth, Development and Demand Forecast to 2030

NGS Sample Preparation Market Growth, Development and Demand Forecast to 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:
Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: [email protected]
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg

SOURCE P&S Intelligence