IMARC Group, a leading market research company, has recently releases report titled Minimal Residual Disease (MRD) Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028, The study provides a detailed analysis of the industry, including the global minimal residual disease (MRD) testing market trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the minimal residual disease (MRD) testing market?
The global minimal residual disease (MRD) testing market size reached US$ 1.85 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.82 Billion by 2028, exhibiting a growth rate (CAGR) of 11.70% during 2023-2028.
What are the growth prospects and trends in the minimal residual disease (MRD) testing industry?
The minimal residual disease (MRD) testing market is primarily driven by the increasing prevalence of cancer across countries. Besides this, the escalating need for MRD testing to detect residual cancer cells and enable early detection of disease recurrence is acting as another significant growth-inducing factor. Moreover, the shifting preference towards personalized medicine, which allows for customized treatment planning and monitoring, and the elevating integration of artificial intelligence (AI) with MRD testing to enhance the identification of patterns, predict recurrence likelihood, improve diagnostic accuracy and effectiveness, and allow clinicians to make more informed decisions about patient care are also positively influencing the global market. Additionally, the expanding adoption of Next-Generation Sequencing (NGS) technology to determine DNA or RNA sequences and study genetic variations associated with diseases is further propelling the market growth. Apart from this, other factors, which include substantial growth in the healthcare industry, growing research and development (RD) activities, and inflating investments in MRD testing programs, are expected to bolster the market in the coming years.
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What is Minimal Residual Disease (MRD) Testing?
Minimal residual disease (MRD) testing refers to medical testing that serves the purpose of identifying and tracking minute quantities of cancer cells that may persist within a patients body subsequent to cancer treatment. It is extensively employed to examine various forms of cancer, including leukemia, lymphoma, multiple myeloma, and select solid tumors. MRD testing relies on exceptionally sensitive techniques such as cytometry, polymerase chain reaction (PCR), and next-generation sequencing (NGS). This medical examination holds significant importance in monitoring cancer patients and assisting healthcare professionals in making well-informed decisions regarding treatment. By facilitating the early detection of disease recurrence, MRD testing enhances the accuracy of assessing treatment response and contributes to personalized treatment planning. This method plays a crucial role in identifying patients who would benefit from targeted interventions, thus improving patient outcomes and optimizing individualized treatment strategies.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup byTechnology:
- Flow Cytometry
- Polymerase Chain Reaction (PCR)
- Next Generation Sequencing (NGS)
- Others
Market Breakup by Application:
- Hematological Malignancy
- Leukemia
- Lymphoma
- Solid Tumors
Market Breakup by End User:
- Hospitals and Speciality Clinics
- Diagnostic Laboratories
- Academic and Research Institutes
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Adaptive Biotechnologies Corporation
- Arup Laboratories Inc.
- Bio-Rad Laboratories Inc.
- Guardant Health
- Invivoscribe Inc.
- Natera Inc.
- NeoGenomics Laboratories Inc.
- Sysmex Corporation
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