Global Hematology Oncology Market By Hematology Products (Hematology Analyzers, Hematology Reagents, Flow Cytometers, Hematology Cell Counters, Slide Strainers, Coagulation Analyzers, Others), By Applications (Infectious Diseases, Cancer, Cardiovascular Disorders, Blood Screening, Diabetes, HIV, Auto-Immune Diseases), By End-User (Hospitals, Clinical Testing Institutes, Patient Self-Testings), By Oncology Drug Class Types, By Oncology Indications, By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Hematology is the study of bone and blood marrow illnesses, as well as their diagnosis, prevention, and therapy. Oncology is the branch of medicine that deals with the prevention, treatment, and diagnosis of cancer. Hematology is a field of medicine that is used to diagnose a variety of diseases such as diabetes, cancer, cardiovascular diseases, and it is even used during blood screening applications. Medical, surgical, and radiation oncology are the three main branches of oncology.

 Detailed Segmentation –

The global hematology oncology market is segmented on the basis of – Hematology Products, Oncology Drug Class Types, Oncology Indications, Applications, End-Users, and Region. Represented below is a detailed industry segmental description:

Based on Hematology Products:

• Hematology Analyzers
• Hematology Reagents
• Flow Cytometers
• Hematology Cell Counters
• Slide Strainers
• Coagulation Analyzers
• Hematology Testing
• Centrifuges
• Hemoglobin Meters
• Other Hematology Products

Based on Oncology Drug Class Types:

• Chemotherapy
• Targeted Therapy
• Immunotherapy
• Hormonal Therapy

Based on Oncology Indications:

• Lung Cancer
• Stomach Cancer
• Colorectal Cancer
• Breast Cancer
• Prostate Cancer
• Liver Cancer
• Esophagus Cancer
• Cervical Cancer
• Kidney Cancer
• Bladder Cancer
• Other Oncology Indications

Based on Applications:

• Infectious Diseases
• Cancer
• Cardiovascular Disorders
• Blood Screening
• Diabetes
• HIV
• Auto-Immune Diseases

Based on End-Users:

• Hospitals
• Clinical Testing Institutes
• Patient Self-Testings
• Other End-Users

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics –

Drivers for the Global Hematology Oncology Market:

One of the primary factors propelling the revenue growth of the hematology oncology market is the increasing prevalence of myeloma and lymphoma around the world. This upsurge in the availability of improved molecular techniques for the diagnosis of hemato-oncology, as well as the proliferation of sequencing techniques such as Next-Generation Sequencing (NGS) due to the increase in development pricing and sequencing of the Human Genome Project (HGP) in the field of genomics, are subsequently boosting market expansion prospects.

The advent of sophisticated molecular techniques in addressing issues concerning blood cancer prognosis, treatment courses, diagnosis, as well as an increase in the number of instances of blood disorders. These are all factors that have positively impacted this market.

Opportunity for the Global Hematology Oncology Market:

The development of the drug-diagnostics model can provide extensive revenue growth opportunities for this market.

Restraints for the Global Hematology Oncology Market:

The high cost of cancer drugs is expected to hamper this market’s revenue trajectory. Moreover, concerns about the harmful effects of cancer drugs are anticipated to negatively impact this market over the next decade.

 Competitive Landscape –

Key players in this market are –

• Abbott Laboratories
• Bio-Rad Laboratories Inc.
• Danaher Corporation
• F. Hoffmann-La Roche Ltd.
• Novo Nordisk A/S
• PerkinElmer Inc.
• Thermo Fisher Scientific Inc.
• AbbVie Inc.
• Astellas Pharma Inc.
• AstraZeneca
• Bristol-Myers Squibb Company
• Celgene Corporation
• Johnson & Johnson Services Inc.
• Merck & Co. Inc.
• Beckman Coulter Inc.
• others

These key industry players are now focusing on mergers, partnerships, acquisitions, product developments, and collaboration strategies, in order to sustain their respective competitive edge.

Key Developments-

• Year 2019
  • In January 2019, Aurobindo Pharma had announced the acquisition of seven Spectrum Pharmaceutical-branded injectable medicines. As a result of this transaction, the company will join the oncology sector and offer a variety of products to its clients. This acquisition will aid the corporation in increasing revenue and diversifying its operations.
• Year 2018
  • In May 2018, Armo BioSciences and AurKa Pharma had been acquired by Eli Lilly to expand their cancer treatment range. The acquisition of AurKa Pharma adds a promising oncology product targeting a distinct pathway through the cell cycle to the company’s portfolio, and Armo Biosciences will assist the company in providing treatment for a variety of tumors.

For the Hematology Oncology Market research study, the following years have been considered to estimate the market size: