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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 2024-2032, ” The study provides a detailed analysis of the industry, including the global
minimal residual disease (MRD) testing market size, share, trends, 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$ 2.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.1 Billion by 2032, exhibiting a growth rate (CAGR) of 10.21% during 2024-2032.
What is Minimal Residual Disease (MRD) Testing?
Minimal Residual Disease (MRD) testing, a key component of personalized medicine, involves the detection and measurement of cancer cells that remain in the patient after treatment. It encompasses a wide range of techniques, from flow cytometry to next-generation sequencing, used across various healthcare settings like hospitals, diagnostic labs, and research institutes. 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 (R&D) activities, and inflating investments in MRD testing programs, are expected to bolster the market in the coming years.
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What are the growth prospects and trends in the minimal residual disease (MRD) testing industry?
The escalating demand for personalized and precision medicine is one of the critical factors propelling the growth of the MRD testing market. Moreover, advancements in diagnostic technology, enabling more accurate and sensitive detection of MRD, are bolstering market expansion. The global shift towards data-driven healthcare, where diagnostic decisions and therapeutic strategies are optimized based on individual patient data, is further enhancing the demand for MRD testing. The increasing awareness about cancer and its early detection among consumers, paired with the rising incidence of hematologic cancers, is stimulating the MRD testing market growth. The rapid development in the oncology sector, combined with the consequent need for reliable post-treatment monitoring tools, is driving the MRD testing market. The escalating demand for non-invasive testing options, uninhibited by the logistical challenges of traditional diagnostic procedures, is augmenting the market growth. The growing acceptance of MRD testing, credited to its predictive value in cancer prognosis and potential to guide treatment decisions, is a significant market influencer. Rising cognizance about the importance of early cancer detection and the need to monitor treatment response is fostering the demand for MRD testing. Other factors, such as government regulations promoting diagnostic advancements, investment in medical research, and the emergence of startups in precision medicine, are propelling the market growth globally. Furthermore, the rise of telemedicine and remote patient monitoring, along with patients' preference for personalized care, is offering a positive market perspective.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by
Technology:
Flow Cytometry Polymerase Chain Reaction (PCR) Next Generation Sequencing (NGS) Others
Market Breakup by Application:
Hematological Malignancy 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
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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