Minimal Residual Disease Market worth $2.55 billion by 2029
The report "Minimal Residual Disease Market by Product (Kits, Instruments), Technology (PCR, NGS), Application (Leukemia, Lymphoma, Multiple Myeloma, Solid Tumors), End User (Hospitals, Diagnostic Labs, Research Institutes), & Region - Global Forecast to 2029", is valued at an estimated USD 1.43 billion in 2024 and is projected to reach USD 2.55 billion by 2029, at a CAGR of 12.2% during the forecast period.
Browse 268 market data Tables and 48 Figures spread through 245 Pages and in-depth TOC on "Minimal Residual Disease Market by Product (Kits, Instruments), Technology (PCR, NGS), Application (Leukemia, Lymphoma, Multiple Myeloma, Solid Tumors), End User (Hospitals, Diagnostic Labs, Research Institutes), & Region - Global Forecast to 2029"
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Rise in incidence of cancer and hematologic malignancies, government body initiatives to create awareness about cancer, and growing collaborations are some of the various factors driving the growth of the global minimal residual disease testing market.
Japan and India are one of the emerging economies that are offering lucrative opportunities for players in the minimal residual disease testing market. This is accompanied by the rising cancer prevention programs led by governments, public health initiatives, and the heightened further demand for adequate testing methods in high-burden countries. Increased awareness among healthcare providers and the increased risk groups, such as people living with cancer increases the need for better diagnostics. Increased financial and regulatory support also makes these diagnostics more accessible to the general population. All these factors contribute to steady growth in the market of MRD testing.
In 2023, the Assay kits & reagents segment accounted for the largest share of the minimal residual disease testing market
The market for minimal residual disease testing is categorized into assay kits & reagents and instruments. The assay kits and reagents segment is likely to be the fastest-growing one in the market. A high growth rate of this segment is essentially based on its relatively more purchases. The need for more precise and efficient diagnostic instruments, particularly in high burden areas further expands the use of instruments too.
In 2023, the PCR segment accounted for the largest share of the minimal residual disease testing market.
The minimal residual disease testing market has been segmented based on technology into flow cytometry, polymerase chain reaction (PCR), next-generation sequencing (NGS). In 2023, the polymerase chain reaction technology segment accounted for the largest share of the global minimal residual disease testing market. This large share can be mainly attributed to the ease of use and easy availability of assay kits and a high degree of sensitivity of this technology.
Hematological Malignancies segment to register the highest growth rate during the forecast period
The market for minimal residual disease testing is classified into four applications including hematological malignancies, solid tumors, multiple myeloma, and others. By application, hematological malignancies led the way with maximum share of 66.0% in the global minimal residual disease testing market in 2023. The wide spread use of this application is expected to maintain its position as the market leader with all the above reasons including the increased incidence of leukemia and lymphoma, and with that of constant monitoring of such patients.
The hospitals & specialty clinics accounted for the largest share of the minimal residual disease testing market, by end user segment, in 2023
The market for minimal residual disease testing by end users is segmented into hospitals & specialty clinics, diagnostic laboratories, academic & research institutes, and other end users. In 2023, the category hospitals & specialty clinics accounted for the biggest share in the market, whereas diagnostic laboratories are growing at the fastest rate. Such a major share of hospitals & specialty clinics can be attributed to the availability of advanced diagnostic equipment and a skilled workforce capable of conducting these tests.
North America is the largest regional market for minimal residual disease testing market
The global minimal residual disease testing market is segmented into five key regions: North America, Europe, Asia Pacific, Latin America, the Middle East and Africa, and GCC Countries. In 2023, North America accounted for the largest share in the market. This is mainly due to a high incidence of leukemia and lymphoma, advanced healthcare systems in the US and Canada, the large number of national clinical laboratories, and easy access to advanced diagnostic technologies. Additionally, the region benefits from a a high level of awareness regarding early cancer detection and treatment.
The major market players involved in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Labcorp Inc. (US), Guardant Health (US), Sysmex Corporation (Japan), NeoGenomics Laboratories, Inc. (US), Adaptive Biotechnologies Corporation (US), ArcherDX, Inc. (US), Asuragen Inc. (US), Arup Laboratories Inc. (US), Bio-Rad Laboratories, Inc. (US), Cergentis B.V. (Netherlands), Molecular MD (ICON plc) (Ireland), Invivoscribe, Inc. (US), Mission Bio, Inc. (US), Natera, Inc. (US), Opko Health, Inc. (US), Quest Diagnostics (US), and Genetron Health (China), among others.
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