Global Minimal Residual Disease Testing Market Size is estimated to be about USD 1.43 Billion in 2024 and estimated to reach about USD 2.55 Billion by the year 2029, at a growth rate of CAGR of 12.2% during the forecasted period. Rising cases of cancer and hematological malignancies, increased efforts by government bodies toward increasing levels of cancer awareness, and rising collaborations are likely to propel the market for minimal residual disease testing over the next several years. The growth prospects for market players in emerging countries are expected to be substantial over the next few years.
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), among others.
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F. HOFFMANN-LA ROCHE LTD.
Minimal residual disease testing, in 2023, for Switzerland-based F. Hoffmann-La Roche Ltd. was the market leader. Roche is one of the market leaders due to its vast product offerings. The company has believed in focused innovation to maintain its market share, it has, comparatively speaking, invested lesser into the R&D activities on this front. In addition to that, the robust sales and distribution network of the company worldwide has also assisted in its market positioning. It works with third parties in collaboration and in partnership to provide integrated and better solutions. The company has a strong geographic command across 180 countries in the Americas, Europe, Asia, and the Middle East & Africa.
LABCORP INC.
As of 2023, Labcorp Inc. (US) is the second-largest player in the minimal residual disease testing market. Laboratory Corporation of America Holdings, commonly referred to as Labcorp, is a US-based global life sciences company that offers critical diagnostic and drug development services to healthcare providers and researchers. The company operates two main segments specifically Diagnostic Laboratories and Biopharma Laboratory Services. It has a strong presence in North America, Europe, the Middle East, Africa, and Asia-Pacific. The company is widely recognized for its extreme product portfolio in MRD testing and screening. For innovation, the focus of Labcorp is significantly on research and development. AtlantiCare (US) and OmiSeq (US) are strategic acquisitions that helped to enhance its capability. The global distribution network of the company increases its market reach. Labcorp continues to advance healthcare through insights and innovation.
GUARDANT HEALTH
Guardant Health specializes in the development of innovating technologies for more efficient cancer management. The company's flagship product is Guardant Reveal-blood test-one that will detect circulating tumor DNA (ctDNA) in order to ascertain the presence of MRD in early-stage cancers, such as colorectal, breast, and lung. Revenue for Guardant Health is generated from the Precision Oncology Testing and Development Services and Other segments. While the company majorly focuses on the U.S., it also has a significant presence in Europe, the Middle East & Africa, and Asia Pacific. Its innovative liquid biopsy technologies have established Guardant Health as a leader in precision oncology, while also fueling growth in the realm of MRD testing toward the future of personalized cancer treatments.
Related Reports:
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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