Non-Hodgkin Lymphoma Diagnostics Market size will grow between 2021 to 2027 due to the soaring need for novel technologies and innovative drugs. Higher prevalence of disease coupled with growing public awareness has led to surge in degrees of healthcare expenditure.
The burgeoning costs and complications related to drugs, limited treatment options as well as the presence of stringent regulatory guidelines may limit the industry growth to some extent. However, the mount in number of improved diagnostic techniques and FDA approvals for therapy drugs may act as a significant booster to the market progression.
Non-Hodgkin lymphoma is a type of cancer that originates from lymphoid tissues, mainly lymph nodes. Its diagnostics refers to the various methods and techniques that aid in its treatment.
On the basis of test type, the market forecast will considerably anchor from biopsy testing owing to increasing adoption of excisional or incisional biopsy techniques. Biopsies are increasingly employed to diagnose cancer, as they help in identifying other conditions, including infections and inflammatory disorders. They are also significantly preferred over imaging exams as they do not clearly define the abnormality. The influx of novel biopsy techniques, like a liquid biopsy, will also uplift the overall market share.
Based on end-use, hospitals are likely to witness a higher preference for non-Hodgkin lymphoma diagnostics methods. This is ascribed to the ease of access to rapid and accurate diagnostic tests and the presence of skilled professionals in these settings. Apart from limiting inappropriate medication use, diagnostic information helps in shortening hospitalization, while bringing improved health outcomes. Growing preference for cancer diagnosis in hospitals by patients will favor the industry expansion.
Geographically, Asia Pacific will record a significant industry share through 2027 driven by higher levels of healthcare spending and the expanding patient pool. Growing inclination towards urban lifestyles coupled with surging economic progress has steered the rise in instances of disease in the region. The availability of poor diagnostic facilities will further infuse multiple opportunities for industry progression.
North America non-Hodgkin lymphoma diagnostics market will expand significantly with increasing prevalence of ailment in the region. According to the American Cancer Society, non-Hodgkin lymphoma (NHL) accounts for over 4% of all cancers in the U.S. and is estimated to affect more than 81,560 adults and children in 2021. Growing technological advancements along with the strong presence of regulatory frameworks and a well-established healthcare infrastructure will drive the regional growth.
Aspire Medical Innovation, Thermo Fisher Scientific, Medtronic, Merit Medical Systems, Argon Medical, Depuy Synthes (Johnson & Johnson), Merck KGaA, Medplus Inc., LSL HEALTHCARE, INC., Agilent Technologies, Inc., Cardinal Health, Abbott Laboratories, PerkinElmer, Inc. (PerkinElmer), and BD, are some companies operating in the market.
Several of these firms are focusing on key business strategies, like acquisitions, partnerships, and mergers, to consolidate their market presence. These participants are also constantly resorting to new treatment launches and their approvals for extending their product as well as customer base.
For instance, in May 2021, PerkinElmer, Inc. acquired Immunodiagnostic Systems Holdings PLC for approximately $155 million in order to expand its overall diagnostics business.
The present coronavirus crisis brought ructions to the global economy and forged significant impacts on a vast number of businesses worldwide. In response to the escalating infection count, the demand for non-Hodgkin lymphoma diagnosis and treatment considerably jetted on account of the growing number of hospitalizations in patients affected with lymphoma. The rising number of disease-affected patients acquiring the virus added an edge to the market.
Market, by Test Type
Market, by Lymphoma Type
Market, by End-Use
The above information is provided for the following regions and countries: