Minimal Residual Disease Testing Market is Anticipated to Witness High Growth Owing to Rising Prevalence of Chronic Diseases
The minimal residual disease (MRD) testing market continues to gain significant traction due to rising prevalence of chronic diseases, such as cancer and blood disorders. MRD testing allows clinicians to detect small number of malignant cells persisting post-treatment and aids in monitoring treatment response and prognosis. Growing demand for personalized medicine has prompted healthcare professionals to incorporate MRD testing during diagnosis and treatment of various chronic conditions.
The global minimal residual disease testing market is estimated to be valued at US$ 4.97 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the minimal residual disease testing are Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd, Guardant Health, Inc., Adaptive Biotechnologies, Invitae Corporation, ASURAGEN, INC., Invivoscribe, Inc., Laboratory Corporation of America Holdings, Natera, Inc., Sysmex Inostics, Inc., Amgen Inc., FOUNDATION MEDICINE, INC., Sebia, and Myriad Genetics, Inc. These players are focusing on launching innovative MRD testing solutions and engaging in strategic partnerships and acquisitions to cement their market position.
The rising incidence of chronic diseases provides significant growth opportunities for market players. According to WHO, cancer burden is expected to grow by over 70% in the next two decades. Hence, demand for MRD testing solutions to monitor treatment response and identify early relapse is anticipated to rise sharply.
Key players are strategically expanding their global footprint by establishing their presence in emerging markets. For instance, Sysmex Inostics expanded its distribution network across Asia and Europe. Bio-Rad Laboratories acquired Excilone to strengthen its MRD testing portfolio and presence in France.
Market drivers:
- Rising prevalence of chronic diseases like blood cancer, lymphoma, leukemia is boosting demand for MRD testing to monitor response to treatment and relapse.
- Growing focus on personalized medicine is prompting incorporation of MRD testing during diagnosis and treatment to offer targeted therapy.
Market restraints:
- High costs associated with MRD testing procedures limiting widespread adoption.
- Lack of skilled professionals and standard protocols hampering market growth.
Segment Analysis
The Minimal Residual Disease Testing Market Size is dominated by flow cytometry segment due to its wide usage in diagnosing various blood cancers such as acute lymphocytic leukemia, acute myeloid leukemia, chronic myelogenous leukemia, etc. Flow cytometry allows detection of rare tumor cells in patient's blood/bone marrow samples with high sensitivity and specificity. It is considered as standard technology for MRD testing in leukemia patients during and post-treatment to check treatment response and make decisions regarding further treatment plans.
Global Analysis
North America is the fastest growing as well as dominating regional market for minimal residual disease testing. Large presence of leading market players, growing prevalence of cancer, increasing awareness about MRD testing, favorable reimbursement policies, and rising adoption of innovative technologies drive the North America MRD testing market. Asia Pacific is expected to witness highest CAGR during the forecast period due to improving healthcare infrastructure, rising healthcare spending, growing cancer incidence, and increasing focus of global players on expanding their presence in Asia Pacific countries.
Get more insights on This Topic- Minimal Residual Disease Testing Market
English
Arabic
Français
Español
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian