Acute Myeloid Leukemia (AML) Biomarker Testing Market to Hit USD 624.0 Mn by 2031, Says Transparency Market Research

Wilmington, Delaware, United States, March 15, 2023 (GLOBE NEWSWIRE) — According to the latest market research study by Transparency Market Research, “The global acute myeloid leukemia (AML) biomarker testing market size was valued at US$ 293.0 Mn in 2021 and is projected to expand at a CAGR of 8.0% from 2022 to 2031”.

Biomarker testing could offer key information on the genetic makeup of cancer. This technique is increasingly adopted from the past few years as an important tool in the diagnosis and management of acute myeloid leukemia (AML).

As per the statistics of the National Comprehensive Cancer Network (NCCN), the U.S. reported around 20,050 new cases of AML in 2022. Of these, nearly 11,180 were estimated to be fatal. More than 3,700 cases of leukemia are registered in Australia every year. Of these, 1,400 are acute leukemia, which accounts for around 1% of cases of cancer in the country. Hence, rise in AML cases is likely to augment the global market during the forecast period.

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Acute Myeloid Leukemia (AML) Biomarker Testing Market: Growth Drivers

• Increase in prevalence of AML globally is propelling demand for advanced testing solutions
• Rise in the geriatric population across the globe is expected to fuel industry growth in the next few years

Global Acute Myeloid Leukemia (AML) Biomarker Testing Market: Key Findings

• Individuals aged 65 and older show higher prevalence of cancer and higher death rates than younger individuals. For instance, this population accounts for around 60% of the cancer cases, which is 10 to 11 fold higher than that of younger people. According to World Health Organization (WHO) statistics, the global geriatric population is projected to increase from 962 million in 2017 to 1.4 billion by the end of 2030. This population is anticipated to reach over 2.1 billion by 2050. This creates significant business opportunities for manufacturers of acute myeloid leukemia (AML) biomarker testing solutions in the next few years.
• Popularity of gene sequencing has risen in the past few years owing to its ability to reveal over 10 substantial gene mutations. Majority of them are considered to be participating in leukemogenesis. Most common gene mutations include NPM1 (27%), FLT3 (28%), IDH1 or IDH2 (20%), DNMT3A (26%), RUNX1 (10%), NRAS or KRAS (12%), TP53 (8%), TET2 (8%), WT1 (6%), and CEBPA (6%). While mutations influencing signal activation are common (around 60% of instances), mutations in FLT3 are considered the most common. As per market report by TMR, the genetic segment is anticipated to lead the global industry during the forecast period.
• PCR technology offers various advantages, such as rapid diagnosis, high specificity and sensitivity, and efficient monitoring of cancer progress. PCR-associated assays show a high level of sensitivity, as PCR-associated molecular testing technologies utilize PCR amplification in order to make more copies of targeted RNA or DNA. Moreover, these assays can study more targeted genomic DNA changes with a superior level of resolution compared to FISH assays. As per the market outlook report by TMR, the PCR segment is anticipated to account for significant market share during the forecast period

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Acute Myeloid Leukemia (AML) Biomarker Testing Market: Key Players

• Bio-Rad Laboratories, Inc.
• Abbott Laboratories
• Laboratory Corporation of America Holdings
• Genmark Sağlık Ürünleri
• Medaysis Company
• Leica Biosystems Nussloch GmbH (Danaher)
• QIAGEN N.V.
• NeoGenomics Laboratories
• Thermo Fisher Scientific, Inc.

Regional Analysis

• North America is projected to account for significant share of the global industry during the forecast period, owing to strong healthcare infrastructure, well-entrenched life science industries, rise in understanding about AML, and increase in usage of technologically developed products
• The market in Asia Pacific is expected to advance at a CAGR of 9.1% during the forecast period. This can be ascribed to increase in funding by the regional governments for R&D activities focused on disease diagnosis and treatment, along with rise in the prevalence of AML.

Acute Myeloid Leukemia (AML) Biomarker Testing Market: Competition Landscape

• Industry players are offering highly specific and sensitive biomarker tests in order to increase customer base
• These companies are also increasing R&D activities in order to develop products with improved quality

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Acute Myeloid Leukemia (AML) Biomarker Testing Market: Key Players

• Bio-Rad Laboratories, Inc.
• Abbott Laboratories
• Laboratory Corporation of America Holdings
• Genmark Sağlık Ürünleri
• Medaysis Company
• Leica Biosystems Nussloch GmbH (Danaher)
• QIAGEN N.V.
• NeoGenomics Laboratories
• Thermo Fisher Scientific, Inc.

Acute Myeloid Leukemia (AML) Biomarker Testing Market Segmentation

Type of Biomarker

Technology

End-use

• Research Use Only
• In Vitro Diagnostic Use

Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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