In 2022, the minimal residual disease testing market was worth around USD 1,156.8 million, and it is projected to advance at a 15.1% CAGR from 2022 to 2030, hitting USD 3,570.1 million in 2030, according to P&S Intelligence.
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This development can be ascribed to the increasing occurrence of solid tumors and hematological malignancies. Furthermore, the rising healthcare spending, also the increasing government and private expenditure in minimal residual disease studies, are projected to boost the growth of the market in the future as well.
For minimal residual disease testing, next-generation sequencing and polymerase chain reaction are the most generally utilized methods, mainly because they offer quick and more-precise outcomes than others. Furthermore, businesses are concentrating on the growth of innovative and enhanced assays that will use these methods.
North America led the industry, by generating the largest revenue share, of approximately 45% in 2022, mainly due to high R&D and growth expenditure, the existence of key players, increasing acceptance of technologically enhanced solutions, and the huge number of testing amenities in the continent.
The hematological malignancy category is projected to experience a CAGR of over 16% in the coming few years, mainly because of the increasing occurrence of leukemia throughout the world. In 2022 as per the data issued by the American Cancer Society, around 8,550 new cases of Hodgkin’s lymphoma were identified in the U.S., with 3,970 females, and 4,570 males, along with 920 demises. Moreover, survival rates have significantly amplified in the past, mostly because of the enhancement in the treatment, the effectiveness of which hinge on the stage of cancer.
Hence, the increasing occurrence of solid tumors and hematological malignancies, and also the rising healthcare spending, also the increasing government and private expenditure in minimal residual disease studies, are driving the minimal residual disease testing industry.
