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Minimal Residual Disease Testing Market Worth $4.45 billion by 2031--Exclusive Report by Meticulous Research®
The growth of the minimal residual disease testing market is driven by the growing incidence of cancer, the extensive application of MRD testing in cases of hematological malignancies, the high recurrence rates of some cancers, and increasing investments & funding for MRD testing & research. However, stringent regulatory frameworks and the high costs of MRD testing restrain the growth of this market.
Furthermore, emerging economies, the rising adoption of personalized treatments & targeted therapies in the field of oncology, and the growing use of MRD testing in cases of solid tumors are expected to generate growth opportunities for market stakeholders. However, the shortage of skilled professionals and the chances of false positive/negative results are major challenges in the global minimal residual disease testing market.
Single cell multiomnics assay can perform genotypic and immunophenotypic assessment of MRD simultaneously in thousands of cells, providing insight with respect to immunophenotype from rare residual disease cells. These molecular profiles provide critical insights and information regarding the complex nature of cancer molecular residual disease, which can help in the identification of new markers for detecting early cancer recurrence. Additionally, the application of artificial intelligence (AI) and bioinformatics in MRD testing helps to analyze the large amounts of data generated by technologies such as the NGS and dPCR. AI based algorithms are able to identify patterns in genetic data, enhancing the accuracy of MRD detection more effectively.
The growth of MRD testing is attributed to the advancements in technologies to provide real-time monitoring and personalized treatment. With advancements in single cell sequencing and integration with AI, the next generation of minimal residual disease tests could offer in depth insights into cancer relapse, treatment resistance mechanisms, and treatment efficacy.
The key players profiled in this market study are Illumina, Inc. (U.S.), Qiagen N.V. ( Netherlands ), F. Hoffmann-La Roche Ltd. ( Switzerland ), Thermo Fisher Scientific, Inc. (U.S.), Natera Inc (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Adaptive Biotechnologies Corporation (U.S.), Sysmex Corporation, ( Japan ), Integrated DNA Technologies, Inc. (U.S.), Twist Bioscience Corporation (U.S.) and Invivoscribe Inc. (U.S.).
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Based on offering, the assays & reagents segment is slated to register a highest CAGR of during the forecast period. The rising cancer incidence, growing availability of tests for blood cancers as well as solid tumors to detect early cancer recurrence, and growing R&D to develop new MRD tests are some of the key factors expected to support the segment's high growth.
Based on technology, the polymerase chain reaction segment is slated to register highest CAGR of during the forecast period. PCR's ability to detect minute quantities, large adoption of PCR across all the end users, and advancements in PCR technology such as digital PCR are factors expected to support the segment's high growth.
Based on application, the blood cancers segment is slated to register a higher CAGR during the forecast period. The rising burden of blood cancers, growing R&D for MRD in hematological malignancies, increasing development of therapies for blood cancers which utilize MRD testing in clinical trials, and rising awareness for MRD testing are factors expected to support the segment's high growth.
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Based on sample type, the blood segment is slated to register a higher CAGR during the forecast period. The initiatives by the players to introduce blood-based MRD tests, high adoption and patient compliance to blood based MRD tests due to the ease of sample collection, and growing burden of blood cancers are factors expected to support the segment's high growth.
Based on customer type, the pharmaceutical & biopharmaceutical companies' segment is slated to register a higher CAGR during the forecast period. Growing use of MRD testing in clinical trials, initiatives by pharmaceutical and biopharmaceutical to develop therapies for cancers, and high spending of pharmaceutical for cancer research are factors expected to support the segment's high growth.
Based on geography, the Asia-Pacific region is slated to register a higher CAGR of during the forecast period. Rising awareness regarding MRD testing, growing burden of cancer, rising demand for quality healthcare, development of healthcare infrastructure, and growing adoption of advanced technologies such as the NGS in the region are factors expected to support the Asia-Pacific's high growth.
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Content Source:
https://www.meticulousresearch.com/pressrelease/1304/minimal-residual-disease-testing-market
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