Market Research Report
MRD Testing Market - A Global and Country Analysis: Focus on Technology, Application, End User, Region - Analysis and Forecast, 2022-2027
|MRD Testing Market - A Global and Country Analysis: Focus on Technology, Application, End User, Region - Analysis and Forecast, 2022-2027|
Published: June 9, 2022
BIS Research Inc.
Content info: 281 Pages
Delivery time: 1-2 business days
“Global Minimal Residual Disease (MRD) Testing Market to Reach $2,611.2 Million by 2027.”
The minimal residual disease (MRD) testing market is projected to reach $2,611.2 million by 2027 from $1,089.3 million in 2021, at a CAGR of 14.53%. The market is driven by certain factors, such as the rising incidence of hematologic malignancies, increasing consumer awareness for tailored therapy, increasing research funding from the National Cancer Institute and increasing disposable income in emerging economies.
The global MRD testing market is in the rapidly evolving and dynamic stage, which opens ample opportunities for diagnostic and life science companies. Also, companies that are already in the development phase for MRD tests are trying to match themselves with modern technologies in the market to improve the overall system of MRD testing, from diagnostic assays and kits development to commercialization. The companies operating in the global MRD testing market are now focusing more on disease-specific and personalized diagnostic kits to enhance testing and improve detection outcomes. Also, major players such as ARUP Laboratories, Adaptive Biotechnologies Corporation, Bio-Rad Laboratories, Inc., Cergentis B.V, F. Hoffmann-La Roche Ltd, and Guardant Health are investing heavily in research and development for their respective testing products.
With an increased worldwide focus on treating hematological malignancies, the major market players are developing novel diagnostic tests, which are significantly impacting the growth of the MRD testing market. Diagnostic evolution in the form of companion diagnostics and liquid biopsy through molecular techniques such as PCR and NGS has enabled molecular diagnostic juggernauts to enter this market seamlessly. Following FDA approvals of clonoSEQ and Signatera, major companies are now looking to invest in the field of MRD, focusing primarily on the foundation laid for hematological malignancies. The market witnessed approximately 35 significant synergistic developments during the time period between January 2018 and May 2022.
In addition to this, in November 2021, Palmetto GBA's Molecular Diagnostics Program (MolDX) has confirmed a local coverage determination that supported the Medicare coverage for Adaptive Biotechnologies clonoSEQ in patients with B-cell acute lymphoblastic leukemia (ALL), multiple myeloma (MM), and chronic lymphocytic leukemia (CLL) for monitoring minimal residual disease. The above activities created a global impact and contributed to an increase in MRD testing market.
Due to recent developments in molecular diagnostic technologies, the turnaround time and overall cost have been reduced with increased sensitivity and accuracy of results. Significant advances are being witnessed in the development of highly sensitive, quantitative, and multiplex assays. Some of the new technologies include NGS and low-cost PCR devices available in the form of multiparameter assays and multiplexing devices for MRD testing.
The global MRD testing market (by application) is broadly segmented into hematological malignancy and solid tumor applications. The global MRD testing market (by application) is dominated by hematological malignancy, which held a share of 94.39% in 2021.
End users of the MRD market typically include hospitals and specialty clinics, research institutions, diagnostic laboratories, and others. Although hospitals and specialty clinics have been at the forefront of developing advanced technologies that incorporate several ancillaries for superior biological and chemical research, the applicability of MRD tests has been widespread among research institutions. Other end users, such as out-patient clinics and cancer clinics, also contribute significantly to the global MRD testing market.
In 2021, North America accounted for a share of 42.92% of the global minimal residual disease testing market. The segment is expected to reach $1,016.8 million in 2027 from $467.5 million in 2021 at a CAGR of 12.68% during the forecast period 2022-2027.
Following are the demand drivers for the global MRD testing market:
The market is expected to face some limitations too due to the following challenges:
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Total Number of Companies Profiled: 15 (11 public companies and 4 private companies).
Public companies include: ICON plc, Bio-Rad Laboratories, Inc., Adaptive Biotechnologies Corporation, Sysmex Corporation, Quest Diagnostics Incorporated, Opko Health, Inc., NeoGenomics Laboratories, Inc., Natera, Inc., Laboratory Corporation of America Holdings, F. Hoffmann-La Roche, and Guardant Health. The private company profiled are ARUP Laboratories, Cergentis B.V., Invivoscribe, Inc., and Mission Bio, Inc.