Labcorp Inc. (US) and F. Hoffmann-La Roche Ltd. (Switzerland) are Leading Players in the Minimal Residual Disease Testing Market
The global minimal residual disease testing market is projected to reach USD 2.3 billion by 2027, at a CAGR of 14.0%. Factors such as the rising prevalence of cancer and hematological malignancies, growing initiatives undertaken by government bodies to create awareness about cancer, and increasing collaborations are expected to drive the growth of the global minimal residual disease testing market during the forecast period. Emerging countries are expected to offer significant growth opportunities to market players in the coming years.
The key players in this market are Labcorp Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Guardant Health (US), Sysmex Corporation (Japan), NeoGenomics Laboratories, Inc. (US), Adaptive Biotechnologies Corporation (US), ArcherDX, Inc. (US), Asuragen Inc. (US), Arup Laboratories Inc. (US), Bio-Rad Laboratories, Inc. (US), Cergentis B.V. (Netherlands), Molecular MD (ICON plc) (Ireland), Invivoscribe, Inc. (US), Mission Bio, Inc. (US), Natera, Inc. (US), Opko Health, Inc. (US), Quest Diagnostics (US), and Genetron Health (China), among others.
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In 2021, Labcorp Inc. (US) held the leading position in the minimal residual disease testing market. The company has a strong geographical presence with a wide distribution network across North America, Europe, the Middle East & Africa, and the Asia Pacific. Labcorp offers a strong product portfolio of MRD testing and screening products and is known to focus on R&D activities as well as strategic acquisitions such as of AtlantiCare (US) and OmiSeq (US) to enhance its product portfolio.
In 2021, F. Hoffmann-La Roche Ltd. (Switzerland) accounted for the second-largest share of the minimal residual disease testing market. Roche is a major player due to its vast product offerings. The company focuses on innovation for holding its market share and relatively invests in R&D activities for this purpose. These investments in R&D are used for developing novel and innovative products. The company’s position in this market can also be attributed to its strong sales and distribution network across the globe. The company also works in collaborations and partnerships with third parties to offer integrated and better solutions. It has a wide geographic command across 180 countries throughout the Americas, Europe, Asia, and the Middle East & Africa.
Related Reports:
Minimal Residual Disease Testing Market by Technology (PCR, Flow Cytometry, NGS), Application (Leukemia, Lymphoma, Solid Tumors), End User(Hospitals, Specialty Clinics, Diagnostic Labs, Research and Academic Institutes) & Region - Global Forecast to 2027
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