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Solid Tumor Testing Market

Solid Tumor Testing Market

by Type (Genetic Testing, Conventional Testing), by Application (Prostate, Breast, Colorectal, Endometrial, Lung, Melanoma, Brain, Thyroid, Liver, Ovarian, Others), by End User (Hospitals, Pharmaceutical and biotechnology companies, Contract research organizations, Academic research institutions): Global Opportunity Analysis and Industry Forecast, 2021-2031

Report Code: A04151
Pages: 225
Oct 2022 | 6307 Views
Author(s) : Vikita T , Onkar S
Tables: 171
Charts: 67
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Solid Tumor Testing Market Research, 2031

The global Solid Tumor Testing Market Size was valued at $23.8 billion in 2021, and is projected to reach $46.7 billion by 2031, growing at a CAGR of 7% from 2022 to 2031. A solid tumor is defined is as an uncontrolled growth of cells that do not contain liquid or cysts. Solid tumor testing is used for the diagnosis of tumors at early stages. A solid tumor is one of the leading causes of death, despite enormous efforts to explore solid tumor biology and developed test for the diagnosis of solid tumors. Solid tumor testing is done by two types i.e genetic testing, and conventional testing. Genetic testing such as next-generation sequencing (NGS), real-time PCR (RT-PCR), fluorescent In-Situ hybridization (FISH), and fragment analysis are mostly used to provide specific information about the genetic and molecular makeup of tumors. Solid tumor enables estimating the individual patient risk of cancer by performing high throughput genotyping analysis of tumor DNA and predicting the reaction outcome of the therapy.

The COVID-19 outbreak is anticipated to have a negative impact on the Solid tumor testing market as a huge number of medical colleges and hospitals across the globe were reconstructed to increase hospital capacity for patients diagnosed with COVID-19. Thus, the pandemic has significantly and negatively altered the way cancer patients are being diagnosed and treated in the near term. For instance, according to a review article by the National library of medicine published in 2020, it is estimated that as a result of COVID-19, screenings for cancers of the breast, colon, and cervix have dropped by 94%, 86%, and 94% between January 20, 2020, and April 21, 2020, respectively

Solid Tumor Testing Market

The solid tumor testing market has witnessed growth, owing to an increase in the geriatric population that is prone to solid tumors, a rise in the prevalence of bladder tumors, prostate tumors, breast tumors, colorectal tumors, endometrial tumors, lung tumors, melanoma tumors, brain tumor, thyroid tumor, liver tumor, ovarian tumor & other tumors, and rise in demand for the minimally invasive procedure for the diagnosis of solid tumors across the world are the key factors that provide lucrative Solid Tumor Testing Market Opportunity in upcoming years.

For instance, according to the American Cancer Society, in the U.S. approximately 1.9 million new cancer cases are expected to be diagnosed, with 609,360 cancer deaths in 2022. According to the National Cancer Institute of the U.S. Department of Health and Human Services, about 151,030 new cases of colorectal cancer are expected to be diagnosed in the U.S. by the end of 2022. Furthermore, an estimated 1,369,004 people in the U.S. were living with colorectal cancer in 2019, and around 4.1% of men and women are expected to be diagnosed with colorectal cancer at some point of time in their life.

Moreover, a rise in unhealthy lifestyles, rise in smoking, consumption of alcohol, the surge in the use of supplements & steroids, and an upsurge in the use of fertilizers is expected to increase the cases of solid tumors and boost the growth of the solid tumor testing market. In addition, technological advancements; the launch of various products, and strategies among key players such as acquisition, collaboration, and agreement drive the growth of the solid tumor testing market.

 For instance, in August 2021, Roche announced that it has U.S. Food and Drug Administration (FDA) approval of the VENTANA MMR RxDx Panel, advancing the company's commitment to personalized healthcare through tests that determine which patients are most likely to benefit from specific and targeted therapies. The VENTANA MMR RxDx Panel is the first companion diagnostic test to aid in identifying patients whose solid tumors are deficient in DNA mismatch repair (dMMR).

The solid tumor testing market is segmented into type, application, end-user, and region. By type, the market is bifurcated into genetic testing and conventional testing. The genetic testing segment is further classified into next-generation sequencing (NGS), real-time PCR (RT-PCR), fluorescent In-Situ hybridization (FISH), and fragment analysis. By application, the market is fragmented into prostate, breast, colorectal, endometrial, lung, melanoma, brain, thyroid, liver, ovarian, and others (vaginal & vulvar, bladder, cervical, head & neck, and mesothelioma). By end user, the market is categorized into hospitals, pharmaceutical, and biotechnology companies, contract research organizations, and academic research institutions.

Region-wise, the Solid Tumor Testing Industry is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Segment Review

Based on type, the genetic testing segment generated maximum revenue in 2021, owing to a rising increase in the use of genetic testing in solid tumor testing for the diagnosis of tumors, an increase in the advancement of genetic testing products, and a rise in awareness regarding genetic testing for the diagnosis of solid tumor are the key factors that drives the growth of Solid Tumor Testing Market Size in upcoming years.

Solid Tumor Testing Market
By Type

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The genetic testing segment holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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Based on application, the melanoma segment has the highest  Solid Tumor Testing Market Share in 2021, owing to an increase in the prevalence of skin tumors among others across the world, an increase in an unhealthy lifestyle, and an increase in the use of chemicals in cosmetic products.

Solid Tumor Testing Market
By Application

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The melanoma segment holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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Based on end-user, the hospital segment was the highestSolid Tumor Testing Market Share in 2021, owing to an increase in the prevalence of tumor cases, and chronic diseases and a rise in the number of patient admissions. The presence of a specialist doctor for particular diseases propels the growth of the hospital segment in the solid tumor testing market.

Solid Tumor Testing Market
By End User

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The hospitals segment holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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Based on region, North America dominated the solid tumor testing market in 2021, owing to an increase in cases of cancer of different organs, robust healthcare infrastructure, presence of key players, and rise in healthcare expenditure. Asia-Pacific is anticipated to witness lucrative growth owing to an increase in medical tourism, implementation of new ICT guidelines in Japan, investments & reforms to modernize China’s healthcare infrastructure, and rapid growth in the healthcare industry in India are the key factors that drive the Solid Tumor Testing Market Growth in forecast periods.

Solid Tumor Testing Market
By Region

2031
North America 
Europe
Asia-pacific
Lamea

The north america segment holds a dominant position in 2021 and would continue to maintain the lead over the forecast period.

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The key players operating in the Solid Tumor Testing Industry are Abbott Laboratories, Agilent Technologies, Biocare Medical, LLC., F. Hoffmann-La Roche Ltd, Illumina, Inc., MedGenome, Myriad Genetics, QIAGEN N.V., Quest Diagnostics and Thermo Fischer Scientific, Inc.

 

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solid tumor testing market analysis from 2021 to 2031 to identify the prevailing solid tumor testing market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the solid tumor testing market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global solid tumor testing market trends, key players, market segments, application areas, and market growth strategies.

Solid Tumor Testing Market Report Highlights

Aspects Details
Market Size By 2031 USD 46.7 billion
Growth Rate CAGR of 7%
Forecast period 2021 - 2031
Report Pages 225
Type
  • Genetic Testing
    • Genetic Test Type
      • Next generation sequencing (NGS)
      • Real-time PCR (RT-PCR)
      • Fluorescent In-Situ Hybridization (FISH)
      • Fragment Analysis
  • Conventional Testing
Application
  • Prostate
  • Breast
  • Colorectal
  • Endometrial
  • Lung
  • Melanoma
  • Brain
  • Thyroid
  • Liver
  • Ovarian
  • Others
End User
  • Hospitals
  • Pharmaceutical and biotechnology companies
  • Contract research organizations
  • Academic research institutions
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest Of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest Of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest Of LAMEA)
Key Market Players QIAGEN, QUEST DIAGNOSTICS INCORPORATED, Abbott Laboratories, Agilent Technologies Inc., Biocare Medical LLC, , F. Hoffmann-La Roche AG, ILLUMINA, INC., MedGenome Labs Private Ltd, MYRIAD GENETICS, INC., Thermo Fisher Scientific, Inc.
 

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This section provides various opinions of top-level CXOs in the solid tumor testing market. By several interviews conducted, the solid tumor testing market is expected to witness significant growth in the future owing to the increase in the prevalence of cancer across the world.

According to the perspectives of CXOs, the global solid tumor testing market is expected to witness steady growth in the future. The surge in geriatric population, increase in an unhealthy lifestyles, rise in smoking,  and consumption of alcohol boost the growth of the solid tumor testing market. The rise in number of cancer cases has led to an increase in a number of therapies to treat the solid tumors, increasing the need for prognostic and diagnostic tests, especially solid tumor tests. These tests serve this purpose by evaluating the best approach for tumor treatment, understanding the molecular characteristics of the tumor, predicting the probability of tumor recurrence, and improving the patient stratification along with real-time monitoring of therapies In addition, increase in preference of healthcare professional for solid tumor tests to determine appropriate tumor therapy and to understand the onset of the tumor drives the growth of the solid tumor testing market. Solid tumor testing is expected to help improve the patient survival rate and reduce the cost of treatment for tumor patients, owing to the help provided in the prediction of the drug therapeutic targets.

However, the lack of skilled professionals is expected to hamper the growth of the market to some extent during the forecast period. On the contrary, a rise in advancements in technical skills and an increase in several type approvals are expected to provide opportunities for the growth of the global chronic disease management market in the future.

Further, North America is expected to witness the highest growth, in terms of revenue, owing to an increase in the technological advancement of solid tumor testing products and an increase in the prevalence of chronic diseases. Asia-Pacific is expected to register the fastest CAGR during the forecast period, owing to an increase in the geriatric population, and a rise in awareness about genetic testing of solid tumors.

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FREQUENTLY ASKED QUESTIONS?

A. The base year for the report is 2021

A. Yes, Solid Tumor Testing Market companies are profiled in the report

A. No, there is a value chain analysis provided in the Solid Tumor Testing Market report

A. Abbott Laboratories, Agilent Technologies, Biocare Medical, LLC., F. Hoffmann-La Roche Ltd are the top companies to hold the market share in Solid Tumor Testing.

A. North America is the largest regional market for Solid Tumor Testing

A. $ 46,722.2 million is the estimated industry size of Solid Tumor Testing

A. The upcoming trends are an increase in the geriatric population that is prone to solid tumors, a rise in the prevalence of bladder tumors, prostate tumors, breast tumors, colorectal tumors, endometrial tumors, lung tumors, melanoma tumors, brain tumor, thyroid tumor, liver tumor, ovarian tumor & other tumors, and rise in demand for the minimally invasive procedure for the diagnosis of solid tumors

A. The market value of Solid Tumor Testing Market in 2021 was 23,751.4 Million

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