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A04151 | Pages: 225 | Charts: 67 | Tables: 171 |
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.
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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.
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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.
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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.
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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.
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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.
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Key Market Segments
Key Market Players