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Global Solid Tumor Testing Market Research Report: Forecast (2023-2028)

By Type of Cancer (Prostate Cancer, Breast Cancer, Colorectal Cancer, Endometrial Cancer, Melanoma, Lung Cancer, Thyroid Cancer, Brain Cancer, Ovarian Cancer, Liver Cancer, Other Cancer Types), By App... ... ancer Types), By Application (Clinical [Diagnostics, Treatment and Monitoring, Screening, Prognostics], Research [Biomarker Discovery, Personalized Medicine]), By End Users (Hospitals, Diagnostic Laboratories, and Reference Laboratories, Pharmaceutical & Biotechnology Companies, Contract Research Organizations [CROs], Academic Research Institutions, Others), By Technologies (In Situ Hybridization, Immunohistochemistry, Polymerase Chain Reaction, Next-Generation Sequencing, Other Technologies), By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific), By Company (Abbott Laboratories, ARUP Laboratories, ASURAGEN, INC., Bio-Rad Laboratories, Inc, Beijing Genomics Institute (BGI) Genomics Co., Ltd, F. Hoffmann-La Roche Ltd, Guardant Health, Illumina, Inc., Invivoscribe, Inc., Invitae Corporation, Laboratory Corporation of America Holdings, NeoGenomics Laboratories, Inc., Opko Health, OmniSeq, QIAGEN N.V, Quest Diagnostics Inc, Others) Read more

Healthcare
Aug 2023
Pages 187
Report Format: PDF, Excel, PPT

Market Definition

The term 'solid tumor' refers to an abnormal mass of tissue that does not contain liquid or cyst areas. Solid tumors can be benign or malignant and are divided based on affected cell lineage into sarcomas, carcinomas, and lymphomas. Over the past few years, genomic analysis has impacted the diagnosis, prognostication, monitoring, and treatment decision-making for different solid tumors. This has led to a continuous improvement in the development of molecular diagnostic technologies for the genomic evaluation of various tumors which shows a positive impact on the growth of solid tumor testing market.

Market Insights & Analysis: Global Solid Tumor Testing Market (2023-28)

The Global Solid Tumor Testing Market size is projected to grow at a CAGR of around 8.0% during the forecast period, 2023-28. In recent years, genomic analysis has impacted the diagnosis, prognostication, monitoring, and treatment decision-making for different solid tumors. This has led to a continuous improvement in the development of molecular diagnostic technologies for the genomic evaluation of various solid tumors. Factors such as the rising incidence of cancer, increasing demand for personalized medicine, use of biomarkers in cancer profiling, improvement in cancer research funding, and technological advancements in the field of solid tumor testing are expected to drive the growth of the market. However, the high capital requirement for setting up a laboratory serves as a major challenge for the industry.

An increased understanding of the molecular & genomic underpinnings of tumorigenesis & their exploitation in the development of targeted therapies has revolutionized cancer treatment all across the world. The identification of biomarkers has been a prerequisite for the success of these targeted therapies to confirm target inhibition, guide patient selection, and understand mechanisms of resistance. While the clinical utility of biomarkers has been a long-established fact for the screening & diagnosis of patients, research on developing targeted therapeutics has emerged as a rapidly growing industry for tumor testing services.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	8.0%
Regions Covered	North America: US, Canada, Mexico
	Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, Australia, Singapore, Rest of Asia-Pacific
	South America: Brazil, Rest of South America
	Middle East & Africa: Middle East, Africa
Key Companies Profiled	Abbott Laboratories, ARUP Laboratories, ASURAGEN, INC., Bio-Rad Laboratories, Inc, Beijing Genomics Institute (BGI) Genomics Co., Ltd, F. Hoffmann-La Roche Ltd, Guardant Health, Illumina, Inc., Invivoscribe, Inc., Invitae Corporation, Laboratory Corporation of America Holdings, NeoGenomics Laboratories, Inc., Opko Health, OmniSeq, QIAGEN N.V, Quest Diagnostics Inc, Others
Unit Denominations	USD Million/Billion

Nevertheless, high investment in setting up devices for solid tumors would obstruct market growth. As the cost of these medical devices is high, and they also require skilled labor, which enhances the expenditure of whole procedures, and that would further deter the growth of the Solid Tumor Testing Market in the forecast period. The adoption of testing techniques by hospitals, diagnostic laboratories, and reference laboratories, collectively forming the clinical sector, is at the forefront of adopting solid tumor testing services into routine healthcare procedures. This, in turn, is presumed to aid in enhancing the revenue growth of the market in the following years.

Global Solid Tumor Testing Market Driver:

Mounting Incidence of Cancer to Augment the Market Growth – The rising number of cancer patients in the world is the leading cause of the Global Solid Tumor Testing Market growth. The increasing geriatric population coupled with a sedentary lifestyle & other hereditary risk factors, are the major factors for the spike of cancer cases worldwide. For instance, the recent incidence trends projected by the American Cancer Society for FY2021 indicate a slight boost of nearly 2.50% compared to the earlier projections being postulated for FY2020.

Global Solid Tumor Testing Market Research Report (2023-2028) - Table of Contents

Introduction
1. Cancer Type Definition
2. Research Process
3. Assumptions
4. Market Segmentation
Executive Summary
Impact of COVID-19 on Global Solid Tumor Testing Market
Global Solid Tumor Testing Market Trends & Insights
Global Solid Tumor Testing Market Dynamics
1. Drivers
2. Challenges
3. Impact Analysis
Global Solid Tumor Testing Market Regulations & Policy
Global Solid Tumor Testing Market Patents & Intellectual Property Rights Analysis
Global Solid Tumor Testing Market Hotspots & Opportunities
Global Solid Tumor Testing Market Government Initiatives Landscape
Global Solid Tumor Testing Market Analysis, 2018-2028
1. Market Size & Analysis
  1. By Revenue
2. Market Share & Analysis
  1. By Cancer Type
    1. Prostate Cancer
    2. Breast Cancer
    3. Colorectal Cancer
    4. Endometrial Cancer
    5. Melanoma
    6. Lung Cancer
    7. Thyroid Cancer
    8. Brain Cancer
    9. Ovarian Cancer
    10. Liver Cancer
    11. Other Cancer Types
  2. By Application
    1. Clinical
      1. Diagnostics
      2. Treatment and Monitoring
      3. Screening
      4. Prognostics
    2. Research
      1. Biomarker Discovery
      2. Personalized Medicine
  3. By End Users
    1. Hospitals, Diagnostic Laboratories, and Reference Laboratories
    2. Pharmaceutical & Biotechnology Companies
    3. Contract Research Organizations (CROs)
    4. Academic Research Institutions
    5. Other End Users
  4. By Technologies
    1. In Situ Hybridization
    2. Immunohistochemistry
    3. Polymerase Chain Reaction
    4. Next-Generation Sequencing
    5. Other Technologies (Microarray, ELISA, and LC/MS)
  5. By Region
    1. North America
    2. South America
    3. Europe
    4. Middle East & Africa
    5. Asia Pacific
  6. By Company
    1. Competition Characteristics
    2. Revenue Shares
    3. Competitor Placement in MarkNtel Quadrant
North America Solid Tumor Testing Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenue
2. Market Share & Analysis
  1. By Cancer Type
  2. By Application
  3. By Technology
  4. By Country
    1. The US
    2. Canada
    3. Mexico
3. The US Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
4. Canada Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
5. Mexico Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
South America Solid Tumor Testing Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenue
2. Market Share & Analysis
  1. By Cancer Type
  2. By Application
  3. By Technology
  4. By Country
    1. Brazil
    2. Rest of South America
3. Brazil Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
Europe Solid Tumor Testing Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenue
2. Market Share & Analysis
  1. By Cancer Type
  2. By Application
  3. By Technology
  4. By Country
    1. Germany
    2. The UK
    3. France
    4. Italy
    5. Spain
    6. Rest of Europe
3. Germany Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
4. The UK Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
5. France Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
6. Italy Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
7. Spain Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
Middle East & Africa Solid Tumor Testing Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenue
2. Market Share & Analysis
  1. By Cancer Type
  2. By Application
  3. By Technology
3. Middle East Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
4. Africa Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
Asia Pacific Solid Tumor Testing Market Outlook, 2018-2028
1. Market Size & Analysis
  1. By Revenue
2. Market Share & Analysis
  1. By Application
  2. By Cancer Type
  3. By Country
    1. China
    2. India
    3. Japan
    4. Singapore
    5. Australia
    6. Rest of Asia Pacific
3. China Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
4. India Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
5. Japan Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
6. Australia Solid Tumor Testing Market Outlook, 2018-2028
  1. Market Size & Analysis
    1. By Revenue
  2. Market Share & Analysis
    1. By Cancer Type
Global Solid Tumor Testing Market Key Strategic Imperatives for Success & Growth
Competition Matrix
1. Competition Matrix
  1. Brand Specialization
  2. Target Markets
  3. Target End Users
  4. Research & Development
  5. Strategic Alliances
  6. Strategic Initiatives
2. Company Profile (Business Description, Cancer Type Segment, Business Segment, Financials, Strategic Alliances or Partnerships, Future Plans)
  1. Abbott Laboratories
  2. ARUP Laboratories
  3. ASURAGEN, INC.
  4. Bio-Rad Laboratories, Inc
  5. Beijing Genomics Institute (BGI) Genomics Co., Ltd
  6. F. Hoffmann-La Roche Ltd
  7. Guardant Health
  8. Illumina, Inc.
  9. Invivoscribe, Inc.
  10. Invitae Corporation
  11. Laboratory Corporation of America Holdings
  12. NeoGenomics Laboratories, Inc.
  13. Opko Health
  14. OmniSeq
  15. QIAGEN N.V
  16. Quest Diagnostics Inc
  17. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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