Market Research Report

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 C...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
  • 187
  • HC10264

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: Forecast (2023-2028)

The reported incidence rates pertaining to various types of cancers, such as breast & lung, are constantly supplementing during the past few years. The demand for respective testing assay kits is significantly growing, owing to the upscaling prominence of early diagnosis to avoid further risks considering the rates being on a spike. Thus, in line with this, it is predicted that the Global Solid Tumor Testing Market would witness an upsurging demand in the coming years.

Global Solid Tumor Testing Market Trend:

Rising Adoption of Next-generation sequencing (NGS) technique in Solid Tumor Testing – Next-generation sequencing (NGS) is a technique used to analyze multiple genomes at a time. The growing incidence of chronic & life-threatening diseases like cancer demands fast & precise testing results for patient treatment. NGS technique also permits the technician to analyze epigenetic factors such as genome-wide DNA methylation & DNA-protein interactions, utilize RNA sequencing (RNA-Seq) to discover novel RNA variants & splice sites, and quantify mRNAs for gene expression analysis. All these factors result in an increased adoption rate of the NGS technique.

Thus, the advancement in technology of NGS technique & rapid testing results in the highest accuracy & precision. All these factors, along with its declining test cost, create a trend in the market of solid tumor testing in the forecasting period of 2023-28.

Global Solid Tumor Testing Market Challenge:

High Capital Requirement for Laboratory Set Up – The increasing incidence of cancer across the world is giving rise to the requirement for more molecular testing laboratories. Setting up a proper functional laboratory needs the necessary technology & medical equipment with highly skilled professionals for handling high throughput data to maintain the precision & accuracy of the testing result.

Since these results affect the patient report, their health, and the cost of the treatment as well, therefore, arranging all these things with precision requires a large sum of investment which emerge as a challenge for various small & mid-sized health institution in the world, which doesn’t have strong financial support & are not able to set up the laboratories in their institutions. Thus, hospitals & clinical institutions require a significant amount of capital for setting up a laboratory which results in a high cost of sequencing testing and would emerge as a restraint & hamper the growth of the Solid Tumor Testing Market in the forecasting period.

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

The Global Solid Tumor Testing Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the analysis, the market has been further classified as:

Based on Technologies:

  • In Situ Hybridization
  • Immunohistochemistry
  • Polymerase Chain Reaction
  • Next-Generation Sequencing
  • Other Technologies (Microarray, ELISA, and LC/MS)

Next-Generation Sequencing (NGS) is becoming an integral part of clinical molecular diagnostics due to the high efficacy of the test results. However, sequencing of the whole genome is still difficult to implement in a standard clinical laboratory setting. This is largely due to the factors such as the high costs of sequencing & issues surrounding data processing, analysis, and data storage, which can reduce efficiency & increase turnaround times. The role of PCR techniques in targeted NGS sequencing is vital as they allow for the simultaneous generation of multiple NGS libraries & the sequencing of multiple targeted regions. Additionally, greater precision care has also been obtained by the coupling of NGS diagnosis & PCR techniques.

Based on End Users:

  • Hospitals, Diagnostic Laboratories, and Reference Laboratories
  • Pharmaceutical & Biotechnology Companies
  • Contract Research Organizations (CROs)
  • Academic Research Institutions

Of them all, Hospitals, Diagnostic Laboratories, and Reference Laboratories, collectively forming the clinical sector, are at the forefront of adopting solid tumor testing services into routine healthcare procedures. Clinical services have incorporated an extensive molecular diagnostics portfolio to deliver superior care to patients, not just for routine diagnostic procedures but also to assess biomarker levels during hospital stays with treatment dissemination.

Additionally, the growth can be attributed to the launch of efficient & scalable testing programs, which have the potential to drive gold-standard patient care & lower the costs of treatment. Moreover, the focus of the clinical settings for incorporating molecular diagnostics is to provide extensive tumor testing services, hence encouraging Global Solid Tumor Testing Market growth.

Global Solid Tumor Testing Market Regional Projections:

Geographically, the Global Solid Tumor Testing Market expands across:

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

Of all the regions, the North American Solid Tumor Testing market is expected to be primarily driven by technological advancements to advance & broaden the overall scope of the oncology-based molecular diagnostic industry. These advanced research & development projects, which have a particular emphasis on clinical application, have aided in the advancement of translational research, clinical trials, molecular diagnostics, and drug development & discovery.

North America majorly comprises the US & Canadian markets. As a result of substantial investments in the co-development of targeted therapeutics & molecular diagnostics, the US dominated the market in 2020. Additionally, constant research is being conducted by various stakeholders to facilitate the development of products, such as kits & platforms, to reduce the overall clinical burden. Furthermore, when compared to other geographical regions, the North American region has a higher acceptance rate and awareness among patients, creating opportunities for the Global Solid Tumor Testing Market to grow.

Global Solid Tumor Testing Industry Recent Development

  • 2022: Illumina announced to launch of Tru Sight Oncology (TSO), a single test that evaluates multiple tumor genes & biomarkers to test specific molecular profiles of a patient.

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Frequently Asked Questions

   A. The Solid Tumor Testing Market is expected to record around 8.0% CAGR during 2023-28.

   A. The next-generation sequencing segment would create remunerative prospects for the key companies in the Solid Tumor Testing Market during 2023-28.

   A. The rise in the number of cancer patients is expected to drive the Solid Tumor Testing Market during 2022-2027

   A. The top players in the Solid Tumor Testing Market are 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.

   A. North America is expected to emerge as a promising region for the Solid Tumor Market to witness profitable opportunities in the years ahead.

   A. High cost of capital investment & incompatibility issues in different devices are the possible restraints affecting the growth of the Solid Tumor Testing Market during 2023-28

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

 

  1. Introduction
    1. Cancer Type Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Executive Summary
  3. Impact of COVID-19 on Global Solid Tumor Testing Market
  4. Global Solid Tumor Testing Market Trends & Insights
  5. Global Solid Tumor Testing Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  6. Global Solid Tumor Testing Market Regulations & Policy
  7. Global Solid Tumor Testing Market Patents & Intellectual Property Rights Analysis
  8. Global Solid Tumor Testing Market Hotspots & Opportunities
  9. Global Solid Tumor Testing Market Government Initiatives Landscape
  10. 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
  11. 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
  12. 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
  13. 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
  14. 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
  15. 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
  16. Global Solid Tumor Testing Market Key Strategic Imperatives for Success & Growth
  17. 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
  18. Disclaimer


Solid Tumor Testing Market segmentation