Solid Tumor Testing Market Growth, Expected to Reach US$ 45.56 Billion by 2030

Solid Tumor Testing Market Snapshot

“The Solid Tumor Testing Market is estimated to increase at a CAGR of 7.36% from $ 38.78 billion in 2023 to $ 45.56 Billion by 2030.”

Solid tumours are uncontrolled cell development without fluids or cysts, used to detect early cancers. Despite extensive research, they remain a leading cause of death. Tumor testing is divided into conventional and genetic testing, with genetic tests like FISH, RT-PCR, fragment analysis, and sequencing providing accurate information about malignancies.

High-throughput screening and genotyping analysis of tumour DNA help estimate individual patient cancer risk, enabling effective treatment planning.

The solid tumour testing market is expanding due to the increasing elderly population, increased cancer incidence, and demand for minimally invasive detection methods. Industry development among market players is expected to boost market expansion.

Bristol Myers Squibb plans to purchase Turning Point Therapeutics in March 2022 to strengthen its solid tumour testing market position. Seagen and LAVA Therapeutics have announced a strategic collaboration to develop LAVA-1223, an advanced epidermal growth factor receptor for solid tumor detection.

The American Cancer Society predicts 1.9 million new cancer cases and 609,360 deaths in the US in 2022, while the Department of Health and Human Services predicts 151,030 new cases of colorectal cancer by the end of the same year.

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Market Dynamics

Growth Drivers

Rising private diagnostic centres

The number of private diagnostic centres is increasing globally due to the growing demand for diagnostic imaging operations and the increasing burden on public hospitals due to limited imaging modalities. In January 2022, FUJIFILM Corporation opened NURA, a cancer screening medical screening center in Bangalore, India, operated by FUJIFILM DKH LLP and Dr. Kutty's Healthcare. This joint venture operates hospitals and screening facilities in India and the Middle East, generating market demand and driving the solid tumor testing market in the forecast period.

The US government's awareness programs on early breast cancer diagnosis and treatment are contributing to market growth. In May 2022, the HHS awarded community health centers USD 5 million to improve access to life-saving cancer screenings, which are expected to boost diagnosis and increase the use of solid tumor breast cancer therapies.

Restraints         

• Exclusive testing

Opportunities  

• Technological advancements have significantly impacted various aspects of our lives.
• The strategies employed by key players include acquisition, collaboration, and agreement.

Solid Tumor Testing Market Segment Analysis

Next-Generation Sequencing (NGS) is gaining importance in clinical molecular diagnostics due to its efficacy. However, it faces challenges in conventional labs due to high sequencing costs and data processing issues.

PCR techniques are crucial for targeted NGS sequencing, allowing simultaneous production of multiple libraries and sequencing of targeted regions. Combining NGS diagnosis with PCR procedures improves precision care and productivity.

The clinical sector, including hospitals, diagnostic laboratories, and reference laboratories, is integrating solid tumour testing services into routine healthcare operations. This comprehensive molecular diagnostics portfolio offers superior patient care and biomarker levels during hospital stays.

The expansion is attributed to efficient and scalable testing programs, delivering gold-standard patient care while lowering treatment costs. The aim is to provide broad tumour testing services, encouraging the growth of the Global Solid Tumour Testing Market.

Competitive Landscape of the Solid Tumor Testing Market Analysis

1. Abbott Laboratories
2. Agilent Technologies
3. 20/20 Gene Systems Inc.
4. Thermo Fisher Scientific, Inc.
5. Avant Diagnostics, Inc.
6. Advanced Cell Diagnostics, Inc.
7. Agena Bioscience, Inc.
8. Bio-Rad Laboratories, Inc.
9. Johnson & Johnson`
10. Biocare Medical, LLC.
11. ARUP Laboratories
12. Caris Life Sciences.
13. F. Hoffmann-La Roche Ltd
14. Genomic Testing Cooperative
15. Guardant Health
16. HTG Molecular Diagnostics, Inc.
17. Illumina, Inc.
18. Invitae Corporation
19. Invivoscribe, Inc.
20. Laboratory Corporation of America Holdings
21. NanoString
22. NeoGenomics Laboratories
23. Opko Health, Inc.
24. QIAGEN
25. Quest Diagnostics Incorporated.
26. Thermo Fisher Scientific, Inc.
27. VYANTbio.
28. MedGenome Labs Private Ltd.
29. Myraid Genetics, Inc.
30. Thermo Fisher Scientific, Inc.

New Developments in Solid Tumor Testing Market

October 16, 2023 — Janssen Aims to Define New Standards of Care in the Treatment of Solid Tumor Cancers with Transformative Data Planned for Presentation at ESMO

October 16, 2023 — The Janssen Pharmaceutical Companies of Johnson & Johnson announced today that nine oral presentations from the Company’s robust solid tumor portfolio and pipeline, with three highlighted in Presidential Symposium sessions, will be featured at the European Society for Medical Oncology (ESMO) 2023 Congress. In total, 19 studies (17 company-sponsored abstracts and two investigator-initiated studies), including seven late-breaking abstracts, will feature new data and updates in lung cancer, bladder cancer, and prostate cancer, highlighting Janssen’s pioneering efforts to transform the treatment of solid tumors.

April 18, 2023 – Under the theme “In pursuit of a life for every patient”, QIAGEN will host the Global Solid Tumor Summit to address the current challenges in cancer treatment and diagnostics. The global burden of cancer remains significant. Cancers account for nearly 10 million annual deaths worldwide [1], making cancer the second leading cause of death worldwide. Solid tumors make up more than 90% of those cancers.

Regional Outlook

The North American solid tumour testing market, which currently holds the largest share in 2022, is projected to grow at the fastest CAGR due to rising cancer incidence, increased public awareness, rapid molecular diagnostics market growth, major players, and developed healthcare infrastructure, as predicted.

The Asia-Pacific region is predicted to lead the global solid tumour testing market by the end of the forecast period, with the highest CAGR and highest revenue share due to rising cancer cases, geriatric populations, lifestyle changes, stress, and obesity.

China is predicted to lead the Asia-Pacific solid tumour testing market due to its growing population, expanding healthcare infrastructure, and government measures to raise cancer awareness. India's solid tumour testing market is expected to expand due to expanding medical tourism, a developing healthcare industry, and government initiatives and financing for R&D activities.

The Middle East and Africa are predicted to experience moderate CAGR growth in solid tumor testing, despite challenges such as high testing costs and limited healthcare infrastructure. The South American region is also expected to experience moderate growth, benefiting from increased government funding and R&D initiatives in the healthcare industry.

Segments Covered in the Solid Tumor Testing Market Report

By Type

• Genetic Testing (Genetic Test Type (Next generation sequencing (NGS)
• Real-time PCR (RT-PCR)
• Fluorescent In-Situ Hybridization (FISH)
• Fragment Analysis); Conventional Testing

By Application

• Prostate
• Breast
• Colorectal
• Endometrial
• Lung
• Melanoma
• Brain
• Thyroid
• Liver
• Ovarian

By End User

• Pharmaceutical and biotechnology companies
• Hospitals
• Contract research organizations
• Academic research institutions

The above information has been provided for the following regions and countries:

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Italy
• Russia

Asia Pacific

• China
• India
• Japan
• South Korea

Latin America

• Brazil
• Mexico

MEA

• UAE
• Saudi Arabia
• South Africa

Frequently Asked Questions

What is the expected growth rate of the Solid Tumor Testing market over the next 7 years?

The Solid Tumor Testing Market is estimated to increase at a CAGR of 7.36% from $ 38.78 billion in 2023 to $ 45.56 Billion by 2030.

Who are the major players in the Solid Tumor Testing market and what is their market share?

Abbott Laboratories, Agilent Technologies,20/20 Gene Systems Inc., Thermo Fisher Scientific, Inc., Avant Diagnostics, Inc., Advanced Cell Diagnostics, Inc., Agena Bioscience, Inc., Bio-Rad Laboratories, Inc.,Johnson & Johnson`, Biocare Medical, LLC.,ARUP Laboratories,C aris Life Sciences., F. Hoffmann-La Roche Ltd, Genomic Testing Cooperative, Guardant Health, HTG Molecular Diagnostics, Inc., Illumina, Inc., Invitae Corporation, Invivoscribe, Inc., Laboratory Corporation of America Holdings, NanoString, NeoGenomics Laboratories, Opko Health, Inc., QIAGEN,Quest Diagnostics Incorporated., Thermo Fisher Scientific, Inc., VYANTbio., MedGenome Labs Private Ltd., Myraid Genetics, Inc., Thermo Fisher Scientific, Inc, are prominent players operating and dominating in the market.

What is the demand projection for Solid Tumor Testing by 2030?

Demand for Solid Tumor Testing is projected to reach a market value of US$ 45.56 Billion by 2030-end.

What is the sales growth projection for Solid Tumor Testing?

Revenue from sales of Solid Tumor Testing is projected to increase at a CAGR of 7.36% through 2030.