PUBLISHER: Allied Market Research | PRODUCT CODE: 1193005
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193005
The global solid tumor testing market was valued at $ 23,751.4 million in 2021 and is projected to reach $ 46,722.2 million by 2031, registering a CAGR of 7.0% from 2022 to 2031. Solid tumor testing is a procedure used to evaluate the primary tumors and determine the extent/location of any metastases. The tumor testing in turn allows effective treatment options to be considered so that the spread of cancerous cells can be avoided. A tumor is an abnormal clump of cells. When someone has a solid tumor, that means the tumor doesn't contain any liquid or cysts. Solid tumor testing is a valuable technique that is used for the identification and visualization of solid tumors in clinical diagnostics.
In addition, Solid tumors can be tested through genetic testing and conventional testing. In genetic testing, there are various techniques such as next-generation sequencing (NGS), real-time PCR (RT-PCR), fluorescent In-Situ hybridization (FISH), and fragment analysis that are used for the diagnosis of tumors at early stages. In conventional testing, urine and blood tests, computerized tomography (CT) scan, bone scan, magnetic resonance imaging (MRI), positron emission tomography (PET) scan, ultrasound and X-ray, and biopsy are used for the diagnosis of solid tumors.
The key factors that drive the growth of the market are an increase in the prevalence of the geriatric population that is prone to solid tumors, a rise in the prevalence of solid tumors in the world, and a rise in healthcare expenditure boosts the market growth.
For instance, according to American Cancer Society January 2021, estimated new cancer cases of Female breast (281,550), Uterine cervix (14,480), Colon & rectum (149,500), Uterine corpus (66,570), Lung & bronchus (235,760), Melanoma of the skin (106,110), non-Hodgkin lymphoma (81,560), Prostate (248,530), Urinary bladder (83,730) were diagnosed in 2021 in the U.S. Each year, approximately 4,00,000 children develop cancer. Overall cancer incidence rates, or rates of new cancers, continue to rise slightly in women and children
However, the dearth of skilled professionals restricts the market growth in the forecast period. Moreover, the rise in technological advancements in solid tumor testing, the increase in several type approvals, and the availability of reimbursements for solid tumor testing tests offer lucrative opportunities to the market players operating in the solid tumor testing market.
The global Solid tumor testing market is segmented into type, application, end-user, and region. By type, the market is categorized 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 segmented 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. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global Solid tumor testing market 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
By Type
By Application
By End User
By Region