PUBLISHER: The Business Research Company | PRODUCT CODE: 1670952
PUBLISHER: The Business Research Company | PRODUCT CODE: 1670952
Solid tumor testing involves diagnostic and molecular testing conducted on solid tumors, which are abnormal cell masses or growths that form in various body tissues. This type of testing is employed to detect cancer cells or cancer-related DNA in the blood of patients with solid tumors, even if the cancer is not yet visible on imaging tests.
The main types of solid tumor testing include genetic testing and conventional testing. Genetic testing is a medical test that examines an individual's DNA (genetic material) to identify changes or variations in genes, chromosomes, or proteins. This testing is applied in the treatment of various cancer types, including breast cancer, lung cancer, colorectal cancer, prostate cancer, and cervical cancer. Solid tumor testing serves various applications, including clinical and research purposes, and is utilized by diverse end-users such as hospitals, pharmaceutical and biotechnology companies, contract research organizations, and academic research institutions.
The solid tumor testing market research report is one of a series of new reports from The Business Research Company that provides solid tumor testing market statistics, including solid tumor testing industry global market size, regional shares, competitors with a solid tumor testing market share, detailed solid tumor testing market segments, market trends and opportunities, and any further data you may need to thrive in the solid tumor testing industry. This solid tumor testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The solid tumor testing market size has grown strongly in recent years. It will grow from $27.96 billion in 2024 to $30 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to personalized or precision medicine, poor tumor-selective drug delivery, low therapeutic efficacy, unsustainable costs, reductionist approaches to cancer chemotherapies
The solid tumor testing market size is expected to see strong growth in the next few years. It will grow to $40.06 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increasing prevalence of cancer, increasing healthcare infrastructure, emergence of ai and iot-based diagnostic devices, increasing government initiatives. Major trends in the forecast period include advancements in diagnostic tools, introduction of nanocarrier-based therapies, strategic collaborations, strategic collaborations, next-generation testing device.
The solid tumor testing market is anticipated to experience growth, driven by an increase in the prevalence of cancer. Cancer, characterized by the uncontrolled growth and spread of abnormal cells, often in the form of solid tumors, remains a significant health concern. Solid tumor testing plays a crucial role in detecting cancer cells, even before they are visible on imaging tests. As of June 2023, a report from the Centers for Disease Control and Prevention revealed 1,603,844 new cancer cases and 602,347 cancer-related deaths in the US in 2020. The escalating prevalence of cancer, with 403 new cases and 144 cancer-related deaths reported for every 100,000 people, is a key factor propelling the growth of the solid tumor testing market.
The increasing healthcare expenditure is significantly driving the growth of the solid tumor testing market. Healthcare expenditure encompasses all costs related to health services, family planning, nutrition activities, and emergency health aid, excluding expenses for drinking water and sanitation. The rise in healthcare spending and reimbursement support for cancer diagnostics is boosting the solid tumor testing market. By exploring innovative solutions and optimizing testing strategies, we can enhance cancer diagnosis effectiveness. For example, a report from the Office for National Statistics, a UK government department, revealed that between 2022 and 2023, healthcare spending in the UK grew by 5.6%, compared to a 0.9% increase in 2022. The UK's healthcare expenditure was approximately $317.63 billion (£292 billion) in 2023. Thus, the growing healthcare expenditure is expected to propel the solid tumor testing market.
A key trend in the solid tumor testing market is the emergence of innovative liquid biopsy test solutions. Major players in the market are actively engaged in developing liquid biopsy tests to enhance their market positions. In June 2020, NeoGenomics Inc., a US-based testing laboratory company, introduced a suite of three solid tumor liquid biopsy tests designed to detect cancer cells in the blood of patients with solid tumors. These tests offer non-invasive, early detection, and FDA-approved solutions, aiding in personalized treatment decisions with a quick turnaround time of seven days or fewer.
Companies in the solid tumor testing market are also focused on developing liquid biopsy platforms. These platforms utilize various technologies to analyze body fluids, typically blood, for cancer-related biomarkers. For instance, in January 2023, PrognomiQ, a US-based healthcare company, launched a multi-omics liquid biopsy platform. The platform is part of an ongoing prospective clinical program aiming to enroll 15,000 subjects, with a focus on leveraging multi-omics markers to distinguish between cancer and controls.
In June 2023, Quest Diagnostics, a US-based medical laboratory company, acquired Haystack Oncology Inc for $450 million. This acquisition is aimed at expanding access to liquid biopsy technology, strengthening research and development capabilities, and increasing market share in cancer diagnostics. Haystack Oncology Inc., an early-stage oncology company, specializes in developing solid tumor testing technology to improve outcomes for patients with cancer.
Major companies operating in the solid tumor testing market include Johnson & Johnson Ltd, Roche Diagnostics Corporation, Thermo Fisher Scientific Inc., Abbott Molecular Inc., Becton Dickinson And Company (BD), Quest Diagnostics Incorporated, Tosoh Corporation, Agilent Technologies Inc., bioMerieux Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., QIAGEN GmbH, Miltenyi Biotec GmbH, Natera Inc., Myriad Genetics Inc., Novocure Inc., Invitae Corporation, Guardant Health Inc., Foundation Medicine Inc., Epic Sciences Inc., Biocare Medical LLC, Agena Bioscience Inc., Caris Life Sciences Inc., 20/20 Gene Systems Inc., Grail Inc., Avant Diagnostics Inc., Genomic Testing Cooperative, Eutropics Pharmaceuticals Inc., Anixa Biosciences Inc., Cellular Biomedicine Group.
North America was the largest region in the solid tumor testing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solid tumor testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the solid tumor testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The solid tumor testing market consists of revenues earned by entities by providing molecular profiling, next-generation sequencing, immunohistochemistry, fluorescence in situ hybridization (FISH), and biomarker testing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Solid Tumor Testing Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on solid tumor testing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for solid tumor testing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The solid tumor testing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.