Global Solid Tumor Testing Market Set to Achieve $40.06 Billion Milestone with Sustained 7.5% CAGR
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.
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What are the key drivers behind the rapid expansion of the solid tumor testing market?
An increase in the prevalence of cancer is expected to propel the growth of the solid tumor testing market going forward. Cancer is a condition marked by the body's aberrant cells growing and spreading out of control. These abnormal cells, known as cancer cells, can invade nearby tissues and organs and, in some cases, spread to other parts of the body through the bloodstream or lymphatic system. Most adult cancers are solid tumors, which is about 90%. Solid tumor testing is used to detect cancer cells in the blood of patients with solid tumors, even if the cancer is not yet visible on imaging tests. For instance, in June 2023, according to a report shared by the Centers for Disease Control and Prevention, a US-based national public health agency, there were 1,603,844 new cancer cases and 602,347 cancer-related deaths in the US in 2020, and 403 new cancer cases and 144 cancer-related deaths were reported for every 100,000 people. Therefore, the increasing prevalence of cancer is driving the growth of the solid tumor testing market.
What is the segmentation for the solid tumor testing market?
The solid tumor testing market covered in this report is segmented –
1) By Type: Genetic Testing, Conventional Testing
2) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Cervical Cancer
3) By Application: Clinical, Research
4) By End-Users: Hospitals, Pharmaceutical And Biotechnology Companies, Contract Research Organizations, Academic Research Institutions
Subsegments:
1) By Genetic Testing: Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Fluorescence In Situ Hybridization (FISH)
2) By Conventional Testing: Histopathology, Cytology, Imaging Techniques
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Who are the most influential companies in the solid tumor testing market?
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.
What are the most influential trends expected to drive the solid tumor testing market forward?
Innovative liquid biopsy test solutions are a key trend gaining popularity in the solid tumor testing market. Major companies operating in the solid tumor testing market are focused on developing innovative liquid biopsy test solutions to strengthen their position and gain a competitive advantage in the market. For instance, in June 2020, NeoGenomics Inc., a US-based testing laboratory company, launched its comprehensive suite of three solid tumor liquid biopsy tests for cancer patients. These innovative tests are designed to detect cancer cells in the blood of patients with solid tumors, even if the cancer is not yet visible on imaging tests. The tests can be used to help doctors make decisions about further testing or treatment. Additionally, it is non-invasive, has early detection, can be used to personalize treatment, and is FDA-approved. Moreover, these three new tests also have seven days or fewer turnaround times, which can save clinician’s considerable time.
What are the major regional insights for the solid tumor testing market, and which region holds the top position?
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
What Does The Solid Tumor Testing Market Report 2025 Offer?
The solid tumor testing market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Solid tumor testing refers to the diagnostic and molecular testing conducted on solid tumors, which are masses or growths of abnormal cells that form in various body tissues. Solid tumor testing is used to detect cancer cells or cancer-related DNA in patients' blood with solid tumors, even if the cancer is not yet visible on imaging tests.
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