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Global Solid Tumor Testing Market to reach USD 43.76 billion by the end of 2030.

Global Solid Tumor Testing Market Size study & Forecast, by Type (Genetic Testing, Conventional Testing), by Application (Prostate, Breast, Colorectal, Endometrial, Lung, Melanoma, Brain, Others), by End Use (Hospitals, Pharmaceutical and biotechnology companies, Contract research organizations, Academic research institutions) and Regional Analysis, 2023-2030

Product Code: HLSMD-13597981
Publish Date: 10-06-2023
Page: 200

Global Solid Tumor Testing Market is valued at approximately USD 25.47 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.0% over the forecast period 2023-2030. A solid tumour is characterized as an uncontrolled cell development that does not include fluids or cysts. For the early-stage diagnosis of tumors, solid tumour testing is used. Despite significant research into the biology of solid tumors and the development of tests for the detection of solid tumors, they remain one of the main causes of death. Genetic and conventional testing are the two methods used to diagnose solid tumors. The Solid Tumor Testing market is expanding because of factors such as the rising prevalence of cancer and new product approvals in ovarian, pancreatic, and prostate cancers.

The rising prevalence of cancer globally is fostering market growth, according to estimates from the International Agency for Research on Cancer (IARC), it is estimated worldwide burden of cancer is projected to reach 27.5 million new cases by 2040 from 1.9 million new cases in the year 2021. In addition, Increasing Government Initiatives for Cancer Awareness, and the presence of developed healthcare infrastructure are creating lucrative growth in the market. Moreover, the development of the solid tumour testing market is also fueled by technical improvements, the introduction of several products, and key competitors’ acquisition, partnership, and agreement tactics. For instance, Roche announced in August 2021 that the VENTANA MMR RxDx Panel has received approval from the U.S. Food and Drug Administration (FDA), advancing the company’s commitment to personalized healthcare through tests that identify which patients are most likely to benefit from particular and targeted therapies. The first companion diagnostic test to help with patient identification whose solid tumors are defective in DNA mismatch repair (dMMR) is the VENTANA MMR RxDx Panel. However, the high cost of Solid Tumor Testing stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Solid Tumor Testing Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue due to the prevalence of important market players and the increased frequency of diseases in the area. On the other hand, the Asia Pacific region is projected to have the highest CAGR during the forecast period due to a variety of factors, such as an increase in the target and geriatric populations, an increase in the number of product development collaborations, the geographic expansion of major players, and active participation by nonprofit and governmental organisations in the market..

Major market player included in this report are:
Quest Diagnostics Inc
Abbott Laboratories
Agilent Technologies Inc.
Biocare Medical LLC
F. Hoffmann-La Roche AG
Illumina, Inc.
MedGenome Labs Private Ltd
Myriad Genetics, Inc.
Thermo Fisher Scientific, Inc

Recent Developments in the Market:
Ø In December 2022, Leading biotechnology firm DragonFly Therapeutics, Inc. reported that the Phase-2 research of HER2 targeting TriNKET in patients with advanced solid tumors had dosed its first patient.
Ø In November 2022, CatalYm c announced it raised USD 54.77 million to boost its solid tumor trials and develop new testing.

Global Solid Tumor Testing Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, End Use Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East& Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Genetic Testing
Conventional Testing

By Application:

By End Use:
Pharmaceutical and biotechnology companies
Contract research organizations
Academic research institutions

By Region:
North America
Asia Pacific
South Korea
Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Solid Tumor Testing Market, by Region, 2020-2030 (USD Billion)
1.2.2. Solid Tumor Testing Market, by Type, 2020-2030 (USD Billion)
1.2.3. Solid Tumor Testing Market, by Application, 2020-2030 (USD Billion)
1.2.4. Solid Tumor Testing Market, by End Use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Solid Tumor Testing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Solid Tumor Testing Market Dynamics
3.1. Solid Tumor Testing Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing prevalence of cancer New product approvals in ovarian, pancreatic, and prostate cancers.
3.1.2. Market Challenges High Cost of Solid Tumor Testing
3.1.3. Market Opportunities Increasing Government Initiatives for Cancer Awareness Rising development of personalised treatment Presence of developed healthcare infrastructure
Chapter 4. Global Solid Tumor Testing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Solid Tumor Testing Market, by Type
5.1. Market Snapshot
5.2. Global Solid Tumor Testing Market by Type, Performance – Potential Analysis
5.3. Global Solid Tumor Testing Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Solid Tumor Testing Market, Sub Segment Analysis
5.4.1. Genetic Testing
5.4.2. Conventional Testing
Chapter 6. Global Solid Tumor Testing Market, by Application
6.1. Market Snapshot
6.2. Global Solid Tumor Testing Market by Application, Performance – Potential Analysis
6.3. Global Solid Tumor Testing Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Solid Tumor Testing Market, Sub Segment Analysis
6.4.1. Prostate
6.4.2. Breast
6.4.3. Colorectal
6.4.4. Endometrial
6.4.5. Lung
6.4.6. Melanoma
6.4.7. Brain
6.4.8. Others
Chapter 7. Global Solid Tumor Testing Market, by End Use
7.1. Market Snapshot
7.2. Global Solid Tumor Testing Market by End Use, Performance – Potential Analysis
7.3. Global Solid Tumor Testing Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
7.4. Solid Tumor Testing Market, Sub Segment Analysis
7.4.1. Hospitals
7.4.2. Pharmaceutical and biotechnology companies
7.4.3. Contract research organizations
7.4.4. Academic research institutions
Chapter 8. Global Solid Tumor Testing Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Solid Tumor Testing Market, Regional Market Snapshot
8.4. North America Solid Tumor Testing Market
8.4.1. U.S. Solid Tumor Testing Market Type breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 End Use breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Solid Tumor Testing Market
8.5. Europe Solid Tumor Testing Market Snapshot
8.5.1. U.K. Solid Tumor Testing Market
8.5.2. Germany Solid Tumor Testing Market
8.5.3. France Solid Tumor Testing Market
8.5.4. Spain Solid Tumor Testing Market
8.5.5. Italy Solid Tumor Testing Market
8.5.6. Rest of Europe Solid Tumor Testing Market
8.6. Asia-Pacific Solid Tumor Testing Market Snapshot
8.6.1. China Solid Tumor Testing Market
8.6.2. India Solid Tumor Testing Market
8.6.3. Japan Solid Tumor Testing Market
8.6.4. Australia Solid Tumor Testing Market
8.6.5. South Korea Solid Tumor Testing Market
8.6.6. Rest of Asia Pacific Solid Tumor Testing Market
8.7. Latin America Solid Tumor Testing Market Snapshot
8.7.1. Brazil Solid Tumor Testing Market
8.7.2. Mexico Solid Tumor Testing Market
8.8. Rest of The World Solid Tumor Testing Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Qiagen Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Quest Diagnostics Inc
9.3.3. Abbott Laboratories
9.3.4. Agilent Technologies Inc.
9.3.5. Biocare Medical LLC
9.3.6. F. Hoffmann-La Roche AG
9.3.7. Illumina, Inc.
9.3.8. MedGenome Labs Private Ltd
9.3.9. Myriad Genetics, Inc.
9.3.10. Thermo Fisher Scientific, Inc
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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