Solid Tumour Testing Market Size is projected to reach USD 40 Billion by 2030, growing at a CAGR of 6.2%: Straits Research

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The global solid tumor testing market size was valued at USD 23.65 billion in 2021. It is expected to reach USD 40.64 billion by 2030, growing at a CAGR of 6.2% during the forecast period (2022–2030). North America is expected to lead the global solid tumor testing market during the forecast period

New York, United States, Aug. 16, 2022 (GLOBE NEWSWIRE) -- Solid Tumors Form when cancerous tissues accumulate. Solid tumors are not cystic or liquid. Depending on their characteristics, solid tumors can be benign or malignant. Solid tumor treatment requires coordination among surgeons, radiologists, radiation specialists, oncologists, and others. Chemotherapy, radiation therapy, and surgery are the primary treatments for most solid tumors. Solid tumors contain cancer cells, cancer stem cells, connective-tissue cells, and immune cells, and the location of a tumor determines whether it is benign or malignant.

Chemotherapy is mainly combined with surgery and radiation for solid tumors. Solid tumor therapies treat lung, breast, prostate, colorectal, and cervical cancers. The global oncology market shows solid tumor therapies are the most effective anti-cancer treatments.


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Increased Spending on Research and Development and Healthcare Infrastructure Drives the Global Market

Rising healthcare costs, which improve the industry's infrastructure, also impact solid tumor market growth. Several government organizations are increasing funding for healthcare infrastructure, which will affect market dynamics. Increasing public and private initiatives to raise awareness and demand for effective chemotherapeutic agents will grow the solid tumors market. Sedentary lifestyles and multiple solid tumor cases also contribute to market growth. Increasing discretionary income and the older adult population is expected to boost the market growth.

Growing Research in Healthcare Creates Tremendous Opportunities                 

Additionally, more research and development activities have been happening on the market. The solid tumors market is expected to grow due to increased investment in advanced technologies and the number of new markets. Increasing public and private efforts to raise awareness and growing demand for highly effective chemotherapeutic agents will provide great opportunities in the market for solid tumors.


Report Scope

Report Metric

Details

Market Size

USD 40.64 Billion by 2030

CAGR

6.2% (2020-2030)

Historical Data

2019-2020

Base Year

2021

Forecast Period

2022-2030

Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Type, Cancer Type, End-User and Regions

Geographies Covered

North America, Europe, Asia-Pacific, LAME and Rest of the World

Key Companies Profiled/Vendors

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.

Key Market Opportunities

Rising Number of Research and Development Projects to Boost Market Opportunities

Key Market Drivers

Increase in the Prevalence of Various Cancer Types to Impede the Market Growth
Increased Spending on Research and Development to Drive Market

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Regional Analysis

North America is expected to lead the global solid tumor testing market during the forecast period, because of the growing incidence of solid tumors in this region and the rapid development of new technologies for their treatment. In addition, increasing expenditures on healthcare and the presence of major key players are expected to propel the market's growth rate further.


Key Highlights

  • The global solid tumor testing market was valued at USD 23.65 billion in 2021. It is expected to reach USD 40.64 billion by 2030, growing at a CAGR of 6.20% during the forecast period (2022–2030).

  • Based on type, this market will be divided into categories such as Genetic Testing and Conventional Testing. Genetic Testing is anticipated to grow at the most rapid rate during the forecast period.

  • Based on the application, the market can be divided into two main types: Вrеаѕt Саnсеr, Сеrvісаl Саnсеr, Рrоѕtаtе Саnсеr, Lung Саnсеr, аnd Соlоrесtаl Саnсеr. Breast cancer will lead to the global solid tumor market.

  • Based on the end-user, the market can be divided into hospitals, Pharmaceutical and Biotechnology Companies, Contract Research Organizations, and Academic Research Institutions. Hospitals will dominate the global solid tumor market.

  • North America is expected to lead the global solid tumor testing market during the forecast period.


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Competitive Analysis

  • 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.


Global Solid Tumor Testing Market: Segmentation

By Type

  • Genetic testing

  • Conventional testing

By Cancer Type

  • Breast Cancer

  • Lung Cancer

  • Colorectal Cancer

  • Prostate Cancer

  • Cervical Cancer

By End-User 

  • Hospitals

  • Pharmaceutical and biotechnology companies

  • Contract research organizations

  • Academic research institutions

By Regions

  • North America

  • Europe

  • Asia-Pacific

  • LAMEA


TABLE OF CONTENT

  1. Introduction

    1. Market Definition

    2. Market Scope

  2. Research Methodology

    1. Primary Research

    2. Research Methodology

    3. Assumptions & Exclusions

    4. Secondary Data Sources

  3. Market Overview

    1. Report Segmentation & Scope

    2. Value Chain Analysis: Solid Tumor Testing Market

    3. Key Market Trends

      1. Drivers

      2. Restraints

      3. Opportunities

    4. Porter’s Five Forces Analysis

      1. Bargaining Power of Suppliers

      2. Bargaining Power of Buyers

      3. Threat of Substitution

      4. Threat of New Entrants

      5. Competitive Rivalry

    5. Market Share Analysis

  4. Cancer Type Overview

    1. Introduction

      1. Market Size & Forecast

    2. Breast Cancer

      1. Market Size & Forecast

    3. Lung Cancer

      1. Market Size & Forecast

  5. Type Overview

    1. Introduction

      1. Market Size & Forecast

    2. Genetic Testing

      1. Market Size & Forecast

    3. Conventional Testing

      1. Market Size & Forecast

  6. Regional Overview

    1. Introduction

      1. Market Size & Forecast

    2. America

      1. North America

      2. U.S.

        1. By Cancer Type

        2. By Type

      3. Canada

        1. By Cancer Type

        2. By Type

      4. Mexico

        1. By Cancer Type

        2. By Type

      5. Latin America

        1. By Cancer Type

        2. By Type

    3. Europe

      1. Market Size & Forecast

      2. Germany

        1. By Cancer Type

        2. By Type

      3. France

        1. By Cancer Type

        2. By Type

      4. U.K.

        1. By Cancer Type

        2. By Type

      5. Italy

        1. By Cancer Type

        2. By Type

      6. Spain

        1. By Cancer Type

        2. By Type

      7. Rest of Europe

        1. By Cancer Type

        2. By Type

    4. Asia Pacific

      1. Market Size & Forecast

      2. Japan

        1. By Cancer Type

        2. By Type

      3. China

        1. By Cancer Type

        2. By Type

      4. Australia

        1. By Cancer Type

        2. By Type

      5. India

        1. By Cancer Type

        2. By Type

      6. South Korea

        1. By Cancer Type

        2. By Type

      7. Rest of Asia-Pacific

        1. By Cancer Type

        2. By Type

    5. Middle East & Africa

      1. Market Size & Forecast

      2. Saudi Arabia

        1. By Cancer Type

        2. By Type

      3. South Africa

        1. By Cancer Type

        2. By Type

      4. Kuwait

        1. By Cancer Type

        2. By Type

      5. Rest of Middle East & Africa

        1. By Cancer Type

        2. By Type

  7. Company Profile

    1. Abbott Laboratories

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    2. Agilent Technologies

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

    3. 20/20 Gene Systems Inc

      1. Company Overview

      2. Financial Performance

      3. Recent Developments

      4. Product Portfolio

  8. Conclusion & Recommendation

  9. Acronyms & Abbreviations


Table of Content and Figure https://straitsresearch.com/report/solid-tumor-testing-market/toc


Market News

  • June 2022, Agilent Leverages NVIDIA and AWS Technology to Improve Analysis Speeds of Genomics Bioinformatics Pipelines


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