Overview of the Global Solid Tumor Testing Industry:
The Global Solid Tumor Testing market is projected to experience substantial growth between 2023 and 2028, driven by digital transformation, innovation in service delivery, and expanding global demand. With a forecasted 8.0% CAGR during the forecast period, i.e., 2023-28.
This report offers an in-depth analysis of the key drivers, challenges, competitive landscape, and future outlook — helping businesses, investors, and stakeholders make informed decisions.
Market Size & Forecast (2023–2028)
- Base Year: 2022
- Forecast Period: 2023-28
- Estimated CAGR (2023-28): 8.0%
Key Market Driver (What’s Driving Solid Tumor Testing Sector Growth?)
Mounting Incidence of Cancer to Augment the Market Growth – The rising number of cancer patients in the world is the leading cause of the Global Solid Tumor Testing Market growth. The increasing geriatric population coupled with a sedentary lifestyle & other hereditary risk factors, are the major factors for the spike of cancer cases worldwide. For instance, the recent incidence trends projected by the American Cancer Society for FY2021 indicate a slight boost of nearly 2.50% compared to the earlier projections being postulated for FY2020.
The reported incidence rates pertaining to various types of cancers, such as breast & lung, are constantly supplementing during the past few years. The demand for respective testing assay kits is significantly growing, owing to the upscaling prominence of early diagnosis to avoid further risks considering the rates being on a spike. Thus, in line with this, it is predicted that the Global Solid Tumor Testing Market would witness an upsurging demand in the coming years.
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Global Solid Tumor Testing Market Recent Developments
- 2022: Illumina announced to launch of Tru Sight Oncology (TSO), a single test that evaluates multiple tumor genes & biomarkers to test specific molecular profiles of a patient.
Top Companies in the Solid Tumor Testing Market
Here’s a snapshot of key players leading innovation and market share:
- Abbott Laboratories
- ARUP Laboratories
- ASURAGEN, INC.
- Bio-Rad Laboratories, Inc
- Beijing Genomics Institute (BGI) Genomics Co., Ltd
- Hoffmann-La Roche Ltd
- Guardant Health
- Illumina, Inc.
- Invivoscribe, Inc.
- Invitae Corporation
- Laboratory Corporation of America Holdings
- NeoGenomics Laboratories, Inc.
- Opko Health
- OmniSeq
- QIAGEN N.V
- Quest Diagnostics Inc
- Others
The market is highly fragmented, with a mix of global and regional players competing for market share. To Learn More About the Global Trends Impacting the Future of Top 10 Companies in Premium Solid Tumor Testing Market
Factor Hinder Solid Tumor Testing Industry Growth
High Capital Requirement for Laboratory Set Up – The increasing incidence of cancer across the world is giving rise to the requirement for more molecular testing laboratories. Setting up a proper functional laboratory needs the necessary technology & medical equipment with highly skilled professionals for handling high throughput data to maintain the precision & accuracy of the testing result.
Since these results affect the patient report, their health, and the cost of the treatment as well, therefore, arranging all these things with precision requires a large sum of investment which emerge as a challenge for various small & mid-sized health institution in the world, which doesn’t have strong financial support & are not able to set up the laboratories in their institutions. Thus, hospitals & clinical institutions require a significant amount of capital for setting up a laboratory which results in a high cost of sequencing testing and would emerge as a restraint & hamper the growth of the Solid Tumor Testing Market in the forecasting period.
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Solid Tumor Testing Market Segmentation Analysis
-By Technologies
- In Situ Hybridization
- Immunohistochemistry
- Polymerase Chain Reaction
- Next-Generation Sequencing
- Other Technologies (Microarray, ELISA, and LC/MS)
Next-Generation Sequencing (NGS) is becoming an integral part of clinical molecular diagnostics due to the high efficacy of the test results.
-By End Users
- Hospitals, Diagnostic Laboratories, and Reference Laboratories
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
- Academic Research Institutions
Of them all, Hospitals, Diagnostic Laboratories, and Reference Laboratories, collectively forming the clinical sector, are at the forefront of adopting solid tumor testing services into routine healthcare procedures.
-By Cancer Type
- Prostate Cancer
- Breast Cancer
- Colorectal Cancer
- Endometrial Cancer
- Melanoma
- Lung Cancer
- Thyroid Cancer
- Brain Cancer
- Ovarian Cancer
- Liver Cancer
- Other Cancer Types
-By Application
- Clinical
- Research
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Geographical Analysis
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Of all the regions, the North American Solid Tumor Testing market is expected to be primarily driven by technological advancements to advance & broaden the overall scope of the oncology-based molecular diagnostic industry.
Methodology Behind the Report
This research combines qualitative and quantitative methods, including:
- Expert interviews
- Proprietary forecasting models
- Financial and trade databases
- Government and institutional data
Forecasts are validated using top-down and bottom-up approaches to ensure accuracy and reliability.
Frequently Asked Questions About the Solid Tumor Testing Market
- What is the growth rate of the Solid Tumor Testing market from 2023–2028?
- Which segment are expected to dominate market?
- Who are the top companies and what strategies being they using?
- What are the key risks and challenges in this industry?
- How can businesses prepare for future trends?
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