Press release
Solid Tumor Testing Market: Thriving at a Staggering CAGR of 7.5%, Elevating from $27.96 billion to an Estimated $40.06 billion by 2029
Solid Tumor Testing Market Size
What Is The Projected Market Size Of The Global Solid Tumor Testing Market And Its Growth Rate?
The Solid Tumor Testing Market has demonstrated robust growth in recent years and is anticipated to further burgeon in the coming years:
• In 2024, the market size was $27.96 billion.
• By 2025, it is projected to grow to $30 billion, at a CAGR of 7.3%.
• By 2029, it is expected to reach an impressive $40.06 billion, at a CAGR of 7.5%.
These growth rates can be attributed to various factors such as the increasing prevalence of cancer, enhancements in healthcare infrastructure, the emergence of AI and IoT-based diagnostic devices, and growing government initiatives.
What Is Driving The Growth In The Solid Tumor Testing Market?
The increasing incidence of cancer is a significant catalyst driving the solid tumor testing market's growth. Abnormal cancer cells, often known as solid tumors, can penetrate nearby tissues and organs and occasionally disseminate to other parts of the body through the blood or lymphatic system. Solid tumor testing detects cancer cells in the blood of patients with solid tumors, even before they become visible on imaging tests. The alarming number of new cancer cases and related deaths, as reported by the Centers for Disease Control and Prevention in the US, underscores the escalating prevalence of cancer, thus fueling the growth of the solid tumor testing market.
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Who Are the Key Players Driving Solid Tumor Testing Market Growth?
• 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 Key Trends In The Solid Tumor Testing Market?
• Advancements in diagnostic tools
• Introduction of nanocarrier-based therapies
• Strategic collaborations
• Next-generation testing devices
What Are The Segments Of The Global Solid Tumor Testing Market?
• By Type: Genetic Testing, Conventional Testing
• By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Cervical Cancer
• By Application: Clinical, Research
• By End-Users: Hospitals, Pharmaceutical And Biotechnology Companies, Contract Research Organizations, Academic Research Institutions
Which Region Leads The Solid Tumor Testing Market?
North America was the leading region in the solid tumor testing market in 2024. However, the Asia-Pacific region is expected to exhibit the fastest growth in the forecast period. The report covers various regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Solid Tumor Testing Market Global Market Report?
- Market Size Analysis: Analyze the Solid Tumor Testing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Solid Tumor Testing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Solid Tumor Testing Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Solid Tumor Testing Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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