Strong Growth Ahead: Solid Tumor Testing Market Size To Grow At Arecord 7.5% Cagr By 2029

The Solid Tumor Testing Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Solid Tumor Testing Market Size Expected to Be by 2034?
The market size for solid tumor testing has witnessed a robust expansion lately. The market size is predicted to escalate from $27.96 billion in 2024 to reach $30 billion in 2025 with a compound annual growth rate (CAGR) of 7.3%. The historic expansion can be credited to factors such as precision medicine, inadequate selective drug delivery for tumors, decreased therapeutic effectiveness, unmanageable costs, and simplistic methods towards cancer chemotherapies.

The market for solid tumor testing is projected to witness significant expansion in the coming years. Anticipated to reach a value of $40.06 billion in 2029 with a compound annual growth rate (CAGR) of 7.5%, this robust growth can be linked to factors such as an increased occurrence of cancer, improved healthcare infrastructure, the advent of AI and IoT-driven diagnostic devices, and increased governmental initiatives. Key trends for this period comprise advancements in diagnostic tools, the introduction of nanocarrier-based therapies, strategic partnerships, and the emergence of next-generation testing devices.

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What Are the Emerging Segments Within 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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What Long-Term Drivers Are Shaping Solid Tumor Testing Market Trends?
The solid tumor testing market is expected to grow due to the projected surge in the occurrence of cancer. Cancer, a disease characterized by the uninhibited growth and spread of abnormal cells within the body, severely affects nearby tissues and organs and can potentially disperse to other parts of the body using the bloodstream or the lymphatic system. Approximately 90% of adult cancers are solid tumors, detected by solid tumor testing, even before these are visible on imaging tests. For example, reports from the Centers for Disease Control and Prevention, an American public health agency, state that in June 2023, there were 1,603,844 new instances of cancer and 602,347 death related to cancer reported in the US in 2020. For every 100,000 people, there were 403 fresh cases of cancer and 144 cancer-induced deaths. Thus, the rising rates of cancer incidence are fueling the expansion of the solid tumor testing market.

Who Are the Top Competitors in Key Solid Tumor Testing Market Segments?
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 Solid Tumor Testing Market Trends Are Gaining Traction Across Different Segments?
The emergence of innovative liquid biopsy test solutions is a significant trend being observed in the solid tumor testing market. Major market players are putting efforts into developing these innovative solutions to fortify their market stance and achieve a competitive edge. For example, in June 2020, NeoGenomics Inc., an established lab testing firm in the US, introduced its comprehensive set of three liquid biopsy tests. These tests are specifically developed to identify cancer cells in patients with solid tumors, even before it is detectable by imaging tests. These tests are instrumental in assisting doctors in making further diagnostic or therapeutic decisions. They offer benefits such as non-invasiveness, early detection capabilities, personalization of treatment, and FDA approval. Additionally, the new tests have a fast turnaround time of seven days or less, thereby potentially saving substantial time for clinicians.

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Which Regions Are Becoming Hubs for Solid Tumor Testing Market Innovation?
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

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Solid Tumor Testing Market?
2. What is the CAGR expected in the Solid Tumor Testing Market?
3. What Are the Key Innovations Transforming the Solid Tumor Testing Industry?
4. Which Region Is Leading the Solid Tumor Testing Market?

Why This Report Matters:

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Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

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