Report Overview

An increasing demand for minimally invasive procedures for solid tumor diagnosis and growing adoption of technology advancements could boost the growth of United States Solid Tumor Testing Market during the forecast period between 2023 and 2029.

United States Solid Tumor Testing Market - Industry Trends & Forecast Report, 2029

United States solid tumor testing market size was estimated at USD 6.1 billion in 2022. During the forecast period between 2023 and 2029, United States solid tumor testing market size is projected to grow at a CAGR of 7.88% reaching a value of USD 10.28 billion by 2029. One of the major factors driving the growth of the US solid tumor testing market is the increase in the number of cancer patients nationwide. The widespread use of spatial techniques in cancer research and diagnosis, as well as the introduction of novel technologies to reduce errors, are driving market growth. The increased number of market players dealing in these technologies, as well as the development of high-throughput, rapid, sensitive, and multi-parametric solutions for prognosis, diagnostics, and treatment, all have an impact on the market. An increase in investments, grants, and funds, an increase in population, an increase in healthcare expenditure, and an increase in funding support from various organizations all have a positive impact on the US solid tumor testing market. The increased demand for personalized medicine provides the market with a profitable opportunity.

United States Solid Tumor Testing Market - Overview

Any part of the body can develop a solid mass known as a solid tumor. A solid tumor cancer is a condition where abnormal cells continue to divide uncontrollably. After infectious and cardiovascular diseases, cancer is the third most fatal condition. Any organ or bone can develop a solid tumor. Although not all solid tumors contain cancerous cells, solid tumors that do are referred to as malignant tumors in medical terminology. Solid tumor cancers include those of the lungs, breasts, skin, head, neck, colon, prostate, and bladder.

Growth Drivers

Increasing Incidences of Cancer Types

It is expected that rising rates of various metastatic cancer types will aid the expansion of United States solid tumor testing market. Various cancer conditions are becoming more common. Tumor testing will be required for cases of lung, colorectal, breast, and liver cancer, further driving the market. The most frequent solid tumors are brain and neuroblastomas, while rhabdomyosarcoma and osteosarcoma are less frequent solid cancers.

High Rate of Several Cancer Types

Nearly 10 million deaths nationwide, or nearly one in every six deaths, will be caused by cancer in 2020. The most common cancers are those of the breast, lung, colon, rectum, and prostate. Around one-third of cancer cases are caused by tobacco use, having a high body mass index (BMI), drinking alcohol, not eating enough fruits and vegetables, not exercising, and being exposed to air pollution. Around 30% of cancer cases in low- and lower-middle-income countries are caused by cancer-causing infections like the human papillomavirus (HPV) and hepatitis. Therefore, it is expected that the rising incidence of different types of metastatic cancer will propel market growth. Numerous malignant conditions are becoming more commonplace very quickly. The market for solid tumor testing is expected to be driven by the increased need for testing due to lung, colorectal, breast, and liver cancers. The two most common types of solid tumors are brain and neuroblastomas. Rhabdomyosarcoma and osteosarcoma are fewer common types of solid malignancies that require frequent testing and are further expected to boost the growth of the solid tumor testing market during the forecast period.

Restraints

High Treatment Costs and Shortage of Trained Professionals

High cost of completing treatment may slow the market's growth rate. The solid tumor market will be challenged by the problem of insufficient healthcare infrastructure in developing economies and a shortage of qualified medical professionals. Stringent regulatory policies and a general lack of public awareness will also limit and impede the market growth. Such factors may stifle market growth shortly.

Impact of COVID-19 on United States Solid Tumor Testing Market

The solid tumor testing market in United States was slightly impacted by the Covid-19 pandemic, but it has since grown significantly. Due to several driving factors, the market for solid tumor cancer treatments is expected to expand during the forecast period. The creation of therapies for the management of solid tumor cancer is one of the major market drivers. The increased use of nanomedicines in therapy is another factor propelling the solid tumor cancer treatment market, which has attracted investors.

United States Solid Tumor Testing Market

Segmental Coverage

United States Solid Tumor Testing Market - By Type

By type, United States solid tumor testing market is divided into Conventional Testing, Non-Conventional Testing (Fluorescence in-situ hybridization (FISH), Immunohistochemistry (IHC), Polymerase chain reaction (PCR), and Next-generation sequencing (NGS) segments. With the highest market share in 2022, the non-Conventional testing type segment dominated the US solid tumor testing market. This is owing to the rapidly increasing use of genetic testing in solid tumor testing for the diagnosis of solid tumors, an increase in the development of genetic testing products and solutions, and a rise in population awareness of genetic testing.

Next-Generation Sequencing (NGS) sub-segment holds the highest market share. This type of testing is a game-changing technology that enables higher throughput analyses and improved cost-effectiveness, speed, sensitivity, and specificity to the diagnostic procedure. It is crucial to screen multiple genes simultaneously rather than one gene at a time because an effective solid tumor treatment necessitates molecular analysis of numerous parameters. Although NGS technologies were initially intended for research, they can now be used in clinical diagnostics in conjunction with methods from the lab.

United States Solid Tumor Testing Market - By Cancer Type

On basis of cancer type, United States solid tumor testing market is divided into Prostate, Breast, Endometrial, Lung, Brain, and Others. The breast cancer segment dominates US solid tumor market. Breast cancer is the most common solid tumor in women. Despite a variety of drug combinations and regimens, all patients with advanced breast cancer, like those with other solid tumors, inevitably develop treatment resistance. There are two types of resistance mechanisms: intracellular and extracellular. Prostate cancer and lung cancer are the next most prevalent cancers. These two cancer types are combined for the list because colon and rectal cancers are frequently referred to as "colorectal cancers."

United States Solid Tumor Testing Market - By End User

On basis of end user, United States solid tumor testing market is divided into Hospitals, Pharmaceutical & Biotechnology Companies, Contract Research Organizations, and Academic Research Institutes. The hospitals segment dominates the US solid tumor testing market, as treatments that are growing at the fastest rate due to the rising incidence of various cancers. Hospitals are expanding by providing specialized centers for the treatment of solid tumor cancer. Simultaneously, research institutions significantly contribute to the growth of the solid tumor cancer treatment market by providing cutting-edge medications and medical equipment for superior healthcare.

Competitive Landscape

Competition in US solid tumor testing market is intense. Major players in the market include Agilent Technologies, Roche Diagnostics, QIAGEN, Thermo Fisher Scientific, Illumina, Inc., PerkinElmer, Hologic, Bio-Rad Laboratories, Agios Pharmaceuticals, and Guardant Health. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Testing Type

• Conventional Testing

• Non-conventional Testing

• Fluorescence in-situ hybridization (FISH)

• Immunohistochemistry (IHC)

• Polymerase chain reaction (PCR)

• Next-generation sequencing (NGS)

By Cancer Type

• Prostate

• Breast

• Endometrial

• Lung

• Brain

• Others

By End User

• Hospitals

• Pharmaceutical & Biotechnology Companies

• Contract Research Organizations

• Academic Research Institutes