Dublin, June 08, 2020 (GLOBE NEWSWIRE) -- The "U.S. Solid Tumor Testing Market: Focus on Technology, Cancer Type, Biomarker Type, Application, End User, State Region, and Competitive Landscape - Analysis and Forecast, 2019-2030" report has been added to ResearchAndMarkets.com's offering.
According to this market intelligence report titled the U.S. solid tumor testing market was valued at $8,179.7 million in 2019 and is anticipated to grow over $15,396.4 million by 2030. The U.S. solid tumor testing market is expected to grow at a single-digit compound annual growth rate in the forecast period 2020-2030, aided primarily by the high growth in the molecular diagnostics market.
The term solid tumor refers to abnormal cellular growths, which generally comprise sarcomas, carcinomas, and lymphomas. The current solid tumor testing market is mainly dominated by several diagnostic majors, such as Quest Diagnostics Incorporated, Laboratory Corporation of America, Foundation Medicine, which offer a wide variety of testing services for solid tumors. These testing services range from molecular-genetic tests to liquid biopsies for the confirmatory diagnosis of solid tumors. The key players in the product segment include Illumina, Abbott Laboratories, and ThermoFisher Scientific, which offer kits for the analysis of solid tumors.
The solid tumor tests are generally based on technologies such as fluorescence in situ hybridization (FISH), immunohistochemistry (INC), bi-directional sanger sequencing, polymerase chain reaction (PCR), next-generation sequencing (NGS), and other technologies. The underlying utility of diagnostic testing for solid tumors is based on the identification of clinically actionable gene mutations, which provide crucial information on diagnosis, prognosis, and theranosis of solid tumors and thereby facilitate clinical work-up, treatment management, and therapeutic selection.
The existing market of solid tumor testing is favored by multiple factors, which include rising government initiatives, increasing incidence of cancer, thereby increasing the utilization of testing technologies to identify the underlying mutations. In addition, an increasing number of product approvals and launches pertaining to U.S. solid tumor testing market will provide a lucrative growth for this market. Moreover, increasing the use of biomarkers in cancer profiling is also one of the key driving factors for the solid tumor testing market.
Government funding is also one of the major growth factors for the solid tumor testing market because increasing funding by the government is expected to facilitate research institutes and key players to develop as well as market novel assays useful for the diagnosis of several tumors. Increasing funding will lead to the liquidity of the solid tumor market, and thus, companies will develop various testing options for solid tumors to identify the underlying mutations that serve as a possible cause for the disease. All these factors are therefore expected to contribute to the market growth during the forecast period.
Within the research report, the market is segmented on the basis of product type, technology, application, end user, cancer type, biomarker type, and region, which highlight value propositions and business models useful for industry leaders and stakeholders. The research also comprises state-level analysis, go-to-market strategies of leading players, future opportunities, among others, to detail the scope and provide a 360-degree coverage of the domain.
This report is a meticulous compilation of research on more than 30 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report also comprises 15 detailed company profiles including several key players, such as Abbott Laboratories, Laboratory Corporation of America, Quest Diagnostics Incorporated, Illumina, F. Hoffmann-La Roche, ARUP Laboratories, Bio-Rad Laboratories, Inc., Asuragen Inc., Cancer Genetics Inc., Invitae Corporation, NeoGenomics Laboratories, Inc., and QIAGEN N.V.
Key trends targeted in the report:
- What are the emerging trends in the U.S. solid tumor testing market? How are these trends revolutionizing the cancer screening procedure?
- Which companies are anticipated to be highly disruptive in the future and why?
- What are the gaps in regularizing optimum solid tumor testing? How are these gaps being filled?
Key Topics Covered:
1 Product Definition
1.1 Inclusion and Exclusion
2 Market Scope
2.1 Scope of Work
2.2 Key Questions Answered in the Report
3 Research Methodology
3.1 U.S. Solid Tumors Testing Market: Research Methodology
3.2 Data Sources
3.3 Secondary Data Sources
3.4 Market Estimation Model
3.5 Criteria for Company Profiling
4 Market Overview
4.1 Definition
4.2 Solid Tumor Testing Technologies
4.3 Market Size and Growth Potential, $Million, 2019-2030
4.4 Industry Participants Landscape
5 Epidemiology of Solid Tumors in U.S.
6 Industry Insights
6.1 Regulation of Genetic Tests
6.1.1 FDA Regulation
6.1.2 CMS Regulation
6.2 Reimbursement Scenario
6.2.1 Impact on Laboratory Industry
7 Market Dynamics
7.1 Market Drivers
7.1.1 Rising Incidence of Cancers
7.1.2 Decreasing Cost of Sequencing
7.1.3 Increasing Adoption of Inorganic Growth Strategies in the Market
7.1.4 Increasing Research Funding from the National Cancer Institute
7.1.5 Expected Increase in Adoption of Genetic Testing
7.2 Restraints
7.2.1 Reimbursement Cuts in the U.S.
7.2.2 Expected Implementation of the Patient Protection and Affordable Care Act in the U.S.
7.2.3 High Pricing Pressure
7.3 U.S. Market Opportunities
7.3.1 Informatics and Technological Innovation for Larger Consumer Base
7.3.2 Mushrooming Direct-to-Consumer (DTC) Testing Services Market
8 Competitive Landscape
8.1 Key Strategies and Developments
8.1.1 Synergistic Activities
8.1.2 Approvals
8.1.3 Product Launches, Enhancements, and Expansion
8.1.4 Acquisitions and Mergers
8.2 Product Scenario
8.3 Funding Scenario
8.4 Market Share Analysis
8.5 Growth Share Analysis (Opportunity Mapping)
8.5.1 By Company
8.5.2 By Technology
8.5.3 By Application
8.5.4 By Cancer Type
9 U.S. Solid Tumor Testing Market (by Technology)
9.1 Overview
9.2 Next-Generation Sequencing
9.3 In Situ Hybridization
9.4 Polymerase Chain Reaction
9.5 Immunohistochemistry
9.6 Other Technologies
10 U.S. Solid Tumor Testing Market (by Cancer Type)
10.1 Overview
10.2 Breast Cancer
10.3 Prostate Cancer
10.4 Colorectal Cancer
10.5 Lung Cancer
10.6 Melanoma
10.7 Endometrial Cancer
10.8 Thyroid Cancer
10.9 Brain Cancer
10.10 Ovarian Cancer
10.11 Liver Cancer
10.12 Other Cancer Types
11 U.S. Solid Tumor Testing Market (by Type of Biomarker)
11.1 Overview
11.2 Genetic Biomarkers
11.3 Protein Biomarkers
11.4 Other Biomarkers
12 U.S. Solid Tumor Testing Market (by Application)
12.1 Overview
12.2 Clinical
12.3 Research
13 U.S. Solid Tumor Testing Market (by End User)
13.1 Overview
13.2 Hospitals, Diagnostic Laboratories, and Reference Laboratories
13.3 Pharmaceutical and Biotechnology Companies
13.4 Contract Research Organizations
13.5 Academic Research Institutions
13.6 Other End Users
14 U.S. Solid Tumor Testing Market (by State Region)
14.1 Overview
14.2 The South U.S.
14.3 The Midwest U.S.
14.4 The Mid-Atlantic U.S.
14.5 The West U.S.
14.6 The Southwest U.S.
14.7 New England
15 Company Profiles
15.1 Overview
15.2 Abbott Laboratories
15.2.1 Company Overview
15.2.2 Role of Abbott Laboratories in the U.S. Solid Tumor Testing Market
15.2.3 Financials
15.2.4 Key Insights About Financial Health of the Company
15.2.5 SWOT Analysis
15.3 Illumina, Inc.
15.4 F. Hoffmann-La Roche Ltd.
15.5 Bio-Rad Laboratories, Inc.
15.6 ASURAGEN, INC.
15.7 Cancer Genetics Inc.
15.8 QIAGEN N.V.*
15.9 Quest Diagnostics Incorporated
15.10 ARUP Laboratories
15.11 Invivoscribe, Inc.
15.12 NeoGenomics Laboratories, Inc.
15.13 Invitae Corporation
15.14 Opko Health
15.15 Laboratory Corporation of America Holdings
15.16 OmniSeq
15.17 Nanostring Technologies
15.18 Guardant Health
15.19 Personal Genome Diagnostics
15.20 HTG Molecular Diagnostics
15.21 Caris Life Sciences
15.22 Genomic Testing Cooperative
15.23 ArcherDX, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/wer8j9
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