BIS Research Study Highlights the U.S. Solid Tumor Testing Market to Reach $18.28 billion by 2032

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Jun 09, 2022, 08:00 ET

FREMONT, Calif., June 9, 2022 /PRNewswire/ -- The U.S. solid tumor testing market is projected to reach $18.28 billion in terms of revenue by 2032, at a CAGR of 6.19%, suggests the premium market intelligence study by BIS Research.

According to the American Cancer Society, the leading states with the highest estimated number of cancer cases in the U.S. in 2021 are California, Florida, and Texas, with 187,140, 148,010, and 133,730 cases, respectively. Other hotspots with an increasing number of cases in the country include New York, Pennsylvania, Illinois, and Ohio.

In the current study, considerations for solid tumors follow the definition of the National Cancer Institute. Examples include sarcomas, carcinomas, and lymphomas of the organs that are affected.

Major solid tumors include breast cancer, prostate cancer, colorectal cancer, lung cancer, and melanoma, among others. The market is expected to grow at a significant growth rate due to the opportunities such as the introduction of informatics and technological innovations for a large customer base and increasing adoption of genetic testing services.

The detailed study is a compilation of 09 market data tables and 202 figures spread through 283 pages and in-depth TOC on "U.S. Solid Tumor Testing Market – Analysis and Forecast, 2022-2032"

Demand – Drivers and Limitations

Following are the drivers for the U.S. solid tumor testing market:

Rising Advancements in Solid Tumor Testing and Rapid Usage of Liquid Biopsy
Early Cancer Detection with Multi-Cancer Tests
Increasing Adoption of Inorganic Growth Strategies in the Market
Spike Increase in the Research Funding from National Cancer Institute
Rapid Adoption of Genetic Testing

Following are the challenges for the U.S. solid tumor testing market:

Reimbursement Cuts in the U.S.
High Pricing Pressure

Following are the opportunities for the U.S. solid tumor testing market:

Technological Innovation for Larger Consumer Base and Role of Informatics
Mushrooming Direct-to-Consumer (DTC) Testing Services Market

Reasons to Buy This Report

This exclusive report on the U.S. solid tumor testing market market will help you in the following ways:

Offers detailed information on the future perspective of the emerging as well as established players of the U.S.
Offers go-to-market strategies for the different product types
Supports in diversifying the product portfolio based on risk and progression of application in U.S. solid tumor testing products and services
Helps in analyzing technological substitutes and comparing the specification of various ecosystems and applications
Offers tailor-made solutions based on the throughput of different consumers
Assists in exploring the newer application
Supports in analyzing the competitors' funding scenario
Aids in understanding the new trends in the solid tumor testing industry

Analyst's Take on the Market:

According Nitish Kumar Singh, Principal Analyst - BIS Research, "The Southwest U.S. is the leading contributor to the U.S. solid tumor testing market. It contributed approximately 27.53% to the market value in 2021. This state is anticipated to grow at a CAGR of 6.62% during the forecast period 2022-2032 and will continue dominating the global market in 2032. However, the West U.S. is expected to grow at an impressive CAGR of 8.00% during the forecast period 2022- 2032."

View the report on U.S. Solid Tumor Testing Market

Key Companies Operating in the Market and Competitive Landscape

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

The top segment players leading the market include solid tumor testing service givers that capture around 70% of the presence in the market, and solid tumor testing product manufacturers contribute around 30% of the presence in the market as of 2021

Some of the prominent established names in this market are:

Abbott.
ARUP Laboratories
Bio-Rad Laboratories, Inc.
Caris Life Sciences.
F. Hoffmann-La Roche Ltd
Genomic Testing Cooperative
Guardant Health
HTG Molecular Diagnostics, Inc.
Illumina, Inc.
Invitae Corporation
Invivoscribe, Inc.
Laboratory Corporation of America Holdings
NanoString
NeoGenomics Laboratories
Opko Health, Inc.
QIAGEN
Quest Diagnostics Incorporated.
Thermo Fisher Scientific, Inc.
VYANTbio.

Who should buy this report?

Solid tumor testing products and services manufacturers who are planning to invest in one of the large established markets
Companies involved in the ecosystem of U.S. solid tumor testing
Companies in the U.S. solid tumor testing market
Companies involved in developing treatment regimens for cancer and its various types.

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Key Questions Answered in the Report:

How is U.S. solid tumor testing market revolutionizing the field of oncology?
What are the major market drivers, challenges, and opportunities in the U.S. solid tumor testing?
What are the underlying structures resulting in the emerging trends within the U.S. solid tumor testing market?
How did the COVID-19 pandemic impact the U.S. solid tumor testing market ecosystem?
What are the key development strategies that are being implemented by major players in order to sustain themselves in the competitive market?
What are the key regulatory implications in developed and developing regions pertaining to the use of solid tumor testing services?
What are the potential entry barriers that are expected to be faced by companies willing to enter a particular state of the U.S.?
What are the growth opportunities for companies in the region of their operation?
Who are the leading players with significant offerings in the U.S. solid tumor testing market?
Which companies are anticipated to be highly disruptive in the future and why?

BIS Research Related Market Studies:

Global Solid Tumor Testing Market

About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.

BIS Healthcare vertical offers intelligence in the healthcare technology market for Medical Devices, Digital Health, Life Sciences, Robotics and Imaging, Information Technology, Precision Medicine, and other emerging healthcare technologies, covering the entire industry spectrum. In the past 5 years, BIS Healthcare has published more than 50 reports under the precision medicine banner. Additionally, BIS Research has been nominating Top 25 Voices in Precision Medicine on its Insight Monk platform for the past two years successfully.

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