Portland, OR, November 9, 2022 (GLOBE NEWSWIRE) — A new business intelligence report released by Allied Market Research, the Solid Tumor Testing Market it earned $23.8 billion in 2021 and is estimated to generate $46.7 billion by 2031, manifesting a CAGR of 7.0% from 2022 to 2031. The report provides an extensive analysis of the changing dynamics of the market, the main segments, the value chain, the competitive scenario and the regional panorama. . This research offers valuable guidance for major players, investors, shareholders, and startups in designing strategies for sustainable growth and gaining competitive advantage in the marketplace.
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Coverage and details of the report:
|Market size in 2021||$23.8 billion|
|Market size in 2031||$46.7 billion|
|No. of pages in the report||225|
|Covered segments||Type, Application, End User, and Region.|
|drivers||Increase in geriatric population prone to solid tumors|
|Increased prevalence of bladder tumors, prostate tumors, breast tumors, colorectal tumors, endometrial tumors, lung tumors, melanoma tumors, brain tumor, thyroid tumor, liver tumor, and ovarian tumor|
|Increasing demand for the minimally invasive procedure for the diagnosis of solid tumors worldwide|
|Increased unhealthy lifestyles, eg increased smoking, alcohol use|
|Increased use of supplements and steroids|
|Strategies between key players such as acquisition, collaboration and agreement.|
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global solid tumor testing market as a large number of medical schools and hospitals around the world were rebuilt to increase hospital capacity for diagnosed patients. with COVID-19.
- The pandemic has negatively altered the way cancer patients are diagnosed and treated in the short term. For example, according to a National Library of Medicine review article published in 2020, it is estimated that as a result of COVID-19, breast, colon, and cervical cancer screenings have dropped by 94%, 86%, and 94% between January 20, 2020 and April 21, 2020, respectively.
The research provides detailed segmentation of the global Solid Tumor Testing market on the basis of type, application, end user and region. The report analyzes the segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the fastest growing and highest revenue generating segments mentioned in the report.
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Based on type, the genetic testing segment had the highest share in 2021, accounting for nearly two-thirds of the global solid tumor testing market, and is expected to continue its leading status during the forecast period. Furthermore, the same segment is expected to record the highest CAGR of 7.3% from 2022 to 2031.
Based on the application, the melanoma segment accounted for the highest share in 2021, contributing nearly a fifth of the global solid tumor testing market, and is expected to maintain its leadership in terms of revenue over the forecast period. However, the breast segment is expected to post the highest CAGR of 7.7% between 2022 and 2031.
According to end-user, the hospital segment accounted for the highest share in 2021, with nearly a third of the global solid tumor testing market, and is expected to continue its leading status over the forecast period. However, the academic research institutions segment is estimated to grow at the highest CAGR of 7.2% during the forecast period.
Based on region, North America had the largest share in 2021, contributing around two-fifths of the global solid tumor testing market share, and is projected to maintain its dominant share in terms of revenue in 2031 Furthermore, Asia-Pacific region is expected to manifest the fastest CAGR of 8.3% during the forecast period. The research also looks at regions such as Europe and LAMEA.
Major players in the global solid tumor testing market analyzed in the research include QIAGEN, QUEST DIAGNOSTICS INCORPORATED, Abbott Laboratories, Agilent Technologies Inc., Biocare Medical LLC, F. Hoffmann-La Roche AG, ILLUMINA, INC., MedGenome Labs Private Ltd., MYRIAD GENETICS, INC., Thermo Fisher Scientific, Inc.
The report provides detailed analysis of these key players of the global Solid Tumor Testing market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio, and strategic moves of market players to show the competitive landscape.
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