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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:

Key Topics Covered:

1 Product Definition1.1 Inclusion and Exclusion

2 Market Scope2.1 Scope of Work2.2 Key Questions Answered in the Report

3 Research Methodology3.1 U.S. Solid Tumors Testing Market: Research Methodology3.2 Data Sources3.3 Secondary Data Sources3.4 Market Estimation Model3.5 Criteria for Company Profiling

4 Market Overview4.1 Definition4.2 Solid Tumor Testing Technologies4.3 Market Size and Growth Potential, $Million, 2019-20304.4 Industry Participants Landscape

5 Epidemiology of Solid Tumors in U.S.

6 Industry Insights6.1 Regulation of Genetic Tests6.1.1 FDA Regulation6.1.2 CMS Regulation6.2 Reimbursement Scenario6.2.1 Impact on Laboratory Industry

7 Market Dynamics7.1 Market Drivers7.1.1 Rising Incidence of Cancers7.1.2 Decreasing Cost of Sequencing7.1.3 Increasing Adoption of Inorganic Growth Strategies in the Market7.1.4 Increasing Research Funding from the National Cancer Institute7.1.5 Expected Increase in Adoption of Genetic Testing7.2 Restraints7.2.1 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 Pressure7.3 U.S. Market Opportunities7.3.1 Informatics and Technological Innovation for Larger Consumer Base7.3.2 Mushrooming Direct-to-Consumer (DTC) Testing Services Market

8 Competitive Landscape8.1 Key Strategies and Developments8.1.1 Synergistic Activities8.1.2 Approvals8.1.3 Product Launches, Enhancements, and Expansion8.1.4 Acquisitions and Mergers8.2 Product Scenario8.3 Funding Scenario8.4 Market Share Analysis8.5 Growth Share Analysis (Opportunity Mapping)8.5.1 By Company8.5.2 By Technology8.5.3 By Application8.5.4 By Cancer Type

9 U.S. Solid Tumor Testing Market (by Technology)9.1 Overview9.2 Next-Generation Sequencing9.3 In Situ Hybridization9.4 Polymerase Chain Reaction9.5 Immunohistochemistry9.6 Other Technologies

10 U.S. Solid Tumor Testing Market (by Cancer Type)10.1 Overview10.2 Breast Cancer10.3 Prostate Cancer10.4 Colorectal Cancer10.5 Lung Cancer10.6 Melanoma10.7 Endometrial Cancer10.8 Thyroid Cancer10.9 Brain Cancer10.10 Ovarian Cancer10.11 Liver Cancer10.12 Other Cancer Types

11 U.S. Solid Tumor Testing Market (by Type of Biomarker)11.1 Overview11.2 Genetic Biomarkers11.3 Protein Biomarkers11.4 Other Biomarkers

12 U.S. Solid Tumor Testing Market (by Application)12.1 Overview12.2 Clinical12.3 Research

13 U.S. Solid Tumor Testing Market (by End User)13.1 Overview13.2 Hospitals, Diagnostic Laboratories, and Reference Laboratories13.3 Pharmaceutical and Biotechnology Companies13.4 Contract Research Organizations13.5 Academic Research Institutions13.6 Other End Users

14 U.S. Solid Tumor Testing Market (by State Region)14.1 Overview14.2 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 Profiles15.1 Overview15.2 Abbott Laboratories15.2.1 Company Overview15.2.2 Role of Abbott Laboratories in the U.S. Solid Tumor Testing Market15.2.3 Financials15.2.4 Key Insights About Financial Health of the Company15.2.5 SWOT Analysis15.3 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 Incorporated15.10 ARUP Laboratories15.11 Invivoscribe, Inc.15.12 NeoGenomics Laboratories, Inc.15.13 Invitae Corporation15.14 Opko Health15.15 Laboratory Corporation of America Holdings15.16 OmniSeq15.17 Nanostring Technologies15.18 Guardant Health15.19 Personal Genome Diagnostics15.20 HTG Molecular Diagnostics15.21 Caris Life Sciences15.22 Genomic Testing Cooperative15.23 ArcherDX, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/wer8j9

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Outlook on the United States Solid Tumor Testing Industry to 2030 - Analysis and Forecast - GlobeNewswire

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