BIS Research Study Highlights US Solid Tumor Testing Market to Reach $18.28 Billion by 2032
FREMONT, Calif., June 9, 2022 /PRNewswire/ — The US solid tumor testing market should reach $18.28 billion in terms of revenue by 2032, at a CAGR of 6.19%, suggests BIS Research’s premium study.
According to the American Cancer Society, the top states with the highest estimated number of cancer cases in the United States in 2021 are California, Floridaand Texas, with 187,140, 148,010 and 133,730 cases respectively. Other hotspots with rising numbers of cases in the country include New York, Pennsylvania, Illinoisand Ohio.
In the current study, considerations for solid tumors follow the National Cancer Institute definition. 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 owing to opportunities such as the introduction of IT and technological innovations for a large customer base and the increasing adoption of genetic testing services.
The detailed study is a compilation of 09 market data tables and 202 figures spread over 283 pages and an in-depth table of contents on “US Solid Tumor Testing Market – Analysis and Forecast, 2022-2032”
Demand – Drivers and Limits
Following are the drivers of the US solid tumor testing market:
- Growing Advances in Solid Tumor Testing and Rapid Use of Liquid Biopsy
- Early detection of cancer with multi-cancer tests
- Rising adoption of inorganic growth strategies in the market
- Rapid increase in National Cancer Institute research funding
- Rapid adoption of genetic testing
Following are the challenges for the US solid tumor testing market:
- Reductions in refunds in the United States
- High pressure on prices
Following are the opportunities for the US solid tumor testing market:
- Technological innovation for a broader consumer base and the role of IT
- Direct-to-consumer (DTC) testing services market mushroom
Reasons to buy this report
This Exclusive US Market Report of Solid Tumor Testing Market will help you in the following ways:
- Offers in-depth insights into the future prospects of both emerging and established US players
- Offers go-to-market strategies for different product types
- Helps diversify product portfolio based on risk and application progression in US solid tumor testing products and services
- Helps analyze technology substitutes and compare specifications of various ecosystems and applications
- Offers tailor-made solutions according to the speed of different consumers
- Help to explore the new application
- Assistance in the analysis of the financing scenario of competitors
- Helps understand new trends in the solid tumor testing industry
Market Analyst’s View:
According Nitish Kumar Singh, Senior Analyst – BIS Research, “The Southwest United States is the top contributor to the US solid tumor testing market. It contributed approximately 27.53% of the market value in 2021. This state is expected to grow at a CAGR of 6 .62% during the forecast period 2022-2032 and will continue dominating the global market in 2032. However, Western US is expected to grow at an impressive CAGR of 8.00% during the forecast period 2022 -2032.”
See the report in the US solid tumor testing market
Key Companies Operating in the Market and Competitive Landscape
The companies profiled have been selected based on input gathered from primary experts and analysis of company coverage, product portfolio and market penetration.
Major players in the segment dominating the market include solid tumor screening service providers who capture around 70% of the market presence, and solid tumor screening product manufacturers contribute around 30% of the market presence. the market in 2021.
Some of the most important established names in this market are:
- ARUP Laboratories
- Bio-Rad Laboratories, Inc.
- Caris life sciences.
- F. Hoffmann-La Roche SA
- Genomic testing cooperative
- Guardian of health
- HTG Molecular Diagnostics, Inc.
- Illumina, Inc.
- Invitee Corporation
- Invivoscribe, Inc.
- Laboratory Corporation of America Holdings
- NeoGenomics Laboratories
- Opko Health, Inc.
- Quest Diagnostics Incorporated.
- ThermoFisher Scientific, Inc.
Who should buy this report?
- Manufacturers of solid tumor testing products and services who plan to invest in one of the major established markets
- Companies Involved in the Solid Tumor Testing Ecosystem in the United States
- Companies in the US Solid Tumor Testing Market
- Companies involved in the development of therapeutic regimens for cancer and its different types.
Key questions answered by the report:
- How is the US market for solid tumor testing revolutionizing the field of oncology?
- What are the key market drivers, challenges, and opportunities in the United States Solid Tumor Testing?
- What are the underlying structures resulting from the emerging trends in the US solid tumor testing market?
- What impact has COVID-19 pandemic had on the US solid tumor testing market ecosystem?
- What are the key development strategies implemented by the major players to stay in the competitive market?
- What are the key regulatory implications in developed and developing regions regarding the use of solid tumor screening services?
- What are the potential entry barriers faced by companies wishing to enter a particular state in the United States?
- What are the growth opportunities for businesses in their region of operation?
- Who are the top players with significant deals in the US Solid Tumor Testing Market?
- Which companies are expected to be highly disruptive in the future and why?
Market studies linked to BIS research:
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm that focuses on deep technologies and related emerging trends that are likely to disrupt market dynamics in the near future. We publish over 200 market intelligence studies annually that focus on multiple deep technology verticals.
Our strategic market analysis emphasizes market estimates, technology analysis, high growth emerging applications, deeply segmented country-level granular market data, and other significant market parameters helpful in making strategic decision making for senior management.
BIS Research offers group studies as well as custom studies and expert consultations to companies, providing them with specific and actionable insights into new technology markets, business models and the competitive landscape.
BIS Healthcare vertical offers health technology market insights for medical devices, digital health, life sciences, robotics and imaging, information technology, precision medicine and other emerging health technologies, spanning the entire industry spectrum. Over the past 5 years, BIS Healthcare has published over 50 reports under the Precision Medicine banner. Additionally, BIS Research has successfully nominated the top 25 precision medicine voices on its Insight Monk platform for the past two years.
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