Dublin, June 22, 2022 (GLOBE NEWSWIRE) — The “U.S. Solid Tumor Testing Market: Focus on Technology, Cancer Type, Type of Biomarker, By Application, by End User, and Region – Analysis and Forecast, 2022-2032” report has been added to ResearchAndMarkets.com’s offering.
The U.S. solid tumor testing market was estimated to be at $9,498.8 million in 2021, which is expected to grow with a CAGR of 6.19% during the forecast period 2022-2032 and reach $18,287.6 million by 2032.
The growth in the U.S. solid tumor testing market is expected to be driven by increasing awareness of early tumor diagnosis and tests along with the increasing geriatric population. Furthermore, increasing cancer incidences in the pediatric population.
Market Lifecycle Stage
The U.S. solid tumor testing market is progressing rapidly. Significant increases in the research and development activities pertaining to solid tumor testing are underway to develop better testing kits and assays, which are expected to increase due to the rising frequency and efficiency of cancer testing products.
The recent allocation of $6.44 billion to NCI in FY2019, as per the Department of Health and Human Services Appropriations Act and the 21st Century Cures Act, has further brightened the prospects for key players to bring a diagnostic or therapeutic innovation to the market with conditional support (pertaining to innovation or diagnostic/therapeutic breakthrough and a relative grant triggered from NCI).
The presence of major service providers of solid tumor testing in the U.S. has a major impact on the market. For instance, Illumina, Inc. acquired GRAIL which is a cancer detection healthcare company. With this acquisition, Illumina, Inc. can accelerate the adoption of this lifesaving Galleri blood test worldwide which is known to detect 50 different cancer types.
Companies such as QIAGEN partnered with PGDx for molecular cancer testing. With the help of this, laboratories will be able to receive standardized reporting from QIAGEN and receive access to QIAGEN’s QCI Interpret One for rapid next-generation sequencing tests.
Technology (Next-Generation Sequencing, Polymerase Chain Reaction, Fluorescence In-Situ Hybridization, Immunohistochemistry, Liquid Chromatography/Mass Spectrometry, Other Technologies)
Based on technology, the U.S. solid tumor testing market is expected to be dominated by the next-generation sequencing technology. This is due to the high accuracy and efficiency of next-generation sequencing techniques.
Cancer Type (Breast Cancer, Prostate Cancer, Colorectal Cancer, Lung Cancer, Melanoma, Endometrial Cancer, Lymphoma, Thyroid Cancer, Brain Cancer, Other Cancer Types)
Based on cancer type, the U.S. solid tumor testing market is dominated by breast cancer, owing to an increasing number of patients suffering from breast cancer and also more awareness and better diagnosis of cancer.
Type of Biomarker (Genetic Biomarker,…