Challenges in the Solid Tumor Testing Market: Strategies for Sustaining 8.0% CAGR Forecast (2023-28)

Global Solid Tumor Testing Market Report Overview:

According to current research by MarkNtel Advisors the Global Solid Tumor Testing Market is estimated to grow at a CAGR of around 8.0% during the forecast period, i.e., 2023-28. Data at the global, regional, and sub-regional levels are included in the report to assist stakeholders in better understanding supply and demand dynamics and how they affect the sector.

Professionals in the industry have conducted a thorough analysis of the global Solid Tumor Testing market report, which has been presented in a way that highlights the most important facts. The most up-to-date data on the global market is the primary emphasis of the research. It includes several significant topics, such as corporate profiles, mergers and acquisitions, financial status, and feasibility research. It offers thorough details on industry chain analysis, marketing routes, and raw material costs. Stakeholders can learn more about market viability and financial sustainability through this abundance of information available. In addition, it provides a comprehensive picture of the market dynamics by illuminating the strategic actions made by organizations, their profiles, and the entire industry value chain. 

Scope of the report:

Within the market under study, the report looks at the numerous applications, products/services, market value, and production capacity. In addition, it provides a thorough SWOT analysis, a threat and opportunity analysis, and a summary of the leading regions. Through this, stakeholders may find out more about the market potential for application, diversity of products/services, and market value. In addition, the research offers an evaluation of the opportunities, threats, weaknesses, and strengths, enabling stakeholders to comprehend the market environment and make wise decisions.

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Global Solid Tumor Testing Market Trend:

Rising Adoption of Next-generation sequencing (NGS) technique in Solid Tumor Testing – Next-generation sequencing (NGS) is a technique used to analyze multiple genomes at a time. The growing incidence of chronic & life-threatening diseases like cancer demands fast & precise testing results for patient treatment. NGS technique also permits the technician to analyze epigenetic factors such as genome-wide DNA methylation & DNA-protein interactions, utilize RNA sequencing (RNA-Seq) to discover novel RNA variants & splice sites, and quantify mRNAs for gene expression analysis. All these factors result in an increased adoption rate of the NGS technique.

Thus, the advancement in technology of NGS technique & rapid testing results in the highest accuracy & precision. All these factors, along with its declining test cost, create a trend in the market of solid tumor testing in the forecasting period of 2023-28.

Competitive Landscape:

To provide a clear picture of the competitive environment of the studied industry, we conducted a detailed analysis of both the major global players and the important regional small- and medium-sized businesses with significant growth potential. This global Solid Tumor Testing market research provides information on the competitors, including their sales volume and revenue with corresponding market shares, price, and gross margin. It also examines the current competitive situation of the market. Furthermore, discussed are the market concentration ratio, mergers, acquisitions, and expansion strategies.

  • Abbott Laboratories
  • ARUP Laboratories
  • Bio-Rad Laboratories, Inc
  • Beijing Genomics Institute (BGI) Genomics Co., Ltd
  • Hoffmann-La Roche Ltd
  • Guardant Health
  • Illumina, Inc.
  • Invivoscribe, Inc.
  • Invitae Corporation
  • Laboratory Corporation of America Holdings
  • NeoGenomics Laboratories, Inc.
  • Opko Health
  • OmniSeq
  • Quest Diagnostics Inc
  • Others

Explore Our Comprehensive Study:

By identifying the high-growth sectors, the study also gives stakeholders valuable insights into the trends and factors that are either driving or impeding the market growth possibilities.

Global Solid Tumor Testing Market Segmentation

-By Technologies

  • In Situ Hybridization
  • Immunohistochemistry
  • Polymerase Chain Reaction
  • Next-Generation Sequencing
  • Other Technologies (Microarray, ELISA, and LC/MS)

Next-Generation Sequencing (NGS) is becoming an integral part of clinical molecular diagnostics due to the high efficacy of the test results. However, sequencing of the whole genome is still difficult to implement in a standard clinical laboratory setting. This is largely due to the factors such as the high costs of sequencing & issues surrounding data processing, analysis, and data storage, which can reduce efficiency & increase turnaround times. The role of PCR techniques in targeted NGS sequencing is vital as they allow for the simultaneous generation of multiple NGS libraries & the sequencing of multiple targeted regions. Additionally, greater precision care has also been obtained by the coupling of NGS diagnosis & PCR techniques.

-By Cancer Type

  • Prostate Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Endometrial Cancer
  • Melanoma
  • Lung Cancer
  • Thyroid Cancer
  • Brain Cancer
  • Ovarian Cancer
  • Liver Cancer
  • Other Cancer Types

-By Application

  • Clinical
  • Research

-By End Users

  • Hospitals, Diagnostic Laboratories, and Reference Laboratories
  • Pharmaceutical & Biotechnology Companies
  • Contract Research Organizations (CROs)
  • Academic Research Institutions
  • Other End Users

Customization of Reports Available –

Solid Tumor Testing Market Geographical Reach:

-By Region

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia Pacific

Key Benefits for Stakeholders:

  • To determine the prevailing market opportunities, this research offers a quantitative study of the market segments, current trends, projections, and shifts in the global Solid Tumor Testing market analysis from 2023-28.
  • Information on the main factors driving the market as well as the obstacles and possibilities are provided.
  • The power of suppliers and buyers to empower stakeholders to make profit-driven business decisions and fortify their supplier-buyer network is underscored by Porter’s five forces analysis.
  • A comprehensive examination of the Solid Tumor Testing market segmentation aids in identifying the dominant market opportunities.
  • The major countries in each area are shown about the revenue they generate for the global market.
  • Market player positioning makes benchmarking easier and gives a clear picture of the current market position of each participant discussed in the report.
  • The research analyzes market trends for the Solid Tumor Testing industry on a regional and global scale, as well as the major competitors, market segments, and industry expansion tactics.

About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others.

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