Global Solid Tumor Testing Market Size, Share And Growth Analysis For 2024-2033

Solid Tumor Testing Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 5, 2024 /EINPresswire.com/ -- The solid tumor testing market has experienced robust growth in recent years, expanding from $25.74 billion in 2023 to $27.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to personalized or precision medicine, poor tumor-selective drug delivery, low therapeutic efficacy, unsustainable costs, reductionist approaches to cancer chemotherapies.

Strong Future Growth Anticipated
The solid tumor testing market is projected to continue its strong growth, reaching $36.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increasing prevalence of cancer, increasing healthcare infrastructure, emergence of ai and iot-based diagnostic devices, increasing government initiatives.

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Growth Driver Of The Solid Tumor Testing Market
Growing healthcare expenditure is significantly contributing to the growth of the solid tumor testing market going forward. Healthcare expenditure refers to all expenditures for the provision of health services, family planning activities, nutrition activities and emergency aid designated for health, but it excludes the provision of drinking water and sanitation. Rising healthcare expenditure and reimbursement support for cancer diagnostics contribute to the growth of the solid tumor testing market. By exploring innovative solutions and optimizing testing strategies, we can strive to provide effective cancer diagnosis.

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Major Players And Market Trends
Key players in the solid tumor testing market include Johnson & Johnson Ltd., Roche Diagnostics Corporation, Thermo Fisher Scientific Inc., Abbott Molecular Inc., Becton Dickinson And Company (BD).
Innovative liquid biopsy test solutions are a key trend gaining popularity in the solid tumor testing market. Major companies operating in the solid tumor testing market are focused on developing innovative liquid biopsy test solutions to strengthen their position and gain a competitive advantage in the market.

Segments:
1) By Type: Genetic Testing, Conventional Testing
2) By Cancer Type: Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Cervical Cancer
3) By Application: Clinical, Research
4) By End-Users: Hospitals, Pharmaceutical And Biotechnology Companies, Contract Research Organizations, Academic Research Institutions

Geographical Insights: North America Leading The Market
North America was the largest region in the solid tumor testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solid tumor testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Solid Tumor Testing Market Definition
Solid tumor testing refers to the diagnostic and molecular testing conducted on solid tumors, which are masses or growths of abnormal cells that form in various body tissues. Solid tumor testing is used to detect cancer cells or cancer-related DNA in patients' blood with solid tumors, even if the cancer is not yet visible on imaging tests.

Solid Tumor Testing Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Solid Tumor Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on solid tumor testing market size, solid tumor testing market drivers and trends, solid tumor testing market major players, solid tumor testing competitors' revenues, solid tumor testing market positioning, and solid tumor testing market growth across geographies. The solid tumor testing market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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