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Solid Tumor Testing Market Trends

Report ID: GMI11699 Published Date: October 2024Report Format: PDF
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Summary
Table of Content

Solid Tumor Testing Market Trends

  • The market is experiencing a surge in technological advancements that are revolutionizing the detection, diagnosis, and management of solid tumors.
  • Next-Generation Sequencing (NGS) stands at the forefront of these innovations, enabling high-throughput analyses of multiple genes simultaneously, thereby enhancing efficiency and accuracy in cancer diagnostics. NGS also allows for the analysis of DNA methylation patterns and RNA sequencing, providing deeper insights into tumor biology and supporting personalized treatment approaches.
  • Advancements in imaging technologies, such as molecular imaging, enable the visualization of biological processes at the molecular level, aiding in early tumor detection and treatment efficacy assessment.
  • The integration of artificial intelligence (AI) algorithms further enhances image analysis, improving accuracy in detecting and classifying tumors from imaging studies.
  • Additionally, the identification and validation of new cancer biomarkers are crucial for improving diagnostic precision. For example, recent advancements include the development of multiplex biomarker panels, which allow for the simultaneous assessment of multiple biomarkers from a single sample, enhancing diagnostic capabilities and treatment stratification.
  • These technological advancements not only improve the accuracy and speed of solid tumor diagnostics but also support personalized treatment strategies, ultimately leading to better patient outcomes in cancer care.
Author: Mariam Faizullabhoy, Gauri Wani
Frequently Asked Question(FAQ) :

Why is genetic testing leading in the solid tumor testing industry?+

The genetic testing segment dominated the market in 2023, accounting for USD 13.6 billion.

How big is the solid tumor testing market?+

The solid tumor testing industry was valued at approximately USD 20.5 billion in 2023 and is estimated to grow at a 7.6% CAGR from 2024 to 2032, driven by rising cancer incidences and increased awareness.

How much is the North America solid tumor testing market worth?+

The North America market generated USD 7.7 billion in revenue from solid tumor testing in 2023 and is anticipated to grow at a CAGR of 7.3% from 2024 to 2032. This growth is fueled by the region's advanced healthcare system and access to state-of-the-art diagnostic technologies.

Who are some of the prominent players in the solid tumor testing industry?+

Key players in the industry include Abbott, Agilent Technologies, Inc., Caris Life Sciences, F. Hoffmann-La Roche Ltd, Foundation Medicine, Inc., Guardant Health, Hologic, Inc., Illumina, Inc., MedGenome, and Myriad Genetics, Inc.

Solid Tumor Testing Market Scope

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