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Dublin, April 19, 2021 (GLOBE NEWSWIRE) -- The "Global Solid Tumor Testing Market 2019-2030: Focus on Technology, Cancer Type, Application, End-user and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering. This report highlights that the market is projected to reach $40.6 billion by 2030. The study also highlights that the market is set to witness a CAGR of 6.09% during the period 2020-2030. The market is driven by the need for the development of an advanced solution based on various technologies such as next-generation sequencing, in-situ hybridization, and polymerase chain reaction for cancer research in various applications such as diagnosis, prognosis, and treatment. The market is favored by the development of high-throughput, rapid, sensitive, and multi-parametric solutions for prognosis, diagnostics, and treatment. The gradual increase in the prevalence of cancer globally has furthered the solid tumor testing market. Furthermore, several contract research organizations are focusing on the development of solid tumor testing services, which enable to perform an extensive preclinical study at lower operation costs and less turn-around time. Within the research report, the market is segmented on the basis of cancer type, technology application, end-users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained. Competitive Landscape The exponential rise in the application of precision medicine on the global level has created a buzz among companies to invest in the development of high-resolution multiplex diagnostics providing information on cellular interaction and tissue heterogeneity to understand disease biology and pathology. Due to technologically advanced solutions and intense market penetration, companies such as Quest Diagnostics Incorporated have been a pioneer and a significant competitor in this market. Other key players in the market are Abbott Laboratories, Illumina, Inc., F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Beijing Genomics Institute (BGI), QIAGEN N.V., ASURAGEN, Inc., NeoGenomics Laboratories, Inc., Invivoscribe, Inc., Inviate Corporation, Opko Health, Laboratory Corporation of American Holdings, OmniSeq, and Guardant Health. On the basis of region, North America holds the largest share of the global solid tumor testing market due to improved healthcare infrastructure, rise in per capita income, and availability of state-of-the-art research laboratories and institutions in the region. The global solid tumor testing market utilizes technologies such as next-generation sequencing, in-situ hybridization, immunohistochemistry, polymerase chain reaction, and other technologies for the development of advanced diagnostic tools to cater to a holistic approach toward the treatment of cancer. The rising incidence of cancer and the increasing global burden of the disease has subsequently furthered the growth of the market. Key Questions Answered in this Report What are the major market drivers, challenges, and opportunities in the global solid tumor testing market?What is the potential impact of biotechnological advancements in the diagnostic industry among end-users such as researchers, pathologists, and laboratory technicians?What is the current market demand along with future expected demand for the global solid tumor testing market?What are the key development strategies that are implemented by the major players in order to sustain the competitive market?How is each segment of the market expected to grow during the forecast period 2020-2030?Which are the leading players with significant offerings to the global solid tumor testing market?What is the expected market dominance for each of these leading players?Which emerging companies are anticipated to be highly disruptive in the future, and what are their key strategies for sustainable growth in the global solid tumor testing market? Key Topics Covered: 1 Product Definition1.1 Inclusion and Exclusion 2 Market Scope2.1 Scope of Work2.2 Key Questions Answered in the Report 3 Research Methodology3.1 Global Solid Tumors Testing Market: Research Methodology3.2 Primary Data Sources3.3 Secondary Data Sources3.4 Market Estimation Model3.5 Criteria for Company Profiling 4 Market Overview4.1 Definition4.2 Solid Tumor Testing Technologies4.3 Industry Participants Landscape4.4 Impact of COVID-19 on Delivery of Care for Cancer Patients 5 Industry Insights5.1 Regulation of Genetic Tests5.1.1 FDA Regulation5.1.2 CMS Regulation5.2 Legal Requirements and Framework in Europe5.3 Legal Requirements and Framework in Asia-Pacific5.3.1 China5.3.2 Japan5.4 Reimbursement Scenario5.4.1 Impact on Laboratory Industry 6 Market Dynamics6.1 Impact Analysis6.2 Market Drivers6.2.1 Rising Incidence of Cancers6.2.2 Decreasing Cost of Sequencing6.2.3 Increasing Adoption of Inorganic Growth Strategies in the Market6.2.4 Expected Increase in Adoption of Genetic Testing6.3 Market Restraints6.3.1 Uncertain Reimbursement Policies6.3.2 Requirement of High Capital Investment Hindering Expansion6.3.3 High Pricing Pressure6.4 Market Opportunities6.4.1 Massive Scope for Adoption of Genomic-Based Medicine in Emerging Nations6.4.2 Technological Advancements in the Field of Cancer Genomics6.4.3 Mushrooming Direct-to-Consumer (DTC) Testing Services Market6.4.4 Increasing Disposable Income in Emerging Economies 7 Competitive Landscape7.1 Key Strategies and Developments7.1.1 Synergistic Activities7.1.2 Approvals7.1.3 Product Launches, Enhancements, and Expansions7.1.4 Acquisitions and Mergers7.2 Product Scenario7.3 Market Share Analysis7.4 Growth-Share Analysis (Opportunity Mapping)7.4.1 By Company7.4.2 By Technology7.4.3 By Application7.4.4 By Cancer Type 8 Global Solid Tumor Testing Market (by Technology), $Million, 2019-20308.1 Overview8.2 Next-Generation Sequencing8.3 In Situ Hybridization8.4 Polymerase Chain Reaction8.5 Immunohistochemistry8.6 Other Technologies 9 Global Solid Tumor Testing Market (by Cancer Type), $Million, 2019-20309.1 Overview9.2 Breast Cancer9.3 Prostate Cancer9.4 Colorectal Cancer9.5 Lung Cancer9.6 Melanoma9.7 Endometrial Cancer9.8 Thyroid Cancer9.9 Brain Cancer9.1 Ovarian Cancer9.11 Liver Cancer9.12 Other Cancer Types 10 Global Solid Tumor Testing Market, by Application, $Million, 2019-203010.1 Overview10.2 Clinical10.3 Research 11 Global Solid Tumor Testing Market (by Region), $Million, 2019-203011.1 Overview11.2 North America11.2.1 U.S.11.2.2 Canada11.3 Europe11.3.1 Germany11.3.2 U.K.11.3.3 France11.3.4 Italy11.3.5 Spain11.3.6 Rest-of-Europe11.4 Asia-Pacific11.4.1 China11.4.2 Japan11.4.3 India11.4.4 Singapore11.4.5 Australia11.4.6 Rest-of-APAC11.5 Latin America11.5.1 Brazil11.5.2 Mexico11.5.3 Rest-of-LATAM11.6 Rest-of-the-World (RoW) 12 Global Solid Tumor Testing Market, by End User, $Million, 2019-203012.1 Overview12.2 Hospitals, Diagnostic Laboratories, and Reference Laboratories12.3 Pharmaceutical and Biotechnology Companies12.4 Contract Research Organizations12.5 Academic Research Institutions12.6 Other End Users 13 Company Profiles13.1 Overview13.2 Abbott Laboratories13.2.1 Company Overview13.2.2 Role of Abbott Laboratories in the Global Solid Tumor Testing Market13.2.3 Financials13.2.4 Key Insights About Financial Health of the Company13.2.5 SWOT Analysis13.3 ARUP Laboratories13.3.1 Company Overview13.3.2 Role of ARUP Laboratories in the Global Solid Tumor Testing Market13.3.3 SWOT Analysis13.4 ASURAGEN, INC.13.4.1 Company Overview13.4.2 Role of ASURAGEN, INC. in the Global Solid Tumor Testing Market13.4.3 SWOT Analysis13.5 Bio-Rad Laboratories, Inc.13.5.1 Company Overview13.5.2 Role of Bio-Rad Laboratories, Inc. in the Global Solid Tumor Testing Market13.5.3 Financials13.5.4 Key Insights About Financial Health of the Company13.5.5 SWOT Analysis13.6 Beijing Genomics Institute (BGI) Genomics Co., Ltd13.6.1 Company Overview13.6.2 Role of Beijing Genomics Institute (BGI) Genomics Co., Ltd in the Global Solid Tumor Testing Market13.6.3 SWOT Analysis13.7 F. Hoffmann-La Roche Ltd.13.7.1 Company Overview13.7.2 Role of F. Hoffmann-La Roche Ltd in the Global Solid Tumor Testing Market13.7.3 Financials13.7.4 Key Insights About Financial Health of the Company13.7.5 SWOT Analysis13.8 Guardant Health13.8.1 Company Overview13.8.2 Role of Guardant Health in the Global Solid Tumor Testing Market13.8.3 Financials13.8.4 SWOT Analysis13.9 Illumina, Inc.13.9.1 Company Overview13.9.2 Role of Illumina, Inc. in the Global Solid Tumor Testing Market13.9.3 Financials13.9.4 Key Insights About Financial Health of the Company13.9.5 SWOT Analysis13.1 Invivoscribe, Inc.13.10.1 Company Overview13.10.2 Role of Invivoscribe, Inc. in the Global Solid Tumor Testing Market13.10.3 SWOT Analysis13.11 Invitae Corporation13.11.1 Company Overview13.11.2 Role of Invitae Corporation, Inc. in the Global Solid Tumor Testing Market13.11.3 Financials13.11.4 Key Insights About Financial Health of the Company13.11.5 SWOT Analysis13.12 Laboratory Corporation of America Holdings13.12.1 Company Overview13.12.2 Role of Laboratory Corporation of America Holdings in the Global Solid Tumor Testing Market13.12.3 Financials13.12.4 SWOT Analysis13.13 NeoGenomics Laboratories, Inc.13.13.1 Company Overview13.13.2 Role of NeoGenomics Laboratories, Inc. in the Global Solid Tumor Testing Market13.13.3 Financials13.13.4 Key Insights About Financial Health of the Company13.13.5 SWOT Analysis13.14 Opko Health13.14.1 Company Overview13.14.2 Role of Opko Health, Inc. in the Global Solid Tumor Testing Market13.14.3 Financials13.14.4 Key Insights About Financial Health of the Company13.14.5 SWOT Analysis13.15 OmniSeq13.15.1 Company Overview13.15.2 Role of OmniSeq in the Global Solid Tumor Testing Market13.15.3 SWOT Analysis13.16 QIAGEN N.V.13.16.1 Company Overview13.16.2 Role of QIAGEN N.V. in the Global Solid Tumor Testing Market13.16.3 Financials13.16.4 Key Insights About Financial Health of the Company13.16.5 SWOT Analysis13.17 Quest Diagnostics Incorporated13.17.1 Company Overview13.17.2 Role of Quest Diagnostics Limited in the Global Solid Tumor Testing Market13.17.3 Financials13.17.4 SWOT Analysis For more information about this report visit https://www.researchandmarkets.com/r/2otjgb CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900