Genetic Testing for Solid Tumors Market: Introduction

  • Solid tumors are defined as the abnormal mass of tissues, which do not have cysts or liquid; these tumors are either benign or malignant. Sarcomas, lymphomas, and carcinomas are few types of solid tumors. Major cancer prevalence due to solid tumor cases drives the demand for better treatment. Solid tumors occur in various parts of the body such as bones, muscles, and organs. In children, 30% of cancer comprises solid tumors. The most common type of solid tumor found in children is brain tumor, followed by neuroblastoma, Wilms tumor, rhabdomyosarcoma, retinoblastoma, osteosarcoma, and Ewing sarcoma.
  • As per research, in year 2019, 1.7 million Americans were diagnosed by cancer. As per American Cancer Society, in year 2020, around 3600 new cases of bone & joint tumor are expected to be diagnosed and 1,720 deaths are expected due to this type of cancer in the U.S. Also, in adults, 40% of the primary bone cancers are chondrosarcomas followed by osteosarcomas (28%), Ewing tumors (8%), malignant fibrous histiocytoma (4%), and chordomas (10%). In children younger than 20 years of age, osteosarcoma accounted for 56% and Ewing Sarcoma accounted for 34%. All these statistics are estimated to drive the need for faster diagnosis for further treatment. Thus, genetic testing is an innovative approach for the diagnosis of solid tumors at a faster pace.

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Key Drivers, Restraints, and Opportunities of Global Genetic Testing for Solid Tumors Market

  • Molecular testing is an innovative approach in the treatment of solid tumor cancer types including lung cancer, breast, ovarian, and colorectal cancer, which is expected to augment the genetic testing for solid tumor market at the global level. Adoption of Next Generation Sequencing (NGS), Immunohistochemistry (IHC), Real Time PCR (RT-PCR), and other genetic testing for faster diagnosis of solid tumors is expected to propel the global genetic testing for solid tumors market.
  • Increasing prevalence of cancer including colorectal, breast, lung, and other cancer types are likely to boost the global genetic testing for solid tumors market during the forecast period. As per GLOBOCAN data. in year 2018, colorectal cancer was the third most common cancer diagnosed globally, with 2 million cases diagnosed in the same year. As per WHO, in year 2018, breast cancer impacted 2.1 million women and 627,000 women were estimated to die of breast cancer in the year 2018 s. This is likely to boost the genetic testing of solid tumors market.
  • Genetic testing would allow encoding of genetic alterations, especially protein kinases, which result in cancer development. Thus, DNA mutation profile would enable anti-cancer therapies and treatment. Four major types of gene alterations in cancer are Single nucleotide variants (SNVs), Small duplications of consecutive nucleotides, Exon or gene copy number changes, and Structural variants (SVs), which drive the need for molecular testing for early detection of symptoms and treatment.

North America to Capture Major Share of Global Genetic Testing for Solid Tumors Market

  • North America is expected to account for major share of the global genetic testing for solid tumors market, attributable to technological advancements, availability of the gene panel test for solid tumors, and rising prevalence of various cancer types. NGS panel tests such as Oncomine Dx Target Test, MSK?IMPACT, and FoundationOne CDx are widely available for patients suffering from various solid cancers. Presence of companies with expertise in offering diagnostic tests are likely to drive the genetic testing for solid tumors market in the region.
  • Asia Pacific is expected to grow at the highest pace in the genetic testing for solid tumors market during the forecast period. Growing prevalence of cancer, especially breast cancer, lung cancer, and colorectal cancer in countries of Asia Pacific is estimated to boost the genetic testing for solid tumors market in the region. Adoption of innovative gene panel tests for the diagnosis of solid tumors in children and adults is another factor anticipated to propel the market in the region.

Key Players Operating in Global Genetic Testing for Solid Tumors Market

The global genetic testing for solid tumors market is highly consolidated with the presence of key players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the global genetic testing for solid tumors market include:

  • Thermo Fischer Scientific
  • Medgenome
  • NeoGenomics Laboratories, Inc.
  • Foundation Medicine Inc.
  • Merck KGaA
  • QIAGEN
  • SCIEX
  • PREMIER Biosoft
  • Creative Biolabs
  • Other Prominent Players

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Global Genetic Testing for Solid Tumors Market: Research Scope

Global Genetic Testing for Solid Tumors Market: by Tumor Type

  • Sarcomas
    • Bone Cancer Sarcomas
    • Soft Tissue Sarcoma
  • Carcinomas
  • Lymphomas
    • Hodgkin’s Disease
    • Non-Hodgkin’s Lymphomas

Global Genetic Testing for Solid Tumors Market, by Genetic Testing

  • Next Generation Sequencing (NSG)
  • Polymerase Chain Reaction (PCR)
  • Immunohistochemistry (IHC)
  • Fluorescence in situ Hybridization (FISH)
  • Others

Global Genetic Testing for Solid Tumors Market, by End-user 

  • Hospitals
  • Diagnostic Centers
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Genetic Testing For Solid Tumors Market

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