Top players in Genetic Testing for Solid Tumors : Trends, SWOT Analysis And Strategies 2024 -2030 | Medgenome, QIAGEN, SCIEX, PREMIER Biosoft

By
Zaraki Kenpachi
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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.

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  • As per research, in year 2019, 1.7 million Americans were diagnosed by cancer. As per American Cancer Society, in year 2024, 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.

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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.

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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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