Solid Tumor Testing Global Market Report 2024

The solid tumor testing market size has grown strongly in recent years. It will grow from $25.74 billion in 2023 to $27.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth observed in the historical period can be attributed to the rise of personalized or precision medicine, challenges associated with poor tumor-selective drug delivery, low therapeutic efficacy in traditional approaches, concerns related to unsustainable costs, and limitations of reductionist approaches in cancer chemotherapies.

The solid tumor testing market size is expected to see strong growth in the next few years. It will grow to $36.48 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth in the forecast period can be attributed to the increasing prevalence of cancer, the expansion of healthcare infrastructure, the emergence of AI and IoT-based diagnostic devices, and increasing government initiatives in the field. Key trends expected in the forecast period include advancements in diagnostic tools, the introduction of nanocarrier-based therapies, strategic collaborations, and the development of next-generation testing devices.

The solid tumor testing market is anticipated to experience growth, driven by an increase in the prevalence of cancer. Cancer, characterized by the uncontrolled growth and spread of abnormal cells, often in the form of solid tumors, remains a significant health concern. Solid tumor testing plays a crucial role in detecting cancer cells, even before they are visible on imaging tests. As of June 2023, a report from the Centers for Disease Control and Prevention revealed 1,603,844 new cancer cases and 602,347 cancer-related deaths in the US in 2020. The escalating prevalence of cancer, with 403 new cases and 144 cancer-related deaths reported for every 100,000 people, is a key factor propelling the growth of the solid tumor testing market.

A notable contributor to the growth of the solid tumor testing market is the increasing healthcare expenditure. Healthcare expenditure, covering all expenses related to health services and diagnostics, has witnessed a notable rise. The growth in healthcare expenditure and supportive reimbursement policies for cancer diagnostics are significant drivers for the solid tumor testing market. Data from June 2023, released by the Centers for Medicare & Medicaid Services (CMS), revealed that the national health expenditure (NHE) in the United States reached $4.3 trillion in 2021, accounting for 18.3% of the Gross Domestic Product (GDP). The substantial and continued growth in healthcare expenditure is expected to drive the solid tumor testing market.

A key trend in the solid tumor testing market is the emergence of innovative liquid biopsy test solutions. Major players in the market are actively engaged in developing liquid biopsy tests to enhance their market positions. In June 2020, NeoGenomics Inc., a US-based testing laboratory company, introduced a suite of three solid tumor liquid biopsy tests designed to detect cancer cells in the blood of patients with solid tumors. These tests offer non-invasive, early detection, and FDA-approved solutions, aiding in personalized treatment decisions with a quick turnaround time of seven days or fewer.

Companies in the solid tumor testing market are also focused on developing liquid biopsy platforms. These platforms utilize various technologies to analyze body fluids, typically blood, for cancer-related biomarkers. For instance, in January 2023, PrognomiQ, a US-based healthcare company, launched a multi-omics liquid biopsy platform. The platform is part of an ongoing prospective clinical program aiming to enroll 15,000 subjects, with a focus on leveraging multi-omics markers to distinguish between cancer and controls.

In June 2023, Quest Diagnostics, a US-based medical laboratory company, acquired Haystack Oncology Inc for $450 million. This acquisition is aimed at expanding access to liquid biopsy technology, strengthening research and development capabilities, and increasing market share in cancer diagnostics. Haystack Oncology Inc., an early-stage oncology company, specializes in developing solid tumor testing technology to improve outcomes for patients with cancer.

Major companies operating in the solid tumor testing market report are Johnson & Johnson Ltd, Roche Diagnostics Corporation, Thermo Fisher Scientific Inc., Abbott Molecular Inc., Becton Dickinson And Company (BD), Quest Diagnostics Incorporated, Tosoh Corporation, Agilent Technologies Inc., bioMerieux Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., QIAGEN GmbH, Miltenyi Biotec GmbH, Natera Inc., Myriad Genetics Inc., Novocure Inc., Invitae Corporation, Guardant Health Inc., Foundation Medicine Inc., Epic Sciences Inc., Biocare Medical LLC, Agena Bioscience Inc., Caris Life Sciences Inc., 20/20 Gene Systems Inc., Grail Inc., Avant Diagnostics Inc., Genomic Testing Cooperative, Eutropics Pharmaceuticals Inc., Anixa Biosciences Inc., Cellular Biomedicine Group.

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. The countries covered in the solid tumor testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The main types of solid tumor testing include genetic testing and conventional testing. Genetic testing is a medical test that examines an individual's DNA (genetic material) to identify changes or variations in genes, chromosomes, or proteins. This testing is applied in the treatment of various cancer types, including breast cancer, lung cancer, colorectal cancer, prostate cancer, and cervical cancer. Solid tumor testing serves various applications, including clinical and research purposes, and is utilized by diverse end-users such as hospitals, pharmaceutical and biotechnology companies, contract research organizations, and academic research institutions.

The solid tumor testing market research report is one of a series of new reports that provides solid tumor testing market statistics, including solid tumor testing industry global market size, regional shares, competitors with a solid tumor testing market share, detailed solid tumor testing market segments, market trends and opportunities, and any further data you may need to thrive in the solid tumor testing industry. This solid tumor testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The solid tumor testing market consists of revenues earned by entities by providing molecular profiling, next-generation sequencing, immunohistochemistry, fluorescence in situ hybridization (FISH), and biomarker testing services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).


The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.