BIS Research Study Highlights the U.S. Solid Tumor Testing Market to Reach $15.39 Billion by 2030

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Aug 05, 2020, 08:30 ET

FREMONT, Calif., Aug. 5, 2020 /PRNewswire/ -- The U.S. Solid Tumor Testing Market is projected to reach $15.39 billion by 2030, reveals the premium market intelligence study by BIS Research. The study also highlights that the market is set to witness a CAGR of 5.91% from 2020 to 2030.

The comprehensive study of the U.S. solid tumor testing market by BIS Research extensively covers the following:

Market numbers on micro-segments that are influencing the market
More than 1200 products present in the market
Pricing data for more than 500 products
Evaluation of over 100 brands
Market share analysis for more than 10 product categories
End user preference data for over 40 end users
Detailed country-level and state-level market share analysis - scrutiny of six regions and 51 states.
Study of data of more than 50 companies

The detailed study is a compilation of 9 Market Data Tables and 204 Figures spread through 283 Pages and in-depth TOC on U.S. Solid Tumor Testing Market - Analysis and Forecast, 2020-2030

Besides these parameters, the study also encompasses the market growth drivers, opportunities, market restraining factors, competition mapping, segmental analysis, and a visual dashboard of 1200+ products.

BIS Research study indicates that the rising incidence of cancer, the increasing adoption of inorganic growth strategies in the market, and increasing research funding from the National Cancer Institute, among others, are fueling the growth of the market.

The study highlights the various emerging opportunities, such as growth in state-regions, expected increase in the adoption of genetic testing, and technological and informatics innovations for the larger consumer base that can be leveraged by players operating in the market.

The market intelligence by BIS Research additionally throws a spotlight on the key industry trends that have a massive influence on shaping the industry going forward. Some of these trends include the higher reimbursement rates for advanced diagnostic tests, high patient adoption for precision diagnostics, an ongoing transition from volume-based care to value-based care, and several other key trends.

View the Report from BIS Research at U.S. Solid Tumor Testing Market

To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include cancer indications, technology types, biomarker type, applications, end-user analysis, and state regions. Each of these segments is further categorized into sub-segments and micro-segments to compile an in-depth study.

The study is majorly centered on the sub-segments and micro-segments of the different offerings available, such as products and services. The cancer indications segment is further segmented into the technologies available for each cancer type.

Emphasizing the dominance of NGS-based solid tumor tests over other technologies, Nitish Singh, Principal Analyst – BIS Research, states, "The reason for the dominance of NGS-based solid tumor tests over other technologies can be attributed to the higher reimbursement rates for NGS-based diagnostics. Also, it is anticipated, PCR will continue to grow significantly, owing to its well-defined workflow."

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Key insights are drawn from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The key players profiled in the report include Abbott Laboratories, Laboratory Corporation of America, Quest Diagnostics Incorporated, Illumina, F. Hoffmann-La Roche, ARUP Laboratories, Bio-Rad Laboratories Inc., Asuragen Inc., Cancer Genetics Inc., Invitae Corporation, NeoGenomics Laboratories, Inc., and QIAGEN N.V.

The study also offers strategic recommendations that can help organizations in tracking various products, trends, and technologies that are changing the dynamics of the market. The recommendations by BIS Research also offer bespoke research services to help organizations meet their objectives.

Who should buy this report?

Manufacturers of instruments, kits, assays, and consumables catering to the solid tumor testing market in the U.S.
Companies providing testing services for solid tumor testing in the U.S.
Companies entering the U.S. market with early-stage products and want to understand the reimbursement and regulatory landscape for solid tumor testing in the U.S.

How can this BIS Research report on the U.S. solid tumor testing landscape add value to an organization's decision-making process?

Aid in product development
Aid in understanding product-market fit for current offerings
Help in targeting a segment for launching a new product
Offer go-to-market strategies for the different source type
Support diversifying the product portfolio basis risk and progression of technology
Help in analyzing technological substitutes and compare the specification for each cancer indication
Help in understanding the reimbursement scenario to assess adoption among the target population
Offer tailor-made solutions based on the throughput of different labs
Aid in understanding the end-user requirement
Aid in assessing states with the highest growth opportunity for companies
Assist in exploring the newer application
Support in analyzing the competitors' funding scenario

Insightful Questions Covered to Enable Companies take Strategic Decisions

What are the estimated and projected numbers for the U.S. solid tumor testing market for 2019 and 2030?
What are the drivers, challenges, and opportunities that are influencing the dynamics of the market?
What is the competition layout of the market?
What are the parameters on which competition mapping is carried out in the study?
Which key development strategies are being followed and implemented by major players to sustain in the market?
How are different segments of the market expected to perform during the forecast period from 2019 to 2030? The segments included in the comprehensive market study are:

cancer type
technology
biomarker
application
end user
state

Which leading players are currently dominating the market, and what is the expected future scenario?
Which companies are anticipated to be highly disruptive in the future, and why?
How can the changing dynamics of the market impact the market share of different players operating in the market?
What are the strategic recommendations offered in the study?

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About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.

Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.

BIS Research offers syndicate as well as, custom studies, and expert consultations to firms, providing them specific and actionable insights on novel technology markets, business models, and competitive landscape.

BIS Healthcare scans, analyzes, and tracks markets to provide superior intelligence and consultations to its clients. Over the years, it has created a knowledge pool through whitepapers, analyst notes, case studies, and customized solutions.

In the past five years, BIS Healthcare has published more than 50 reports under the precision medicine banner. Additionally, BIS Research has been nominating Top 25 Voices in Precision Medicine on its Insight Monk platform for the past two years successfully.

BIS Healthcare caters to different facets of the healthcare industry, including Medical Devices, Digital Health, Life Sciences, Robotics and Imaging, Information Technology, Precision Medicine, and other emerging healthcare technologies, covering the entire industry spectrum.

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