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The NTRK fusion gene-positive advanced solid tumor market share is expected to increase by USD 126.71 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.99%.
This NTRK fusion gene-positive advanced solid tumor market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers NTRK fusion gene-positive advanced solid tumor market segmentation by application (clinical and research) and geography (North America, Europe, Asia, and Rest of World (ROW)). The NTRK fusion gene positive advanced solid tumor market report also offers information on several market vendors, including Empire Genomics Inc., F. Hoffmann La Roche Ltd., NeoGenomics Laboratories Inc., OncoDNA SA, LGC Clinical Diagnostics Inc., and Bayer AG among others.
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The increasing incidence of cancer is notably driving the NTRK fusion gene-positive advanced solid tumor market growth, although factors such as the dearth of skilled laboratory technicians may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the NTRK fusion gene-positive advanced solid tumor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key NTRK Fusion Gene-Positive Advanced Solid Tumor Market Driver
The increasing incidence of cancer is one of the key drivers supporting the NTRK fusion gene-positive advanced solid tumor market growth. Colorectal cancer is the third most common type of cancer globally. The incidence of colorectal cancer has typically increased in low and middle-income countries in recent years. Although the risk of the disease in adults aged below 50 years is relatively lower than that among older adults, the recent trends showing increased prevalence of the disease in younger age groups are an indicator of the rising exposure to risk factors, thereby foreshadowing the future cancer burden. Thus, the increasing incidence of different types of cancers will subsequently increase the diagnosis of NTRK fusion gene-positive advanced solid tumors, which is expected to drive the growth of the market during the forecast period.
Key NTRK Fusion Gene-Positive Advanced Solid Tumor Market Trend
High demand for biomarker-based tests is one of the key NTRK fusion gene-positive advanced solid tumor market trends that is contributing to the market growth. Sophisticated RD in proteomics, nucleic acid expression, and genome sequencing has led to the emergence of molecular biomarkers. Biomarkers are proteins, genes, hormones, and other molecular entities that detect the absence or presence of a disease. Technological advancements are driving manufacturers to develop assays that identify such biomarkers in high-growth clinical areas. Biomarker-based tests will likely replace conventional drug therapeutics and account for increased revenue and sales from personalized test devices. To ensure better reach in the market, companies are developing cost-effective biomarker-based tests for NTRK fusion gene-positive advanced solid tumors which is expected to propel the market growth during the forecast period.
Key NTRK Fusion Gene-Positive Advanced Solid Tumor Market Challenge
The dearth of skilled laboratory technicians is one of the factors hindering the NTRK fusion gene-positive advanced solid tumor market growth. The lack of skilled technicians is a common challenge in hospitals and clinical and diagnostic laboratories in many developing as well as underdeveloped countries in APAC and the Sub-Saharan region. This will pose a major threat, as improper testing can lead to errors in the test results. The adoption of non-invasive techniques in cancer diagnosis and treatment is increasing worldwide. However, most laboratory technicians are not qualified to perform these advanced tests. Therefore, companies are providing training to technicians to overcome this hurdle. However, there are no standard guidelines for tests, which can hinder the market growth during the forecast period.
This NTRK fusion gene-positive advanced solid tumor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global NTRK fusion gene-positive advanced solid tumor market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the NTRK fusion gene-positive advanced solid tumor market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the NTRK fusion gene-positive advanced solid tumor market encompasses successful business strategies deployed by the key vendors. The NTRK fusion gene-positive advanced solid tumor market is concentrated and the vendors are deploying growth strategies such as undergoing collaborations or acquisitions to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The NTRK fusion gene positive advanced solid tumor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the NTRK fusion gene positive advanced solid tumor market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market's growth will originate from North America during the forecast period. The US is the key market for the NTRK fusion gene-positive advanced solid tumor market in North America. Market growth in this region will be slower than the growth of the market in other regions.
The increasing prevalence of cancer will facilitate the NTRK fusion gene-positive advanced solid tumor market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 adversely affected all countries in North America, especially the US. It also had a slight negative impact on the cancer diagnostic test related to the market in the region. However, by the second half of 2020, lockdown-related restrictions in the region were relaxed to some extent which allowed movement of people, which thus helped in increasing the number of people going to diagnostic centers and hospitals. Thus, the resumption operations for healthcare diagnostics apart from COVID-19 will drive the demand for cancer diagnostic devices in North America during the forecast period.
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The NTRK fusion gene-positive advanced solid tumor market share growth by the clinical segment will be significant during the forecast period. Neurotrophic tyrosine receptor kinase (NTRK) fusions are seen in a few rare types of cancer and infrequently occur in some common cancers, such as melanoma, glioma, and carcinomas of the thyroid, lung, and colon. The accurate identification of NTRK fusion-driven cancer is clinically important and may be achieved using multiple methods. There are multiple methods for identifying NTRK fusions, including pan-TRK immunohistochemistry and fluorescence in-situ hybridization and sequencing methods. Such importance of clinical segment will drive market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the NTRK fusion gene-positive advanced solid tumor market size and actionable market insights on post COVID-19 impact on each segment.
NTRK Fusion Gene Positive Advanced Solid Tumor Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.99% |
Market growth 2022-2026 |
$ 126.71 million |
Market structure |
Concentrated |
YoY growth (%) |
4.34 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 42% |
Key consumer countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Empire Genomics Inc., F. Hoffmann La Roche Ltd., NeoGenomics Laboratories Inc., OncoDNA SA, LGC Clinical Diagnostics Inc., and Bayer AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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