The clinical oncology next generation sequencing market size is expected to see rapid growth in the next few years. It will grow to $0.86 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The anticipated growth in the forecast period can be attributed to factors such as the increasing incidence of cancer, the emergence of precision medicine, the advancements in immuno-oncology, and the adoption of liquid biopsies. Key trends expected in the forecast period encompass comprehensive genomic profiling (CGP), developments in immuno-oncology, the study of tumor evolution and heterogeneity, and the integration of AI and machine learning in oncology research.
The increasing number of cancer cases worldwide is expected to be a contributing factor to the growth of the clinical oncology next-generation sequencing market in the foreseeable future. In 2021, the USA alone reported 1.9 million new cancer cases and 0.6 million cancer-related deaths, according to data from the American Cancer Society. The most common cancer types globally include lung, prostate, colorectal, and breast cancer, accounting for 43% of all new cancer cases. Consequently, the rising global incidence of cancer is likely to drive demand and foster growth in the clinical oncology next-generation sequencing market.
The primary technologies in clinical oncology NGS encompass ion semiconductor sequencing, pyro-sequencing, synthesis sequencing, real-time sequencing, ligation sequencing, reversible dye termination sequencing, and nanopore sequencing. Ion semiconductor sequencing is a sequencing technique based on the detection of hydrogen ions released during DNA polymerization. Clinical oncology NGS finds applications in various areas, including screening, companion diagnostics, and other diagnostic purposes, and it is used by a range of end-users, including hospital laboratories, clinical research organizations, and diagnostic laboratories.
The clinical oncology next-generation sequencing market research report is one of a series of new reports that provides clinical oncology next-generation sequencing market statistics, including clinical oncology next-generation sequencing industry global market size, regional shares, competitors with a clinical oncology next-generation sequencing market share, detailed clinical oncology next-generation sequencing market segments, market trends and opportunities, and any further data you may need to thrive in the clinical oncology next-generation sequencing industry. This clinical oncology next-generation sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growing prevalence of cancer is projected to serve as a catalyst for the expansion of the clinical oncology next-generation sequencing market. Cancer is an umbrella term for a group of diseases characterized by the uncontrolled proliferation and spread of abnormal cells within the body. Next-generation sequencing (NGS) plays a crucial role in identifying novel and rare mutations in cancer, enabling a deeper understanding of the molecular basis of individual tumors. For instance, data from the American Cancer Society in 2021 indicated that there would be an estimated 608,570 cancer-related deaths and 1.9 million new cancer cases diagnosed in that year. Thus, the increasing prevalence of cancer is a key driver of growth in the clinical oncology next-generation sequencing market.
The high costs associated with clinical oncology next-generation sequencing present a significant challenge for patients worldwide. There is a pervasive need to control expenses and demonstrate the value of healthcare services. Ongoing political uncertainties and economic pressures in many countries raise questions about the sustainability of public healthcare funding. In low-income nations, the absence of cost-effective cancer therapies has a substantial impact on the health and life expectancy of the population. An article published in 2020 by Genetics in Medicine reported genome sequencing costs of around £6,841 per cancer case and approximately £7,050 per rare disease case. The primary cost factors are the consumables required in the sequencing process, and equipment costs for rare cancer diseases are higher than those for common cancers. These factors restrain the growth of the market.
Companies in the clinical oncology next-generation sequencing market are increasingly investing in workflow automation to enhance precision and reduce sample-to-sample variability. For example, Agilent automation solutions have developed an automated system that enables a higher number of parallel reactions, reduces sample processing time, increases the volume of processed samples, and minimizes variability between samples. Additionally, companies like Sophia Genetics are focusing on data-driven medicine and the automation of DNA sequencing to enhance diagnostic and treatment capabilities.
Major companies operating in the clinical oncology next-generation sequencing market are introducing innovative products like the BenchMark ULTRA PLUS system to enhance their market competitiveness. The BenchMark ULTRA PLUS System is a valuable tool for clinical laboratories, particularly those involved in cancer diagnostics and research, as it ensures the accuracy and efficiency of diagnostic tests, ultimately contributing to improved patient care. For example, in June 2022, the Switzerland-based pharmaceutical company Roche unveiled the BenchMark ULTRA PLUS system, their state-of-the-art platform for tissue staining. This system provides clinicians with rapid and accurate test results, aiding in timely treatment decisions for patients.
In April 2021, Agilent Technologies, a US-based life sciences technology company, acquired Resolution Bioscience for an undisclosed amount, which expanded Agilent's capabilities in next-generation sequencing for cancer diagnostics. Resolution Bioscience is a US-based developer of precision oncology solutions based on next-generation sequencing (NGS).
Major companies operating in the clinical oncology next generation sequencing market include Thermo Fisher Scientific, Oxford Nanopore Technologies Ltd., QIAGEN N.V., Myriad Genetics Inc., Illumina Inc., F. Hoffmann-La Roche Ltd., PerkinElmer Inc., Agilent Technologies Inc., Pacific Biosciences of California Inc., Caris Life Sciences, Paradigm Diagnostics, GATC Biotech AG, Macrogen Inc., DNASTAR Inc., Exosome Diagnostics Inc., Biomatters Ltd., Partek Inc., Foundation Medicine Inc., Becton Dickinson and Company (BD), Takara Bio Inc., Creative Biolabs, Mogene LC, Knome Inc., Genomatix Software GmbH, CLC bio, GnuBIO Inc., Bio-Rad Laboratories Inc., BGI Genomics Co. Ltd., Guardant Health Inc., Invitae Corporation, Natera Inc., NeoGenomics Laboratories Inc., Sysmex Corporation, Veracyte Inc., Zymo Research Corporation, ArcherDX Inc., Cepheid, Karius Inc., OncoDNA S.A., Personal Genome Diagnostics Inc., PierianDx Inc.
North America was the largest region in the clinical oncology next-generation sequencing market in 2023. Asia-Pacific was the second largest region in the clinical oncology next-generation sequencing market. The regions covered in the clinical oncology next generation sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the clinical oncology next generation sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The clinical oncology next-generation sequencing market consists of sales of genetic sequencing equipment with advanced features and technologies such as ion semiconductors sequencing, pyro-sequencing, synthesis sequencing (SBS), real-time sequencing (SMRT), ligation sequencing, and other techniques that are used in oncology research for determining the nucleotide sequence leading to clinical oncology. 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.
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Table of Contents
Executive Summary
Clinical Oncology Next Generation Sequencing Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on clinical oncology next generation sequencing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description:
Where is the largest and fastest growing market for clinical oncology next generation sequencing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
- Markets Covered: 1) By Technology: Ion Semiconductor Sequencing; Pyro-Sequencing; Synthesis Sequencing; Real Time Sequencing; Ligation Sequencing; Reversible Dye Termination Sequencing; Nano-Pore Sequencing; 2) By Application: Screening; Companion Diagnostics; Other Diagnostics; 3) By End User: Hospital Laboratories; Clinical Research Organizations; Diagnostic laboratories
- Companies Mentioned: Thermo Fisher Scientific; Oxford Nanopore Technologies Ltd.; QIAGEN N.V.; Myriad Genetics Inc.; Illumina Inc.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Thermo Fisher Scientific
- Oxford Nanopore Technologies Ltd.
- QIAGEN N.V.
- Myriad Genetics Inc.
- Illumina Inc.
- F. Hoffmann-La Roche Ltd.
- PerkinElmer Inc.
- Agilent Technologies Inc.
- Pacific Biosciences of California Inc.
- Caris Life Sciences
- Paradigm Diagnostics
- GATC Biotech AG
- Macrogen Inc.
- DNASTAR Inc.
- Exosome Diagnostics Inc.
- Biomatters Ltd.
- Partek Inc.
- Foundation Medicine Inc.
- Becton Dickinson and Company (BD)
- Takara Bio Inc.
- Creative Biolabs
- Mogene LC
- Knome Inc.
- Genomatix Software GmbH
- CLC bio
- GnuBIO Inc.
- Bio-Rad Laboratories Inc.
- BGI Genomics Co. Ltd.
- Guardant Health Inc.
- Invitae Corporation
- Natera Inc.
- NeoGenomics Laboratories Inc.
- Sysmex Corporation
- Veracyte Inc.
- Zymo Research Corporation
- ArcherDX Inc.
- Cepheid
- Karius Inc.
- OncoDNA S.A.
- Personal Genome Diagnostics Inc.
- PierianDx Inc.
Methodology
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