NGS Oncology Global Market Report 2025

The NGS oncology market size has grown rapidly in recent years. It will grow from $17.36 billion in 2024 to $19.39 billion in 2025 at a compound annual growth rate (CAGR) of 11.7%. The growth during the historic period can be attributed to the increasing incidence of cancer, expanding research in cancer genomics, rising public awareness, development of healthcare infrastructure, and growing demand for personalized medicine.

The NGS oncology market size is expected to see rapid growth in the next few years. It will grow to $29.86 billion in 2029 at a compound annual growth rate (CAGR) of 11.4%. The projected growth in the forecast period is driven by the expansion of companion diagnostics, rising cancer prevalence, increased government and healthcare investments, broader clinical applications, and growing interest in targeted therapies. Key trends expected in this period include the integration of AI and machine learning, progress in single-cell sequencing, improvements in sequencing platforms, advancements in liquid biopsy technology, and developments in high-throughput sequencing platforms.

The increasing prevalence of cancer is expected to drive the growth of the NGS oncology market in the coming years. Cancer is a condition where abnormal cells grow uncontrollably and spread to other parts of the body, disrupting normal bodily functions. The rising prevalence of cancer is primarily due to aging populations, as the risk of developing cancer increases with age. NGS oncology helps address this growing cancer burden by enabling early detection, accurate diagnosis, and personalized treatment through detailed genetic profiling of tumors. According to the American Cancer Society, a U.S.-based nonprofit organization, in 2022, around 20 million new cancer cases were reported globally, resulting in 9.7 million deaths. Driven mainly by population growth, the global cancer burden is expected to rise to 35 million cases by 2050. Thus, the increasing prevalence of cancer will significantly drive the expansion of the NGS oncology market.

Companies operating in the NGS oncology market are focusing on developing innovative solutions, such as liquid biopsy research assays, to enable non-invasive, real-time cancer detection and monitoring through the analysis of circulating tumor DNA. A liquid biopsy research assay is a diagnostic test that analyzes biological fluids such as blood to detect genetic mutations or molecular markers linked to cancer, allowing for non-invasive detection and monitoring. For example, in August 2024, Illumina Inc., a U.S.-based biotechnology company specializing in NGS technology, expanded its oncology portfolio for NovaSeq X Series users. The company introduced the newly validated high-throughput TruSight Oncology 500 (TSO 500 HT) and the updated TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2) liquid biopsy research assays. These advanced assays enable laboratories to expand their oncology research capabilities for both tissue and liquid biopsy samples, offering improved sequencing efficiency, reduced run times, and the ability to process larger sample volumes on the NovaSeq X Series for the first time.

In December 2024, Deerfield Management Company, a U.S.-based investment firm, acquired Singular Genomics for an undisclosed amount. This acquisition aims to strengthen Deerfield's portfolio by integrating Singular Genomics' next-generation sequencing and spatial multiomics technologies, advancing research and clinical applications. Singular Genomics is a U.S.-based biotechnology company specializing in NGS and multiomics technologies.

Major players in the NGS oncology market are Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Eurofins Scientific SE, Illumina Inc., Qiagen N.V., Tecan Trading AG, Myriad Genetics, Takara Bio Inc., Beijing Genomics Institute (BGI), Caris Life Sciences, Foundation Medicine, Paradigm Diagnostics, Pacific Bioscience, Horizon Discovery Group plc, Creative-Biolabs, Xcelris Labs Ltd., Partek Inc., 4baseCare, and SciGenom Labs Pvt. Ltd.

North America was the largest region in the NGS oncology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in NGS oncology report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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

Next-generation sequencing (NGS) oncology involves the use of advanced sequencing technologies to examine the genetic composition of cancer cells. It helps identify specific mutations, genetic alterations, and biomarkers that can guide personalized treatment plans, predict responses to therapies, and enhance overall cancer management. NGS oncology facilitates precision medicine, where treatments are tailored to the genetic profile of the tumor.

The primary sequencing technologies in NGS oncology include targeted sequencing, genomics, transcriptomics, and epigenomics. Targeted sequencing is a genomic method that focuses on sequencing specific genes or regions within the genome to detect genetic variations linked to diseases or traits. These technologies are available in platforms, kits, and services. The workflow includes stages such as pre-sequencing, sequencing, and data analysis. They are applied in various areas, including genetic screening, hereditary genetic testing, hematological malignancies, solid tumors, and more. Key end users include hospitals and clinics, clinical research organizations (CROs), academic and research institutions, pharmaceutical and biotechnology companies, and others.

The NGS oncology market research report is one of a series of new reports that provides NGS oncology market statistics, including the NGS oncology industry global market size, regional shares, competitors with the NGS oncology market share, detailed NGS oncology market segments, market trends, and opportunities, and any further data you may need to thrive in the NGS oncology industry. This NGS oncology 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 NGS oncology market consists of revenues earned by entities by providing services such as companion diagnostics, liquid biopsy analysis, genetic mutation analysis, bioinformatics, and data interpretation. The market value includes the value of related goods sold by the service provider or included within the service offering. The NGS oncology market also includes sales of target enrichment kits, library preparation kits, data analysis pipelines, bioinformatics software, and tools. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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 and 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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