Westford, USA, June 13, 2023 (GLOBE NEWSWIRE) -- The global Clinical Oncology Next Generation Sequencing market size is expected to reach USD 892.61 million by 2030 and exhibit a CAGR of 14.7% in the forecast period (2023−2030), according to Skyquest's latest research report. The Increasing incidence of cancer, growing need for personalised medicine, advancement in next-generation sequencing, raising awareness and adoption of precision medicine, favourable reimbursement policies and collaboration and partnerships are fueling the Market's growth.
Liquid Biopsy-based Test and technological advancements to Promote the Use of Clinical Oncology Next-Generation Sequencing
At a global scale, the increasing adoption of liquid biopsy-based NGS tests, the emergence of multi-gene panel testing, integration of artificial and machine learning, growing demand for cloud-based NGS solutions, increasing focus on clinical trials and research expansion of NGS applications are trends promoting the growth of the market.
Liquid biopsy-based NGS tests have gained popularity as they provide a non-invasive way to detect cancer and monitor treatment response.
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Multi-gene panel Testing Type Demand to Grow Substantially in the Forecast Period
Multi-gene panel Testing type dominated the global market owing to its ability to provide comprehensive genomic information and guide personalized treatment plans.
According to SkyQuest, increasing adoption of NGS-based diagnostic tests, a growing prevalence of cancer, and rising demand for personalized medicine.
Cancer Diagnosis and Treatment is the Leading Application Segment
In terms of application, the passenger car segment is the leading segment due to the increasing prevalence of cancer and the need for personalized and targeted treatments.
Clinical oncology NGS enables the detection of various genetic alterations and mutations that contribute to cancer development and progression. By analyzing these mutations, oncologists can develop personalized treatment plans that target the specific genetic drivers of each patient's cancer. This results in more effective treatments and better outcomes for patients.
Asia-Pacific and North America are the leading Markets Due to the Presence of a Well-established Healthcare Infrastructure
Region-wise, North America is one of the largest growing markets due to the presence of a well-established healthcare infrastructure, increasing cancer prevalence, and a high level of adoption of advanced technologies.
Asia Pacific is the fastest growing market due to the rising geriatric population, increasing cancer cases, and improving healthcare infrastructure in emerging economies. Moreover, the growth of clinical oncology NGS market in the Asia Pacific region is further supported by favorable government initiatives, such as the National Cancer Control Programs in China and India, which aim to improve cancer diagnosis and treatment in these countries.
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Clinical Oncology Next Generation Sequencing Market Report Suggests:
- Illumina, Inc. has entered into a multi-year partnership with Agendia N.V., a prominent name in precision oncology for breast cancer, for the collaborative development of in vitro diagnostic (IVD) tests for oncology testing. This partnership aims to advance the use of next-generation sequencing (NGS) for decentralized oncology testing. Illumina's partnership approach in oncology IVDs is closely aligned with the partnership's objectives. As a result, Agendia is now included in Illumina's expanding portfolio of more than 30 IVD partners engaged in developing over 40 sequencing-based solutions for cancer prognosis, therapy selection, and other applications.
- In terms of application, the Cancer diagnosis and treatment segment dominates due to the increasing prevalence of the disease
- In terms of type, the Multi-gene Panel testing type segment is projected to gain more popularity due to its ability to guide personalized treatment
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due presence of major market players
Clinical Oncology Next Generation Sequencing Market Segmentation:
The global Clinical Oncology, Next Generation Sequencing market report, is segmented based on technology workflow, application, and region.
By Technology
- Ion Semiconductor Sequencing
- Pyrosequencing
- Sequencing by Synthesis
- Single-Molecule Real-time (SMRT) Sequencing
- Nanopore Sequencing
- Other Sequencing Technologies
By workflow
Pre-Sequencing
- Library Preparation
- Target Enrichment
- Quality Control
Sequencing
- Data Analysis
- Sequencing Instrumentation
Post-Sequencing
By Application
Oncology
- Gene Expression Profiling
- Biomarker Discovery
- Personalized Medicine
- Diagnostics
- Clinical Investigation
- Infectious Disease Research
- Reproductive Health
- HLA Typing/Immune System Monitoring
- Epidemiologist
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
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Clinical Oncology Next Generation Sequencing Market Major Company Profiles:
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- Qiagen N.V.
- F. Hoffmann-La Roche Ltd.
- BGI Genomics Co., Ltd.
- PerkinElmer, Inc.
- Agilent Technologies, Inc.
- Foundation Medicine, Inc.
- Personal Genome Diagnostics Inc.
- Myriad Genetics, Inc.
- Invitae Corporation
- Guardant Health, Inc.
- NeoGenomics Laboratories, Inc.
- ArcherDX, Inc.
- Genomic Health, Inc.
- Natera, Inc.
- GenScript Biotech Corporation
- Novogene Corporation Ltd.
- WuXi NextCODE Genomics
- Eurofins Scientific SE
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