USD 592.56 million
Clinical Oncology Next Generation Sequencing Market Size, Share, Growth Analysis, By Technology(Whole Genome Sequencing, Whole Exome Sequencing, Targeted Sequencing, & Resequencing Centrifuges), By Workflow(Pre-Sequencing, Sequencing, and Data AnalysisSegmentApplicationSub-segmentScreening (Sporadic Cancer, Inherited Cancer) Companion Diagnostic), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2071 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
68
|Figures:
75
Clinical Oncology Next Generation Sequencing Market Insights
Clinical Oncology Next Generation Sequencing Market size was valued at USD 592.56 million in 2019 and is poised to grow from USD 682.04 million in 2023 to USD 2100.92 million by 2031, growing at a CAGR of 15.15% in the forecast period (2024-2031).
Next generation sequencing, is a type of huge parallel sequencing technique that provides ultra-high throughput, high speed, and scalability for determining the order of nucleotides throughout an entire genome. NGS has been adopted in clinical oncology to advance personalized treatment of cancer.NGS is used to find novel and uncommon cancer mutations, find family members who carry cancer mutations, and give the genetic basis for the most suitable targeted therapy. One of the most crucial steps in the entire sequencing methodology is DNA pre-sequencing, which entails preparing the material for the subsequent sequencing reaction.
For each resistant and responsive genotype-drug combination, our platform analyses the raw NGS data that doctors utilize to classify and interpret genomic changes combined with experimental and licenced medicines. As a result, systems for NGS data processing are increasingly being used for individualised oncology care.
US Clinical Oncology Next Generation Sequencing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Targeted Sequencing and Resequencing
Fastest Growth
Targeted Sequencing and Resequencing
Growth Rate
15.15% CAGR
Global Clinical Oncology Next Generation Sequencing Market ($ Mn)
Country Share for North America Region (%)
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Clinical Oncology Next Generation Sequencing Market Segmental Analysis
Global Clinical Oncology Next Generation Sequencing Market has been segmented based on Technology, Workflow, Application, End use, and region. Based on Technology, the market is further sub-segmented into Whole Exome Sequencing, Whole Genome Sequencing, Targeted Sequencing, & Resequencing Centrifuges. On the basis of Workflow, the market is further sub-segmented into Pre-Sequencing, Sequencing, and Data Analysis. According to Application the market is further sub-segmented into Screening (Sporadic Cancer, Inherited Cancer) Companion Diagnostic, and Other Diagnostics. According to End-use the clinical oncology next generation sequencing market is sub-segmented into Hospitals, Clinics, and Laboratories. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Clinical Oncology Next Generation Sequencing Market Analysis by Technology
With a sizable revenue share, the targeted sequencing and resequencing segment dominated the market. Targeted sequencing and resequencing dominated the market in 2021 with a revenue share of more than 70%. Targeted cancer sequencing panels minimise the cost, time, and volume of data analysed during the sequencing of tumour samples. The ability of tailored panels to recognise malignant tumours further enhances their therapeutic potential. Whole-genome sequencing (WGS) is anticipated to see the quickest growth in the technology sector between 2021 and 2028 due to its capacity to discriminate and contrast normal tissues from malignant ones. Whole genome sequencing of cancer patients also assists in the early discovery of mutations and the creation of treatments for those that are already present.
Clinical Oncology Next Generation Sequencing Market Analysis by Workflow
The workflow segment that generated the most revenue over the anticipated time was sequencing, which contributed significantly to total revenue. An essential component in the pipeline is sequencing, which calls for the utilisation of cutting-edge platforms. Sequencing was the process category that brought in the most money in 2021—more than 57 percent of it. Sequencing, a critical step in the process, necessitates the use of cutting-edge platforms. An increase in cancer sequencing projects further hastens the segment expansion.
Clinical Oncology Next Generation Sequencing Market Analysis by Application
Screening accounted for the largest revenue share as NGS is highly employed in cancer screening programs across the globe. NGS is widely used in cancer screening programs around the world, screening accounted for the biggest revenue share of almost 80%. The most effective strategy for finding genetic changes that can be targeted for clinical benefit in cancer patients is currently thought to be NGS-based testing. Clinicians can evaluate several gene changes simultaneously thanks to this technology. Comparatively speaking to other pathology techniques, the approach requires fewer tumour tissues. During the forecast period, the companion diagnostics segment is anticipated to post the quickest Growth. The usage of NGS for companion diagnostics is anticipated to increase as a result of ongoing product advancements and partnerships and cooperation among the major players.
Clinical Oncology Next Generation Sequencing Market Analysis by End-use
With a sizable sales share, the laboratories segment was the market leader. Complex workflow setup is a time-consuming process for laboratories. As a result, the majority of cutting-edge laboratories have created pre-existing workflows that are founded on common practices. With a sales share of around 70% in 2021, the laboratories sector held the market's top spot. Complex workflow setup is a time-consuming process for laboratories.
As a result, the majority of cutting-edge laboratories have created pre-existing workflows that are founded on common practices. With the creation and distribution of NGS assays for clinical use, detailed guidelines for operations using NGS testing have been created. In order to confirm the reliability of the findings, the majority of FDA-approved tests have specified controls, standards, and performance parameters. In the US, a number of regulatory agencies oversee clinical laboratories.
Global Clinical Oncology Next Generation Sequencing Market By Technology
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Clinical Oncology Next Generation Sequencing Market Regional Insights
With a share of more than 49%, North America dominated the global clinical oncology NGS market. This surge is attributable to significant regulatory body efforts to raise cancer screening diagnosis rates in the United States. For instance, the U.S. National Cancer Institute's (NCI) The Cancer Genome Atlas study has sequenced more than 20,000 primary cancer samples from 33 distinct cancer types using next-generation technology. This surge can be attributed to the significant efforts conducted by regulatory agencies in the United States to raise the number of cancer screening diagnoses. For instance, the Cancer Genome Atlas programme, which was established by the National Cancer Institute (NCI) of the United States, has completed next-generation sequencing on more than 20,000 original cancer samples from 33 distinct forms of cancer. The increased acceptance of sequencing platforms for clinical diagnosis as a result of the significantly decreased cost of installation is what propels the U.S. clinical oncology next-generation sequencing market. Furthermore, this market is positioned to provide potentially lucrative growth prospects in the upcoming years due to the simple availability of genomic and proteomic data. The convenience with which genomic and proteomic data may be obtained has positioned this sector to be in a position to offer potentially high-value prospects for expansion in the years to come.
This market in Asia Pacific is projected to expand at a rapid compound annual growth rate (CAGR) during the forecast period. This is due to the growth of the clinical oncology next generation sequencing market in emerging countries, as well as the continuous development of the pharmaceutical industry and the healthcare industry in the region. Australia and New Zealand are among the nations having the highest cancer mortality rates. Due to the drastic decrease in sequencing costs compared to prior years, China has experienced substantial growth in recent years. When compared to other nations, the leading players in the nation offer NGS products and services at a very competitive pricing. Favourable government policies along with high investment by key market players are driving the growth of the market.
Global Clinical Oncology Next Generation Sequencing Market By Region
- Largest
- Fastest
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Clinical Oncology Next Generation Sequencing Market Dynamics
Clinical Oncology Next Generation Sequencing Market Drivers
Development in Research Programs to Bolster Demand during Forecast Period
- Technological Advancements and Research Expenditures Are Both on The Rise as the need for technology that can do next-generation sequencing is rising in tandem with the popularity of personalized medicine and diagnostic companion tests. It is anticipated that expanding the usefulness of NGS for liquid biopsy would also assist in the generation of income for the sector. This technique is utilized for the sequencing of circulating tumor DNA during the investigation of liquid biopsy sample material. Accurate cancer profiling paves the way for surveillance of cancer in real time that does not involve any kind of invasion. An increase in financing for oncology research is another factor that is driving growth in the global market for clinical oncology next generation sequencing.
- An Increase in Cancer Cases Over the World, it is anticipated that the rise in the number of cancer cases around the globe will be a primary factor in the expansion of the clinical oncology market for next-generation sequencing over the time of forecasting. Lung, prostate, bowel, and breast cancer in women make up 43 percent of all newly diagnosed instances of cancer worldwide. These four forms of cancer account for the majority of new diagnoses. As a result, it is projected that the rise in the cancer incidence rate across the globe will stimulate an increase in the demand for the clinical oncology market for next-generation sequencing. In addition, Asia is home to the vast majority of cancer cases, while Europe accounts for approximately one quarter of all cases. As a result, the growing burden of cancer and the importance of detecting it early in order to effectively treat it are driving the expansion of the market.
Clinical Oncology Next Generation Sequencing Market Restraints
High Cost to Hinder Market Growth
- The Clinical Oncology Next Generation Sequencing Process Is Associated with High Expenses as the patients all across the world are up against a significant challenge in the form of the prohibitively high prices connected with clinical oncology next generation sequencing. There is a lot of pressure to keep prices down and show that the money was worth it. The viability of public health care funding is being called into question in a number of countries as a result of the continued presence of political unpredictability and economic strain. The absence of cancer treatments that are both effective and affordable has had a negative impact on the overall health of the population in nations with low per capita incomes, which in turn has contributed to a decrease in the average lifespan. Consumables, which are the most expensive components in the sequencing process, contribute to the high cost of genome sequencing. Additionally, the cost of equipment used to treat rare cancer diseases is higher than that used to treat normal cancer diseases, which hinders the expansion of the market.
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Clinical Oncology Next Generation Sequencing Market Competitive Landscape
The competitive landscape for the clinical oncology next-generation sequencing market gives information by competitor. Several small- and mid-sized businesses that have made significant efforts to increase their market presence may be found in the market. Also, the business and Myriad Genetics, Inc. struck a contract for the development and marketing of my Choice tumour testing in China.
Clinical Oncology Next Generation Sequencing Market Top Player’s Company Profiles
- Illumina, Inc.
- Thermo Fisher Scientific, Inc.
- F. Hoffmann-La Roche AG
- Qiagen N.V.
- Agilent Technologies, Inc.
- BGI Genomics Co., Ltd.
- PerkinElmer, Inc.
- Oxford Nanopore Technologies, Inc.
- Pacific Biosciences of California, Inc.
- Eurofins Scientific SE
- Foundation Medicine, Inc. (Roche)
- Myriad Genetics, Inc.
- Guardant Health, Inc.
- Natera, Inc.
- Genomic Health, Inc. (Exact Sciences)
- Invitae Corporation
- Illumina, Inc. (Grail)
- ArcherDX, Inc. (Invitae)
- Menarini Silicon Biosystems
- Biocartis Group NV
Clinical Oncology Next Generation Sequencing Market Recent Developments
- In January 2022, A multi-year partnership between Agendia, Inc. and Illumina was established in order to jointly develop in vitro diagnostic (IVD) assays for oncology testing. Agendia, Inc. is a world leader in breast cancer precision medicine.
- In January 2022, A multi-year cooperation to co-develop diagnostic (IVD) tests for oncology testing was announced by Agendia, Inc., a global pioneer in precision oncology for breast cancer.
- In January 2022, In order to hasten the creation of precision medicines and therapy selection for patients with advanced cancer, Illumina Inc. teamed up with Boehringer Ingelheim.
- In May 2022, cutting-edge liquid biopsy technology called the HIFI System was introduced by Berry Oncology. This technique may also aid in the early detection of cancer and prompt treatment of patients.
Clinical Oncology Next Generation Sequencing Key Market Trends
- It is anticipated that increasing the use of NGS for liquid biopsy would help the industry generate revenue. Using this method, circulating tumour DNA can be sequenced for liquid biopsy sample analysis. As a result, tumours can be effectively profiled, allowing for non-invasive, real-time cancer surveillance. The most cutting-edge technology, NGS, has quickly developed to the point where many genomes can be sequenced at once in a single device. The use of NGS technology, particularly in the field of cancer given the genetics of the disease, is anticipated to have a beneficial effect on market growth. Also, the NGS has advanced to the point that numerous laboratories are considering using it for routine diagnostic purposes. Some of the reasons why NGS technology is being used more frequently for research are its speed, sensitivity, and lower cost per sample.
Clinical Oncology Next Generation Sequencing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Clinical Oncology Next Generation Sequencing market analysis, the alarmingly rapid rise in the number of cancer cases is a global issue. The sickness not only kills people, but it also has a negative impact on a country's economy. Government and other healthcare institutions are taking action to reduce the worldwide burden of cancer as a result. Research institutes are receiving large sums of money to find new treatments and drugs. The human genome is being studied in new and innovative ways. Over US$1.2 million was awarded in December 2021 to fund 20 breast cancer research projects in Alabama, for example. The Cancer Genome Atlas (TCGA) project was initiated by the National Cancer Institute (NCI) and the National Human Genome Research Institute (NHGRI).
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 592.56 million |
| Market size value in 2031 | USD 2100.92 million |
| Growth Rate | 15.15% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Clinical Oncology Next Generation Sequencing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Clinical Oncology Next Generation Sequencing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Clinical Oncology Next Generation Sequencing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Clinical Oncology Next Generation Sequencing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Clinical Oncology Next Generation Sequencing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Clinical Oncology Next Generation Sequencing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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