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

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.