PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1364700
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1364700
Clinical Oncology Next Generation Sequencing Market size was valued at USD 388.4 Million in 2022, expanding at a CAGR of 16.5% from 2023 to 2030.
Next-generation sequencing (NGS), also known as massively parallel sequencing, is a powerful method for capturing a vast quantity of genomic information about a tumor. The majority of NGS technologies rely on synthesis-based sequencing. NGS has recently been used in clinical oncology to advance individualized cancer treatment. NGS is utilized to find familial cancer mutation carriers, identify novel and rare cancer mutations, and offer molecular rationale for effective targeted therapy. With targeted therapies becoming the new standard of care in oncology, NGS-driven companion diagnostics are generally expected to influence therapy selection to enhance patient outcomes.
The rising prevalence of cancer is expected to drive the growth of the Clinical Oncology Next Generation Sequencing market.
As the prevalence of cancer rises, there is more need to better understand the disease and discover novel medicines. Next-generation sequencing (NGS) assays are quickly becoming the preferred option in the treatment of advanced cancer patients. NGS assays use high-throughput DNA sequencing technology to sequence the complete genome, the full exome, or certain gene exons (targeted panels). In the United States in 2020, 1,603,844 new cancer cases were reported and 602,347 people died of cancer. For every 100,000 people, 403 new cancer cases were reported and 144 people died of cancer. 2020 is the latest year for which incidence data are available, according to Centers for Disease Control and Prevention. Furthermore, Next Generation Sequencing opens the entrance to new oncological research discoveries, which may uncover new cancer progression pathways and processes. It provides growth opportunities for the market. However, the high cost of initial investment required for NGS technology and infrastructure can restrict market growth,
The Global Clinical Oncology Next Generation Sequencing Market is segmented on the basis of Workflow Type, Application, Technology, End-User, and Region.
The market is divided into three categories based on Workflow: NGS Pre-Sequencing, NGS Sequencing, and NGS Data Analysis. The NGS Sequencing segment dominates the market. NGS refers to a class of current sequencing technologies that enable significantly faster and less expensive DNA and RNA sequencing than older approaches. These technologies have the ability to sequence millions to billions of DNA molecules at the same time.
The market is divided into three categories based on Technology: Whole Genome Sequencing, Whole Exome Sequencing, and Targeted Sequencing and resequencing. Targeted Sequencing and resequencing segment dominates the market growth. Rather than sequencing the entire genome, targeted sequencing focuses on certain genes or regions of interest that have been linked to disease or are suspected to be linked to disease. The sequencing of previously sequenced DNA is referred to as resequencing. The purpose is to find variants, particularly in areas of interest.
The market is divided into two categories based on application: Screening, Companion Diagnostics, and other diagnostics. The Screening sector dominates the market and is likely to maintain its dominance during the forecast period. Next-generation sequencing (NGS) of tumor and germline DNA is foundational for precision oncology, with rapidly expanding diagnostic, prognostic, and therapeutic implications. The use of NGS in oncology diagnostic and screening techniques has resulted in significant market expansion. The need for NGS panels, equipment, and related services has increased dramatically.
The market is divided into three categories based on End-User: Hospitals, Clinics, and Laboratories. Laboratories dominate the market. Many diagnostic laboratories have implemented NGS platforms to provide tumor genomic profiling, assisting doctors in identifying actionable mutations and tailoring medicines accordingly.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the Clinical Oncology next-generation Sequencing market, due to increasing R&D investment, and the Rising Burden of Cancer. The increased incidence of cancer in North America needs novel diagnostic and treatment options. The United States invests much in medical and biotechnology research.
Both the public and commercial sectors invest billions of dollars in R&D each year, fueling improvements and the acceptance of new technology. New data from the National Center for Science and Engineering Statistics (NCSES) within the National Science Foundation indicate that research and experimental development (R&D) performed in the United States totaled USD 717.0 billion in 2020. Europe is expected to be the second-largest market for Clinical Oncology Generation Sequencing, due to increasing penetration of new medical technologies.
The market for next-generation sequencing (NGS) technologies has expanded substantially. Decision-makers in health care require factual knowledge of market growth and future trends in order to design suitable strategies and regulations, yet little is known about the nature and magnitude of these patterns. Companies frequently collaborate or merge to boost their position. Major firms are expanding their presence into emerging countries in Asia, Latin America, and Africa, where there is a growing demand for modern medical technologies. Also, a number of startups bring fresh technology or approaches to the table, which may offer faster sequencing, higher accuracy, or lower prices. For example, On April 12, 2022, Thermo Fisher Scientific recently launched the CE-IVD marked Ion Torrent Genexus Dx Integrated Sequencer, an automated, next-generation sequencing (NGS) platform that delivers results in one day.
In December 2021, Roche nowadays announced the launch of the AVENIO Edge System, a core component of Roche's strategy to advance sequencing technologies. Built on best-in-class foundational capabilities to deliver a fully automated, integrated sequencing solution. Roche is committed to developing diagnostic solutions with the goal of providing the healthcare community with faster and more accurate medical information to predict risk and detect disease.
The scope of this report covers the market by its major segments, which include as follows: