The global clinical oncology next-generation sequencing market size stands at USD 635 million in 2024 and is anticipated to surpass a valuation of USD 3,131.5 million by 2034. The clinical oncology NGS market expansion is estimated at a CAGR of 17.3% from 2024 to 2034.
Precision medicine has gained popularity in oncology, as patients’ unique traits are taken into account while designing medical treatments. Since NGS makes it possible to identify genetic mutations and changes in malignancies, it is essential to precision oncology.
Through the genetic analysis of a patient’s tumor, medical professionals can tailor treatment plans to target the molecular pathways responsible for carcinogenesis specifically. By using this method, treatments can turn out more successful and have fewer side effects, which will eventually improve patient outcomes and quality of life.
The United States Food and Drug Administration (FDA) and other regulatory bodies have approved or cleared a number of NGS-based oncology tests. The reliability, efficacy, and safety of NGS assays for clinical application are guaranteed by these regulatory approvals.
NGS-based testing acquires credibility and acceptability among physicians, payers, and healthcare providers by gaining regulatory clearance or approval. Moreover, regulatory supervision guarantees that NGS assays satisfy exacting performance standards and quality standards, boosting trust in the precision and repeatability of test results.
Developments in automation and miniaturization are opening doors for the creation of decentralized sequencing systems and point-of-care NGS technologies. In clinical settings, including hospitals, clinics, and remote sites, these portable and user-friendly NGS systems enable quick on-site sequencing of patient samples.
Point-of-care NGS systems have the potential to improve turnaround times, accessibility, and cost-effectiveness, which can increase their appeal to consumers and encourage implementation in a variety of healthcare environments.
Key Takeaways from the Clinical Oncology Next-generation Sequencing Market Report:
- The global market size expanded at a 19% CAGR from 2019 to 2023.
- The kits and reagents segment holds 60.9% of the market share in 2024.
- The synthesis sequencing (SBS) technology segment captures 68.5% of the market share in 2024.
- The market size in France is anticipated to develop at a 21.6% CAGR through 2034.
- The market size in the United States is estimated to surge at a 19.4% CAGR through 2034.
- The market size in Germany is expected to increase at a 19.1% CAGR through 2034.
Competitive Landscape:
The clinical oncology next-generation sequencing (NGS) industry is driven by fierce rivalry and a dynamic competitive environment. Technological innovation, collaborations, and consolidations influence the landscape. Leading firms such as Illumina Inc., Thermo Fisher Scientific Inc., and Qiagen N.V. lead the industry, relying on their wide product portfolios, global reach, and strong brand awareness to preserve their position. These companies invest extensively in research and development to constantly improve their sequencing platforms, create novel tests, and extend their presence in critical geographic locations.
Recent Developments:
- In April 2024, the FDA authorized Alecensa, Genentech Inc.’s alectinib, for adjuvant treatment after tumor resection in patients with ALK-positive non-small cell lung cancer (NSCLC) diagnosed by an FDA-approved test.
- In February 2024, Twist Bioscience Corporation introduced the cfDNA Library Preparation Kit, enabling liquid biopsy research. It is intended to increase the amount of unique cfDNA molecules collected during library preparation.
Note from the Analysts:
“Success in the clinical oncology NGS industry requires adherence to legal requirements and a focus on environmentally sustainable solutions. Agility and creativity will become more important as competition heats up for businesses to succeed.” Says a Lead Analyst at Future Market Insights (FMI).
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Leading Clinical Oncology Next-generation Sequencing Brands:
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Qiagen N.V.
- F. Hoffmann-La Roche Ltd.
- Pacific Biosciences of California, Inc.
- Oxford Nanopore Technologies Ltd.
- Agilent Technologies, Inc.
- BGI Group
- PerkinElmer, Inc.
- Bio-Rad Laboratories, Inc.
Key Segments of Market Report:
By Component:
Based on component, the industry fragments into sequencing platforms, sequencing products, kits and reagents, and services.
By Technology:
Depending on technology, the sector is segmented into ion semiconductor sequencing, pyro-sequencing, synthesis sequencing (SBS), real time sequencing (SMRT), ligation sequencing, reversible dye termination sequencing, and Nano-pore sequencing.
By Application:
Clinical oncology next-generation sequencing finds application in whole tumor genome sequencing, whole tumor exome sequencing, targeted tumor genome profiling, tumor transcriptome sequencing, tumor-normal comparisons, and others.
By End User:
Top end user existing in this industry are hospitals, laboratories, clinical research organizations, diagnostic laboratories, and others.
By Region:
Analysis of the market has been conducted in the countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa (MEA).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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