The global clinical oncology next-generation sequencing market is on the brink of unprecedented growth, with market size projected to leap from USD 635 million in 2024 to an extraordinary USD 3,131.5 million by 2034. This impressive surge at a compound annual growth rate (CAGR) of 17.3% highlights the transformative impact of NGS technology on cancer diagnosis and treatment.
Driving Forces Behind Market Growth:
The market’s rapid expansion is largely driven by the increasing adoption of precision medicine in oncology. Precision medicine tailors treatment plans to an individual’s genetic profile, offering more personalized and effective therapeutic options. NGS plays a critical role in identifying genetic mutations in cancer cells, enabling healthcare professionals to develop targeted therapies that address specific molecular pathways. This leads to better patient outcomes, fewer side effects, and overall improved quality of care.
Regulatory Approvals Boost Confidence in NGS:
Further accelerating market growth is the increasing regulatory approval of NGS-based oncology tests by key global regulatory bodies, including the U.S. Food and Drug Administration (FDA). These approvals highlight the safety, efficacy, and reliability of NGS assays in clinical settings. As a result, more healthcare providers are integrating NGS into their standard cancer diagnostic and treatment protocols, enhancing confidence in the technology’s widespread use.
Technological Advancements Revolutionizing NGS:
Technological innovations in automation and miniaturization are revolutionizing the NGS market. The development of decentralized sequencing systems and point-of-care NGS solutions is driving greater accessibility to precision oncology. Portable devices now enable rapid, on-site sequencing, empowering healthcare providers in hospitals, clinics, and even remote locations to make faster diagnostic and treatment decisions. These advancements promise to reduce costs, improve turnaround times, and expand access to high-quality cancer care.
A Bright Future for Cancer Treatment:
The growing demand for precision medicine, coupled with ongoing technological advancements, positions the global clinical oncology next-generation sequencing market for transformative growth. NGS is expected to play a pivotal role in revolutionizing cancer diagnosis and treatment, making precision oncology more accessible and effective across diverse healthcare environments worldwide.
As the industry continues to evolve, the future looks bright for cancer patients, offering new hope through cutting-edge NGS technology and personalized treatment solutions.
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.
Explore the Growing Demand for Clinical Oncology Next-generation Sequencing: Get All the Insights in Our Comprehensive Report!
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.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
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.
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).
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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