In the realm of cancer care, next-generation sequencing (NGS) is revolutionizing treatment paradigms, propelling the Clinical oncology NGS market toward unprecedented growth, With projections soaring from US$449.4 million in 2022 to a staggering US$1.14 billion by 2029, this sector stands as a beacon of hope for personalized cancer therapy.
The escalating application of NGS in clinical oncology underscores a seismic shift towards more effective and individualized treatment strategies. Empowered by genomic insights, clinicians can navigate the complexities of cancer with precision, tailoring interventions to the unique genetic makeup of each patient.
As the demand for tailored cancer therapies intensifies, the market is poised for remarkable expansion, projected to surge at an astounding compound annual growth rate (CAGR) of 16.3% from 2022 to 2029. This trajectory underscores the transformative potential of NGS in reshaping the oncology landscape, offering renewed hope and possibilities for patients and clinicians alike.
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North America is expected to be a prominent region in the global clinical oncology next-generation sequencing market owing to the presence of well-developed healthcare infrastructure and numerous technological advancements in the region. North America and Europe are expected to witness a significant growth rate in the clinical oncology next-generation sequencing market.
Synthesis Sequencing Technology to Hold a Major Market Value Share
Based on the technology, the clinical oncology next-generation sequencing market has been segmented into pyro sequencing, sequencing by synthesis (SBS), and Single-Molecule Real-Time Sequencing (SMRT), nanopore sequencing, ligation sequencing, and reversible dye termination sequencing. Synthesis sequencing is however expected to hold a significant share in the clinical oncology next-generation sequencing market.
Ion semiconductor sequencing is a method of DNA sequencing in which hydrogen ions are detected based on the polymerisation of DNA. Pyro-sequencing includes identifying the order of nucleotides in DNA based on the “sequencing by synthesis” principle, in which the sequencing is performed with the help of DNA polymerase. SBS is a technique used to determine the series of base pairs in DNA, which also known as DNA is sequencing.
There are various applications associated with clinical oncology next-generation treatment market. They include whole tumor genome sequencing, whole tumour exome sequencing, targeted tumour genome profiling, tumour transcriptome sequencing, tumour-normal comparisons, and other applications. Targeted tumor genome profiling is expected to hold a large share of the clinical oncology next-generation treatment market.
On the basis of end user, the clinical oncology next-generation sequencing market has been segmented into hospital laboratories, clinical research organisations, diagnostic laboratories, and others. Clinical research laboratories are expected to hold a large revenue share in the clinical oncology next-generation sequencing market.
Apart from the factors driving the clinical oncology next-generation sequencing market, there are few factors that are likely to hinder the overall growth of the clinical oncology next-generation sequencing market, such as high costs associated with the establishment of sequencing platforms, low quality of outsourcing services, and inadequate availability of sequencing platforms in some regional markets.
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On the other hand, increasing biomedical research using clinical oncology, increasing government funding for life science projects, substantial decline in the prices of sequencing, and technological advancements in the field of sequencing are some of the major factors driving the growth of the clinical oncology next-generation sequencing market.
Tier 1 Companies Hold Nearly 3/5th Share of Global Market Value
The report tracks some of the key companies operating in the clinical oncology next-generation sequencing market such as QIAGEN N.V., Thermo Fisher Scientific., Pacific Biosciences of California, Inc., F. Hoffmann-La Roche Ltd Oxford Nanopore Technologies, Ltd., Takara Bio, Inc., Illumina Inc., PerkinElmer Inc.and Agilent Technologies, Inc. Thermo Fischer Scientific, Oxford Nanopore Technologies Ltd., and Illumina are expected to hold a signficant share of the clinical oncology next-generation sequencing market. These first tier companies hold a share of approximately 60% in the clinical oncology next-generation sequencing market.
Key Segments:
The global clinical oncology next generation sequencing market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach in front of the reader.
By Product
- Sequencing Platforms
• Sequencing Products
• Kits and Reagents
• Services
By Technology
- Ion Semiconductor Sequencing
• Pyro-Sequencing
• Synthesis Sequencing (SBS)
• Real Time Sequencing (SMRT)
• Ligation Sequencing
• Reversible Dye Termination Sequencing
• Nano-Pore Sequencing
By Application
- Whole Tumor Genome Sequencing
- Whole Tumor Exome Sequencing
- Targeted Tumor Genome Profiling
- Tumor Transcriptome Sequencing
- Tumor-normal Comparisons
- Others
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.
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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