Clinical Oncology Next Generation Sequencing Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope

Next generation sequencing (NGS) is a process used to determine the sequence of nucleotides in a section of DNA and is used in oncology research. NGS is used to identify rare cancer mutations and familial cancer mutation carriers and to provide molecular rationale for appropriate targeted therapy.

Sizing and Forecast

The clinical oncology next generation sequencing market size has grown rapidly in recent years. It will grow from <b>$0.45 billion in 2023 to $0.52 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. </b> The  growth in the historic period can be attributed to genomic research advances, cancer biomarker discovery, technological advancements, regulatory approvals.

The clinical oncology next generation sequencing market size is expected to see rapid growth in the next few years. It will grow to <b>$0.86 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. </b> The growth in the forecast period can be attributed to growing cancer incidence, precision medicine, immuno-oncology, liquid biopsies. Major trends in the forecast period include comprehensive genomic profiling (cgp), immuno-oncology, tumor evolution and heterogeneity, ai and machine learning.

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Segmentation & Regional Insights

The clinical oncology next generation sequencing market covered in this report is segmented –

1) By Technology: Ion Semiconductor Sequencing, Pyro-Sequencing, Synthesis Sequencing, Real Time Sequencing, Ligation Sequencing, Reversible Dye Termination Sequencing, Nano-Pore Sequencing

2) By Application: Screening, Companion Diagnostics, Other Diagnostics

3) By End User: Hospital Laboratories, Clinical Research Organizations, Diagnostic laboratories

<b>North America</b> was the largest region in the clinical oncology next-generation sequencing market in 2023. <b>Asia-Pacific</b> was the second largest region in the clinical oncology next-generation sequencing market. The regions covered in the clinical oncology next generation sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The rise in the number of cancer cases across the globe is likely to contribute to the growth of the clinical oncology next-generation sequencing market during the forecast period. According to the American Cancer Society, there were 1.9 million new cases and 0.6 million cancer deaths in 2021 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the growth of the clinical oncology next-generation sequencing market.

Key Industry Players

Major companies operating in the clinical oncology next generation sequencing market include <b>Thermo Fisher Scientific, Oxford Nanopore Technologies Ltd., QIAGEN N.V., Myriad Genetics Inc., Illumina Inc., F. Hoffmann-La Roche Ltd., PerkinElmer Inc., Agilent Technologies Inc., Pacific Biosciences of California Inc., Caris Life Sciences, Paradigm Diagnostics, GATC Biotech AG, Macrogen Inc., DNASTAR Inc., Exosome Diagnostics Inc., Biomatters Ltd., Partek Inc., Foundation Medicine Inc., Becton Dickinson and Company (BD), Takara Bio Inc., Creative Biolabs, Mogene LC, Knome Inc., Genomatix Software GmbH, CLC bio, GnuBIO Inc., Bio-Rad Laboratories Inc., BGI Genomics Co. Ltd., Guardant Health Inc., Invitae Corporation, Natera Inc., NeoGenomics Laboratories Inc., Sysmex Corporation, Veracyte Inc., Zymo Research Corporation, ArcherDX Inc., Cepheid, Karius Inc., OncoDNA S.A., Personal Genome Diagnostics Inc., PierianDx Inc.</b>

The clinical oncology next generation sequencing market report table of contents includes:

 

1. Executive Summary
2. Clinical Oncology Next Generation Sequencing Market Characteristics
3. Clinical Oncology Next Generation Sequencing Market Trends And Strategies
4. Clinical Oncology Next Generation Sequencing Market – Macro Economic Scenario
5. Global Clinical Oncology Next Generation Sequencing Market Size and Growth

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31. Global Clinical Oncology Next Generation Sequencing Market Competitive Benchmarking
32. Global Clinical Oncology Next Generation Sequencing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Clinical Oncology Next Generation Sequencing Market
34. Clinical Oncology Next Generation Sequencing Market Future Outlook and Potential Analysis
35. Appendix

Top Major Players:

• Thermo Fisher Scientific
• Oxford Nanopore Technologies Ltd
• QIAGEN N.V.
• Myriad Genetics Inc
• Illumina Inc.

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