The global Clinical Oncology Next Generation Sequencing market size was valued at US$ 700.2 million in 2020 and is anticipated to grow at a CAGR of 15.2% during forecast period 2021 to 2028.
growth avenues for the market. NGS serves as one of the highly advanced genomic techniques for the analysis of mutations that lead to cancer progression.
The growth of the market is supplemented by a decrease in the cost of genetic sequencing, advancements in the field of personalized medicine and oncology, rise in prevalence of cancer, globally, and an increase in the adoption of this technique over single-gene testing. Since this technique is more reliable than Sanger sequencing for diagnosis, the market is expected to witness substantial growth over the forecast period.
Breakthrough advancements in the development of genetic-based tests for oncology and other disorders during the past few years have significantly propelled market growth. Next generation sequencing technology offers a better understanding of tumor mechanism, thus enabling rational drug design. As a result, more products are expected to get commercialized in the near future.
Targeted sequencing in clinical oncology accounted for the largest revenue share in 2020 and is expected to maintain its share over the forecast period. Targeted sequencing and resequencing encompasses shortest read lengths and is one of the conventional forms of commercially available sequencing technology. Moreover, focused panels for targeted cancer sequencing aid in the reduction of cost burdens owing to a reduction in the amount of data to be analyzed. As targeted cancer sequencing evaluates a limited gene-set, it can be used to analyze variations in rare tumor sub-clones with greater sensitivity and deep coverage.
The whole-genome sequencing segment is expected to grow at the fastest rate through 2025. Application of whole-genome sequencing technology for comparisons between tumor tissue and normal tissue in clinical oncology is attributive to segment growth. Developed rapid, large-capacity sequencers such as HiSeq and MiSeq series find application in largescale whole genome sequencing.
NGS workflow includes library preparation, sample enrichment, sample quality assurance, DNA tagging, sequencing, DNA quantification, genetic data assemble, data storage and analysis, and interpretation. Sequencing accounted for the largest share in the clinical oncology NGS market as it is the most important and crucial step in the entire process and involves the usage of sophisticated platforms. Continuous R&D has led to the introduction of novel, benchtop, or portable NGS sequencing platforms, thereby complimenting market growth. Moreover, NGS platforms are expected to witness lucrative growth throughout the forecast period owing to the expected increase in adoption and usage rates of whole-genome sequencing.
Next generation sequencing finds application in the field of clinical oncology for screening, companion diagnostics, and others. The adoption of NGS-based molecular diagnosis for oncology has increased as this technology allows concurrent sequencing of several target genes and provides rich diagnostic markers for the development of molecular diagnostic assays.
Application of NGS technology in the field of oncology ensures early diagnosis so that treatment measures can be taken in time. Therefore, the arrival of NGS for cancer diagnosis has opened many new frontiers in the field. For instance, large-scale projects such as International Cancer Genome Consortium (ICGC) and The Cancer Genome Atlas (TCGA) have issued data from thousands of tumors across major cancer types. This data can be used to have a comprehensive overview of cancerous cells and help enhance prognostic and therapeutic applications.
The market for companion diagnostics is expected to grow significantly in the coming years owing to numerous benefits offered by the technique in the field of oncology. Currently, available companion diagnostic products are applicable for non-small cell lung cancer, melanoma, colorectal, ovarian, and breast cancers.
By way of end-use, the clinical oncology next generation sequencing market has been segmented into hospitals, clinics, and laboratories. Laboratories held a prominent share in the market for clinical oncology NGS and this trend is likely to continue over the forecast period. The hospitals segment is expected to register a significant CAGR through 2025. Rise in adoption of in hospitals to determine the rate of disease progression and scale-up the appropriate treatment regimen for cancer is anticipated to influence growth in this segment.
Provision of clinical services by leading players in the market such as Illumina, which includes CLIA certified tests for predisposition screening, is anticipated to boost revenue in the coming years. Clinics utilize NGS technology to identify novel cancer mutations, for genetic testing for hereditary cancer syndrome, for personalized oncology treatment, and for detection of circulating DNA for cancer.
North America occupied the largest share in the global market in 2020 owing to increased focus of government bodies on cancer treatment, rise in healthcare expenditure, and presence of adequate healthcare infrastructure. Moreover, high prevalence of cancer, growing demand for personalized medicine, well-developed healthcare facilities, and availability of novel diagnostics techniques, especially in the field of oncology, can be attributed to the estimated market share of the region. Additionally, growing morbidity and mortality due to cancer has increased the need for development of novel therapies, thereby driving this regional market.
Agilent; Thermo Fisher Scientific; Myriad Genetics; Beijing Genomics Institute (BGI); Perkin Elmer, Inc.; Qiagen NV; Partek, Inc.; Pacific Bioscience, Inc.; Foundation Medicine; Oxford Nanopore Technologies Ltd.; Paradigm Diagnostics, Inc.; Caris Life Sciences; Eurofins Scientific
Whole Genome Sequencing
Whole Exome Sequencing
Targeted Sequencing & Resequencing
NGS Data Analysis
Middle East and Africa (MEA)
The Clinical Oncology Next Generation Sequencing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Clinical Oncology Next Generation Sequencing market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Clinical Oncology Next Generation Sequencing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Clinical Oncology Next Generation Sequencing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Clinical Oncology Next Generation Sequencing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Clinical Oncology Next Generation Sequencing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Clinical Oncology Next Generation Sequencing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Clinical Oncology Next Generation Sequencing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Clinical Oncology Next Generation Sequencing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Clinical Oncology Next Generation Sequencing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Clinical Oncology Next Generation Sequencing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Clinical Oncology Next Generation Sequencing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Clinical Oncology Next Generation Sequencing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Clinical Oncology Next Generation Sequencing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Clinical Oncology Next Generation Sequencing market. These factors have benefited the growth of the global market for Clinical Oncology Next Generation Sequencing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Clinical Oncology Next Generation Sequencing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Clinical Oncology Next Generation Sequencing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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