Clinical Oncology Next Generation Sequencing Market survey report is the high quality report having in-depth market research studies. It presents a definite solution to obtain market insights with which businesses can think about market place clearly and thereby take important decisions for growth of the business. All the data, facts, figures and information included in this business document is backed up by well renowned analysis tools which include SWOT analysis and Porter’s Five Forces analysis. A number of steps are used while preparing a wide-reaching Clinical Oncology Next Generation Sequencing Market report by taking the inputs from a dedicated team of researchers, analysts, and forecasters.
Data Bridge Market Research analyses that the clinical oncology next generation sequencing market which was USD 592.56 million in 2021, would rocket up to USD 1825.30 million by 2029, and is expected to undergo a CAGR of 15.1% during the forecast period 2022 to 2029.
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- In January 2022, Agendia, Inc., a global pioneer in breast cancer precision medicine, announced a multi-year collaboration with Illumina to co-develop in vitro diagnostic (IVD) assays for oncology testing.
- In October 2021, Roche introduced the AVENIO tumour tissue CGP kit to make tailored cancer research more accessible.
- Increase in cancer cases
The clinical oncology next-generation sequencing market is projected to be significantly impacted by personalized medicine and oncology improvements. Rising cancer prevalence, high acceptance of sequencing-based diagnostics platforms among practicing oncologists, decrease in the cost of genetic sequencing, and increased government R&D funding are some of the reasons expected to boost market growth. On the other hand, high adoption of this technique over single-gene testing and higher adoption of clinical oncology next-generation sequencing technology and platforms in academia projects will fuel a slew of new opportunities, propelling the clinical oncology next generation sequencing market forward from 2022 to 2029.
- New technological Innovatives
According to the World Health Organization’s (WHO) International Agency for Research on Cancer (IARC), cancer was the top cause of death worldwide in 2020, with over 10 million fatalities. In addition, 19.3 million additional cases were reported globally. New creative technologies, such as next generation sequencing, are being used to address this worldwide burden and lower mortality rates. As a result, the clinical oncology next generation market is growing at a faster rate.
- Reduction in the cost of NGS platforms
The factor aiding the market’s growth is the reduction in the cost of NGS platforms. Clinical oncology next-generation sequencing approaches provide a high percentage of reads as well as low cost per read. Leading players are introducing low-cost sequencing approaches. Similarly, the worldwide clinical oncology next generation sequencing market will expand over the forecast period as more people use next generation sequencing for liquid biopsy.
Rapidly increasing cancer cases have become a major issue all over the world. The sickness not only kills people but also has a negative influence on countries’ economies. As a result, the government and a variety of other healthcare organisations are taking steps to combat cancer’s global burden. Research institutes are receiving large sums of money in order to find viable treatments and drugs. New studies are being launched to comprehensively examine the human genome.
Some of the major players operating in the Clinical Oncology Next Generation Sequencing market are:
- Illumina, Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Hoffmann-La Roche Ltd. (Switzerland)
- Agilent Technologies Inc. (U.S.)
- Myriad Genetics Inc. (U.S.)
- BGI (China)
- Perkin Elmer Inc. (U.S.)
- Foundation Medicine Inc. (U.S.)
- PacBio (U.S.)
- Oxford Nanopore Technologies plc. (U.K.)
- Paradigm Diagnostics Inc. (U.S.)
- Caris Life Sciences (Japan)
- Partek, Incorporated (U.S.)
- Eurofins Scientific (Luxembourg)
- Qiagen (Germany)
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According to the American Cancer Society, 1.7 million additional cancer cases and 0.6 million cancer deaths occurred in the United States in 2019. Lung, prostate, bladder, and female breast cancer are the four most common cancers worldwide, accounting for 43% of all new cancer cases. As a result, demand for clinical oncology next-generation sequencing is predicted to rise as cancer incidence rates rise globally. Clinical oncology next-generation sequencing companies are increasingly investing in workflow automation to improve accuracy and lower sample-to-sample variability.
Clinical Oncology Next Generation Sequencing Market Segmentation
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing and Resequencing Centrifuges
- Data Analysis
- Sporadic Cancer
- Inherited Cancer
- Companion Diagnostics
- Other Diagnostics
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