The global clinical oncology next generation sequencing market size was valued at USD 297.9 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.70% from 2021 to 2028. The technology facilitates time- and cost-effective sequencing of tumor DNA, which, in turn, has brought about a “genomic era” of cancer treatment as well as research. Next generation sequencing (NGS) has brought noteworthy developments in personalized medicine for oncology.
Rise in clinical applications of next-generation sequencing in precision oncology has driven the efforts of the key companies to develop novel platforms that can be used for genomic assays. For instance, in February 2021, Congenica collaborated with Gabriel Precision Oncology Ltd. to manufacture an automatic clinical oncology interpretation software platform.
This platform analyses NGS raw data, which is used by clinicians to categorize and interpret genomic alterations along with experimental and approved therapies for each resistant and responsive genotype-drug combination. This further increases the use of NGS data analysis platforms for personalized oncology treatment.
Top Key Players studied in Clinical Oncology Next Generation Sequencing Market:
· Illumina, Inc.
· Thermo Fisher Scientific
· F. Hoffmann-La Roche Ltd.
· Agilent Technologies
· Myriad Genetics
· Beijing Genomics Institute (BGI)
· Perkin Elmer
· Foundation Medicine
· Pacific Bioscience
· Oxford Nanopore Technologies Ltd.
· Paradigm Diagnostics
· Caris Life Sciences
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Global Clinical Oncology Next Generation Sequencing Market Segmented by Product:
· Screening
· Sporadic Cancer
· Inherited Cancer
· Companion Diagnostics
· Other Diagnostics
Global Clinical Oncology Next Generation Sequencing Market Segmented by Region:
North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.), Asia-Pacific (China; India; Japan; Southeast Asia etc.), South America (Brazil; Argentina etc.), Middle East & Africa (Saudi Arabia; South Africa etc.)
The market is marked by the presence of several small- and mid-sized entities that have taken substantial efforts to strengthen their market presence. For instance, in May 2020, Burning Rock Biotech Limited; a China-based cancer test provider, partnered with Illumina to promote the standardization and development of NGS-based cancer therapy selection within China. The company also signed an agreement with Myriad Genetics, Inc. to develop and commercialize my Choice tumor testing in China.
Research Objectives:
• To study and analyze the Clinical Oncology Next Generation Sequencing Market size by product type, application and key regions/countries history data from 2016 to 2020, and forecast to 2028.
• To understand the structure of the Clinical Oncology Next Generation Sequencing Market by identifying its various sub-segments.
• Focuses on the Clinical Oncology Next Generation Sequencing Market players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
• To analyze the Clinical Oncology Next Generation Sequencing Market with respect to individual growth trends, future prospects, and their contribution to the total market.
• To share detailed information about the key factors influencing the growth of the market.
• To project the size of Clinical Oncology Next Generation Sequencing Market, with respect to key regions.
• To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
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- Offers detailed market breakdown and data triangulation that will help guide the market trends.
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- Provides a detail analysis about the Covid-19 impact on the market and how it will help boost the market in the near future.
- Give’s a thorough analyst’s viewpoint which guides the client through market collaterals for the better opportunities in the market.
· Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies.
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With reference to the report published by the professionals the scope of the global Clinical Oncology Next Generation Sequencing (NGS) Market was projected on US$ 627.2 million in 2018.
It is estimated to grow by a CAGR of 13.2% for the duration of the forecast and to touch US$ 1.5 billion by the completion of 2025.
Market Overview: Substantial growth in the acceptance of genome-focused pharmacology for the treatment of cancer is estimated to deliver opportunities of development for the market.
Clinical Oncology NGS functions such as one of the greatly advanced genomic procedures for the examination of transformations that cause development of the cancer.
Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/clinical-oncology-next-generation-sequencing-ngs-market/request-sample Key Players:Qiagen N.V., Partek, Inc., Paradigm Diagnostics, Pacific Bioscience, Perkin Elmer, Myriad Genetics, F. Hoffmann-La Roche Ltd, Eurofins Scientific S.E, Caris Life Sciences Growth Drivers: The development of the clinical oncology next generation sequencing market is complemented by the reduction in the price of genetic sequencing, progressions in the arena of oncology and custom-made medication, growth in the occurrence of cancer, all over the world and development in the acceptance of this method above single-gene testing.
Leap forward progressions in the expansion of genetic centered examinations for oncology and additional complaints for the duration of the previous a small number of years have considerably driven the development of the market.
Rise in burden of cancer increases the need for early detection of the condition to carry out the generate target therapy.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=74625Companies are investing to develop technologically advanced devices/solutions for precision detection.
In November 2019, Thermo Fisher Scientific launched its fully integrated next-generation sequencing (NGS) platform, Ion Torrent Genexus System, featuring an automated specimen-to-report workflow that delivers results economically in a single day.Key Drivers and Restraints of Global Clinical Oncology Next Generation Sequencing MarketRise in burden of cancer and its early diagnosis for treatment is fueling market growth.
As per CB Insights, a research firm, equity investments in cancer-therapeutics startups grew from US$ 2 Bn in 2013 to US$ 4.5 Bn in 2017.Non-value-based NGS reimbursement policy hampers market growth due to relatively high total costs of delivering NGS test results compared to other technology platforms, and limited coverage by payersRequest COVID Analysis on Clinical Oncology Next Generation Sequencing (NGS) Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=74625Targeted Sequencing & Resequencing Technology for Skin Treatment to Witness High DemandBased on technology, the global clinical oncology next generation sequencing market can be segmented into whole genome sequencing, whole exome sequencing, and targeted sequencing & resequencingTargeted sequencing & resequencing segment dominates the clinical oncology next generation sequencing market, in terms of revenue generation.
This technique is useful in analyzing specific mutations.
Due to its cost-effective findings, and accurate and easy-to-interpret results, targeted sequencing & resequencing holds a leading share of the global market.
Due to decrease in sequencing cost and expansion of computer resources, the whole genome sequencing technology will become common and sophisticated, as it provides sufficient information to understand the biology underlying the cancer genome and function of unexplored non?coding regions.Pre Book Clinical Oncology Next Generation Sequencing (NGS) Market – https://www.transparencymarketresearch.com/checkout.php?rep_id=74625=SCompanion Diagnostic Segment to Witness Rapid GrowthBased on application, the global clinical oncology next generation sequencing market can be segregated into screening, companion diagnostics, and other diagnostics.
The Business Research Company published its Clinical Oncology Next Generation Sequencing Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Clinical Oncology Next Generation Sequencing market.
The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.The report covers the clinical oncology next generation sequencing market’s segments-1) By Technology: Ion Semiconductor Sequencing, Pyro-Sequencing, Synthesis Sequencing, Real Time Sequencing, Ligation Sequencing, Reversible Dye Termination Sequencing, Nano-Pore Sequencing2) By Application: Screening, Companion Diagnostics, Other Diagnostics3) By End User: Hospital Laboratories, Clinical Research Organizations, Diagnostic laboratories.
View Complete Report:https://www.thebusinessresearchcompany.com/report/clinical-oncology-next-generation-sequencing-global-market-report-2020-30-covid-19-growth-and-changeClinical Oncology Next Generation Sequencing Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.The global clinical oncology next generation sequencing market is expected to decline from $447.28 billion in 2019 to $437.55 billion in 2020 at a compound annual growth rate (CAGR) of -2.18%.
The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities.
