With reference to the report published by the professionals, the scope of the global Clinical Oncology Next Generation Sequencing (NGS) Market was projected at 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.
Substantial growth in the acceptance of genome-focused pharmacology for the treatment of cancer is estimated to deliver opportunities for development for the market. Clinical Oncology NGS functions as one of the greatly advanced genomic procedures for the examination of transformations that cause the development of cancer.
NGS (Next Generation Sequencing) permits the testing of entire categories of alternatives comprising number changes of gene copy and translocations, deletions, single-nucleotide variations, exon duplications, and insertions. The important aspect backing the development of the global clinical oncology NGS industry is the enhanced consideration of the hereditary indicators of resistance and virulence.
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. As this method is additionally dependable than Sanger sequencing for diagnosis, the market is estimated to observe considerable development during the period of forecast.
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. The advanced technology of sequencing proposes a superior understanding of lump, therefore permitting the designing of balance medication. Therefore, additional products are estimated to become commercialized during the nearby period.
Growth in oncology-associated expenditure is additionally estimated to power the development of the clinical oncology next-generation sequencing (NGS) industry during the approaching years. The government administrations are dedicated to inspiring patients to frequently go through diagnostic checkups to decrease oncology-associated healthcare expenses. In accordance with the information, it is estimated that healthcare spending is expected to considerably increase. This manner induces the acceptance of the platforms of NGS diagnostics.
The global clinical oncology NGS market can be classified by End-Use, Application, Workflow, Technology, and Region. By End Use, it can be classified as Laboratories, clinics & Hospitals, Academic Research, Clinical Research, and Biotech & Pharmaceutical Units. By Application, it can be classified as Companion Diagnostics, Screening, and Others. By Workflow, it can be classified as NGS Data Analysis, NGS Pre-Sequencing, and NGS Sequencing. By Technology it can be classified as Targeted Sequencing & Resequencing, Whole Genome Sequencing, and Whole Exome Sequencing.
By Region, the global clinical oncology next generation sequencing industry can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2018, North America grabbed the biggest share of the global market for clinical oncology NGS, due to an augmented emphasis of government organizations on the treatment of cancer, growth in the spending on healthcare, and the existence of sufficient healthcare substructure. Furthermore, greater occurrence of cancer, increasing demand for custom-made medication, finely honed healthcare amenities, and an obtainability of innovative diagnostics methods, particularly in the arena of oncology, can be credited to the region’s probable share of the market. Furthermore, increasing ill health and death owing to cancer has augmented the necessity for the development of innovative treatments, by this means motivating the provincial market.
Asia Pacific region is likely to be the speedily developing area during the course of the forecast mainly because of incessant improvements in the industries of pharmaceuticals and healthcare within the region. Additional reasons backing this development are untouched markets within emerging nations. The market is constantly motivated by the growth in the occurrences of cancer through the Asia Pacific. China leads a load of cancer within the region. It is tracked by the Republic of Korea, Indonesia, Japan, and India. The uppermost three categories of cancer by way of the occurrences within the region are prostate, breast, and lung cancer.
Some of the important companies for clinical oncology next-generation sequencing market are 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, Oxford Nanopore Technologies Ltd, Foundation Medicine, Beijing Genomics Institute (BGI), Agilent Technologies, Thermo Fisher Scientific and Illumina, Inc.
Clinical Oncology NGS Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Whole Genome Sequencing
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing
Clinical Oncology NGS Workflow Outlook (Revenue, USD Million, 2014 - 2025)
• NGS Pre-Sequencing
• NGS Sequencing
• NGS Data Analysis
Clinical Oncology NGS Application Outlook (Revenue, USD Million, 2014 - 2025)
• Sporadic Cancer
• Inherited Cancer
• Companion Diagnostics
Clinical Oncology NGS End-use Outlook (Revenue, USD Million, 2014 - 2025)
Clinical Oncology NGS Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• the Asia Pacific
• Latin America
• Middle East and Africa (MEA)
• South Africa
Research Support Specialist, USA