Clinical Oncology Next Generation Sequencing Market Size, Share & Trends Analysis Report 2021 - 2028
Clinical Oncology Next Generation Sequencing Industry Overview
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. This is because the technology enables the identification of resistance mechanisms, germline, and somatic mutations, and allows quantification of mutational burden of cancers. These factors are anticipated to aid in increasing the clinical utility of NGS in precision oncology care.
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.
Gather more insights about the market drivers, restrains and growth of the Global Clinical Oncology Next Generation Sequencing market
This product will facilitate NGS-based molecular diagnostics of tumors in routine clinical practice. In January 2021, 4baseCare; a precision oncology start-up collaborated with Advanced Centre for Treatment, Research and Education in Cancer (ACTREC), India to develop ClinOme - an AI-driven clinical interpretation 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.
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- Immunoprecipitation Market - The global immunoprecipitation market size was valued at USD 605.0 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2019 to 2026. Growing number of research activities in the life science sector is driving the market. In addition, technological advancements in immunoprecipitation technique is fostering market growth.
Clinical Oncology Next Generation Sequencing Market Segmentation
Grand View Research has segmented the global clinical oncology next generation sequencing market on the basis of technology, workflow, application, end-use, and region:
Clinical Oncology NGS Technology Outlook (Revenue, USD Million, 2017 - 2028)
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing Centrifuges
Clinical Oncology NGS Workflow Outlook (Revenue, USD Million, 2017 - 2028)
- Pre-Sequencing
- Sequencing
- Data Analysis
Clinical Oncology NGS Application Outlook (Revenue, USD Million, 2017 - 2028)
- Screening
- Companion Diagnostics
- Other Diagnostics
Clinical Oncology NGS End-use Outlook (Revenue, USD Million, 2017 - 2028)
- Hospitals
- Clinics
- Laboratories
Clinical Oncology NGS Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- 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.
Key Companies profiled:
Some prominent players in the global Clinical Oncology Next Generation Sequencing market include
- Illumina, Inc.
- Thermo Fisher Scientific
- 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
- Partek, Inc.
- Eurofins Scientific S.E.
- Qiagen N.V.
Order a free sample PDF of the Clinical Oncology Next Generation Sequencing Market Intelligence Study, published by Grand View Research.
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