Clinical Oncology Next Generation Sequencing Market to Grow at a CAGR of 14.70% from 2022-2028

Posted on 2022-09-16 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Sept 16, 2022 — /EPR Network/ —

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.

Browse through Grand View Research’s Biotechnology Industry Research Reports.

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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.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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