Clinical Oncology Next Generation Sequencing Market Growth Analysis, Trends Forecast by Regions and Types to 2028

Posted on 2022-11-23 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Nov 24, 2022 — /EPR Network/ —

Clinical Oncology Next Generation Sequencing Industry Overview

The global Clinical Oncology Next Generation Sequencing Market size is expected to reach USD 892.61 million by 2028 registering a CAGR of 14.70%, according to a new report by Grand View Research, Inc. Technological advancements in next-generation sequencing coupled with high adoption of companion diagnostics and personalized medicine drive the global market growth.

In addition, a rise in the utility of next generation sequencing (NGS) for liquid biopsy is expected to increase revenue generation in the market. NGS is employed to sequence circulating tumor DNA (ctDNA) for the analysis of liquid biopsy samples. This leads to efficient molecular profiling of tumors, which, in turn, facilitates real-time, non-invasive monitoring of tumors.

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:

Based on the Technology Insights, the market is segmented into Whole Genome Sequencing, Whole Exome Sequencing and Targeted Sequencing & Resequencing Centrifuges

The targeted sequencing & resequencing segment dominated the market with a revenue share of over 72% in 2020.
Whole-Genome Sequencing (WGS) is projected to be the fastest-growing technology segment from 2021 to 2028 owing to the utility of this technology to differentiate and compare normal tissues from tumor tissues.

Based on the Workflow Insights, the market is segmented into Pre-Sequencing, Sequencing, and Data Analysis

Sequencing was the highest revenue-generating workflow segment in 2020 and accounted for a revenue share of over 54%.
NGS data analysis is anticipated to grow at a significant rate. Efforts taken by key market participants to develop advanced computational tools propels the segment growth.

Based on the Application Insights, the market is segmented into Screening, Companion Diagnostics, and Other Diagnostics

Screening accounted for the largest revenue share of over 79% as NGS is highly employed in cancer screening programs across the globe.
The companion diagnostics segment is projected to register the fastest CAGR from 2021 to 2028.

Based on the End-use Insights, the market is segmented into Hospitals, Clinics, and Laboratories

The laboratories segment led the market with a revenue share of over 65% in 2020.
Clinical laboratories are regulated by several governing bodies in the U.S. The CMSs regulate laboratory testing through Clinical Laboratory Improvement Amendments (CLIA).

Clinical Oncology Next Generation Sequencing Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is marked by the presence of several small- and mid-sized entities that have taken substantial efforts to strengthen their market presence.

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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