Clinical Oncology Next Generation Sequencing Market in Focus: Forecasting Growth Drivers, Scaling Potential, and Global Opportunities
Discover trends, market shifts, and competitive outlooks for the clinical oncology next generation sequencing industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
What Is the Current and Projected Market Size of the Clinical Oncology Next Generation Sequencing Market Through 2034?
There has been significant growth in the clinical oncology next generation sequencing market in the past few years. This market is projected to increase from $0.51 billion in 2024 to $0.58 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.8%. The expansion during the historic period can be linked to advances in genomic research, the detection of cancer biomarkers, technological progress, and regulatory approvals.
The market size of clinical oncology next generation sequencing is predicted to experience rapid expansion in the upcoming years, expected to reach $0.95 billion by 2029, with a compound annual growth rate (CAGR) of 12.9%. The expected growth during the forecast period is due to an increase in cancer incidences, the rise of precision medicine, developments in immuno-oncology, and the use of liquid biopsies. The major trend drivers during the forecast period are expected to be comprehensive genomic profiling (cgp), further advancements in immuno-oncology, an understanding of tumor evolution and heterogeneity, as well as the integration of AI and machine learning.
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What Are the Core Market Drivers Propelling Growth in the Clinical Oncology Next Generation Sequencing Industry?
The escalation in global cancer cases is anticipated to fuel the expansion of the clinical oncology next-generation sequencing market in the approaching years. For instance, data from the National Cancer Institute, a US government agency, revealed approximately 18.1 million cancer survivors in May 2024 in the United States. Such figures are estimated to climb to 22.5 million by 2032. It’s predicted that by 2040, the annual number of new cancer cases will hit 29.9 million, while cancer-related deaths are projected to rise to 15.3 million. Consequently, the increasing global cancer incidence rate is expected to stimulate the demand and growth of the clinical oncology next-generation sequencing market.
How Is the Clinical Oncology Next Generation Sequencing Market Segmented?
The clinical oncology next generation sequencing market covered in this report is segmented –
1) By Technology: Ion Semiconductor Sequencing, Pyro-Sequencing, Synthesis Sequencing, Real Time Sequencing, Ligation Sequencing, Reversible Dye Termination Sequencing, Nano-Pore Sequencing
2) By Application: Screening, Companion Diagnostics, Other Diagnostics
3) By End User: Hospital Laboratories, Clinical Research Organizations, Diagnostic Laboratories
Subsegments:
1) By Ion Semiconductor Sequencing: Ion Proton System, Ion PGM System, Ion S5 System, Other Ion Semiconductor Sequencing Technologies
2) By Pyro-Sequencing: 454 Pyrosequencing, Other Pyro-Sequencing Technologies
3) By Synthesis Sequencing: Illumina Sequencing Technology, SOLiD Sequencing Technology, Other Synthesis Sequencing Technologies
4) By Real-Time Sequencing: PacBio RS II System, Sequel System, Other Real-Time Sequencing Technologies
5) By Ligation Sequencing: Helicos Single Molecule Sequencing, Other Ligation Sequencing Technologies
6) By Reversible Dye Termination Sequencing: Illumina HiSeq, Illumina NextSeq, Other Reversible Dye Termination Sequencing Technologies
7) By Nano-Pore Sequencing: Oxford Nanopore Technologies (MinION, GridION, PromethION), Other Nano-Pore Sequencing Technologies
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Which Regions Are Driving the Next Phase of the Clinical Oncology Next Generation Sequencing Market Growth?
North America was the largest region in the clinical oncology next-generation sequencing market in 2023. Asia-Pacific was the second largest region in the clinical oncology next-generation sequencing market. The regions covered in the clinical oncology next generation sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Key Trends Are Shaping the Future of the Clinical Oncology Next Generation Sequencing Market?
Leading enterprises in the clinical oncology next-generation sequencing market are introducing innovative products like the BenchMark ULTRA PLUS system to boost their market profitability. Especially useful for clinical labs engaged in cancer diagnostics and research, the BenchMark ULTRA PLUS System enhances the precision and effectiveness of diagnostic procedures, thereby promoting better patient care. Roche, a pharmaceutical firm based in Switzerland, for example, launched the BenchMark ULTRA PLUS system, their most advanced tissue staining platform in June 2022. This system facilitates quick and precise test results, enabling clinicians to decide on a patient’s treatment path efficiently.
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How Is the Clinical Oncology Next Generation Sequencing Market Defined and What Are Its Core Parameters?
Next generation sequencing (NGS) is a process used to determine the sequence of nucleotides in a section of DNA and is used in oncology research. NGS is used to identify rare cancer mutations and familial cancer mutation carriers and to provide molecular rationale for appropriate targeted therapy.
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