Claim your 30% discount on Global Market Reports with code ONLINE30. Limited time only.
What is the Anticipated CAGR of the NGS Oncology Market, and What Factors Will Drive It?
The market size for ngs oncology has seen swift expansion in the recent past. It is projected to increase from $17.36 billion in 2024 to $19.33 billion in 2025 with a compound annual growth rate (CAGR) of 11.3%. Factors contributing to the growth during the historical period comprise of escalating instances of cancer, heightened research in cancer genomics, growing public consciousness, development of healthcare facilities, and a surge in the need for personalized medicine.
A speedy expansion is predicted for the ngs oncology market in the forthcoming years, escalating to a worth of $29.64 billion in 2029, following a compound annual growth rate (CAGR) of 11.3%. This growth projection for the specified period can be related to the expansion of companion diagnostics, the escalating incidences of cancer, the rise in government and healthcare investments, the broader application in clinical fields, and the growing preference for targeted therapies. Key trends for this forecast period incorporate the integration of AI and machine learning, progress in single-cell sequencing, advancements in sequencing platforms, an enhancement in liquid biopsy technology, and the progression of high-throughput sequencing platforms.
Download a free sample to assess the report’s scope and structure:
https://www.thebusinessresearchcompany.com/sample.aspx?id=24337&type=smp
What External and Internal Drivers Are Contributing to the Growth of theNGS Oncology Market?
The growing incidence of cancer is anticipated to spur the expansion of the NGS oncology market. Cancer, a condition characterized by the unchecked growth and spread of abnormal cells, disrupts standard body functions. The rise in cancer incidence largely results from aging populations, given that cancer risk elevates with age. NGS oncology mitigates this escalating cancer incidence by facilitating early detection, accurate diagnosis, and individualized treatment via comprehensive tumor genetic profiling. For example, the American Cancer Society, a nonprofit organization based in the U.S., reported approximately 20 million new cancer cases worldwide in 2022, resulting in 9.7 million fatalities. This surge in cancer cases, largely due to population growth, is expected to elevate the global cancer burden to 35 million instances by 2050. Consequently, the escalating prevalence of cancer will fuel the NGS oncology market’s growth.
What Segment Types Define the NGS Oncology Market Structure?
The ngs oncologymarket covered in this report is segmented –
1) By Sequencing Technology: Targeted Sequencing; Genomics; Transcriptomics; Epigenomics
2) By Offering: Platform; Kits; Services
3) By Workflow: Pre-Sequencing; Sequencing; Data Analysis
4) By Application: Genetic Screening; Hereditary Genetic Testing; Hematological Malignancies; Solid Tumors; Other Applications
5) By End User: Hospitals And Clinics; Clinical Research Organizations (CROs); Academic And Research Institutes; Pharmaceutical And Biotechnology Companies; Other End Users
Subsegments:
1) By Targeted Sequencing: Whole Exome Sequencing (WES); Amplicon-Based Sequencing; Hybridization-Based Sequencing
2) By Genomics: Whole Genome Sequencing (WGS); Structural Variant Detection; Copy Number Variation (CNV) Analysis
3) By Transcriptomics: RNA Sequencing; Single-Cell Transcriptomics; Non-coding RNA Analysis
4) By Epigenomics: DNA Methylation Sequencing; Chromatin Immunoprecipitation Sequencing; Histone Modification Analysis
Request customized data on this market:
https://www.thebusinessresearchcompany.com/customise?id=24337&type=smp
Which Geographic Areas Hold the Strongest Growth Potential in the NGS Oncology Market?
North America was the largest region in the NGS oncology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the NGS oncology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Long-Term Trends Are Transforming the Competitive Landscape of the NGS Oncology Market?
Companies that lead the NGS oncology market are concentrating on the creation of innovative solutions such as liquid biopsy research assays. These assays offer non-invasive and real-time detection and tracking of cancer by analyzing circulating tumor DNA in the body. In simpler terms, a liquid biopsy research assay is a diagnostic tool that studies biological fluids like blood to identify genetic changes or other molecular markers associated with cancer, giving rise to non-intrusive means of detecting and tracking cancer. For example, in August 2024, a US-based biotech company, Illumina Inc, that specializes in next-generation sequencing (NGS) technology, added to its oncology offerings for NovaSeq X Series users. The company recently started providing the validated high-throughput TruSight Oncology 500 (TSO 500 HT) and the updated TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2) liquid biopsy research assays. These enhanced assays allow labs to expand their oncology research by handling both tissue and liquid biopsy samples while increasing sequencing efficiency, lessening run times and allowing the processing of larger samples volumes with the NovaSeq X Series for the first time.
View the full report here:
https://www.thebusinessresearchcompany.com/report/ngs-oncology-global-market-report
What Is the Definition of the NGS Oncology Market?
Next-generation sequencing (NGS) oncology refers to the use of advanced sequencing technologies to analyze the genetic makeup of cancer cells. It allows for the identification of specific mutations, genetic alterations, and biomarkers that can help guide personalized treatment plans, predict treatment responses, and improve the overall management of cancer patients. NGS oncology enables precision medicine, where therapies are tailored based on the genetic profile of the tumor.
Purchase the full report and get a swift delivery:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=24337
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 310-496-7795
Europe +44 7882 955267
Asia & Others +44 7882 955267 & +91 8897263534
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model