Dubai, United Arab Emirates, January 27, 2022 (GLOBE NEWSWIRE) – Global Next generation sequencing market for clinical oncology It is valued at approx 449.4 million US dollars in 2022. With the increasing adoption of Next Generation Sequencing (NGS) in clinical oncology for personalized advanced treatment of cancer, the overall clinical oncology Next Generation Sequencing (NGS) market is expected to expand at a prolific CAGR 16.3% Between 2022 and 2029, up to a valuation in US dollars 1.14 Bn by 2029.
Next-generation sequencing refers to the identification of nucleotides of DNA base pairs for the diagnosis of various diseases. Oncology is an important application of next generation sequencing.
It is an advanced and faster method of sequencing. Next-generation sequencing in clinical oncology includes sequencing kits, reagents, services, platforms, and sequencing products. The kits and reagents used for sequencing are expected to experience significant growth in the overall clinical oncology next-generation sequencing market.
|Estimated Size of Next Generation Sequencing of Clinical Oncology Market in 2022||449.4 million US dollars|
|The forecast size of the next generation clinical oncology sequencing market in 2029||1.14 billion US dollars|
|Historic compound annual growth rate for the next generation clinical oncology market (2014-2021)||14.4%|
|Compound Annual Growth Rate (CAGR) Based on Next Generation Sequencing of Clinical Oncology Market Value (2022-2029)||16.3%|
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North America is expected to be a prominent region in the global next generation sequencing market in clinical oncology owing to the well-developed healthcare infrastructure and several technological developments in the region. North America and Europe are expected to witness a significant growth rate in the next generation sequencing market for clinical oncology.
Aggregate sequencing technology to retain a large market value share
Based on technology, the next-generation clinical oncology sequencing market has been segmented into pyro sequencing, sequencing by synthesis (SBS), single molecule real-time sequencing (SMRT), nanopore sequencing, splicing sequencing and reversible dye termination sequencing. However, assembly sequencing is expected to occupy a significant share in the next generation sequencing market for clinical oncology.
Ionic semiconductor sequencing is a method of DNA sequencing in which hydrogen ions are detected based on DNA polymerization. Thermal sequencing involves determining the arrangement of nucleotides in DNA based on the principle of “sequencing by synthesis”, where sequencing is carried out with the help of DNA polymerase. SBS is a technique used to identify the sequence of base pairs in DNA, also known as DNA sequencing.
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|Historical data available for||2014-2021|
|market analysis||Units of volume and million dollars of value|
|Main areas covered||North America, Latin America, Europe, East Asia, South Asia,
Oceania, Middle East and Africa
|Main countries covered||United States, Canada, Mexico, Brazil, Germany, United Kingdom, France,
Italy, Spain, Russia, Poland, China, Japan, South Korea,
India, ASEAN, Turkey, Saudi Arabia and South Africa
|Main parts covered||Component, technology, application, end user, and region|
|An overview of the main companies||
|Report coverage||Market forecast, company share analysis, competition intelligence,
DROT analysis, market dynamics, challenges and strategic growth initiatives
There are many applications associated with the next generation clinical oncology market. They include whole tumor genome sequencing, whole tumor exome sequencing, target tumor genome profiling, tumor histology sequencing, comparisons of normal tumors, and other applications.
Targeted tumor genome classification is expected to capture a significant share of the next-generation clinical oncology treatment market. On the basis of the end user, the next generation clinical oncology sequencing market has been segmented into hospital laboratories, clinical research organizations, diagnostic laboratories, and others. Clinical research laboratories are expected to have a significant revenue share in the next generation sequencing market for clinical oncology.
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Apart from the factors driving the clinical oncology next-generation sequencing market, there are a few factors that are likely to hinder the overall growth of the clinical oncology next-generation sequencing market, such as high costs associated with setting up sequencing platforms, low quality outsourcing services, lack of Adequate availability of sequencing platforms in some regional markets.
On the other hand, increase in biomedical research using clinical oncology, increase in government funding for life science projects, significant reduction in sequencing prices, and technological advancement in the field of sequencing are some of the major factors driving the growth of clinical oncology next generation sequencing market.
Tier 1 companies own approximately 3/5y Share of global market value
The report tracks some of the key companies operating in the next generation clinical oncology sequencing market such as QIAGEN NV and Thermo Fisher Scientific. and Pacific Biosciences of California, Inc. and F. Hoffmann-La Roche Ltd Oxford Nanopore Technologies, Ltd. Takara Bio, Inc. is expected to own and Illumina Inc. and PerkinElmer Inc. and Agilent Technologies, Inc. Thermo Fischer Scientific and Oxford Nanopore Technologies Ltd. And Illumina has a significant share of the next generation clinical oncology sequencing market. These top-tier companies have an approximately 60% share in the next-generation sequencing market for clinical oncology.
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