The global clinical oncology next-generation sequencing market is poised for remarkable expansion, with projections showing a dramatic rise from USD 635 million in 2024 to USD 3,131.5 million by 2034, reflecting an impressive compound annual growth rate (CAGR) of 17.3%. This surge underscores the transformative potential of NGS technology in revolutionizing cancer diagnosis and treatment.
Driving Forces Behind Market Growth
A significant factor behind the market’s rapid growth is the increasing adoption of precision medicine in oncology. Precision medicine, which customizes treatment plans based on an individual’s genetic makeup, is offering more targeted and effective therapies. NGS plays a crucial role in identifying genetic mutations in cancer cells, enabling the development of treatments that address specific molecular pathways. This approach not only leads to improved patient outcomes but also reduces side effects, enhancing the overall quality of care.
Regulatory Approvals Boost Confidence in NGS
Market momentum is further bolstered by the growing number of regulatory approvals for NGS-based oncology tests. Key global regulatory bodies, including the U.S. Food and Drug Administration (FDA), have endorsed NGS assays for clinical applications, demonstrating their safety, efficacy, and reliability. This increasing regulatory confidence is encouraging healthcare providers worldwide to integrate NGS technology into their standard diagnostic and treatment protocols, further validating the technology’s role in the clinical oncology landscape.
Technological Advancements Revolutionizing NGS
Technological innovations in automation and miniaturization are also playing a critical role in transforming the NGS market. The advent of decentralized sequencing systems and point-of-care NGS solutions is enhancing accessibility to precision oncology. Portable NGS devices are enabling rapid, on-site sequencing, empowering healthcare providers across hospitals, clinics, and remote locations to make timely and accurate diagnostic and treatment decisions. These advancements are set to reduce costs, streamline turnaround times, and improve access to high-quality cancer care globally.
A Bright Future for Cancer Treatment
With the increasing demand for precision medicine and the ongoing evolution of NGS technology, the future of clinical oncology looks exceptionally promising. NGS is expected to play a pivotal role in advancing cancer diagnosis and treatment, making personalized, targeted therapies more accessible and effective across diverse healthcare settings worldwide.
As the clinical oncology landscape continues to evolve, the integration of NGS technology offers renewed hope for cancer patients, providing innovative treatment options that are tailored to their genetic profiles and improving long-term outcomes.
Key Takeaways from the Clinical Oncology Next-generation Sequencing Market Report:
- The global market size expanded at a 19% CAGR from 2019 to 2023.
- The kits and reagents segment holds 60.9% of the market share in 2024.
- The synthesis sequencing (SBS) technology segment captures 68.5% of the market share in 2024.
- The market size in France is anticipated to develop at a 21.6% CAGR through 2034.
- The market size in the United States is estimated to surge at a 19.4% CAGR through 2034.
- The market size in Germany is expected to increase at a 19.1% CAGR through 2034.
Explore the Growing Demand for Clinical Oncology Next-generation Sequencing: Get All the Insights in Our Comprehensive Report!
Note from the Analysts:
“Success in the clinical oncology NGS industry requires adherence to legal requirements and a focus on environmentally sustainable solutions. Agility and creativity will become more important as competition heats up for businesses to succeed.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Competitive Landscape:
The clinical oncology next-generation sequencing (NGS) industry is driven by fierce rivalry and a dynamic competitive environment. Technological innovation, collaborations, and consolidations influence the landscape. Leading firms such as Illumina Inc., Thermo Fisher Scientific Inc., and Qiagen N.V. lead the industry, relying on their wide product portfolios, global reach, and strong brand awareness to preserve their position. These companies invest extensively in research and development to constantly improve their sequencing platforms, create novel tests, and extend their presence in critical geographic locations.
Recent Developments:
- In April 2024, the FDA authorized Alecensa, Genentech Inc.’s alectinib, for adjuvant treatment after tumor resection in patients with ALK-positive non-small cell lung cancer (NSCLC) diagnosed by an FDA-approved test.
- In February 2024, Twist Bioscience Corporation introduced the cfDNA Library Preparation Kit, enabling liquid biopsy research. It is intended to increase the amount of unique cfDNA molecules collected during library preparation.
Leading Clinical Oncology Next-generation Sequencing Brands:
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Qiagen N.V.
- F. Hoffmann-La Roche Ltd.
- Pacific Biosciences of California, Inc.
- Oxford Nanopore Technologies Ltd.
- Agilent Technologies, Inc.
- BGI Group
- PerkinElmer, Inc.
- Bio-Rad Laboratories, Inc.
Key Segments of Market Report:
By Component:
Based on component, the industry fragments into sequencing platforms, sequencing products, kits and reagents, and services.
By Technology:
Depending on technology, the sector is segmented into ion semiconductor sequencing, pyro-sequencing, synthesis sequencing (SBS), real time sequencing (SMRT), ligation sequencing, reversible dye termination sequencing, and Nano-pore sequencing.
By Application:
Clinical oncology next-generation sequencing finds application in whole tumor genome sequencing, whole tumor exome sequencing, targeted tumor genome profiling, tumor transcriptome sequencing, tumor-normal comparisons, and others.
By End User:
Top end user existing in this industry are hospitals, laboratories, clinical research organizations, diagnostic laboratories, and others.
By Region:
Analysis of the market has been conducted in the countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa (MEA).
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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