The global clinical oncology next-generation sequencing market is on a rapid growth trajectory, with its size estimated at USD 635 million in 2024. Forecasts indicate that the market is set to surge past USD 3,131.5 million by 2034, reflecting a robust compound annual growth rate (CAGR) of 17.3% from 2024 to 2034.
The rise of precision medicine in oncology, which emphasizes tailoring treatments based on patients’ unique genetic profiles, has underscored the critical role of NGS. NGS facilitates the identification of genetic mutations and alterations in malignancies, making it a cornerstone of precision oncology. By analyzing the genetic makeup of tumors, healthcare professionals can develop customized treatment plans that target specific molecular pathways responsible for cancer development, leading to more effective therapies with fewer side effects and improved patient outcomes.
The approval of several NGS-based oncology tests by the United States Food and Drug Administration (FDA) and other regulatory agencies has further bolstered the market’s growth. These approvals underscore the reliability, efficacy, and safety of NGS assays in clinical settings. Regulatory endorsements enhance the credibility and acceptability of NGS testing among physicians, payers, and healthcare providers, ensuring that these assays meet stringent performance and quality standards.
Innovations in automation and miniaturization are also driving the expansion of the NGS market. Advances in technology are paving the way for decentralized sequencing systems and point-of-care NGS solutions. These portable and user-friendly systems, designed for use in hospitals, clinics, and remote locations, enable rapid on-site sequencing of patient samples. The development of point-of-care NGS systems promises to improve turnaround times, enhance accessibility, and reduce costs, potentially making these technologies more appealing to a broader range of healthcare environments.
As the global clinical oncology NGS market continues to evolve, its growth is expected to reflect the increasing demand for precision medicine and advancements in sequencing technologies, promising significant improvements in cancer diagnosis and treatment.
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!
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.
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.” Says a Lead Analyst at Future Market Insights (FMI).
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).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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