Product Code: GVR-3-68038-791-9
Clinical Oncology Next Generation Sequencing Market Growth & Trends
The global clinical oncology next generation sequencing market size is expected to reach USD 1.16 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.7% from 2023 to 2030. The clinical oncology next generation sequencing (NGS) market is in high demand. It is projected to expand at an increasing rate throughout the forecast period owing to the rising healthcare expenditure triggering the development of effective personalized medicine & therapeutic procedures for cancer and increasing adoption of NGS.
The increasing healthcare expenses and the launch of effective cancer treatments are expected to fuel market growth over the forecast period. A study published by the JAMA network in February 2023 estimated that the cost of cancer treatment can reach up to USD 25 trillion globally over the 30 years from 2020-2030. The comparative contribution of treatment expenses to the total economic expense of cancers was found to be more significant in high-income nations than in low-income nations. Moreover, various treatment techniques are being developed and utilized to diagnose and treat cancer. According to the study published by Wiley in January 2023, technological advances that are being used to develop new diagnostic techniques include image reconstruction software, imaging devices, hardware, biomarkers, and artificial intelligence algorithms, thereby delivering a reliable analysis and diagnosis of the tumor.
Furthermore, the growth of the clinical oncology next-generation sequencing market during the forecast period is propelled by the rise in the adoption of NGS over single gene testing. Many studies demonstrated that NGS is cost-effective and efficient over single gene testing. For instance, a study published by JCO Precision Oncology in March 2023 concluded that the adoption of NGS in Spanish reference centers to diagnose patients with NSCLC could be a cost-effective strategy over single gene testing. In addition, the study given by the National Library of Medicine in January 2023, suggests that the current NGS over sequential single-gene testing can slightly reduce annual costs. However, embracing NSG over SSG testing can decrease the average turnaround time, facilitating quicker identification of genomic alterations and early initiating therapy for small cell lung cancer patients in Japan. These factors are expected to drive the market over the forecast period.
Clinical Oncology Next Generation Sequencing Market Report Highlights
- In the workflow segment, NGS sequencing dominated the market with a revenue share of 56.0% in 2022, owing to technological advancements and the rising number of cancer sequencing projects
- By technology, the targeted sequencing and resequencing accounted for the largest revenue share of 72.7% in the clinical oncology NGS market in 2022. This can be attributed to the growing clinical utility of targeted panels and their efficiency in detecting cancer tumors
- By application, the screening segment held the highest share of 80.1% in 2022. The segment's dominance is due to the increasing prevalence of cancer worldwide
- By end-use, the laboratories segment accounted for the largest share of 64.1% in the clinical oncology NGS market in 2022. This can be attributed to the rising number of research and development activities
- North America held the largest market share of 48.68% in 2022. The dominance of the region is due to the presence of prominent international players in the market and rising investments from public and private organizations in life science research & solutions developments in the region
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Information Procurement
- 1.2. Information or Data Analysis
- 1.3. Market Scope & Segment Definition
- 1.4. Market Model
- 1.4.1. Market Study, By Company Market Share
- 1.4.2. Regional Analysis
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related/Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Decrease in costs for genetic sequencing
- 3.2.1.2. Advancements in the field of personalized medicine
- 3.2.1.3. Rise in competition amongst prominent market entities
- 3.2.1.4. Growing healthcare expenditure triggering development of effective PM diagnostic & therapeutic procedure for cancer
- 3.2.1.5. Rise in prevalence of cancer
- 3.2.1.6. Growing adoption of NGS over single gene testing
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. Lack of computational efficiency for data management
- 3.2.2.2. Non-value based NGS reimbursement policy
- 3.3. Industry Analysis Tools
- 3.3.1. SWOT Analysis; By Factor (Political & Legal, Economic And Technological)
- 3.3.2. Porter's Five Forces Analysis
- 3.3.3. Penetration and Growth Prospect Mapping, 2022
- 3.4. COVID-19 Impact Analysis
Chapter 4. Clinical Oncology Next Generation Sequencing Market Categorization: Technology Estimates & Trend Analysis
- 4.1. Clinical Oncology NGS Market: Technology Movement Analysis
- 4.2. Clinical Oncology NGS Market Estimates & Forecast, By Technology (USD Million)
- 4.3. Whole Genome Sequencing
- 4.3.1. Whole Genome Sequencing For Clinical Oncology Market, 2018 - 2030 (USD Million)
- 4.4. Whole Exome Sequencing
- 4.4.1. Whole Exome Sequencing For Clinical Oncology Market, 2018 - 2030 (USD Million)
- 4.5. Targeted Sequencing & Resequencing
- 4.5.1. Targeted Sequencing & Resequencing For Clinical Oncology Market, 2018 - 2030 (USD Million)
Chapter 5. Clinical Oncology Next Generation Sequencing Market Categorization: Workflow Estimates & Trend Analysis
- 5.1. Clinical Oncology NGS Market: Workflow Movement Analysis
- 5.2. Clinical Oncology NGS Market Estimates & Forecast, By Workflow (USD Million)
- 5.3. NGS Pre-Sequencing
- 5.3.1. NGS Pre-Sequencing For Clinical Oncology Market, 2018 - 2030 (USD Million)
- 5.4. NGS Sequencing
- 5.4.1. NGS Sequencing For Clinical Oncology Market, 2018 - 2030 (USD Million)
- 5.5. NGS Data Analysis
- 5.5.1. NGS Data Analysis For Clinical Oncology Market, 2018 - 2030 (USD Million)
Chapter 6. Clinical Oncology Next Generation Sequencing Market Categorization: Application Estimates & Trend Analysis
- 6.1. Clinical Oncology NGS Market: Application Movement Analysis
- 6.2. Clinical Oncology NGS Market Estimates & Forecast, By End-User (USD Million)
- 6.3. Screening
- 6.3.1. Screening Clinical Oncology NGS Market, 2018 - 2030 (USD Million)
- 6.3.2. Sporadic Cancer
- 6.3.2.1. Sporadic cancer screening clinical oncology NGS market, 2018 - 2030 (USD Million)
- 6.3.3. Inherited cancer
- 6.3.3.1. Inherited cancer screening clinical oncology NGS market, 2018 - 2030 (USD Million)
- 6.4. Companion Diagnostics
- 6.4.1. Companion diagnostics clinical oncology NGS market, 2018 - 2030 (USD Million)
- 6.5. Other Diagnostics
- 6.5.1. Other diagnostics clinical oncology NGS market, 2018 - 2030 (USD Million)
Chapter 7. Clinical Oncology Next Generation Sequencing Market Categorization: End Use Estimates & Trend Analysis
- 7.1. Clinical Oncology NGS Market: End Use Movement Analysis
- 7.2. Clinical Oncology NGS Market Estimates & Forecast, By End-User (USD Million)
- 7.3. Hospitals
- 7.3.1. Hospitals Clinical Oncology NGS Market, 2018 - 2030 (USD Million)
- 7.4. Clinics
- 7.4.1. Clinics clinical oncology NGS market, 2018 - 2030 (USD Million)
- 7.5. Laboratories
- 7.5.1. Laboratories clinical oncology NGS market, 2018 - 2030 (USD Million)
Chapter 8. Clinical Oncology Next Generation Sequencing Market Regional Business Analysis
- 8.1. Clinical Oncology Next Generation Sequencing Market Share By Region, 2022 & 2030
- 8.2. North America
- 8.2.1. North America Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.2.2. U.S.
- 8.2.2.1. Key Country Dynamics
- 8.2.2.2. Competitive Scenario
- 8.2.2.3. Regulatory Framework
- 8.2.2.4. U.S. Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.2.3. Canada
- 8.2.3.1. Key Country Dynamics
- 8.2.3.2. Competitive Scenario
- 8.2.3.3. Regulatory Framework
- 8.2.3.4. Canada Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3. Europe
- 8.3.1. Europe Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3.2. UK
- 8.3.2.1. Key Country Dynamics
- 8.3.2.2. Competitive Scenario
- 8.3.2.3. Regulatory Framework
- 8.3.2.4. UK Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3.3. Germany
- 8.3.3.1. Key Country Dynamics
- 8.3.3.2. Competitive Scenario
- 8.3.3.3. Regulatory Framework
- 8.3.3.4. Germany Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3.4. France
- 8.3.4.1. Key Country Dynamics
- 8.3.4.2. Competitive Scenario
- 8.3.4.3. Regulatory Framework
- 8.3.4.4. France Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3.5. Italy
- 8.3.5.1. Key Country Dynamics
- 8.3.5.2. Competitive Scenario
- 8.3.5.3. Regulatory Framework
- 8.3.5.4. Italy Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3.6. Spain
- 8.3.6.1. Key Country Dynamics
- 8.3.6.2. Competitive Scenario
- 8.3.6.3. Regulatory Framework
- 8.3.6.4. Spain Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3.7. Denmark
- 8.3.7.1. Key Country Dynamics
- 8.3.7.2. Competitive Scenario
- 8.3.7.3. Regulatory Framework
- 8.3.7.4. Denmark Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3.8. Sweden
- 8.3.8.1. Key Country Dynamics
- 8.3.8.2. Competitive Scenario
- 8.3.8.3. Regulatory Framework
- 8.3.8.4. Sweden Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.3.9. Norway
- 8.3.9.1. Key Country Dynamics
- 8.3.9.2. Competitive Scenario
- 8.3.9.3. Regulatory Framework
- 8.3.9.4. Norway Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.4. Asia Pacific
- 8.4.1. Asia Pacific Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.4.2. Japan
- 8.4.2.1. Key Country Dynamics
- 8.4.2.2. Competitive Scenario
- 8.4.2.3. Regulatory Framework
- 8.4.2.4. Japan Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.4.3. China
- 8.4.3.1. Key Country Dynamics
- 8.4.3.2. Competitive Scenario
- 8.4.3.3. Regulatory Framework
- 8.4.3.4. China Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.4.4. India
- 8.4.4.1. Key Country Dynamics
- 8.4.4.2. Competitive Scenario
- 8.4.4.3. Regulatory Framework
- 8.4.4.4. India Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.4.5. Australia
- 8.4.5.1. Key Country Dynamics
- 8.4.5.2. Competitive Scenario
- 8.4.5.3. Regulatory Framework
- 8.4.5.4. Australia Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.4.6. Thailand
- 8.4.6.1. Key Country Dynamics
- 8.4.6.2. Competitive Scenario
- 8.4.6.3. Regulatory Framework
- 8.4.6.4. Thailand Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.4.7. South Korea
- 8.4.7.1. Key Country Dynamics
- 8.4.7.2. Competitive Scenario
- 8.4.7.3. Regulatory Framework
- 8.4.7.4. South Korea Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.5. Latin America
- 8.5.1. Latin America Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.5.2. Brazil
- 8.5.2.1. Key Country Dynamics
- 8.5.2.2. Competitive Scenario
- 8.5.2.3. Regulatory Framework
- 8.5.2.4. Brazil Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.5.3. Mexico
- 8.5.3.1. Key Country Dynamics
- 8.5.3.2. Competitive Scenario
- 8.5.3.3. Regulatory Framework
- 8.5.3.4. Mexico Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.5.4. Argentina
- 8.5.4.1. Key Country Dynamics
- 8.5.4.2. Competitive Scenario
- 8.5.4.3. Regulatory Framework
- 8.5.4.4. Argentina Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.6. MEA
- 8.6.1. MEA Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.6.2. South Africa
- 8.6.2.1. Key Country Dynamics
- 8.6.2.2. Competitive Scenario
- 8.6.2.3. Regulatory Framework
- 8.6.2.4. South Africa Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.6.3. Saudi Arabia
- 8.6.3.1. Key Country Dynamics
- 8.6.3.2. Competitive Scenario
- 8.6.3.3. Regulatory Framework
- 8.6.3.4. Saudi Arabia Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.6.4. UAE
- 8.6.4.1. Key Country Dynamics
- 8.6.4.2. Competitive Scenario
- 8.6.4.3. Regulatory Framework
- 8.6.4.4. UAE Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
- 8.6.5. Kuwait
- 8.6.5.1. Key Country Dynamics
- 8.6.5.2. Competitive Scenario
- 8.6.5.3. Regulatory Framework
- 8.6.5.4. Kuwait Clinical Oncology Next Generation Sequencing Market, 2018 - 2030 (USD Million)
Chapter 9. Competitive Landscape
- 9.1. Company Categorization
- 9.2. Strategy Mapping
- 9.3. Company Profiles/Listing
- 9.3.1. Illumina, Inc.
- 9.3.1.1. Overview
- 9.3.1.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.1.3. Product Benchmarking
- 9.3.1.4. Strategic Initiatives
- 9.3.2. Thermo Fisher Scientific Inc.
- 9.3.2.1. Overview
- 9.3.2.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.2.3. Product Benchmarking
- 9.3.2.4. Strategic Initiatives
- 9.3.3. F. Hoffmann-La Roche Ltd
- 9.3.3.1. Overview
- 9.3.3.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.3.3. Product Benchmarking
- 9.3.3.4. Strategic Initiatives
- 9.3.4. Agilent Technologies, Inc.
- 9.3.4.1. Overview
- 9.3.4.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.4.3. Product Benchmarking
- 9.3.4.4. Strategic Initiatives
- 9.3.5. Myriad Genetics, Inc.
- 9.3.5.1. Overview
- 9.3.5.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.5.3. Product Benchmarking
- 9.3.5.4. Strategic Initiatives
- 9.3.6. Beijing Genomics Institute (BGI)
- 9.3.6.1. Overview
- 9.3.6.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.6.3. Product Benchmarking
- 9.3.6.4. Strategic Initiatives
- 9.3.7. QIAGEN
- 9.3.7.1. Overview
- 9.3.7.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.7.3. Product Benchmarking
- 9.3.7.4. Strategic Initiatives
- 9.3.8. Perkin Elmer, Inc.
- 9.3.8.1. Overview
- 9.3.8.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.8.3. Product Benchmarking
- 9.3.8.4. Strategic Initiatives
- 9.3.9. PacBio
- 9.3.9.1. Overview
- 9.3.9.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.9.3. Product Benchmarking
- 9.3.9.4. Strategic Initiatives
- 9.3.10. Partek Incorporated
- 9.3.10.1. Overview
- 9.3.10.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.10.3. Product Benchmarking
- 9.3.10.4. Strategic Initiatives
- 9.3.11. Foundation Medicine Inc.
- 9.3.11.1. Overview
- 9.3.11.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.11.3. Product Benchmarking
- 9.3.11.4. Strategic Initiatives
- 9.3.12. Oxford Nanopore Technologies
- 9.3.12.1. Overview
- 9.3.12.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.12.3. Product Benchmarking
- 9.3.12.4. Strategic Initiatives
- 9.3.13. Paradigm Diagnostics, Inc.
- 9.3.13.1. Overview
- 9.3.13.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.13.3. Product Benchmarking
- 9.3.13.4. Strategic Initiatives
- 9.3.14. Caris Life Sciences
- 9.3.14.1. Overview
- 9.3.14.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.14.3. Product Benchmarking
- 9.3.14.4. Strategic Initiatives
- 9.3.15. Eurofins Scientific
- 9.3.15.1. Overview
- 9.3.15.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.15.3. Product Benchmarking
- 9.3.15.4. Strategic Initiatives
- 9.3.16. PerkinElmer, Inc.
- 9.3.16.1. Overview
- 9.3.16.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 9.3.16.3. Product Benchmarking
- 9.3.16.4. Strategic Initiatives