Clinical Oncology Next-generation Sequencing Market is reaching a valuation of US$ 1.14 Billion by 2029 - Comprehensive Research Report by FMI
Clinical Oncology Next-generation Sequencing Market - Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates, Jan. 27, 2022 (GLOBE NEWSWIRE) -- The global Clinical Oncology Next-Generation Sequencing Market is estimated to be worth around US$ 449.4 Mn in 2022. With rising adoption of next generation sequencing (NGS) in clinical oncology for advance personalized treatment of cancer, the overall Clinical Oncology Next-Generation Sequencing Market is projected to expand at a prolific CAGR of 16.3% between 2022 and 2029, reaching a valuation of US$ 1.14 Bn by 2029.
Next-generation sequencing refers to the identification of the nucleotides of DNA base pairs for the diagnosis of various diseases. Oncology is one of the important applications of next-generation sequencing.
It is an advanced and faster method of sequencing. Clinical oncology next-generation sequencing includes kits & reagents, services, sequencing platforms, and sequencing products. The kits and reagents used for sequencing are expected to witness significant growth in the overall Clinical Oncology Next-generation Sequencing Market.
| Attribute | Details | |
| Clinical Oncology Next-Generation Sequencing Market Estimated Size in 2022 | US$ 449.4 Mn | |
| Clinical Oncology Next-Generation Sequencing Market Projected Size in 2029 | US$ 1.14 Bn | |
| Clinical Oncology Next-Generation Sequencing Market Historical CAGR (2014-2021) | 14.4% | |
| Clinical Oncology Next-Generation Sequencing Market Value-Based CAGR (2022-2029) | 16.3% | |
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North America is expected to be a prominent region in the global clinical oncology next-generation sequencing market owing to the presence of well-developed healthcare infrastructure and numerous technological advancements in the region. North America and Europe are expected to witness a significant growth rate in the clinical oncology next-generation sequencing market.
Synthesis Sequencing Technology to Hold a Major Market Value Share
Based on the technology, the clinical oncology next-generation sequencing market has been segmented into pyro sequencing, sequencing by synthesis (SBS), and Single-Molecule Real-Time Sequencing (SMRT), nanopore sequencing, ligation sequencing, and reversible dye termination sequencing. Synthesis sequencing is however expected to hold a significant share in the clinical oncology next-generation sequencing market.
Ion semiconductor sequencing is a method of DNA sequencing in which hydrogen ions are detected based on the polymerisation of DNA. Pyro-sequencing includes identifying the order of nucleotides in DNA based on the "sequencing by synthesis" principle, in which the sequencing is performed with the help of DNA polymerase. SBS is a technique used to determine the series of base pairs in DNA, which is also known as DNA sequencing.
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Scope of the Report
| Attribute | Details |
| Historical Data Available for | 2014-2021 |
| Forecast Period | 2022-2029 |
| Market Analysis | Units for Volume and US$ Mn for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East and Africa |
| Key Countries Covered | US, Canada, Mexico, Brazil, Germany, U.K., France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, ASEAN, Turkey, Saudi Arabia and South Africa |
| Key Segments Covered | Component, Technology, Application, End User and Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
There are various applications associated with clinical oncology next-generation treatment market. They include whole tumor genome sequencing, whole tumour exome sequencing, targeted tumour genome profiling, tumour transcriptome sequencing, tumour-normal comparisons, and other applications.
Targeted tumor genome profiling is expected to hold a large share of the clinical oncology next-generation treatment market. On the basis of end user, the clinical oncology next-generation sequencing market has been segmented into hospital laboratories, clinical research organisations, diagnostic laboratories, and others. Clinical research laboratories are expected to hold a large revenue share in the clinical oncology next-generation sequencing market.
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Apart from the factors driving the clinical oncology next-generation sequencing market, there are few factors that are likely to hinder the overall growth of the clinical oncology next-generation sequencing market, such as high costs associated with the establishment of sequencing platforms, low quality of outsourcing services, and inadequate availability of sequencing platforms in some regional markets.
On the other hand, increasing biomedical research using clinical oncology, increasing government funding for life science projects, substantial decline in the prices of sequencing, and technological advancements in the field of sequencing are some of the major factors driving the growth of the clinical oncology next-generation sequencing market.
Tier 1 Companies Hold Nearly 3/5th Share of Global Market Value
The report tracks some of the key companies operating in the clinical oncology next-generation sequencing market such as QIAGEN N.V., Thermo Fisher Scientific., Pacific Biosciences of California, Inc., F. Hoffmann-La Roche Ltd Oxford Nanopore Technologies, Ltd., Takara Bio, Inc., Illumina Inc., PerkinElmer Inc.and Agilent Technologies, Inc. Thermo Fischer Scientific, Oxford Nanopore Technologies Ltd., and Illumina are expected to hold a signficant share of the clinical oncology next-generation sequencing market. These first tier companies hold a share of approximately 60% in the clinical oncology next-generation sequencing market.
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