Press release
Global Clinical Oncology Next Generation Sequencing Market Set to Surpass USD 1611.3 Million by 2032, Fueled by Rising Awareness of Personalized Medicine
The global Clinical Oncology Next Generation Sequencing (NGS) market, which was valued at USD 419.6 million in 2023, is projected to reach USD 1611.3 million by 2032. This indicates robust growth at a compounded annual growth rate (CAGR) of 15.7% during 2024-2032. Market expansion is largely driven by a growing awareness of personalized medicine, a keen focus of the healthcare industry towards the benefits it presents.Next generation sequencing (NGS) in clinical oncology plays a pivotal role in understanding genetic mutations and finding a correlation with various types of cancer. The main objective of this technology is to formulate tailor-made treatment plans for enhancing patient outcomes. Its application is symptomatic of a wider global trend towards personalised medicine, and most significantly, the increasing demand for advanced diagnostic methods.
The NGS technology is increasing in popularity as physicians, researchers, and healthcare systems collectively strive to predict, manage, and cure cancer more effectively. Moreover, the use of advanced diagnostic procedures like NGS is expected to become even more widespread, especially as health systems worldwide see the potential benefits of customizing care. This trend is a testament to the rising emphasis on precision, efficiency, and patient-centered care in clinical oncology practices, illustrating the immense market potential for next generation sequencing in the foreseeable future
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/91275
๐๐ก๐ข๐ฌ ๐ข๐ฌ ๐จ๐ง๐ ๐จ๐ ๐ญ๐ก๐ ๐ฆ๐จ๐ฌ๐ญ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ง๐ ๐๐จ๐ฏ๐๐ซ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ๐ฌ:
The clinical oncology next generation sequencing (NGS) market has been segmented on the basis of๐๐จ๐ซ๐ค๐๐ฅ๐จ๐ฐ
โ NGS Pre-Sequencing
โ NGS Sequencing
โ NGS Data Analysis
๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ
โ Whole Genome Sequencing
โ Whole Exome Sequencing
โ Targeted Sequencing & Resequencing
๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
โ Companion Diagnostics
โ Screening
โ Inherited Cancer
โ Sporadic Cancer
โ Others
๐๐ง๐-๐ฎ๐ฌ๐๐ซ
โ Hospitals
โ Laboratories
โ Clinics
๐๐๐ ๐ข๐จ๐ง
โ Asia Pacific
โ North America
โ Latin America
โ Europe
โ Middle East & Africa
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
โ ๐๐ ๐ข๐ฅ๐๐ง๐ญ ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐ฌ, ๐๐ง๐.
โ BGI
โ Caris Life Sciences
โ Eurofins Scientific
โ ๐ . ๐๐จ๐๐๐ฆ๐๐ง๐ง-๐๐ ๐๐จ๐๐ก๐ ๐๐ญ๐
โ FOUNDATION MEDICINE, INC.
โ Illumina, Inc.
โ Myriad Genetics, Inc.
โ Oxford Nanopore Technologies plc.
โ PacBio
โ Paradigm Diagnostics, Inc.
โ PerkinElmer Inc.
โ QIAGEN
โ Thermo Fisher Scientific Inc.
In terms of segment analysis, the clinical oncology next generation sequencing (NGS) market is divided based on workflow, technology, application, and end-user. The workflow is subdivided into pre-sequencing, sequencing, and data handling processes. The increasingly complex nature of cancer and other genetic diseases has shed light on the importance of detailed genomic information, necessitating the NGS workflow. As for the technology aspect, it's split into whole genome sequencing, whole exome sequencing, and targeted sequencing & resequencing. The usage of these technologies in the NGS process consequently advances the accuracy and speed of cancer diagnosis, allowing for more effective clinical decision making.
Various applications such as companion diagnostics, screening, inherited cancer, sporadic cancer among others are part of this market. With cancer being a highly genetic disease, the identification of genetic modifications through NGS has improved the discovery and decision-making processes for treatment. The end-users of this market are primarily hospitals, laboratories, and clinics. The deployment of NGS in these locations enhances the identification of inherited disorders and rare diseases, providing data for potential therapies and treatments.
For the regional analysis, the clinical oncology NGS market is widespread across Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America has a significant share of the market due to the constant technological advancements, high healthcare expenditure, and increasing awareness about the advantages of early cancer detection. Europe too has substantial market growth attributed to an increase in cancer cases and a surge in the elderly population. The Asia Pacific and Latin America also have noticeable market growth due to the rising investment in healthcare infrastructure, increasing incidence of cancer, and growing awareness of early diagnosis. Lastly, the Middle East & Africa market is growing as governmental and non-governmental organizations are increasingly investing in healthcare infrastructure and raising understanding around cancer
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐๐ซ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/91275
Market Drivers for Clinical Oncology Next Generation Sequicng (NGS) Market:
1. Increasing Incidence of Cancer: The global cancer burden is increasing rapidly which necessitates more advanced and efficient diagnosis and treatment methods. NGS has shown potential in both early and precise detection of various types of cancers.
2. Technological Advancements: With the advent of newer technologies, the accuracy and speed of next-generation sequencing have improved significantly. This, in turn, drives its adoption in clinical oncology.
3. Growing Adoption of Personalized Medicine: NGS plays a crucial role in the development of personalized treatment plans as it helps in understanding the genetic makeup of the patient. The growing adoption of personalized medicine is a major driver for the growth of NGS market in clinical oncology.
4. Increasing R&D Activities: Increasing research and developments in the field of cancer genomics are also driving the adoption of NGS platforms in oncology.
Opportunities:
1. Emerging Markets: Developing countries with growing healthcare infrastructures present lucrative opportunities for the expansion of clinical oncology NGS market.
2. Liquid Biopsy Applications: Next-generation sequencing in combination with liquid biopsy offers a non-invasive method for the detection and monitoring of various types of cancers.
3. Integration of Artificial Intelligence: Integration of AI and machine learning technologies in NGS can create opportunities for better interpretation and understanding of complex genetic data.
4. Government Initiatives and Funding: Several governments across the globe are investing in genomics research, providing ample opportunities for the growth and development of the NGS market in clinical oncology.
5. Expansion in clinical applications: Growing evidence of the utility of NGS-based testing across multiple cancer types, stages, and settings will expand the market opportunity
๐๐จ๐ฎ ๐๐๐ง ๐๐ข๐ซ๐๐๐ญ๐ฅ๐ฒ ๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ซ๐จ๐ฆ: https://dataintelo.com/checkout/91275
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