The report covers forecast and analysis for the Clinical Oncology Next Generation Sequencing market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Clinical Oncology Next Generation Sequencing market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Clinical Oncology Next Generation Sequencing market on a global level. In order to give the users of this report a comprehensive view on the Clinical Oncology Next Generation Sequencing market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein technology, workflow, application, end user and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
As genomics-focused pharmacology is beginning to play a greater role in the treatment of cancer, next-generation sequencing (NGS) is emerging as a valuable method for obtaining a deeper and more accurate look into individual tumor molecular background. With tailored therapies becoming the latest oncology standard of care, NGS-driven companion diagnostics are widely viewed as improving treatment choice to improve future patient outcomes.
The study provides a decisive view on the Clinical Oncology Next Generation Sequencing market by segmenting the market based on technology, workflow, application, end user and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on technology, the market is segmented into Whole genome sequencing, whole exome sequencing and targeted sequencing & re-sequencing. Targeted clinical oncology sequencing represented the largest share of revenue in 2018 and is expected to maintain its share over the forecast period. Targeted sequencing and resequencing is one of the conventional forms of commercially available sequencing technology and includes the shortest reading lengths. Based on workflow, the market is segmented into NGS Pre-Sequencing, NGS Sequencing and NGS Data Analysis. Sequencing was the largest share in the NGS market for clinical oncology as it is the most important and crucial step in the entire process and involves the use of sophisticated platforms. Continuous R&D has culminated in the introduction of new, benchtop and portable NGS sequencing platforms, complimenting the growth of the industry. Based on application, the market is segmented into screening, companion diagnostics and others. Adoption of NGS-based oncology molecular diagnosis has increased as this technology allows multiple target genes to be sequenced simultaneously and provides rich diagnostic markers for molecular diagnostic assays to be produced. Based on end-user, the market is segmented into Hospitals, Clinics, Laboratories and others. Laboratories held a prominent market share for NGS clinical oncology and this trend is expected to continue over the forecast period. The segment of hospitals is expected to record a significant CAGR by 2025. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa with its further bifurcation into major countries such as US, Canada, Germany, UK, France, China, Japan, India, GCC countries, Brazil. In 2018, North America occupied the largest share of the global market due to increased government focus on cancer treatment, increased healthcare expenditure, and adequate healthcare infrastructure. In addition, high cancer prevalence, increased demand for personalized medicine, well-developed healthcare facilities, and the availability of new diagnostic techniques, particularly in the area of oncology, can be attributed to the region's estimated market share.
Over the past few years, breakthrough developments in the production of genetic-based oncology testing and other diseases have accelerated market growth dramatically. Sequencing technology of the next decade offers a better understanding of the tumor function, thereby allowing a rational development of medicines. As a consequence, in the near future, more goods are likely to be sold. It is further predicted that an increase in oncology-related spending would fuel market growth in the coming years. Government organizations are focused on encouraging patients to undergo diagnostic examinations on a regular basis to reduce healthcare expenses related to oncology. Healthcare spending is expected to increase significantly, according to data projections, thus affecting the adoption of the NGS diagnostics platform.
Key players within global Clinical Oncology Next Generation Sequencing market include Agilent, Beijing Genomics Institute (BGI), Caris Life Sciences, Eurofins Scientific, Foundation Medicine, Myriad Genetics, Oxford Nanopore Technologies Ltd., Pacific Bioscience, Inc., Paradigm Diagnostics, Inc., Partek, Inc., Perkin Elmer, Inc., Qiagen NV, Thermo Fisher Scientific amongst others.
The report segments global Clinical Oncology Next Generation Sequencing market as follows:
Global Clinical Oncology Next Generation Sequencings Market: Technology Segment Analysis
Global Clinical Oncology Next Generation Sequencings Market: Workflow Segment Analysis
Global Clinical Oncology Next Generation Sequencings Market: Application Segment Analysis
Global Clinical Oncology Next Generation Sequencings Market: End User Segment Analysis
Global Clinical Oncology Next Generation Sequencing Market: Regional Segment Analysis