Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) — The “U.S. Clinical Oncology Next Generation Sequencing Market Size, Share & Trends Analysis Report By Workflow (NGS Pre-sequencing, NGS Sequencing, NGS Data Analysis), By Technology, By Application, By End-use, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The U.S. clinical oncology next generation sequencing market is expected to reach USD 500.4 million by 2030 and is expected to expand at a CAGR of 15.1% from 2023 to 2030
The market is expected to increase at a significant rate during the forecast period from 2023 to 2030 owing to the increasing competition among the industry players, technological advances in the field and decreasing costs for genetic sequencing.
The increasing market competition and the launch of innovative solutions based on next generation sequencing in the oncology field are expected to fuel market growth over the forecast period. For instance, in February 2023, Exact Sciences Corp., a cancer screening and diagnostic testing company, introduced the therapy selection test -OncoExTra in the U.S. It is a next-generation sequencing-based genomic test to help in cancer care.
It helps in understanding and characterizing cancer tumors. Moreover, to gain a competitive edge in the industry, companies are collaborating and focusing on advancing in the next generation sequencing. For instance, in January 2020, the two key players operating in the market, Illumina, Inc and F. Hoffmann-La Roche Ltd, signed a 15-year agreement to discover NGS’s potential to transform cancer detection, diagnosis, risk prediction, treatment, and monitoring.
Moreover, various articles and studies are being published on the use of NGS in oncology and cancer treatments. For instance, in June 2023, the Lancet published an article on real-world outcomes and the usefulness of NGS testing in cancer patients. Furthermore, in June 2023, the American Society Of Clinical Oncology published a study on the clinical impact of NGS tests for managing advanced cancer in the U.S. Such studies help researchers and clinicians increase awareness and knowledge about the use of NGS for cancer treatments.
Furthermore, the growth of the clinical oncology next-generation sequencing market during the forecast period is expected to witness growth due to reduced sequencing costs. The costs of NGS can be reduced by increasing parallel sequencing and running multiple flow cells to increase sequencing capacity without raising the costs associated with it. These factors are anticipated to boost the market demand over the forecast period in the U.S.
U.S. Clinical Oncology Next Generation Sequencing Market Report Highlights
- NGS sequencing accounted for the largest revenue share of 55.6% in 2022 based on the workflow segment. The dominance of the segments is due to the increasing number of cancer sequencing projects and technological advances in the field.
- Based on the technology, targeted sequencing & resequencing dominated the market with a revenue share of 72.9% in 2022. This can be attributed to the rising use of targeted panels and their efficiency in identifying cancer tumors.
- Based on the application, the screening segment dominated the U.S. clinical oncology NGS market with a revenue share of 80.6% in 2022, owing to the growing prevalence of cancer disorder across the country.
- Based on the end-use, the laboratories segment accounted for the largest share of 64.4% in the U.S. clinical oncology NGS market in 2022. This dominance of the segment is due to the rising research and development activities for cancer treatment.
Companies Mentioned
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- F. Hoffmann-La Roche Ltd
- Agilent Technologies, Inc.
- Myriad Genetics, Inc.
- Beijing Genomics Institute (BGI)
- QIAGEN
- Perkin Elmer, Inc.
- PacBio
- Oxford Nanopore Technologies
- PerkinElmer Inc
- Macrogen, Inc
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $165.7 Million |
| Forecasted Market Value (USD) by 2030 | $500.4 Million |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | United States |
Key Topics Covered:
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
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. Reduction in costs for genetic sequencing
3.2.1.2. Advances in the field of personalized medicine
3.2.1.3. Increase in prevalence of cancer
3.2.2. Market Restraint Analysis
3.2.2.1. Lack of computational efficiency for data management
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. COVID-19 Impact Analysis
Chapter 4. U.S. Clinical Oncology Next Generation Sequencing Market Categorization: Technology Estimates & Trend Analysis
4.1. U.S. clinical Oncology NGS Market: Technology Movement Analysis
4.2. U.S. clinical Oncology NGS Market Estimates & Forecast, By Technology (USD Million)
4.3. Whole Genome Sequencing
4.4. Whole Exome Sequencing
4.5. Targeted Sequencing & Resequencing
Chapter 5. U.S. Clinical Oncology Next Generation Sequencing Market Categorization: Workflow Estimates & Trend Analysis
5.1. U.S. clinical Oncology NGS Market: Workflow Movement Analysis
5.2. U.S. clinical Oncology NGS Market Estimates & Forecast, By Workflow (USD Million)
5.3. 5 NGS Pre-Sequencing
5.4. NGS Sequencing
5.5. NGS Data Analysis
Chapter 6. U.S. Clinical Oncology Next Generation Sequencing Market Categorization: Application Estimates & Trend Analysis
6.1. U.S. clinical Oncology NGS Market: Application Movement Analysis
6.2. U.S. clinical Oncology NGS Market Estimates & Forecast, By End-User (USD Million)
6.3. Screening
6.3.1. Screening U.S. clinical Oncology NGS Market, 2018 – 2030 (USD Million)
6.3.2. Sporadic Cancer
6.3.3. Inherited cancer
6.4. Companion Diagnostics
Chapter 7. U.S. Clinical Oncology Next Generation Sequencing Market Categorization: End Use Estimates & Trend Analysis
7.1. U.S. clinical Oncology NGS Market: End Use Movement Analysis
7.2. U.S. clinical Oncology NGS Market Estimates & Forecast, By End-User (USD Million)
7.3. Hospitals
7.4. Clinics
7.5. Laboratories
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Strategy Mapping
8.3. Company Profiles/Listing
For more information about this report visit https://www.researchandmarkets.com/r/l4hla9
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