U.S. clinical oncology next generation sequencing market is anticipated to reach USD 1.53 billion by 2024, according to a new report by Grand View Research, Inc. Application of NGS platform for clinical oncology are expected to grow at a steady pace under the influence of increasing adoption of NGS platforms in oncology R&D coupled with rising incidents of cancer.
Application of NGS based cancer diagnostics for screening and monitoring of oncogenes to understand the underlying mechanism behind causes of cancer is expected to boost growth of this vertical throughout the forecast period.
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Moreover, exponentially decreasing costs for sequencing have also spurred the demand for NGS platform in clinical oncology research as whole genome analysis has become affordable even by the smaller R&D entities. In addition, high competition amongst prominent market players to enhance their share in the market is also expected to translate into increased revenues generated by these companies as a result.
U.S. clinical oncology NGS market, 2013 – 2024 (USD Million)
Further key findings from the study suggest:
- Out of the different technologies offered by NGS platforms, targeted sequencing & resequencing accounted for the largest share owing to the fact that it enables study of changes in diseases at molecular level, & analyze the underlying modifications in the genetic sequence to investigate epigenomics of cancer, thus enhancing demand for more advancement in targeted sequencing tools.
- Workflow associated with genomic sequencing is expected to witness lucrative progress as a result of variation in platforms provided by prominent market players with respect to amount of DNA sequenced per cycle, read length, and runtime. Furthermore, data analysis of raw sequence data thus obtained, is the most critical step in the workflow of NGS, and is thus anticipated to experience immense growth in coming years as a consequence of abundance of data generated post sequencing.
- Adoption of high throughput sequencing platform by clinical sector is observed to be more promising for NGS based oncology research market as a consequence of usage of NGS in cancer research and more specifically in discovery of new cancer related genes, tumor heterogeneity, and identification of alterations that are contributive in tumorogenesis
- Key players operating in this industry include Illumina Inc., Roche, Agilent Technologies, Knome Incorporated. Genomatix Software GmbH, GATC Biotech Ag, Oxford Nanopore Technologies Ltd, Macrogen Inc., Life technologies Corp, DNASTAR Inc, Exosome Diagnostics, Biomatters Ltd, CLC Bio, BGI, Qiagen NV, Perkin Elmer, Incorporated, Pacific Bioscience, Inc, Partek, Inc, GnuBIO, Foundation Medicine, Paradigm, Caris Life Sciences and Myriad Genetics and they are actively engaged in manufacturing and commercialization of innovative bioinformatics algorithms as demonstrated by the increasingly growing number of partnerships between prominent players and emerging players.
- For instance, In February 2016, Thermo Fisher collaborated with Invivoscribe Technologies, Inc for the development of NGS based, in vitro diagnostic (IVD) oncology tests on Ion PGM Dx System which is further anticipated to accelerate growth of the company in near future. Similarly, in June 2016, Thermo Fisher supported enhancement and commercialization of clinical research assay and in vitro diagnostics using NGS technology launched the Ion Torrent Developers Alliance Program.
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Grand View Research has segmented U.S. clinical oncology NGS market on the basis of technology, workflow, and end-use:
U.S. Clinical Oncology NGS Outlook, by Technology (Revenue, USD Million, 2013 – 2024)
- Targeted Sequencing & Resequencing
- Whole Exon Sequencing
- Whole Genome Sequencing
U.S. Clinical Oncology NGS Outlook, by Workflow (Revenue, USD Million, 2013 – 2024)
- NGS Sequencing
- NGS Pre-Sequencing
- NGS Data Analysis
- NGS Tertiary Data Analysis
- NGS Secondary Data Analysis
- NGS Primary Data Analysis
U.S. Clinical Oncology NGS Outlook, by End Use (Revenue, USD Million, 2013 – 2024)
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharma & Biotech Entities
- Other Users
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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