Clinical Oncology Next Generation Sequencing Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030

The global clinical oncology next generation sequencing market size is expected to surpass around USD 935 million by 2030 and is anticipated to grow at a CAGR of 15.8% during forecast period 2022 to 2030.

Report Highlights

• North America dominated the global clinical oncology NGS market with a share of more than 50%.
• By Technology, the targeted sequencing & resequencing segment dominated the market with a revenue share of over 73% in 2021.
• By Workflow, the Sequencing was the highest revenue-generating workflow segment in 2021 and accounted for a revenue share of over 55%.
• By application, Screening accounted for the largest revenue share of over 79%
• By End User, the laboratories segment led the market with a revenue share of over 66% in 2021.

Growth Factors

growth avenues for the market. NGS serves as one of the highly advanced genomic techniques for the analysis of mutations that lead to cancer progression.

The growth of the market is supplemented by a decrease in the cost of genetic sequencing, advancements in the field of personalized medicine and oncology, rise in prevalence of cancer, globally, and an increase in the adoption of this technique over single-gene testing. Since this technique is more reliable than Sanger sequencing for diagnosis, the market is expected to witness substantial growth over the forecast period.

Breakthrough advancements in the development of genetic-based tests for oncology and other disorders during the past few years have significantly propelled market growth. Next generation sequencing technology offers a better understanding of tumor mechanism, thus enabling rational drug design. As a result, more products are expected to get commercialized in the near future.

Market Trends

Technological advances in next generation sequencing along with increasing adoption of personalized medicine and companion diagnostics is anticipated to drive the market growth. In addition, increasing the usefulness of NGS for liquid biopsy is expected to contribute to revenue generation in the market. This technology is used to sequence circulating tumor DNA for liquid biopsy sample analysis. This leads to effective profiling of cancers, which in turn, enables non-invasive, real-time monitoring of cancer.

Furthermore, growing market competitiveness and increasing research & development activities to develop solutions could potentially fuel the market progression. For instance, in May 2022, Berry Oncology launched HIFI System, an innovative self-iterative liquid biopsy technology. This technology could further help in early screening for cancer and providing timely treatment to the patients.

Next-generation technology enables time and cost-effective sequencing of cancerous DNA, which has revolutionized research on cancer treatment. The broad application of NGS integrated with bioinformatics tools, promises to transform cancer diagnosis, research, and therapy. An increase in the clinical application of NGS in precision oncology is driving the efforts of major companies to develop new platforms that could be used for genomic assays.

NGS has been the most advanced technology and has rapidly evolved to the point where various genomes can be simultaneously sequenced in a single instrument. Adoption of NGS technology especially in the cancer field considering the genetic aspects of the disease is expected to positively impact the market growth. Moreover, the NGS is now reaching the point where many laboratories are contemplating its routine diagnostic use. Its speed, sensitivity, and reduced cost per sample are some of the factors that are contributing to the higher adoption of NGS technology for research purposes.

Sequencing helps to find the proper treatment for cancer patients with current mutations and targeting mutations. However, in oncology, WGS is still not widely implemented owing to the ambiguities such as required expertise, infrastructure, reimbursement and costs, and unknown cancer clinical utility. These factors may hamper the market’s growth in the coming years.

NGS-based testing technologies have the potential to be novel tools for clinical genomics and personalized medicine implementation. However, the presence of huge uncertainty about future health plan coverage policies for genomics and their application to speed up the development of this testing is causing growth to be slowed to some extent. In addition, the lack of consistent coverage and reimbursement regulations for new genomic techniques are also anticipated to restrict market growth by certain extent.

Technology Insights

The targeted sequencing & resequencing segment dominated the market with a revenue share of over 73% in 2021. Targeted cancer sequencing panels help reduce the cost, time, and amount of data analyzed during the sequencing of tumor samples. Moreover, the efficiency of targeted panels to detect malignant tumors increases their clinical utility. According to a study published in JCO Precision Oncology, 2020, NGS panels are clinically useful in 64% of cancer cases.

In addition, the rise in development and adoption of targeted panels that focus on tumor‐associated microorganisms and oncology‐related genes drives the segment growth. The 523-gene panel offered by Illumina includes all the possible genes that have the potential to cause the development of malignant tumors. The product is adopted by clinical laboratories to diagnose patients suffering from acute myeloid leukemia.

Whole-Genome Sequencing (WGS) is projected to be the fastest-growing technology segment from 2021 to 2030 owing to the utility of this technology to differentiate and compare normal tissues from tumor tissues. Moreover, whole-genome sequencing of cancer patients helps in finding treatments for current mutations and also helps in targeting mutations in advance. This also helps analyze cancer prognosis and develop a treatment regimen based on the affected genes.

Workflow Insights

Sequencing was the highest revenue-generating workflow segment in 2021 and accounted for a revenue share of over 55%. Sequencing involves the use of advanced platforms and is a vital step of the entire workflow. An increase in the number of cancer sequencing projects also augments the segment growth. For instance, the Pan-Cancer Analysis of Whole Genomes (PCAWG) Consortium analyzed 38 different cancer types by sequencing more than 2,600 tumor samples.

Efforts taken by key players to reduce the cost of NGS library preparation propels the pre-sequencing segment. For instance, in January 2021, Thermo Fisher Scientific signed a co-marketing initiative with SPT Labtech to reduce the cost of NGS library preparation for variant detection of cancer, infectious diseases, and other clinical conditions.

NGS data analysis is anticipated to grow at a significant rate. Efforts taken by key market participants to develop advanced computational tools propels the segment growth. For instance, in January 2021, scientists from the MD Anderson Cancer Center developed CopyKAT, a new computational tool to differentiate between normal as well as cancer cells in a tumor.

Application Insights

Screening accounted for the largest revenue share of over 79% as NGS is highly employed in cancer screening programs across the globe. Currently, NGS-based testing is considered the most efficient method of identification of genetic alterations that can be targeted for clinical benefit in cancer patients. This technology allows clinicians to simultaneously assess multiple gene alterations.

In addition, the technology requires fewer tumor tissues as compared to other pathology techniques. The companion diagnostics segment is projected to register the fastest CAGR from 2021 to 2030. Continuous product developments and collaborations & partnerships among the key players are expected to boost the adoption of NGS for companion diagnostics.

For instance, in February 2020, Resolution Bioscience, Inc. formed an agreement with LabCorp to increase the access of its Resolution ctDx Lung assay to clinicians and patients. This diagnostic assay is an accurate, fast, and noninvasive test that detects the actionable mutations in Non-Small Cell Lung Cancer (NSCLC). The assay is powered by the company’s cell-free DNA platform, which involves NGS biochemistry and cloud-based bioinformatics.

End-use Insights

The laboratories segment led the market with a revenue share of over 66% in 2021. It is a time-consuming procedure for laboratories to set up complex workflows. Therefore, most of the advanced laboratories have developed pre-existing workflows that are based upon standard procedures.

In addition, with the tremendous development and release of NGS assays for clinical purposes, specific guidelines have been developed for procedures utilizing NGS testing. Therefore, most of the FDA-approved tests come with established controls, standards, and performance characteristics to demonstrate the validity of the results.

Clinical laboratories are regulated by several governing bodies in the U.S. The CMSs regulate laboratory testing through Clinical Laboratory Improvement Amendments (CLIA). In addition, these are further governed by state-level bodies that may have stringent regulations than CLIA. Moreover, other organizations, such as the Association of Molecular Pathology (AMP), American College of Medical Genetics and Genomics (ACMG), and College of American Pathologists (CAP), have further set the best guidelines for clinical laboratories.

Regional Insights

North America dominated the global clinical oncology NGS market with a share of more than 50%. Significant efforts taken by regulatory bodies to increase cancer screening diagnosis in the U.S. account for this growth. For instance, The Cancer Genome Atlas program initiated by the U.S. National Cancer Institute (NCI) has performed next-generation sequencing of more than 20,000 primary cancer samples from 33 different types of cancers.

The U.S. clinical oncology next-generation sequencing market is driven by the growing adoption of sequencing platforms for clinical diagnosis as a consequence of the significant reduction in the cost of installation. Furthermore, the easy availability of genomic and proteomic data has poised this market to display possibly high-value opportunities for growth in the coming years.

China has witnessed significant growth in recent years owing to the huge reduction in the sequencing cost when compared to the previous years. The major players in the country offer NGS products and services at a highly competitive price when compared to other countries. Favorable government policies along with high investment by key market players are driving the growth of the market.

Key Players

Agilent; Thermo Fisher Scientific; Myriad Genetics; Beijing Genomics Institute (BGI); Perkin Elmer, Inc.; Qiagen NV; Partek, Inc.; Pacific Bioscience, Inc.; Foundation Medicine; Oxford Nanopore Technologies Ltd.; Paradigm Diagnostics, Inc.; Caris Life Sciences; Eurofins Scientific

Market Segmentation

• Technology Outlook 

  • Whole Genome Sequencing

  • Whole Exome Sequencing

  • Targeted Sequencing & Resequencing

• Workflow Outlook 

  • NGS Pre-Sequencing

  • NGS Sequencing

  • NGS Data Analysis

• Application Outlook 

  • Screening

    • Sporadic Cancer

    • Inherited Cancer

  • Companion Diagnostics

  • Others

• End-use Outlook 

  • Hospitals

  • Clinics

  • Laboratories

• Regional Outlook 

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa

The Clinical Oncology Next Generation Sequencing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Clinical Oncology Next Generation Sequencing market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Clinical Oncology Next Generation Sequencing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Clinical Oncology Next Generation Sequencing market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Clinical Oncology Next Generation Sequencing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Clinical Oncology Next Generation Sequencing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Clinical Oncology Next Generation Sequencing by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Clinical Oncology Next Generation Sequencing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Clinical Oncology Next Generation Sequencing market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Clinical Oncology Next Generation Sequencing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Clinical Oncology Next Generation Sequencing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Clinical Oncology Next Generation Sequencing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Clinical Oncology Next Generation Sequencing market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Clinical Oncology Next Generation Sequencing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Clinical Oncology Next Generation Sequencing market. These factors have benefited the growth of the global market for Clinical Oncology Next Generation Sequencing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Clinical Oncology Next Generation Sequencing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Clinical Oncology Next Generation Sequencing are as follows:

• Historic Year: 2017-2020
• Base Year: 2020
• Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.