Clinical Oncology Next-Generation Sequencing Market: Application in Targeted Tumour Genome Profiling to Emerge Profitable
Future Market Insights recently published a well-curated market research report that offers significant insights pertaining to the prospects of the global clinical oncology next-generation sequencing market during the forecast period, 2019-2029. The report touches upon the various parameters that are projected to influence the overall scenario of the market including the current & potential market trends, growth opportunities, factors that could potentially hinder market growth, and various advances in technology among others. According to the published study, the market value of the clinical oncology next-generation sequencing market was around US$ 220 million in 2018 and the market is expected to grow at a compounded annual growth rate (CAGR) of ~17% over the forecast period, 2019-2029.
The report suggests that the market growth can be attributed to a range of factors including, rise in the number of cancer cases worldwide, significant advances in next-generation sequencing technology, continual government funding for life science projects, and declining prices of sequencing processes among others. Further, the overall development of the healthcare infrastructure in the various regions of the world has resulted in the significant rise in demand for next-generation sequencing technology in recent years and the trend is expected to continue over the forecast period.
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Growing government investment for life science projects expected to boost the market growth
Government funding towards the development of healthcare infrastructure plays a vital role in fast-tracking the penetration of new technologies and treatments. In recent times, government investment towards life science research and development has witnessed considerable growth – a factor that is providing an impetus to the overall adoption of next-generation sequencing in clinical oncology. In addition, market players operating in the current market landscape are increasing focus on integrating innovative technologies to enhance the overall efficiency of next-generation sequencing. In addition, market players are also leaning towards collaborations and partnerships to expand their product offerings and establish a strong presence within the current market landscape.
North America and Europe likely to present significant growth opportunities
According to the analyst at Future Market Insights, “North America and Europe are expected to be the most prominent regions in terms of market share and size over the forecast period due to a range of factors including, advances in technology and presence of a robust healthcare infrastructure among others.” Further, an overall increase in healthcare awareness in the aforementioned regions is likely to play a key role in the development of the clinical oncology next-generation sequencing market in the upcoming years.
Clinical Oncology Next Generation Sequencing Market: Research Scope
Clinical Oncology Next Generation Sequencing Market, by Product & Services
- Sequencing platform
- Kits & Reagents
Clinical Oncology Next Generation Sequencing Market, by Technology
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
Clinical Oncology Next Generation Sequencing Market, by Application
- Sporadic Cancer
- Inherited cancer
- Companion Diagnostics
- Other Diagnostics
Clinical Oncology Next Generation Sequencing Market, by End-user
- Hospital Laboratories
- Clinical Research Organization
- Pharma & Biotech Companies
- Diagnostic Laboratories
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Clinical oncology Next-generation Sequencing Market: Vendor Analysis The report offers resourceful insights related to the major market players operating within the clinical oncology next-generation sequencing market such as the market share, size, revenue growth, pricing analysis, growth strategies, sales footprint, recent expansions, and more. The leading market players operating in the current market landscape are, Illumina, Inc., Oxford Nanopore Technologies, PerkinElmer, Inc., Takara Bio, Inc, Creative-Biolabs, Pacific Biosciences of California, Inc., BGI Group, and Becton, Dickinson and Company among others