U.S. Clinical Oncology Next Generation Sequencing Industry Overview
Rising adoption of NGS platforms to drive demand for data analysis services during the forecast period
Widespread application of NGS due to its reliability over conventional methods for sequencing is anticipated to provide avenues for a steady increase in adoption resulting in an enhanced market penetration into the field of medical oncology over the coming years.
Rising adoption of advanced genetic sequence analysis in various fields of clinical research due to the concurrent fall in base pair mapping costs is a high impact rendering factor in favor of stable growth. A number of cancer researchers have considered the significant importance of this technology in oncology and invested efforts for the development of bioinformatics algorithms to be utilized for cancer screening and test development. A number of oncologists believe that in the coming seven years, next-generation sequencing combined with companion diagnostics can be expected to play a major role in personalized diagnostics and therapeutics and thus significant increase in demand for application of these platforms in the field can be anticipated to revolutionize the market.
Gather more insights about the market drivers, restrains and growth of the Global U.S. Clinical Oncology Next Generation Sequencing market
NGS enabled cataloging of the genomic landscape of thousands of oncogenes is anticipated to facilitate investigation of the underlying pathway behind the diseases. Furthermore, ongoing technological advancement of in silico algorithms is likely to influence the growth in market revenue. For instance, the introduction of workflow management systems solutions like Galaxy and Chipster that offer data analysis methods, are expected to further drive demand in this sector.
Strategic initiatives undertaken by the U.S. government for R&D in oncology are also projected to drive growth. Grants and loans have also been provided by the U.S government and funding bodies to narrow down the gap between genomic sequence analysis platform development and their implementation in oncology research. Furthermore, cancer-associated expenditures are anticipated to rise significantly thereby influencing the adoption of second-generation sequencing platforms for the purpose of diagnostic monitoring and theranostics applications. The most significant bottleneck in the workflow of this technology includes time-consuming interpretation of data generated in abundant amounts once the genome is sequenced, which offers innumerable opportunities for commercial service providers to develop feasible solutions with faster turnaround times.
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- Cancer Immunotherapy Market – The global cancer immunotherapy market size was valued at USD 58.1 Billion in 2018. Growing adoption of advanced cancer therapeutic options coupled with rising cancer incidence has been one of the primary growth stimulants for the market. Healthcare providers are focusing on improving cancer therapeutic facilities and a reduction in the recurrence rate of tumor post chemotherapy.
- Oncology Devices Market – The global oncology devices market is expected to grow during the forecast period owing to the increasing prevalence of cancer globally and the healthcare expenditure level of the patients. According to W.H.O, cancer accounted for approximately 8.2 million deaths worldwide in 2013. However, stringency in regulatory policies related to medical devices is expected to impede the growth of the market.
U.S. Clinical Oncology Next Generation Sequencing Market Segmentation
Grand View Research has segmented the global U.S. clinical oncology next generation sequencing market based on technology, workflow and end use:
- S. Clinical Oncology NGS Outlook, by Technology (Revenue, USD Million, 2013 – 2024)
- Targeted Sequencing & Resequencing
- Whole Exon Sequencing
- Whole Genome Sequencing
- 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
- S. Clinical Oncology NGS Outlook, by End Use (Revenue, USD Million, 2013 – 2024)
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharma & Biotech Entities
- Other Users
Market Share Insights
- 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.
- 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 the growth of the company in near future.
Key Companies profiled:
Some prominent players in the global U.S. clinical oncology next generation sequencing market include
- Illumina Inc.
- Roche
- Agilent Technologies
- Knome Inc.
- 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, Inc
- Pacific Bioscience, Inc
- Partek, Inc
- GnuBIO
- Foundation Medicine
- Paradigm
- Caris Life Sciences
- Myriad Genetics.
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