Clinical Oncology Next Generation Sequencing Market Analysis And Forecast
Posted by Neha Bora on April 27th, 2021
San Francisco, 27 April 2021: The Report Clinical Oncology Next Generation Sequencing Market Size, Share & Trends Analysis Report By Workflow, By Technology (WGS, WES), By Application (Screening, Companion Diagnostics), By End-use, And Segment Forecasts, 2021 - 2028
The global clinical oncology next generation sequencing market size is expected to reach USD 892.61 million by 2028 registering a CAGR of 14.70%, according to a new report by Grand View Research, Inc. Technological advancements in next-generation sequencing coupled with high adoption of companion diagnostics and personalized medicine drive the global market growth.
In addition, a rise in the utility of next generation sequencing (NGS) for liquid biopsy is expected to increase revenue generation in the market. NGS is employed to sequence circulating tumor DNA (ctDNA) for the analysis of liquid biopsy samples. This leads to efficient molecular profiling of tumors, which, in turn, facilitates real-time, non-invasive monitoring of tumors.
Moreover, a rise in market competitiveness, growth in oncology diagnostics spending, and increasing research activities to develop solutions that can potentially be used for clinical oncology drive market progression. For instance, in January 2021, Spectrum Solutions, LLC collaborated with the UCLA School of Dentistry on saliva-based NGS liquid biopsy research, which would be used for early diagnosis of Non-Small Cell Lung Cancer (NSCLC).
North America dominated the global market in 2020 owing to multiple initiatives taken by various government bodies in the region to screen and prevent cancer, such as Cancer Prevention and Control Research Network, a flagship program by the CDC. Asia Pacific is projected to be the fastest-growing regional market over the forecast period owing to continuous reforms in the pharmaceutical and life sciences industries in the region.
Key players in this market have undertaken strategic alliances to strengthen their market position. For example, in March 2020, Thermo Fisher Scientific signed an agreement with Janssen Biotech, Inc. for the development of CDx for tumor management. Under the agreement, Janssen Research & Development, LLC would validate multiple biomarkers to be used with Thermo Fisher's Oncomine Dx target test for identification of patients with NSCLC
Access Research Report of Clinical Oncology Next Generation Sequencing Market @ https://www.grandviewresearch.com/industry-analysis/clinical-oncology-next-generation-sequencing-ngs-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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