U.S. Clinical Oncology Next Generation Sequencing (NGS) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032

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U.S. Clinical Oncology Next Generation Sequencing (NGS) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032

Status : January, 2023 | Biotechnology

Report Digest


U.S. Clinical Oncology Next Generation Sequencing (NGS) Market: Overview

The market is estimated to grow at a CAGR of 14.70% in the forthcoming years from 2022 to 2032. The U.S. clinical oncology next generation sequencing (NGS) market has been estimated to grow with increasing clinical applications of the next-generation sequencing across precision oncology. Further, the key companies serving in the market are taking efforts to develop novel platforms that are used in genomic assays. 

The technology used in the U.S. clinical oncology next generation sequencing (NGS) market facilitates cost-effective and time-saving sequencing of tumor DNA. This initiative has brought “genomic era” in cancer treatment along with respective research. NGS (next generation sequencing) has also brought some noticeable developments in the personalized medicine for oncology. It is owing to the growing use of technology that further enables the identification of somatic mutations, germline, and resistance mechanisms. It also allows the quantification of cancer’s mutational burden. Thus, these factors have been projected to contribute to the growing use of clinical oncology next generation sequencing (NGS) in precision oncology care.

U.S. Clinical Oncology Next Generation Sequencing (NGS) Market: Key Trends

In recent years, there has been a noteworthy increase in the adoption of personalized medicine around the world. Furthermore, technological advances across next generation sequencing have also been predicted to contribute to market growth. The revenue generation opportunities in the U.S. clinical oncology next generation sequencing (NGS) market are owing to the growing use of NGS for liquid biopsy. The market technology is also used at a significant rate for the sample analysis during the biopsy procedure for sequence circulating tumor DNA. This factor is estimated to ensure effective profiling of cancer and thus enables real-time and non-invasive monitoring of cancer.

An increasing number of R & D activities and growing market competitiveness in order to develop solutions are predicted to serve as a revenue generator in the U.S. clinical oncology next generation sequencing (NGS) market.

The growing use of solutions from the U.S. clinical oncology next generation sequencing (NGS) market enables cost- and time-effective sequencing of the cancerous DNA that is further projected to revolutionize research activities against cancer treatment. In addition to this, the rising use of bioinformatics tools that are NGS integrated further ensures the transformation of cancer therapy, research, and diagnosis.

U.S. Clinical Oncology Next Generation Sequencing (NGS) Market: Competitive Dynamics and Key Developments

The players who are operating in the U.S. clinical oncology next generation sequencing (NGS) market are incorporating various strategies in order to generate novel growth opportunities. Some of these strategies include mergers & acquisitions, agreements, collaborations, portfolio expansion, and many more.

For instance, Burning Rock Biotech Limited, a provider of cancer tests in China has established a partnership with Illumina in May 2020. The motive of this partnership is the development and standardization of NGS-based cancer therapy selection within the nation. In addition to this, the company has also signed an agreement with another company named, Myriad Genetics, Inc. for the development and commercialization of myChoice tumor testing across China.

The key players serving in the U.S. clinical oncology next generation sequencing (NGS) market include:

  • Illumina, Inc.
  • Qiagen N.V.
  • Thermo Fisher Scientific
  • Eurofins Scientific S.E.
  • F. Hoffmann-La Roche Ltd.
  • Agilent Technologies
  • Paradigm Diagnostics
  • Caris Life Sciences
  • Myriad Genetics
  • Pacific Bioscience

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Frequently Asked Questions

Rising clinical use of next-generation sequencing in precision oncology is likely to contribute to growth opportunities in the market.
North America
Development of novel platforms to use in genomic assays is predicted to generate novel growth opportunities in the market.
Cost-effective and time-saving sequencing of tumor DNA through industry services is predicted to emerge as noteworthy trend in the market.
Lack of reimbursement regulations for novel genomic techniques is expected to limit growth opportunities in the U.S. clinical oncology next generation sequencing (NGS) market.