Dublin, Nov. 27, 2024 (GLOBE NEWSWIRE) -- The "Next Generation Cancer Diagnostics - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Next Generation Cancer Diagnostics was estimated at US$16.6 Billion in 2023 and is projected to reach US$64.6 Billion by 2030, growing at a CAGR of 21.4% from 2023 to 2030.
The growth in the Next Generation Cancer Diagnostics market is driven by several factors, including the increasing prevalence of cancer, which has heightened the demand for more effective screening and diagnostic tools. The shift toward personalized medicine, driven by advancements in genomics and proteomics, has further fueled the adoption of NGCDs.
The rapid development of liquid biopsy technologies, coupled with improvements in NGS platforms, has enhanced diagnostic accuracy, making NGCDs indispensable in modern oncology. Regulatory approvals and government funding for cancer research and diagnostic innovation are also contributing to market growth. Additionally, the growing awareness of early cancer detection and the expansion of genetic testing services have increased the demand for NGCDs across healthcare sectors.
How Are Next Generation Cancer Diagnostics Revolutionizing Oncology?
Next Generation Cancer Diagnostics (NGCD) represent a leap forward in the field of oncology, offering advanced tools for early detection, accurate diagnosis, and personalized treatment of various cancers. These diagnostics encompass a broad range of technologies, including liquid biopsy, genomics, proteomics, and next-generation sequencing (NGS).
Unlike traditional diagnostics, NGCDs provide detailed molecular insights, enabling oncologists to understand the genetic mutations and biomarkers that drive cancer progression. This precision enables targeted therapies, improving patient outcomes and reducing side effects. As the prevalence of cancer rises globally, NGCDs are playing a critical role in transforming cancer care by making it more personalized, faster, and more effective.
What Are The Key Segments in the Next Generation Cancer Diagnostics Market?
Key technologies include liquid biopsy, NGS, proteomics, and bioinformatics tools, with liquid biopsy and NGS gaining significant traction due to their non-invasive nature and ability to detect genetic alterations. In terms of applications, NGCDs are used in screening, diagnostic testing, and monitoring treatment response.
Screening for early-stage cancers, such as breast, lung, and colorectal cancers, is a major application segment, where early detection significantly improves survival rates. Major end-users of NGCDs include hospitals, diagnostic laboratories, and research institutes, all of which are integrating these technologies into clinical workflows to enhance precision and efficiency in cancer management.
How Are NGCD Technologies Being Integrated Across Healthcare Sectors?
Hospitals and oncology centers are integrating NGCDs into routine cancer screening and diagnostic protocols, particularly for high-risk patients and those with hereditary cancer syndromes. Diagnostic laboratories use NGCDs to perform genomic and proteomic tests that aid in identifying specific mutations and treatment options, supporting precision medicine.
Research institutes are leveraging these diagnostics to conduct clinical trials, study cancer genomics, and explore new drug targets. Pharmaceutical companies also collaborate with NGCD developers to identify biomarkers that predict drug efficacy, thereby improving drug development and accelerating clinical trials. Additionally, telehealth platforms are beginning to incorporate NGCDs for remote patient monitoring, making cancer diagnostics more accessible.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the qPCR & Multiplexing Technology segment, which is expected to reach US$28.2 Billion by 2030 with a CAGR of a 22.4%. The Next Generation Sequencing Technology segment is also set to grow at 17.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $4.7 Billion in 2023, and China, forecasted to grow at an impressive 20.7% CAGR to reach $9.9 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Next Generation Cancer Diagnostics Market such as Abbott, Agilent Technologies, Almac Group, Cepheid, F. Hoffmann-La Roche Ltd and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 89 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $16.6 Billion |
| Forecasted Market Value (USD) by 2030 | $64.6 Billion |
| Compound Annual Growth Rate | 21.4% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Next Generation Cancer Diagnostics - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for Early and Accurate Cancer Detection Spurs Growth in Next Generation Cancer Diagnostics Market
- Technological Advancements in Liquid Biopsy and Genomic Testing Strengthen Business Case for Adoption
- Growing Focus on Personalized and Precision Medicine Expands Addressable Market
- Expansion of Next Generation Diagnostics in Oncology Clinics and Hospitals Fuels Market Growth
- Increasing Adoption of Next Generation Diagnostics in Biomarker Discovery and Targeted Therapy Expands Market Opportunities
- Technological Innovations in Multi-Omics Analysis and AI-Powered Diagnostics Propel Market Expansion
- Rising Focus on Non-Invasive Testing and Monitoring Drives Demand for Next Generation Cancer Diagnostics
- Growing Use of Next Generation Diagnostics in Screening Programs and Clinical Trials Expands Market Potential
- Technological Advancements in ctDNA, CTC, and Circulating miRNA Testing Propel Market Growth
- Increasing Focus on Integrating Next Generation Cancer Diagnostics with Digital Health Platforms Drives Adoption
- Rising Demand for Companion Diagnostics in Immuno-Oncology and Targeted Therapies Strengthens Global Market
- Expansion of Next Generation Cancer Diagnostics in Rare and Pediatric Cancers Expands Market Opportunities
FOCUS ON SELECT PLAYERS:Some of the 33 companies featured in this Global Next Generation Cancer Diagnostics market report
- Abbott
- Agilent Technologies
- Almac Group
- Cepheid
- F. Hoffmann-La Roche Ltd
- GE Healthcare
- Genomic Health
- Hologic
- Illumina
- Janssen Global Services
- Koninklijke Philips N.V
- Myriad Genetics
- Novartis AG
- Opko Health
- PerkinElmer
- Qiagen
- Sysmex Corporation
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/r/nrt6h6
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