Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "Clinical Oncology Next Generation Sequencing Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global market for clinical oncology next generation sequencing, a crucial technological field in cancer research and diagnostics, is set to witness a substantial growth rate, according to a new market research report now available. Highlighted within the report are key insights and projections pointing towards a significant expansion from $0.45 billion in 2023 to $0.86 billion by 2028, following a compound annual growth rate (CAGR) of 13.2%.
In the wake of increasing cancer prevalence worldwide and technological advancements,/b the market is poised to accommodate the rising demand for precision medicine and comprehensive genomic profiling (CGP). These approaches have proven essential in understanding and managing various types of cancer through more tailored treatments. The expansive growth is also catalyzed by regulatory approvals and the rising incorporation of artificial intelligence (AI) and machine learning in oncology research.
A significant contribution to this growth is the rising incidence of critical types of cancer, such as lung, breast, prostate, and colorectal, which constitute a major portion of new cancer cases globally. The intensified need for early detection and personalized treatment plans is a key driver of the growth, reinforcing the importance of next generation sequencing in the clinical setting.
Various technologies within the clinical oncology NGS landscape, like ion semiconductor sequencing, pyro-sequencing, synthesis sequencing, and others, are among the focal points of this report. The applications span across screening, companion diagnostics, and other diagnostic procedures, employed by hospitals, clinical research organizations, and diagnostic laboratories across the globe.
Technological Innovations and Corporate Acquisitions Shaping Market Dynamics
The report sheds light on the strategic steps taken by industry giants, including the launch of cutting-edge products and strategic acquisitions to solidify market presence. The integration of automated systems, designed to deliver high precision while diminishing variability in sequencing, signifies a trend towards workflow optimization.
- Investments in automation and digital medical solutions for enhanced DNA sequencing.
- Innovative staining platforms to achieve speedy and accurate diagnostic results.
- Acquisitions that expand capabilities and reach in cancer diagnostics.
While North America leads the market share, largely due to its developed healthcare infrastructure and emphasis on research, Asia-Pacific regions are also witnessing significant growth, fueled by increased healthcare spending and awareness of cancer implications.
Insights detailed in this market research document are foundational for understanding the current landscape and future outlook of the clinical oncology next generation sequencing market. The data within illustrates the market's global sphere, regional shares, and the competitive environment, providing a comprehensive view of the trends, challenges, and opportunities that businesses, healthcare providers, and stakeholders in the field may encounter.
A selection of companies mentioned in this report includes
- Thermo Fisher Scientific
- Oxford Nanopore Technologies Ltd.
- QIAGEN N.V.
- Myriad Genetics Inc.
- Illumina Inc.
- F. Hoffmann-La Roche Ltd.
- PerkinElmer Inc.
- Agilent Technologies Inc.
- Pacific Biosciences of California Inc.
- Caris Life Sciences
- Paradigm Diagnostics
- GATC Biotech AG
- Macrogen Inc.
- DNASTAR Inc.
- Exosome Diagnostics Inc.
- Biomatters Ltd.
- Partek Inc.
- Foundation Medicine Inc.
- Becton Dickinson and Company (BD)
- Takara Bio Inc.
- Creative Biolabs
- Mogene LC
- Knome Inc.
- Genomatix Software GmbH
- CLC bio
- GnuBIO Inc.
- Bio-Rad Laboratories Inc.
- BGI Genomics Co. Ltd.
- Guardant Health Inc.
- Invitae Corporation
- Natera Inc.
- NeoGenomics Laboratories Inc.
- Sysmex Corporation
- Veracyte Inc.
- Zymo Research Corporation
- ArcherDX Inc.
- Cepheid
- Karius Inc.
- OncoDNA S.A.
- Personal Genome Diagnostics Inc.
- PierianDx Inc.
For more information about this report visit https://www.researchandmarkets.com/r/9l6mz2
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