U.S. Clinical Oncology Next Generation Sequencing (NGS) Market Growth Drive due to the Increasing Investments in Personalized Treatment Plans
Next Generation Sequencing (NGS) technology has made remarkable strides in clinical settings and in oncology research. Targeted sequencing and re-sequencing offers benefits such as high throughput and lower process cost per sample. Recent years have seen a high implementation rate in whole genome sequencing (WGS) in tumor research. These factors have been key underpinning to the evolution of the clinical oncology next generation sequencing market in the U.S. U.S. market for clinical oncology next generation sequencing is segmented into pharmaceutical and biotech entities, clinical research, academic research institutes, and hospitals and clinics. Owing to growing awareness regarding the benefits associated with the implementation of second-generation sequencing in academic and university-based research projects, academic institutes will hold a strong presence in the clinical oncology next generation sequencing market. There are numerous players operating in the U.S. market. To hold their dominant position, many are banking on capitalizing data analysis requirements and need for more robust sequencing platforms through mergers and funding deals between major and minor players.
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U.S. Witnessing Rise in Funding Deals
Expansion being made in molecular technologies has helped in the diagnosis of genetic and infectious diseases. This has also expanded researchers’ understanding of oncology molecular diagnosis. Numerous economies world over have ramped up their investments in personalized treatment plans. Some of the key application areas are pharmaceutical and biotech entities, clinical research, academic research institutes, and hospitals and clinics. A number of university-based research projects in the U.S. have opened new avenues. Further, a number of players of different size are taking parts in mergers and engaging in extensive funding deals, thereby spurring the growth prospects in the clinical oncology next generation sequencing market in the U.S. Next generation sequencing finds application in detecting rare forms of cancer mutations, uncovering familial cancer mutation carriers, and in providing molecular rationale for the exact targeted therapy. Hence, it is widely considered as a disruptive technology in the area of cancer treatment.
There have been many noteworthy achievements in the field of cancer genetics in the past couple of years on account of cutting-edge technologies and tanking costs of next-generation sequencing (NGS). The report by TMR Research offers key insights into the U.S. clinical oncology Next Generation Sequencing (NGS) market.
Second Generation Sequencing Platforms Expanding Horizon
The demand for personalized therapies in cancer is a key trend propelling the adoption of NGS. World over, the risk of incidence of rare tumors has increased significantly. This calls for new, novel therapies that can be tailored and are more targeted. Reduction cost of NGS platforms is a key aspect boosting the market.
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Industry players with the support of substantive government efforts are increasingly leveraging the potential of genomic sequence analysis platforms in oncology research. This has paved way to the considerable adoption of second generation sequencing platforms. Further, growing potential of theranostics applications is boosting the market.
Key Players Analysis:
Pacific Bioscience, Agilent Technologies, GATC Biotech Ag, Macrogen Inc., Oxford Nanopore Technologies Ltd, Foundation Medicine, Life technologies Corp, Exosome Diagnostics, CLC Bio, Paradigm, Perkin Elmer, Inc, Inc, Partek, Inc, GnuBIO,
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