U.S. Clinical Oncology Next Generation Sequencing (NGS) Market Growth Drivers and Restrains Analysis Report
TMR Research discusses the future of the U.S. clinical oncology next generation sequencing (NGS) market in latest research report. The research report, titled “U.S. Clinical Oncology Next Generation Sequencing (NGS) Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”, provides a detailed review. The study emphatically states that the soaring rise of cancer diagnostics is the very reason for the mushrooming clinical oncology NGS market. Development and introduction of this technology has radically changed the way cancer is understood, treated, and managed amongst patients and medical practitioners.
The growing demand for improved ways of clinical study of cancer has been the driving force behind usage of this technology for cancer molecular diagnosis, prenatal diagnosis, medical genetics and pharmacogenomics, molecular diagnosis of genetic and infectious diseases, carrier detection, and prognosis. The report points out that technologies such as targeted sequencing and re-sequencing will remain key contributors to the swelling revenue of the U.S. clinical oncology next generation sequencing market in the forthcoming years.
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Next generation sequencing has a number of advantages over traditional sequencing. First is its ability to completely sequence every kind of mutations for a large number of genes in one test cost-effectively. However, challenges exist in leveraging NGS, especially with respect to the need for simpler assays, more flexible throughput, reduced turnaround time, and most importantly in analyzing and interpreting the data. Overall, continued efforts to apply NGS in clinical oncology will take us one step closer to personalized medicine.
In the U.S., the clinical oncology next generation sequencing market has been buoyed by the astute initiatives of the government in the field of research and development in oncology. For example, loans and grants have been liberally disbursed by the U.S. government and various funding bodies to bring down the gap between genomic sequence analysis platforms development and their use in oncology research. In the near future, the substantial increase in spending related to cancer in the U.S. is slated to further drive up the demand for second generation sequencing platforms for diagnostic monitoring and theranostics applications.
A major challenge to the next generation sequencing is the time taken to uncover insights from the copious amount of data generated after the genome is sequenced. While this benefits the cancer patients as its aids in accurately studying many genes simultaneously that may be relevant to the patient’s tumor by using only a small amount of tissue at a reasonable cost, it also accords innumerable opportunities to commercial service providers to come up with proper solutions in much less time.
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The report predicts that the market will be buoyed by incredible number of initiatives being taken by the government to offer better healthcare facilities. Furthermore, growing number of investments in research and development of oncology are expected to boost the U.S. clinical oncology next generation sequencing market. However, huge time investment required for research and development of technologies and actually bringing them to the market is a major challenge for the overall market.
Key Players Analysis:
Some of the leading players operating in the U.S. clinical oncology next generation sequencing market are Roche, Pacific Bioscience, llumina Inc., GATC Biotech Ag, Macrogen Inc., Agilent Technologies, and Oxford Nanopore Technologies Ltd.
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