Wilmington, Delaware, United States, Transparency Market Research Inc. – Next generation sequencing for tumor and germline DNA is required for oncology screening for therapeutic application
Wilmington, Delaware, United States, Transparency Market Research Inc. – Next generation sequencing for tumor and germline DNA is required for oncology screening for therapeutic application. Rise in burden of cancer increases the need for early detection of the condition to carry out the generate target therapy.
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Companies are investing to develop technologically advanced devices/solutions for precision detection. In 2012, Oxford Nanopore had launched the GridION sequencing platform, which can sequence a human genome in 15 minutes. In 2012, Ion Torrent had stated that their Ion Proton benchtop sequencer device could sequence an entire human genome in a day for less than US$ 1,000.
In November 2019, Thermo Fisher Scientific launched its fully integrated next-generation sequencing (NGS) platform, Ion Torrent Genexus System, featuring an automated specimen-to-report workflow that delivers results economically in a single day.
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Key Drivers and Restraints of Global Clinical Oncology Next Generation Sequencing Market
- Rise in burden of cancer and its early diagnosis for treatment is fueling market growth. According to the 2018 GLOBOCAN database, the global cancer burden was predicted to rise to 18.1 million new cases, 9.6 million cancer deaths, and 43.8 million people living with cancer in 2018. Majority of cancer incidences occur in Asia and about one-quarter in Europe.
- Increase in investments for oncology research is also driving the global clinical oncology next generation sequencing market. In 2019, Cancer Research UK invested US$ 262.90 Mn to focus on companies developing innovative oncology treatments. As per CB Insights, a research firm, equity investments in cancer-therapeutics startups grew from US$ 2 Bn in 2013 to US$ 4.5 Bn in 2017.
- Non-value-based NGS reimbursement policy hampers market growth due to relatively high total costs of delivering NGS test results compared to other technology platforms, and limited coverage by payers
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Targeted Sequencing & Resequencing Technology for Skin Treatment to Witness High Demand
- Based on technology, the global clinical oncology next generation sequencing market can be segmented into whole genome sequencing, whole exome sequencing, and targeted sequencing & resequencing
- Targeted sequencing & resequencing segment dominates the clinical oncology next generation sequencing market, in terms of revenue generation. This technique is useful in analyzing specific mutations. Multiple genes can also be assessed across several samples in parallel. Due to its cost-effective findings, and accurate and easy-to-interpret results, targeted sequencing & resequencing holds a leading share of the global market. AmpliSeq offered by Illumina, Inc. is a comprehensive targeted resequencing solution, which can detect mutation in a few to hundreds of genes samples.
- Whole genome sequencing segment is expected to grow significantly during the forecast period. Due to decrease in sequencing cost and expansion of computer resources, the whole genome sequencing technology will become common and sophisticated, as it provides sufficient information to understand the biology underlying the cancer genome and function of unexplored non?coding regions.
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Companion Diagnostic Segment to Witness Rapid Growth
- Based on application, the global clinical oncology next generation sequencing market can be segregated into screening, companion diagnostics, and other diagnostics. Screening segment can be further divided into sporadic cancer and inherited cancer.
- Demand for whole exome and genome sequencing tests is rapidly increasing for the screening of cancer to offer targeted diagnostic and treatment market for oncology. The next generation sequencing technology in the field of clinical oncology is applied in genetic diagnosis, cancer classification to prepare predictive biomarkers, and personalized medicine.
- Companion diagnostic segment is expected to grow at a rapid rate due to numerous benefits offered by the technology in the field of oncology. In 2018, The Centers for Medicare & Medicaid Services (CMS) announced that it will pay for next generation sequencing (NGS)–based companion diagnostics for its beneficiaries with advanced cancer.
North America to Dominate Global Market for Clinical Oncology Next Generation Sequencing
- In terms of region, the global clinical oncology next generation sequencing market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America holds the major share of the global market due to rise in government initiatives investments in researches, and presence of high-quality health care infrastructure. Furthermore, increase in incidences of cancer and high demand for personalized medicine are likely to boost the market in the region.
- This market in Asia Pacific is projected to expand at a rapid CAGR during the forecast period, owing to the clinical oncology next generation sequencing market growth in emerging countries and continuous development in health care and pharmaceutical industries in the region. Countries with highest cancer rate includes Australia and New Zealand.
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Key Manufacturers Operating in Global Market
The global clinical oncology next generation sequencing market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Illumina, Inc.
- F. Hoffmann-La Roche Ltd
- Oxford Nanopore Technologies
- Agilent Technologies
- Thermo Fischer Scientific Inc.
- PerkinElmer, Inc.
- BD
- Qiagen N.V.
- Pacific Biosciences of California, Inc.
- Takara Bio, Inc.
- Creative Biolabs
- Mogene LC
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