U.S. Clinical Oncology Next Generation Sequencing Market Share Analysis Report, 2023-2032

The U.S. clinical oncology next generation sequencing market size was estimated at USD 166.9 million in 2022 and is expected to surpass around USD 687.04 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 15.2% during the forecast period 2023 to 2032.

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Key Takeaways:

• The targeted sequencing & resequencing segment accounted for the largest revenue share of 72.55% in 2022.
• Whole-Genome Sequencing (WGS) is expected to grow at the fastest CAGR over the forecast period
• The market is segmented based on workflow into NGS sequencing, NGS pre-sequencing, and NGS data analysis. The NGS sequencing held an enormous share of 55.25% in 2022.
• The workflow segment, and it is anticipated to expand at the highest CAGR from 2023 to 2032.
• Screening accounted for an enormous revenue share of over 80.16% in 2022.
• The companion diagnostics segment is expected to register the highest CAGR of 20.2% over the forecast period.
• The laboratories segment held the largest market share, with a revenue share of over 64.14% in 2022.
• End-use, clinics are expected to witness the highest CAGR over the forecast period

U.S. Clinical Oncology Next Generation Sequencing Market Report Scope

The key factors attributed to the growth of the market are increasing adoption of NGS, increasing healthcare spending, and the rise in the prevalence of cancer. Moreover, the growth in clinical applications of NGS in precision oncology is expected to propel market demand over the forecast period.

The COVID-19 pandemic has significantly influenced the market. During the COVID-19 pandemic, private participants and government administrations focused on next-generation sequencing technology as a diagnostic instrument in the industry. For instance, in August 2020, the U.S. Food and Drug Administration authorized liquid biopsy NGS companion diagnostic tests to determine mutations in BRCA2 and BRCA1 genes and help treat patients with metastatic castration-resistant prostate cancer. These aspects supported the market demand during the COVID-19 pandemic.

Moreover, the rising number of cancer cases in the country is the major factor propelling the market. The American Cancer Society estimated that over 1.9 million new cancer patients will be diagnosed in the U.S. in 2023. Moreover, as per the U.S. Department of Health & Human Services, in 2020, the country reported 1,603,844 new cancer cases and 602,347 deaths. It further reports that around 20% of deaths in the U.S. causes due to cancer. NGS helps determine novel and rare cancer mutations, identifies familial cancer mutation carriers, and helps find suitable targeted treatments. Therefore, it is anticipated that an upsurge in cancer cases and patients across the globe can drive the demand for clinical oncology in NGS in the country market.

In addition, the increasing healthcare spending in the U.S. is expected to propel the demand for clinical oncology NGS market. According to the Journal published by the National Library Of Medicine in May 2022, cancer care spending in the country surpassed USD 200 billion in 2020. Moreover, every year pocket spending on cancer care is estimated to be around USD 16 billion. This increased spending on cancer care is anticipated to boost the research and development activities related to NGS-based diagnostics and treatments for cancer patients.

Moreover, the increasing adoption of NGS and its clinical applications in precision oncology is anticipated to propel the market growth over the forecast period.Various companies are launching platforms that use NGS for precision oncology and genomic insights. For instance, in June 2021, OmniSeq and LabCorp, the U.S.-based life science company, introduced OmniSeq INSIGHTsm, a next-generation sequencing test designed to advance precision oncology. Moreover, in April 2023, the U.S.-based company Agilent Technologies Inc. introduced Agilent Sure Select Cancer CGP Assay, based on NGS, for advancing precision oncology. Thus, the increasing focus of industry participants on NGS for precision oncology is expected to boost the market demand.

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Some of the key players in the U.S. clinical oncology next generation sequencing market include:

• Illumina, Inc.
• Thermo Fisher Scientific
• F. Hoffmann-La Roche Ltd.
• Agilent Technologies
• Myriad Genetics
• Beijing Genomics Institute (BGI)
• Perkin Elmer
• Foundation Medicine
• Pacific Bioscience
• Oxford Nanopore Technologies Ltd.
• Macrogen, Inc.
• Qiagen

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the U.S. Clinical Oncology Next Generation Sequencing market.

By Technology 

• Whole Genome Sequencing
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing Centrifuges

By Workflow 

• NGS Pre-Sequencing
• NGS Sequencing
• NGS Data Analysis

By Application 

• Screening
  • Inherited Cancer
  • Sporadic Cancer
• Companion Diagnostics
• Other Diagnostics

By End-use 

• Hospitals
• Clinics
• Laboratories

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