Global Clinical Oncology Next Generation Sequencing Industry Analysis Outlook, Trend, Growth and Share Estimation Analysis
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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Global Clinical Oncology Next Generation Sequencing market Witness Most Promising Rise in Demand
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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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
Key Players of Clinical Oncology Next Generation Sequencing Market Report:
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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