Clinical Oncology Next-Generation Sequencing Market to Reach USD 35.42 Billion by 2030 at 20.7% CAGR

► Clinical Oncology Next-Generation Sequencing Market Poised for Remarkable Growth, Projected to Reach USD 35.42 Billion by 2030

The Clinical Oncology Next-Generation Sequencing (NGS) market is experiencing unprecedented growth, driven by technological advancements, the rising global cancer burden, and an increasing demand for personalized medicine. Valued at USD 9.49 billion in 2023, the market is projected to expand at a compound annual growth rate (CAGR) of 20.7%, reaching nearly USD 35.42 billion by 2030.

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► Driving Forces Behind Market Expansion

Advancements in NGS technologies have revolutionized cancer genome analysis, offering higher throughput, faster turnaround times, and reduced costs compared to traditional sequencing methods. These innovations facilitate rapid and cost-effective genomic profiling in oncology research and clinical applications. Additionally, the escalating global burden of cancer, particularly in developing regions, has intensified the demand for precise genomic analysis provided by NGS.

► Competitive Landscape

Key industry players are actively engaging in strategic collaborations, mergers, and acquisitions to enhance their product portfolios and expand market reach. Notable companies such as Illumina, Thermo Fisher Scientific, Qiagen, and Roche are at the forefront of these initiatives, driving innovation in clinical oncology NGS.

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► Regional Insights

• United States: Growth and Consolidation in Clinical Oncology NGS

The United States is witnessing significant growth in the clinical oncology NGS market, with projections estimating a surge at a 19.4% CAGR through 2034. This expansion is fueled by the increasing adoption of precision medicine and favorable reimbursement policies. In January 2025, GSK agreed to acquire IDRx, a Massachusetts-based cancer drug developer, for up to $1.15 billion, aiming to bolster its oncology portfolio.

• Asia Pacific: Opportunities and Trends in Clinical Oncology NGS

The Asia Pacific region presents substantial opportunities for the clinical oncology NGS market, driven by a growing prevalence of cancer and advancements in healthcare infrastructure. Technological innovations and increasing awareness of personalized medicine are key trends propelling market growth in this region.

• Europe: Market Updation and Regulatory Developments

Europe's clinical oncology NGS market is evolving, with projections indicating significant growth in countries like France and Germany, anticipating CAGRs of 21.6% and 19.1% through 2034, respectively. Regulatory developments have also shaped the market landscape; in September 2024, Europe's top court limited the powers of EU competition regulators, impacting the review process of mergers and acquisitions within the sector.

• Middle East and Africa: Emerging Trends and Opportunities

The Middle East and Africa are emerging as potential markets for clinical oncology NGS, with increasing investments in healthcare infrastructure and a rising focus on personalized medicine. Collaborations between local governments and international organizations are fostering the adoption of advanced genomic technologies in cancer diagnostics and treatment.

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► Market Segmentation: In-Depth Analysis:

• by Technology

Whole Genome Sequencing
Whole Exome Sequencing
Targeted Sequencing
Others

Although whole genome sequencing offers a thorough view of a person's entire genome, making it possible to identify complex structural variations and novel mutations, its adoption is constrained by high costs and a need for extensive data analysis. In 2023, whole genome sequencing dominated the clinical oncology next-generation sequencing market. Whole Exome Sequencing (WES), which focuses on sequencing the genome's protein-coding sections, strikes a balance between affordability and thorough genomic coverage, making it appropriate for detecting coding mutations linked to cancer.

• by Workflow

Pre-Sequencing
Sequencing
Data Analysis

• by Application

Screening
Diagnostics

• by End-User

Hospitals
Clinics
Laboratories

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► Learn about the top players driving innovation in the Market :

♦ Major Contributors in the Clinical Oncology Next-Generation Sequencing Industry in North America:
1. Illumina, Inc.., San Diego, California, USA
2. Thermo Fisher Scientific, Inc., Waltham, Massachusetts, USA
3. Guardant Health, Inc., Redwood City, California, USA
4. PPacific Bioscience of California, Inc., Menlo Park, California, USA
5. Agilent Technologies, Inc., Santa Clara, California, USA

♦ Leading players in the Europe Clinical Oncology Next-Generation Sequencing Market:
1. Qiagen N.V., Venlo, Netherlands
2. Roche Holdings AG (including Foundation Medicine), Basel, Switzerland
3. Oxford Nanopore Technologies Ltd., Oxford, United Kingdom
4. Genewiz Germany GmbH, Leipzig, Germany
5. Sophia Genetics SA, Saint-Sulpice, Switzerland

♦ Key players driving the Asia-Pacific Clinical Oncology Next-Generation Sequencing Market:
1. Novogene Corporation, Beijing, China
2. BGI Group, Shenzhen, China
3. Takara Bio Inc., Kusatsu, Japan
4. MedGenome Labs Pvt. Ltd., Bengaluru, India

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