Increasing Cancer Prevalence Fueling The Growth Of The Market Due To Rising Demand For Precision Diagnostics: A Significant Driver Propelling The NGS Oncology Market In 2025

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What Is the NGS Oncology Market Size and Projected Growth Rate?
The market size of NGS oncology has seen significant expansion recently. It is projected to rise from $17.36 billion in 2024 to $19.39 billion in 2025, experiencing a compound annual growth rate (CAGR) of 11.7%. Factors contributing to this growth during the previous period include an increase in cancer cases, advances in cancer genomics research, heightened public consciousness, healthcare infrastructure development, and a growing need for individualized medicine.

The size of the NGS oncology market is predicted to experience swift expansion in the coming years, with a compound annual growth rate (CAGR) of 11.4%, reaching to $29.86 billion by 2029. This anticipated growth during the forecast period can be credited to factors such as expansion in companion diagnostics, an uprise in cancer cases, augmented investments from government and healthcare sectors, enlargement of clinical applications, as well as the growing predilection towards targeted therapies. The projected period also anticipates significant trends like incorporation of AI and machine learning, progress in single-cell sequencing, improved sequencing platforms, advanced liquid biopsy technology, and enhanced high-throughput sequencing platforms.

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What Are the Major Segments in the NGS Oncology Market?
The NGS oncology market covered in this report is segmented -

1) By Sequencing Technology: Targeted Sequencing, Genomics, Transcriptomics, Epigenomics
2) By Offering: Platform, Kits, Services
3) By Workflow: Pre-Sequencing, Sequencing, Data Analysis
4) By Application: Genetic Screening, Hereditary Genetic Testing, Hematological Malignancies, Solid Tumors, Other Applications
5) By End User: Hospitals And Clinics, Clinical Research Organizations (CROs), Academic And Research Institutes, Pharmaceutical And Biotechnology Companies, Other End Users

Subsegments:
1) By Targeted Sequencing: Whole Exome Sequencing (WES), Amplicon-Based Sequencing, Hybridization-Based Sequencing
2) By Genomics: Whole Genome Sequencing (WGS), Structural Variant Detection, Copy Number Variation (CNV) Analysis
3) By Transcriptomics: RNA Sequencing, Single-Cell Transcriptomics, Non-coding RNA Analysis
4) By Epigenomics: DNA Methylation Sequencing, Chromatin Immunoprecipitation Sequencing, Histone Modification Analysis

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What Are The Driving NGS Oncology Market Evolution?
The escalation in the occurrence of cancer is anticipated to fuel the expansion of the NGS oncology market. Cancer, an illness where abnormal cells proliferate uncontrollably and potentially metastasize to other body parts, can disrupt normal physiological functions. The surge in cancer occurrence is predominantly due to aging populations, as cancer risk augments with age. NGS oncology addresses the soaring cancer rate by facilitating early detection, accurate diagnosis, and individualized treatment leveraging in-depth genetic profiling of tumors. For example, as per the American Cancer Society, a nonprofit organization based in the U.S., approximately 20 million fresh cancer cases were documented globally in 2022, leading to 9.7 million fatalities; mainly fueled by population growth, the worldwide cancer burden is anticipated to escalate to 35 million cases by 2050. Hence, the rising cancer occurrence will stimulate the growth of the NGS oncology market.

Which Firms Dominate The NGS Oncology Market Segments?
Major companies operating in the NGS oncology market are Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Eurofins Scientific SE, Illumina Inc., Qiagen N.V., Tecan Trading AG, Myriad Genetics, Takara Bio Inc., Beijing Genomics Institute (BGI), Caris Life Sciences, Foundation Medicine, Paradigm Diagnostics, Pacific Bioscience, Horizon Discovery Group plc , Creative-Biolabs, Xcelris Labs Ltd., Partek Inc., 4baseCare, SciGenom Labs Pvt. Ltd.

What Are the Major Trends Shaping the NGS Oncology Market?
Major entities in the NGS oncology marketplace are concentrating their efforts on crafting novel solutions, such as liquid biopsy research assays. These assays will aid in non-invasive, real-time cancer identification and tracking via circulating tumor DNA analysis. A liquid biopsy research assay is a diagnostic procedure that studies bodily fluids like blood to spot genetic aberrations or other molecular markers linked to cancer. This promotes non-invasive cancer detection and supervision. For example, Illumina Inc, a biotechnology firm based in the United States that excels in next-generation sequencing (NGS) tech, broadened its oncology range for NovaSeq X Series users in August 2024. The firm now provides the recently validated high-throughput TruSight Oncology 500 (TSO 500 HT) and the updated TruSight Oncology 500 ctDNA v2 (TSO 500 ctDNA v2) liquid biopsy research assay. These advanced assays empower labs to extend their oncology research abilities for both tissue and liquid biopsy samples. This includes better sequencing efficacy, decreased operational times, and the capacity to handle larger sample measures on the NovaSeq X Series for the first time.

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Which Is The Largest Region In The NGS Oncology Market?
North America was the largest region in the NGS oncology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the NGS oncology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the NGS Oncology Market?
2. What is the CAGR expected in the NGS Oncology Market?
3. What Are the Key Innovations Transforming the NGS Oncology Industry?
4. Which Region Is Leading the NGS Oncology Market?

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