The global clinical oncology next-generation sequencing market accounted for USD 0.429 billion in 2023 and is expected to reach at USD 2.14 billion by 2034 with a CAGR of 15.73% during the forecast period 2024-2034. The market will grow as a result of initiatives in precision medicine, cost reduction and technological advancements, the use of comprehensive genomic profiling (CGP), regulatory support, and reimbursement policies.
A major motivator is the move toward precision medicine, in which individual patients' regimens are customized based on their genetic composition. Oncologists can prescribe more effective and less harmful tailored medicines because NGS makes it easier to identify actionable mutations. The demand for NGS in clinical oncology is growing as precision medicine gains popularity throughout the world. For instance, Myriad Genetics (2023) included additional genetic markers to its myChoice CDx test to determine the likelihood of breast cancer recurrence.
By technology, the targeted sequencing and resequencing segment accounted for the highest revenue-grossing segment in the global clinical oncology next-generation sequencing market in 2023 owing to the increasing demand for precise and cost-effective analysis of specific genomic regions implicated in cancer development and treatment response, driving adoption by healthcare providers seeking targeted therapeutic insights. For instance, Illumina launched the NovaSeq X Series, their newest next-generation sequencing platform, in April 2023 to increase accuracy and throughput. Additionally, the whole-genome sequencing (WGS) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of its potential to uncover novel biomarkers, genetic variations, and therapeutic targets across the entire genome, driving adoption in research and clinical settings aiming for a comprehensive understanding of cancer biology and personalized treatment strategies.
By workflow, the NGS sequencing segment accounted for the highest revenue-grossing segment in the global clinical oncology next-generation sequencing market in 2023 owing to the rapid adoption by healthcare facilities for its ability to simultaneously analyze multiple genes and genetic alterations, providing comprehensive insights into tumor biology and guiding personalized treatment decisions for cancer patients. For instance, in 2024, Illumina introduced the Illumina TruSight Oncology Comprehensive Panel (v2), a novel next-generation sequencing (NGS) assay intended to identify a broader variety of variations linked to cancer. Additionally, the NGS data analysis segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing complexity of genomic data generated by NGS platforms, driving demand for advanced bioinformatics tools and expertise to interpret and derive actionable insights from large-scale genomic datasets, facilitating precision oncology initiatives and personalized treatment approaches.
By application, the screening segment accounted for the highest revenue-grossing segment in the global clinical oncology next-generation sequencing market in 2023 owing to the growing emphasis on early detection and preventive measures, driving demand for NGS-based screening assays for cancer predisposition genes, facilitating risk assessment, early intervention, and personalized management strategies for individuals at heightened risk of developing cancer. For instance, Qiagen and Illumina announced in December 2023 that they would be working together to co-develop and co-market in vitro diagnostic (IVD) kits based on next-generation sequencing for clinical oncology applications. Additionally, the companion diagnostics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing integration of companion diagnostics with targeted therapies, driving demand for NGS-based assays to identify biomarkers for patient stratification, treatment response prediction, and monitoring, thereby enhancing therapeutic outcomes and reducing healthcare costs.
By end-user, the laboratories segment accounted for the highest revenue-grossing segment in the global clinical oncology next-generation sequencing market in 2023 owing to the demand for laboratory-based NGS platforms and services to handle the increasing volume of clinical and research samples is being driven by the increased outsourcing of NGS testing services by pharmaceutical companies, research institutions, and healthcare providers. This ensures timely and accurate genomic analysis for cancer diagnosis, prognosis, and treatment decision-making. For instance, in 2023, Thermo Fisher Scientific was granted FDA approval for its Oncomine Dx Target Test, an NGS test that can find gene alterations that can inform therapy choices for a variety of solid tumor malignancies. Additionally, the clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for point-of-care NGS testing services in oncology, driven by the need for rapid and actionable genomic insights at the bedside or in outpatient settings, facilitating timely treatment decisions, patient counseling, and monitoring of treatment response, thereby improving overall patient outcomes and satisfaction.
North American region is anticipated to have the highest revenue share during the forecast period owing to the concentration of key market players, advanced healthcare infrastructure, supportive regulatory framework, and increasing adoption of precision medicine approaches in cancer care, driving demand for NGS-based oncology diagnostics and therapeutics across the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the expanding healthcare infrastructure, rising prevalence of cancer, growing awareness about personalized medicine, and government initiatives promoting genomic research and precision oncology, driving adoption of NGS-based diagnostics and therapeutics in the region. For instance, Qiagen (2022) collaborated with Natera to create a novel next-generation sequencing (NGS) test for the diagnosis of minimal residual disease (MRD) in colorectal cancer.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
A major motivator is the move toward precision medicine, in which individual patients' regimens are customized based on their genetic composition. Oncologists can prescribe more effective and less harmful tailored medicines because NGS makes it easier to identify actionable mutations. The demand for NGS in clinical oncology is growing as precision medicine gains popularity throughout the world. For instance, Myriad Genetics (2023) included additional genetic markers to its myChoice CDx test to determine the likelihood of breast cancer recurrence.
By technology, the targeted sequencing and resequencing segment accounted for the highest revenue-grossing segment in the global clinical oncology next-generation sequencing market in 2023 owing to the increasing demand for precise and cost-effective analysis of specific genomic regions implicated in cancer development and treatment response, driving adoption by healthcare providers seeking targeted therapeutic insights. For instance, Illumina launched the NovaSeq X Series, their newest next-generation sequencing platform, in April 2023 to increase accuracy and throughput. Additionally, the whole-genome sequencing (WGS) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing recognition of its potential to uncover novel biomarkers, genetic variations, and therapeutic targets across the entire genome, driving adoption in research and clinical settings aiming for a comprehensive understanding of cancer biology and personalized treatment strategies.
By workflow, the NGS sequencing segment accounted for the highest revenue-grossing segment in the global clinical oncology next-generation sequencing market in 2023 owing to the rapid adoption by healthcare facilities for its ability to simultaneously analyze multiple genes and genetic alterations, providing comprehensive insights into tumor biology and guiding personalized treatment decisions for cancer patients. For instance, in 2024, Illumina introduced the Illumina TruSight Oncology Comprehensive Panel (v2), a novel next-generation sequencing (NGS) assay intended to identify a broader variety of variations linked to cancer. Additionally, the NGS data analysis segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing complexity of genomic data generated by NGS platforms, driving demand for advanced bioinformatics tools and expertise to interpret and derive actionable insights from large-scale genomic datasets, facilitating precision oncology initiatives and personalized treatment approaches.
By application, the screening segment accounted for the highest revenue-grossing segment in the global clinical oncology next-generation sequencing market in 2023 owing to the growing emphasis on early detection and preventive measures, driving demand for NGS-based screening assays for cancer predisposition genes, facilitating risk assessment, early intervention, and personalized management strategies for individuals at heightened risk of developing cancer. For instance, Qiagen and Illumina announced in December 2023 that they would be working together to co-develop and co-market in vitro diagnostic (IVD) kits based on next-generation sequencing for clinical oncology applications. Additionally, the companion diagnostics segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing integration of companion diagnostics with targeted therapies, driving demand for NGS-based assays to identify biomarkers for patient stratification, treatment response prediction, and monitoring, thereby enhancing therapeutic outcomes and reducing healthcare costs.
By end-user, the laboratories segment accounted for the highest revenue-grossing segment in the global clinical oncology next-generation sequencing market in 2023 owing to the demand for laboratory-based NGS platforms and services to handle the increasing volume of clinical and research samples is being driven by the increased outsourcing of NGS testing services by pharmaceutical companies, research institutions, and healthcare providers. This ensures timely and accurate genomic analysis for cancer diagnosis, prognosis, and treatment decision-making. For instance, in 2023, Thermo Fisher Scientific was granted FDA approval for its Oncomine Dx Target Test, an NGS test that can find gene alterations that can inform therapy choices for a variety of solid tumor malignancies. Additionally, the clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for point-of-care NGS testing services in oncology, driven by the need for rapid and actionable genomic insights at the bedside or in outpatient settings, facilitating timely treatment decisions, patient counseling, and monitoring of treatment response, thereby improving overall patient outcomes and satisfaction.
North American region is anticipated to have the highest revenue share during the forecast period owing to the concentration of key market players, advanced healthcare infrastructure, supportive regulatory framework, and increasing adoption of precision medicine approaches in cancer care, driving demand for NGS-based oncology diagnostics and therapeutics across the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the expanding healthcare infrastructure, rising prevalence of cancer, growing awareness about personalized medicine, and government initiatives promoting genomic research and precision oncology, driving adoption of NGS-based diagnostics and therapeutics in the region. For instance, Qiagen (2022) collaborated with Natera to create a novel next-generation sequencing (NGS) test for the diagnosis of minimal residual disease (MRD) in colorectal cancer.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Technology, Workflow, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement
Segmentation: Clinical Oncology Next-generation Sequencing Market Report 2023 - 2034
Clinical Oncology Next-generation Sequencing Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Whole Genome Sequencing
- Whole Exome Sequencing
- Targeted Sequencing & Resequencing
Clinical Oncology Next-generation Sequencing Market Analysis & Forecast by Workflow 2023 - 2034 (Revenue USD Bn)
- NGS Pre-Sequencing
- NGS Sequencing
- NGS Data Analysis
Clinical Oncology Next-generation Sequencing Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Screening
- Sporadic Cancer
- Inherited Cancer
- Companion Diagnostics
- Other Diagnostics
Clinical Oncology Next-generation Sequencing Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Clinics
- Laboratories
Clinical Oncology Next-generation Sequencing Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Clinical Oncology Next-generation Sequencing Market: Technology Estimates & Trend Analysis
8. Clinical Oncology Next-generation Sequencing Market: Workflow Estimates & Trend Analysis
9. Clinical Oncology Next-generation Sequencing Market: Application Estimates & Trend Analysis
10. Clinical Oncology Next-generation Sequencing Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Clinical Oncology Next-generation Sequencing Market
13. Europe Global Clinical Oncology Next-generation Sequencing Market
14. Asia Pacific Global Clinical Oncology Next-generation Sequencing Market
15. Latin America Global Clinical Oncology Next-generation Sequencing Market
16. MEA Global Clinical Oncology Next-generation Sequencing Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Qiagen N.V.
- F. Hoffmann-La Roche Ltd.
- Agilent Technologies Inc.
- BGI Group
- PerkinElmer Inc.
- Oxford Nanopore Technologies Ltd.
- Pacific Biosciences of California Inc.
- Bio-Rad Laboratories Inc.
- Genomic Health Inc. (Acquired by Exact Sciences Corporation)
- Myriad Genetics Inc.
- Foundation Medicine Inc. (a Roche company)
- Guardant Health Inc.
- ArcherDX Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 0.43 Billion |
| Forecasted Market Value ( USD | $ 2.14 Billion |
| Compound Annual Growth Rate | 15.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
