Clinical Oncology Next Generation Sequencing Market Insights Shared in Detailed Report
Clinical Oncology Next Generation Sequencing: Introduction
- Next generation sequencing for tumor and germline DNA is required for oncology screening for therapeutic application. Rise in burden of cancer increases the need for early detection of the condition to carry out the generate target therapy.
- 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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Key Drivers and Restraints of Global Clinical Oncology Next Generation Sequencing Market
- 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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Key Drivers and Restraints of Global Clinical Oncology Next Generation Sequencing Market
- 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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Key Manufacturers Operating in Global Market
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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