The NGS in cancer diagnostic market is reshaping cancer diagnosis by harnessing the potential of Next-Generation Sequencing (NGS) technology in oncology. NGS enables comprehensive analysis of genomic alterations, aiding in personalized cancer treatments. With its precision and scalability, NGS is revolutionizing cancer diagnosis, offering a deeper understanding of tumor genetics and guiding clinicians in tailoring therapies. This transformative approach is a game-changer in oncology, improving patient care and outcomes.
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Data Bridge Market Research analyses that the Asia-Pacific Next Generation Sequencing (NGS) in Cancer Diagnostic Market value, which was USD 684.99 million in 2022, is expected to reach the value of USD 2,184.50 million by 2030 at a CAGR of 15.6% during the forecast period 2023-2030. The increasing cost-effectiveness of NGS (next-generation sequencing) technologies makes them more accessible to healthcare providers and researchers. This affordability promotes the widespread adoption of NGS in cancer diagnostics, driving the market's growth and improving patient care.
Key Findings of the Study
Government initiatives are expected to drive the market's growth rate
Supportive policies and funding are pivotal in advancing the next-generation sequencing (NGS) market in cancer diagnostics. Government initiatives and research grants provide financial backing for developing and adopting NGS technologies. This funding fosters innovation, accessibility, and the implementation of NGS in clinical and research settings. It accelerates the discovery of novel diagnostic markers and therapeutic targets, bolstering the NGS market's growth and ultimately improving cancer research, diagnosis, and treatment.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Cancer Type (Lung, Breast, Colorectal, Prostrate, Stomach, Cervical, Leukemia, and Others), Product and Service (Kits, Software, and Services and Instruments), Technologies (Panels/Targeted Sequencing and Resequencing, Whole Exome Sequencing, Whole Genome Sequencing, RNA Sequencing, and Other Sequencing Technologies), Workflow (NGS Sequencing, NGS Data Analysis, and NGS Pre-Sequencing), Application (Screening, Companion Diagnostics, and Others), End User (Pathology Labs, Hospitals, Oncology Centers and Others), Distribution Channel (Direct Tender and Retail Sales)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
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Market Players Covered
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Illumina, Inc. (U.S.), Thermo Fisher Scientific (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies Inc. (U.S.), Myriad Genetics Inc. (U.S.), BGI (China), Perkin Elmer Inc. (U.S.), Foundation Medicine Inc. (U.S.), PacBio (U.S.), Oxford Nanopore Technologies plc. (U.K.), Paradigm Diagnostics Inc. (U.S.), Caris Life Sciences (Japan), Partek, Incorporated (U.S.), Eurofins Scientific (Luxembourg), QIAGEN (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market is segmented on the basis of cancer type, product and service, technologies, workflow, application, distribution channel, and end-user.
- On the basis of cancer type, the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market is segmented into lung, breast, colorectal, prostrate, stomach, cervical, leukemia, and others.
- On the basis of product and service, the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market is segmented into kits, software, and services and instruments.
- On the basis of technologies, the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market is segmented into panels/targeted sequencing and resequencing, whole exome sequencing, whole genome sequencing, RNA sequencing, and other sequencing technologies
- On the basis of workflow, the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market is segmented into NGS sequencing, NGS data analysis, and NGS pre-sequencing.
- On the basis of application, the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market is segmented into screening, companion diagnostics, and others.
- On the basis of distribution channel, the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market is segmented into direct tender and retail Sales
- On the basis of end-user, the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market is segmented into pathology labs, hospitals, oncology centers, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market players in Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market are Illumina, Inc. (U.S.), Thermo Fisher Scientific (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies Inc. (U.S.), Myriad Genetics Inc. (U.S.), BGI (China).
Market Development
- In 2020, Burning Rock Biotech, a leading Chinese cancer testing provider, joined forces with Illumina to advance Next-Generation Sequencing (NGS)-based cancer therapy selection in China. This collaboration aims to standardize and develop NGS applications for cancer treatment. Furthermore, Burning Rock partnered with Myriad Genetics to co-develop and introduce the myChoice tumor testing platform in the Chinese market. These strategic alliances seek to enhance precision cancer care and expand testing capabilities in China.
Regional Analysis
Geographically, the countries covered in the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
As per Data Bridge Market Research analysis:
China is estimated to be the fastest growing region Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market in the forecast period 2023-2030
China is poised for significant growth in the next-generation sequencing (NGS) in cancer diagnostic market due to substantial advancements in molecular biology and sequencing technologies. These improvements enhance the market's potential by offering more accurate and cost-effective solutions. Major players in China offer NGS products and services at competitive prices, bolstering market expansion. As a result, China is expected to exhibit the highest growth rate in the forecast period, playing a pivotal role in the NGS-based cancer diagnostic sector.
For more detailed information about the Asia-Pacific next generation sequencing (NGS) in cancer diagnostic market report, click here – https://www.databridgemarketresearch.com/reports/asia-pacific-next-generation-sequencing-ngs-in-cancer-diagnostic-market
