Next-generation sequencing (NGS) is transforming clinical
medicine with its ability to analyze vast genetic data rapidly. As
highlighted by BCC Research, factors like precision medicine
initiatives and emerging applications in prenatal testing and
cancer detection are driving the rapid growth of the clinical NGS
market. Its versatility in examining genetic variations and
expanding test menus over time is revolutionizing healthcare
diagnostics.
BOSTON, April 22,
2024 /PRNewswire/ -- "According to the latest BCC
Research study, the demand for Next-generation Sequencing:
Emerging Clinical Applications and Global Markets is estimated
to increase from $21.9 billion
in 2023 to $52.9 billion by the end
of 2028, at a compound annual growth rate (CAGR) of 19.3% during
the forecast period of 2023-2028."
This report dives into the world of clinical Next-Generation
Sequencing (NGS), covering technologies, applications, industries,
and market trends. It explains why genetic variation matters in
clinical testing, highlights significant research initiatives, and
discusses liquid biopsy methods. Market analysis includes factors
like test complexity, clinical indications, and purposes. It
forecasts NGS diagnostics markets up to 2028, focusing on oncology,
cardiovascular diseases, infectious diseases, and more.
Geographical markets and industry sectors are also explored, with
profiles of over 100 companies in the field. Additionally, recent
industry acquisitions and alliances are summarized, giving insights
into key trends.
Next-generation sequencing (NGS) advancements drive targeted
medicines and precision diagnostics, with robotics and
bioinformatics enhancing speed and accuracy. Portable platforms
extend applications beyond medicine. Whole-genome sequencing
popularity rises, aiding diagnostics. Companies prioritize early
cancer detection via acquisitions. Genetic testing crucial for
diagnosing rare disorders, facilitated by techniques like WES and
WGS for comprehensive gene analysis.
Explore the full report on the burgeoning Next-generation
Sequencing: Emerging Clinical Applications and Global Markets for
comprehensive insights and forecasts – click here to Learn
More.
Next-Generation Sequencing Market Key Drivers
Growing Demand for Precision Medicine: Precision medicine
tailors treatments based on individuals' unique genetic, lifestyle,
and environmental factors. NGS identifies genetic variations for
personalized treatment plans, driving demand for NGS
diagnostics.
Emergence of Tissue-Agnostic Drug Labels: Tissue-agnostic
drug labels focus on genetic mutations rather than tumor types for
cancer treatment. NGS identifies these mutations, leading to
targeted therapies applicable across cancers, boosting NGS
adoption.
Increasing Endorsement of Liquid Biopsy-Based
Diagnostics: Liquid biopsies analyze cell-free DNA for cancer
detection. NGS detects genetic alterations, enabling early
detection, treatment monitoring, and disease assessment, backed by
industry endorsement.
Emergence of High Market Potential Applications: NGS aids
in oncology for mutation identification, predicting drug responses,
and monitoring tumor progression. It enhances diagnostics and
personalized treatment in various medical fields, driving market
potential.
Request a Sample Copy of the Next-generation
Sequencing: Emerging Clinical Applications and Global Markets
Report.
Report Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2022
|
Forecast Period
considered
|
2023-2028
|
Base year market
size
|
$18.4
billion
|
Market Size
Forecast
|
$52.9
billion
|
Growth Rate
|
CAGR of 19.3% for the
forecast period of 2023-2028
|
Segment
Covered
|
Disease Class, Test
Complexity, Analysis Type, and Geographic Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, and Rest of the World
|
Countries
covered
|
Austria, Belgium, Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece,
Hungary, Ireland, Iceland, Italy, Luxembourg, Netherlands, Norway,
Poland, Portugal, Romania, Spain, Switzerland, Turkey, UK, Sweden,
Australia, China, India, Japan, Malaysia, New Zealand, Philippines,
Singapore, Taiwan, Thailand, South Korea, Argentina, Brazil, Chile,
Israel, Kuwait, Russia, Saudi Arabia, South Africa, UAE
|
Key Market
Drivers
|
•
Growing demand for precision
medicine.
•
Emergence of tissue-agnostic drug
labels
•
Increasing endorsement of liquid
biopsy-based diagnostics from key industry stakeholders
•
Emergence of several high market
potential ("mega") applications
|
Segmentation: Understanding the Global Markets for Vaccine
Technologies: How They're Divided in the Global Markets:
By Disease Type Segmentation
NGS is used in various medical fields. In oncology, it
identifies mutations for personalized cancer treatment. In
reproductive health, it detects genetic disorders in pregnancy.
Mendelian disorders are diagnosed through single gene mutations.
NGS also aids in cardiovascular and neurological conditions,
infectious diseases, and immune responses.
By Test Complexity Segmentation
NGS methods differ in complexity. Multi-gene analysis studies
multiple genes simultaneously for complex diseases. Hotspot testing
focuses on specific gene regions with common mutations.
Whole/targeted exome sequencing examines all or specific
protein-coding genes. Whole-genome sequencing reads an individual's
entire genetic code, while single-gene testing targets specific
genes.
By Purpose of Tests Segmentation
NGS serves various medical purposes. Screening detects genetic
risk factors early. Monitoring tracks disease progression or
treatment response. Diagnostics identify specific genetic
conditions accurately. Therapy guidance tailor's treatments based
on genetic information.
This report on the Next-generation Sequencing provides
comprehensive insights and analysis, addressing the following key
questions:
1. What is the projected market size and
growth rate of the market?
The global Next-generation sequencing market in clinical
application was valued at $18.4
billion in 2022 and will reach $52.9
billion by 2028. It is expected to witness a CAGR of 19.3%
from 2023 to 2028.
2. What are the key factors driving the
growth of the market?
The global market for Next-generation sequencing in clinical
application is witnessing intrinsic growth owing to improvements to
NGS test workflow technologies, increasing emphasis on genomic
characterization of tumors, limitations of tissue biopsy, growing
use of precision medicine to treat diseases, and penetration of
clinical sequencing into applications with large potential
markets.
3. What segments are covered in the
market?
The Next-generation sequencing market in clinical application is
segmented based on disease type, test complexity, purpose of tests,
and region.
4. By disease type, which segment will
dominate the market by the end of 2028?
The oncology segment will dominate the market in 2028.
5. Which region has the highest market
share in the market?
North America holds the highest
share of the market.
Some of the Key Market Players Are:
- AGILENT TECHNOLOGIES INC.
- BGI GENOMICS CO. LTD
- ILLUMINA INC.
- QIAGEN
- THERMO FISHER SCIENTIFIC INC.
- ACCURAGEN HOLDINGS
- ADAPTIVE BIOTECHNOLOGIES
- ALCEN
- AMBRY GENETICS
- AMOY DIAGNOSTICS CO. LTD.
Browse More Related Reports:
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Directly Purchase a copy of the
report with BCC Research.
For further information or to make a purchase, please get in
touch with info@bccresearch.com.
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