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LONDON, GREATER LONDON, UNITED KINGDOM, June 20, 2025 /EINPresswire.com/ -- In the field of worldwide medical analytics, the Next-Generation Sequencing NGS oncology market has been making substantial progress lately. The current value of the market, $17.36 billion in 2024, is expected to escalate to $19.39 billion by 2025, marking a compound annual growth rate CAGR of 11.7%. Factors contributing to the historic period’s growth include a surge in cancer incidents, augmentation in cancer genomics research, heightened public awareness, healthcare infrastructure expansion, and an increase in personalized medicine demand.
What Are The Forecasted Trends And Growth Rate Of NGS Oncology Global Market?
Advances in the NGS oncology market are expected to trend briskly in the following years, with predictions pointing to a surge to $29.86 billion by 2029 at a CAGR of 11.4%. Anticipated growth during the forecast period can be credited to the burgeoning development of companion diagnostics, an uptick in cancer prevalence, increased governmental and healthcare investments, clinical application expansion, and a rising adoption of targeted therapies. Major trends in the forecast period will likely include AI and machine learning integration, advancements in single-cell sequencing, enhanced sequencing platforms, liquid biopsy technology advancements, and high-throughput sequencing platform developments.
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What Propels The Growth Of The Ngs Oncology Market?
A surge in cancer prevalence is anticipated to be a primary factor catalyzing the NGS oncology market's expansion. Rising cancer prevalence largely correlates with aging populations, as the chances of developing cancer increase with age. NGS oncology aids in addressing this growing cancer prevalence through technologies that enable early detection, precise diagnosis, and personalized treatment via detailed genetic profiling of tumors. Therefore, the increased prevalence of cancer is expected to further stimulate the growth of the NGS oncology market.
What Major Players Operate In The Ngs Oncology Market?
Key players in the NGS oncology market include 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.
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What Emerging Innovations Are Influencing The Ngs Oncology Market?
Major players in the NGS oncology market are championing the development of cutting-edge solutions such as liquid biopsy research assays, which support non-invasive, real-time cancer detection and monitoring through circulating tumor DNA analysis. These diagnostic tests evaluate biological fluids for genetic mutations or other molecular markers associated with cancer.
How Is The NGS Oncology Market Segmented?
The market report for NGS oncology is organized in the following manner:
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 that include Targeted Sequencing Whole Exome Sequencing, Amplicon-Based Sequencing, Hybridization-Based Sequencing, Genomics Whole Genome Sequencing, Structural Variant Detection, Copy Number Variation Analysis, Transcriptomics RNA Sequencing, Single-Cell Transcriptomics, Non-coding RNA Analysis, and Epigenomics DNA Methylation Sequencing, Chromatin Immunoprecipitation Sequencing, Histone Modification Analysis, among others.
What Are The Regional Insights Into The NGS Oncology Market?
In 2024, North America was the leading region in the NGS oncology market, with Asia-Pacific projected to be the fastest-growing region in the forecast period.
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