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November 2024
The global oncology NGS market size was calculated at US$ 508.95 million in 2024, grew to US$ 589.01 million in 2025, and is projected to reach around US$ 2,193.49 million by 2034. The market is expanding at a CAGR of 15.73% between 2024 and 2034. The demand for NGS in oncology is high due to growing cases of cancer and R&D for new treatments and diagnoses.
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NGS has become a valuable technique for gaining a more thorough and precise look into the molecular foundations of individual tumors as genomics-focused pharmacology starts to play a more significant part in cancer therapy. NGS-driven companion diagnostics are generally seen as driving therapy selection to maximize patient outcomes in the future since targeted medicines are emerging as the new standard of care in cancer. The subject of cancer might be significantly impacted by the accuracy, sensitivity, and speed benefits that NGS offers over conventional techniques. NGS removes the need to order several tests to determine the mutation that caused it because it can evaluate many genes in a single experiment.
This multigene strategy offers a more cost-effective option by cutting down on response time and reducing the possibility of using up valuable clinical samples. Furthermore, due to its great sensitivity, NGS can detect mutations in as low as 5% of the DNA extracted from a tumor sample. NGS may enhance the promise of customized therapy and the future of cancer. To find out more, we encourage you to review the materials gathered here.
Next-generation sequencing (NGS) is a potent instrument that has transformed genetic research and created new avenues for technological advancement. Thanks to NGS, researchers and scientists can swiftly and affordably sequence large volumes of genomic material, giving them access to a wealth of data that can be utilized for forensic investigations, medical treatment development, or the discovery of new insights. NGS has the potential to produce even more significant outcomes, insights, and results with the development of artificial intelligence (AI) and machine learning (ML).
Growing Cases of Cancer
The anticipated 20 million new cases of cancer in 2022 are expected to rise by 77% to over 35 million cases in 2050. The fast-increasing worldwide cancer burden is a result of changes in risk factor exposure, many of which are linked to socioeconomic development, as well as population increase and aging. Obesity, alcohol, and tobacco use are the main causes of the rising cancer incidence, while air pollution continues to be a major contributor to environmental risk factors.
Cost and Lack of Professionals
Advanced bioinformatics technologies, quick data processing, and vast data storage capacities are necessary for next-generation sequencing, and they might be expensive. Even while many institutions might be able to afford next-generation sequencing technology, many do not have the people or computing capacity to analyze and interpret the data in a therapeutic manner.
NGS Oncology for Personalized Medicine
NGS is also used to enhance logically planned personalized medication in addition to detecting genetic and new somatic alterations. Numerous research have used NGS to treat cancer in a tailored manner thus far. The advancement of NGS technology has made it feasible to obtain a patient's whole molecular profile in a clinically reasonable amount of time and at a reasonable cost.
By technology, the targeted sequencing and resequencing segment was dominant in the oncology NGS market in 2023. TS is a potent method that can strike the greatest possible balance between the overall cost and data load for large-scale executions and the precise and highly sensitive identification of targeted events. In clinical trials and cancer research, TS has been extensively utilized to classify patients into risk groups according to the main gene's mutational state.
By technology, the whole genome sequencing segment is expected to grow at the fastest CAGR in the oncology NGS market during the forecast period. Before the human genome was decoded, one of the main objectives of cancer researchers was to use whole-genome sequencing (WGS) to get a more thorough knowledge of cancer. Right now, the most effective method for creating a thorough picture of the genomic variation in a tumor without using several different technical platforms is to use a whole-genome approach.
By workflow, the NGS sequencing segment dominated the oncology NGS market in 2023 and is expected to grow at the fastest rate during the predicted timeframe. Over the past ten years, next-generation sequencing (NGS) has been used more and more in cancer genomics research as new sequencing technology has advanced. In order to enhance individualized cancer treatment, NGS has more recently been used in clinical oncology. NGS is utilized to find new and uncommon cancer mutations, identify carriers of family cancer mutations, and offer scientific justification for suitable targeted treatment.
By application, the screening segment held the major share of the oncology NGS market in 2023. NGS-based cancer sequencing techniques have opened up new research avenues by deepening our understanding of the genesis, control, and course of cancer. These methods assist in identifying alterations in the cancer genome and their effects on the transcriptome, epigenome, and proteome. By evaluating hundreds of targets simultaneously, NGS significantly increases the possibility of the discovery of each sample. Traditional molecular techniques could overlook low-frequency molecular processes linked to carcinogenesis, cancer development, and metastasis, whereas NGS can identify them.
By application, the companion diagnostics segment is estimated to achieve the fastest CAGR in the oncology NGS market during 2024-2034. Complementary diagnostic tests have become more necessary as focused medicines have emerged in cancer and other fields. Next-generation sequencing (NGS), which uses a multi-analyte technique to provide extensive biomarker information, is a perfect way to integrate precision medicine into routine clinical practice.
By end-use, the laboratories segment held the largest share of the oncology NGS market in 2023. In terms of developing and refining oncology tests according to certain cancer kinds, laboratories take the lead. The intricate biology of cancer, related research, and biomarkers—whether pharmacodynamic, evidence of mechanism or patient selection biomarkers—are all understood by laboratories in order to provide insightful information that can help design improved results.
By end-use, the clinics segment is estimated to grow at the fastest CAGR in the oncology NGS market during the forecast period. Clinics are gaining attention as they provide highly specialized services. Such clinics are equipped with high-end equipment and trained professionals.
North America dominated the oncology NGS market in 2023. The nation's market is probably going to benefit from the rising incidence of chronic illnesses. The market in North America is also anticipated to grow as a result of the region's high concentration of major competitors, growing Food and Drug Administration approvals of strategic partnerships, and significant expenditure in R&D. In the healthcare sector, personalized medicine has emerged as a key research subject, permeated clinical practice, and is revolutionizing the diagnosis and treatment of several illnesses. Additionally, there is a growing emphasis on creating individualized therapies, a rise in the demand for high-quality research instruments for data reproducibility, and an increase in funding for the creation of structure-based drug designs. To improve their position in the market, major businesses have forged strategic alliances.
Asia Pacific is estimated to host the fastest-growing oncology NGS market during the forecast period. Driven by elements like the expanding pharmaceutical and healthcare industries, especially in developing nations. Because of the high cancer death rates in the area, there is a need for cutting-edge diagnostic tools like NGS. Sequencing prices have dramatically decreased in China in particular, which has fueled market expansion and promoted economic growth. Leading market companies' aggressive pricing tactics, supportive government regulations, and high investment levels all contribute to the region's clinical oncology NGS market's expansion and provide great prospects for both stakeholders and market participants.
In November 2024, Caris Chairman, Founder, and CEO David Dean Halbert, DSc (h.c.) remarked that the FDA's approval of MI Cancer Seek, the first of its kind, further demonstrates Caris' continued leadership in molecular science and our extreme focus on quality." In order to guarantee that patients have access to vital precision medicine technologies, we are excited to launch MI Cancer Seek.
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