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Next Generation Cancer Diagnostics Market, By Technology (Next Generation Sequencing, qPCR and Multi

Published Date: June 2021 | Report Code : HC2169821

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Next Generation Cancer Diagnostics Market, By Technology (Next Generation Sequencing, qPCR and Multiplexing, Lab-on-a-Chip (LOAC) and Reverse Transcriptase-PCR (RT-PCR), Protein Microarrays, DNA Microarrays), By Application (Biomarker Development, CTC Analysis, Proteomic Analysis, Epigenetic Analysis, Genetic Analysis), By Cancer Type (Lung Cancer, Breast Cancer, Colorectal Cancer, Cervical Cancer, Others), By Function (Therapeutic Monitoring, Companion Diagnostics, Prognostics, Cancer Screening, Risk Analysis), and By Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) — Market Size and Forecasting to 2030

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Healthcare

Report Code : HC2169821

Status : Published June 2021

The Global Next Generation Cancer Diagnostics Market is anticipated to reach USD 5,650.9 million in 2021 and is projected to grow at a CAGR of 19.8% during the forecast period. Cancer diagnostics is a method for detecting several proteins, biomarkers, and certain symptoms that detect the presence of cancerous tumors in the patients. The method of detecting cancer comprises the extensive usage of certain devices and technology mainly used in its diagnosis.

The next generation cancer diagnostics method aids in initial cancer prevention and diagnostics. Researchers are constantly making efforts in developing innovative diagnostic tools for cancer and also developing the older ones. Many market players are undergoing partnerships for the development of new cancer assays and biomarkers. This is favoring the market growth.

The increasing incidence of oncology diseases is expected to drive the demand for next generation cancer diagnostics tests. These tests facilitate initial diagnosis and allow the efficient prognosis of several forms of cancer. This is expected to positively influence the market growth during the forecast period. The development of diagnostic laboratories and acceptance of automated and integrated lab systems are also anticipated to drive the demand for advanced workflow systems and boost revenue generation.

The shift from traditional laboratory testing to rapid point-of-care testing will support market growth owing to the predictable commercialization of the technologically innovative range of products comprising diagnostic instruments, kits, and reagents. Government measures are taken by emerged and emerging countries to increase the number of research projects in accordance with preventative and oncology diagnoses are expected to drive the next-generation cancer diagnostics market during the forecast period.

High capital investments and the increased price of diagnostic imaging systems affecting their rate of acceptance in developing markets are the key factors that can restraint the market during the forecast period. However, with the increasing development of companion diagnostics for their execution in delivering advanced and personalized genomic medicine, the market is expected to observe high-value avenues and opportunities for growth during the forecast period.

The QMI team is closely observing the impact of the COVID-19 pandemic on next generation cancer diagnostics and the market was seen to be down in 2020. On account of the barriers in sales and manufacturing segments. The outbreak led to the closure of all manufacturing companies excluding sanitizers, ventilators, and masks. Therefore, the diagnostic devices were manufactured less related to earlier years, during the pandemic outbreak.

The pandemic has significantly impacted the availability of hospital resources across the globe. This has been initially managed by dramatically decreasing outpatient and inpatient services for other diseases and executing infection control and prevention measures. The number of cancer diagnostic and screening methods declined precipitously, with countries across the globe being affected by the pandemic.

TABLE 1: GLOBAL NEXT GENERATION CANCER DIAGNOSTICS MARKET OVERALL SNAPSHOT

 Next Generation Cancer Diagnostics Market

Market Segmentation

The next generation cancer diagnostic market is segmented based on technology, application, cancer type, function, and region.

Global Next Generation Cancer Diagnostics Market

FIGURE 1: GLOBAL NEXT GENERATION CANCER DIAGNOSTICS MARKET SEGMENTATION

Global Next Generation Cancer Diagnostics Market, by Technology

Based on technology, the next generation cancer diagnostics market is segmented into next generation sequencing, qPCR and multiplexing, Lab-on-a-Chip (LOAC) and reverse transcriptase-PCR (RT-PCR), protein microarrays, and DNA microarrays.

The next generation sequencing and qPCR and multiplexing segments hold the largest market in 2021 and are expected to remain the largest market during the forecast period. The next generation sequencing segment growth can be due to increasing in-vitro diagnostics tests by private diagnostics clinics and hospitals. Advantages like detection of gene deletion or duplication are also expected to boost segment growth.

The qPCR and multiplexing segment growth can be because it is cost-effective compared with traditional testing methods. Additionally, the presence of an extensive product portfolio of qPCR and multiplexing segment serving several applications in oncology R&D will drive the next generation cancer diagnostics market growth in the forecast period.

Global Next Generation Cancer Diagnostics Market, by Application

Based on application, the next generation cancer diagnostics market is segmented into biomarker development, CTC analysis, proteomic analysis, epigenetic analysis, and genetic analysis.

The biomarker development segment is the fastest-growing segment in 2021 and is expected to remain the fastest-growing segment in the forecast period. Biomarker tests have shown accuracy levels as high as 90% in investigational studies and offered improved sensitivity in tumor screening. This factor is expected to drive the segment growth during the forecast period.

The genetic analysis segment is expected to observe significant growth during the forecast period. Increase in the number of research projects for innovative solutions and tools that facilitate initial detection of tumor-causing mutations is expected to contribute to segment growth.

Global Next Generation Cancer Diagnostics Market, by Cancer Type

Based on cancer type, the next generation cancer diagnostics market is segmented into lung cancer, breast cancer, colorectal cancer, cervical cancer, and others.

The lung cancer type segment holds the largest market in 2021 and is expected to remain the largest segment during the forecast period. Relatively higher number of patents and research projects filed in this segment are expected to drive the demand for segment during the forecast period. Also, lung cancer has the highest occurrence at a global level which is expected to contribute to segment growth during the forecast period.

Additionally, breast cancer segment is expected to observe significant growth during the forecast period. The segment growth can be on account of increase in its occurrence rate that would augment the demand for diagnostic and screening technologies.

Global Next Generation Cancer Diagnostics Market, by Function

Based on function, the next generation cancer diagnostics market is segmented into therapeutic monitoring, companion diagnostics, prognostics, cancer screening, and risk analysis.

The prognostics segment is expected to be the fastest growing segment in 2021 and is expected to remain the fastest growing segment during the forecast period. The prognostics segment growth can be attributed to the fact that the prognosis of cancer differs from patient to patient and plays a vital role in scheming cancer protocols and therapies for chemotherapy, gene therapy, and radiation-based treatment.

Global Next Generation Cancer Diagnostics Market, by Region

Based on region, the next generation cancer diagnostics market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America.

North America holds the largest market in 2021 and is projected to remain the largest market during the forecast period. The regional market growth can be attributed to high per capita healthcare spending and favorable healthcare policies. Additionally, the presence of market players is supporting development in the U.S. Strategies undertaken by these companies comprise product launches and mergers, development plans, which will continue aiding overall expansion in North America.

Asia Pacific is anticipated to be the fastest-growing region in 2021 and is expected to remain the fastest-growing region during the forecast period. The factors accounting for faster growth of Asia Pacific region include a largely untapped market base, which has shown technological development in healthcare research in the past decade. Significantly higher investments in healthcare research and economic enhancement of these regions are further anticipated to boost the market potential during the forecast period.

TABLE 2: GLOBAL NEXT GENERATION CANCER DIAGNOSTICS MARKET OVERVIEW

Next Generation Cancer Diagnostics Market

Global Next Generation Cancer Diagnostics Market

FIGURE 3: GLOBAL NEXT GENERATION CANCER DIAGNOSTICS MARKET (USD MILLION), 2021-2030

Recent Developments in the Global Next Generation Cancer Diagnostics Market

  • November, 2020- GE Healthcare collaborated with GenesisCare to develop patient outcomes for the two major health burdens worldwide, heart and cancer disease. GE Healthcare would offer MRI, CT, SPECT, PET/CT, digital mammography, and ultrasound equipment to GenesisCare’s 440+ cardiovascular and cancer disease treatment centers across Australia, US, Spain, and UK.
  • January, 2020- Roche Diagnostics collaborated with Illumina to offer broad access to clinical oncology next-generation sequencing.

What Does This Report Provide?

This report provides a detailed understanding of the global next generation cancer diagnostics market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.

The major market drivers, challenges, and opportunities for the global next generation cancer diagnostics market have been covered in the report. This report further includes the market shares of the leading companies operating in the global market, along with their production capacities and the growth strategies adopted by them.

Market Segmentation:

By Technology

  • Next Generation Sequencing
  • qPCR and Multiplexing
  • Lab-on-a-Chip (LOAC) and Reverse Transcriptase-PCR (RT-PCR)
  • Protein Microarrays
  • DNA Microarrays

By Application

  • Biomarker Development
  • CTC Analysis
  • Proteomic Analysis
  • Epigenetic Analysis
  • Genetic Analysis

By Cancer Type

  • Lung Cancer
  • Breast Cancer
  • Colorectal Cancer
  • Cervical Cancer
  • Others

By Function

  • Therapeutic Monitoring
  • Companion Diagnostics
  • Prognostics
  • Cancer Screening
  • Risk Analysis

By Region:

North America Next Generation Cancer Diagnostics Market

  • North America, by Country
    • U.S.
    • Canada
    • Mexico
  • North America, by Technology
  • North America, by Application
  • North America, by Cancer Type
  • North America, by Function

Europe Next Generation Cancer Diagnostics Market

  • Europe, by Country
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe 
  • Europe, by Technology
  • Europe, by Application
  • Europe, by Cancer Type
  • Europe, by Function

Asia Pacific Next Generation Cancer Diagnostics Market

  • Asia Pacific, by Country
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific 
  • Asia Pacific, by Technology
  • Asia Pacific, by Application
  • Asia Pacific, by Cancer Type
  • Asia Pacific, by Function

Middle East and Africa Next Generation Cancer Diagnostics Market

  • Middle East and Africa, by Country 
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of Middle East and Africa
  • Middle East and Africa, by Technology
  • Middle East and Africa, by Application
  • Middle East and Africa, by Cancer Type
  • Middle East and Africa, by Function

South America Next Generation Cancer Diagnostics Market

  • South America, by Country 
    • Brazil
    • Argentina
    • Rest of South America
  • South America, by Technology
  • South America, by Application
  • South America, by Cancer Type
  • South America, by Function

Major Companies: In this report, the major companies studied are: Cepheid, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd, Qiagen, Novartis AG, Abbott, Thermo Fisher Scientific, Inc., Opko Health, Inc., Myriad Genetics, Inc., Agilent Technologies, GE Healthcare, PerkinElmer, Inc., Genomic Health, Inc., Illumina, Inc., Hologic, Inc., Almac Group, Janssen Global Services, LLC, and Sysmex Corporation.

Objectives of this Report:

  • To estimate the market size for the next generation cancer diagnostics market on a regional and global basis
  • To identify major segments in the next generation cancer diagnostics market and evaluate their market shares and demand
  • To provide a competitive scenario for the market with major developments observed by the key companies in the historic years
  • To evaluate the key factors governing the dynamics of the next generation cancer diagnostics market with their potential gravity during the forecast period
  • To evaluate the leading company-wise pricing analysis for the mentioned applications

Key Questioned Answered in the Study:

  • What are major growth drivers and market trends that are impacting the global next generation cancer diagnostics market?
  • What is the market size both in terms of value and volume for the global next generation cancer diagnostics market?
  • Who are the leading market players and who are the new market players that operate in the global market with an estimated market share?
  • What are the future investment pockets and opportunities in the global next-generation cancer diagnostics market?
  • Major list of customers and potential futuristic customer list along with an estimated buying volume
  • Impact of COVID-19 on the global next-generation cancer diagnostics market

Customization:

This study is customized to meet your specific requirements:

  • By sub-segment
  • By client-specific country, type, and application market analysis
  • Pricing analysis along with the potential list of customers
  • Product-specific competitive analysis

For more information, contact: [email protected]

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