29 January 2020 - Global Next
Generation Cancer Diagnostics Market
size was worth USD 4,964.05 million in 2016 which is anticipated to grow at a
CAGR of more than 9.7% over the forecast period. Rise in mortality rate due to
the increasing occurrence of the cancer, second most predominant disease
accounting for approximately 8.8 million deaths in 2015 is anticipated to
escalate the market for these tests.
Advancements
in tests enable early diagnosis and assist efficient detection of different
types of tumors which in turn is expected to promote growth over the projected
period. The introduction of new products by large bodies, merger, and
acquisitions, and joint agreements such as the development of RNA-Seq Kit
version by Agilent Technologies Inc. and Agendia Inc. are the factors
accountable for the estimated CAGR.
An
escalation in the development of companion diagnostics in order to deliver
advanced and personalized genomic medicine is also responsible for progress in
the coming years.
Furthermore,
the technological advancements driving the innovation in point-of-care testing
devices is anticipated to aid in commercialization of advanced products thereby
supporting revenue generation.
Technology Insights
Incorporation
of technological advancements such as melting curve examination for
identification of mutations, qPCR tools for profiling of tumor in clinical test
centers, and gene deletions are accountable for the largest share apprehended
by multiplexing and qPCR segment.
With
the development of next-generation sequencing technology, the use of
traditional methods such as protein and DNA microarrays is expected to decrease
through the years. Other factors such as data interpretation tools, growth of
supportive library preparation procedures, and technological advancements are
accountable for the lucrative adoption of next generation oncology tests among
researchers.
Cancer Type Insights
Major
categorization for the types of cancer includes cervical, breast, lung,
colorectal, and other tumor forms. The other types constitute leukemia,
prostate, bladder, brain, skin, uterine, esophageal, Non-Hodgkin lymphoma,
ovarian, liver, and thyroid.
In
2015, as per World Health Organization lung cancer was accountable for
approximately 1.7 million deaths. Moreover, breast cancer incidence is also
estimated to grow thereby escalating the demand for screening and diagnostic
technologies.
Application Insights
Growth
in the number of research schemes to develop novel products and services which
enable primary detection of tumor-causing mutations is expected to affect the
advancement in genetic analysis over the forecast period. Biomarker tests offer
greater sensitivity in screening and also demonstrate 90% accuracy levels in
investigational studies which is attributive to induce progress in the coming
years.
Function Insights
Risk
analysis, prognostic based diagnosis, tumor screening, therapeutic monitoring,
& theranostics are the different functions of next generation oncology
diagnostic tests.
The
prognostic diagnostics segment is anticipated to witness the fastest growth in
the coming years as a consequence of higher adoption of prognosis which plays
important role in designing oncology therapies and protocols for chemotherapy,
radiation-based treatment, and gene therapy.
Regional Insights
The
next generation cancer diagnostics market is dominated by North America with
approximately 40% market share. Favorable government initiatives such as launch
of “80% by 2018” program for detection of colon cancer is anticipated to propel
progress in the coming years.
In
this program, almost 170 groups including medical professional societies,
health departments, government health departments, and cancer coalitions are
functioning to accomplish the mutual goal of attaining 80% screening for
oncology diseases by 2018 and are working forward to eliminate the oncology
disorders.
Asia
Pacific is anticipated to be the fastest developing region. Factors such as
economic augmentation, higher investments, and greater untapped market are
accountable for the fastest growth of resign in diagnosis sector.
Competitive Insights
Major
entities functioning in the market include Novartis AG, Myriad Genetics Inc.,
Illumina Inc., Almac Group, Sysmex Corporation, F. Hoffmann-La Roche Ltd,
Agilent Technologies, Genomic Health, Almac Group, Koninklijke Philips N.V, and
Cepheid.
Market
players by offering clinical analysis amenities are implementing geographic
expansion strategies. Furthermore, reimbursement coverage plays an important
factor to increase the patient convenience to the precision drug. For example,
in October 2015, U.S., Medicare started the reimbursement procedure for a
prostate tumor type known as Oncotype DX.
Market Segment:
Technology Outlook (Revenue, USD
Million, 2013 - 2024)
• Next Generation Sequencing
• qPCR & Multiplexing
• Lab-on- a- chip (LOAC) & Reverse
Transcriptase-PCR (RT-PCR)
• Protein Microarrays
• DNA Microarrays
Application Outlook (Revenue, USD
Million, 2013 - 2024)
• Biomarker Development
• CTC Analysis
• Proteomic Analysis
• Epigenetic Analysis
• Genetic Analysis
Cancer Type Outlook (Revenue, USD
Million, 2013 - 2024)
• Lung Cancer
• Breast Cancer
• Colorectal Cancer
• Cervical Cancer
• Others
Function Outlook (Revenue, USD Million,
2013 - 2024)
• Therapeutic Monitoring
• Companion Diagnostics
• Prognostics
• Cancer Screening
• Risk Analysis
Regional Outlook (Revenue, USD Million,
2013 - 2024)
• North America
• U.S
• Canada
• Europe
• Germany
• France
• Asia Pacific
• Japan
• China
• Latin America
• Brazil
• Middle East & Africa
• South Africa
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