Global Next Generation Cancer Diagnostics Market by Technology (LOAC & RT-PCR, NGS), by Application (Biomarker, CTC), by Cancer Type (Breast, Lung) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2015, the global market for next-generation cancer diagnostics was valued at more than USD 4.38 billion. This market is expected to grow significantly over the forecast period. The demand for next-generation tests for diagnosing cancer is expected to rise due to the rising incidence of oncology disorders. These tests will enable early diagnosis and efficient prognosis for various types of cancer. This is expected to positively impact the vertical's progress over the forecast period.

This market is expected to see lucrative growth opportunities due to the introduction and development of new product offerings by large companies. The market will see potential high-value opportunities and growth opportunities over the forecast period, thanks to the acceleration of the development and implementation of companion diagnostics in the delivery personalized and advanced genomic medicine.

Market share of the U.S. Next-Generation Cancer Diagnostics Market, by Technology Type, 2013-2024

The projected sector's progress is supported by active participation from global organizations such as the National Cancer Institute and the National Foundation for Cancer Research.

The forecast period will see continued advancements in diagnostic laboratories and the adoption of automated and integrated lab systems. This will increase the demand for workflow systems and revenue generation.

Market expansion will also be supported by the transition from traditional laboratory testing towards rapid point-of care testing. This is due to the expected commercialization and distribution of the technologically advanced products, including instruments and diagnostic kits.

Technology Insights

This study analyzed key technologies such as DNA microarrays and protein microarrays. These advantages include detection of gene duplications and deletions, melting curve analysis to identify mutations, and qPCR technology to profile tumors in clinical labs.

Comparable to traditional methods of testing, PCR-based methods are more cost-effective. This is a major driver for this market.

As a result, DNA and protein microarrays will see a decrease in usage. This technology is becoming more popular due to technological advances in NGS systems, the development of data interpretation tools and support protocols for library preparation. According to certain market analysts, DNA microarrays will lose a significant part of their market share to NGS diagnostics in the next decade.

Application Insights

Biomarker testing has shown high accuracy levels of up to 90% in research studies, and enhanced sensitivity for tumor screening. This segment is expected to experience significant growth over the next few years.

The forecast period will see a rise in the number of research projects that aim to develop innovative tools and solutions that enable early detection of cancer-causing mutations. This is expected to have a significant impact on the growth of genetic analysis for Oncology Diagnostics.

Cancer Types Information

The cancer types can be classified according to the location of the tumor. Other cancer types include leukemia, bladder and brain, skin, uterine Non-Hodgkin lymphoma (esophageal), liver, ovarian and prostate, as well as other cancers.

Because of the higher number of patent applications and research projects filed in this area, lung cancer was ranked second in terms of revenue generation in 2015. Lung cancer is the most prevalent type of cancer worldwide and warrants that a greater market segment be available to serve the large patient population. The demand for screening and diagnostic technologies is expected to increase in breast cancer disorders, which will see a significant rise in their incidence.

Function Insights

Next-generation cancer diagnostics space can be broadly divided into risk analysis and tumor screening, prognostic-based diagnosis, therapeutic monitoring & companion diagnostics.

Market for next-generation cancer diagnostics worldwide, according to application, 2015 (USD million)

Prognostic diagnostics is expected to grow significantly over the forecast period. This is due to the fact the prognosis for cancer varies from one patient to another. It plays an important role in the design of cancer therapies and protocols.

Regional Insights

North America was the dominant market for next-generation oncology diagnostics, accounting for more than 40% of its revenue. Market growth is expected to be boosted by the launch of government initiatives like the "80% by 2018," movement for the detection of colon cancer. Over 170 organizations, including government health departments and medical professional societies, as well as cancer coalitions and health departments, are part of this movement. They have all committed to achieving the common goal of screening for oncology disorders at 80% by 2018.

Asia Pacific is expected be the fastest-growing region in this sector, and it is expected to grow at an impressive rate. A large untapped market base that has seen technological advances in healthcare research over recent years is one factor accounting for the faster growth. The market potential will be further enhanced by significant investments in healthcare research and economic development of these regions over the forecast period.

Competitive Insights

Cepheid, Koninklijke Philips N.V., F. Hoffmann-La Roche Ltd., 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

Participants in the market are involved in implementing geographic expansion strategies, providing clinical testing facilities in under-tapped areas. Participants are also involved in gaining reimbursement coverage that will increase patient access to precision medicine. In the United States, Medicare began the reimbursement process for Oncotype Dx (a test for prostate cancer) in October 2015.

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional and country level. It also provides analysis of industry trends and potential opportunities for each sub-segment from 2013 through 2024. Grand View Research has divided the market for next-generation cancer diagnostics on the basis technology, applications, function and cancer type.

• Technology Outlook (Revenue USD Million; 2013-2024).

  • Next-Generation Sequencing

  • Multiplexing & qPCR

  • Lab-on-a-chip (LOAC), & Reverse Transcriptase PCR (RTPCR).

  • Protein Microarrays

  • DNA Microarrays

• App Outlook (Revenue USD Million; 2013-2024).

  • Biomarker Development

  • CTC Analysis

  • Proteomic Analysis

  • Epigenetic Analysis

  • Genetic Analysis

• The Cancer Type Outlook (Revenue USD Million; 2013-2024).

  • Lung Cancer

  • Breast Cancer

  • Colorectal Cancer

  • Cervical Cancer

  • Other

• 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

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

  • Middle East & Africa

    • South Africa

Up Market Research published a new report titled “Next Generation Cancer Diagnostics Market research report which is segmented by Technology (LOAC & RT-PCR, NGS), by Application (Biomarker, CTC), by Cancer Type (Breast, Lung), By Players/Companies Cepheid; Koninklijke Philips NV; F Hoffmann-La Roche Ltd; Qiagen; Novartis AG; Abbott; Thermo Fisher Scientific, Inc; Agilent Technologies; GE Healthcare; PerkinElmer, Inc; Genomic Health, Inc; Opko Health, Inc; Hologic, Inc; Myriad Genetics, Inc; Illumina, LLC; and Sysmex Corporation, Inc; Almac Group; Janssen Global Services”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Next Generation Cancer Diagnostics Market Report Segments:

The market is segmented by Technology (LOAC & RT-PCR, NGS), by Application (Biomarker, CTC), by Cancer Type (Breast, Lung).

Next Generation Cancer Diagnostics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Next Generation Cancer Diagnostics Market

Overview of the regional outlook of the Next Generation Cancer Diagnostics Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Next Generation Cancer Diagnostics Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Next Generation Cancer Diagnostics Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. LOAC & RT-PCR

                2. NGS

                1. Biomarker

                2. CTC

                1. Breast

                2. Lung

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Next Generation Cancer Diagnostics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Next Generation Cancer Diagnostics Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.