The global next-generation cancer diagnostics market was valued at over USD 4.38 billion in 2015 and is anticipated to experience significant growth over the forecast period. Rising incidence of oncology diseases is anticipated to drive the demand for next-generation cancer diagnostic tests. These tests are expected to facilitate early diagnosis and enable efficient prognosis of various forms of cancer, which in turn, is expected to positively influence the progress of this vertical over the forecast period.
Development and introduction of product offerings by a number of large entities is a significant factor expected to provide lucrative growth avenues to this market. With accelerating the development of companion diagnostics for their implementation in delivering personalized and advanced genomic medicine, the market is characterized by potentially high-value avenues and opportunities for growth over the forecast period.
The U.S. Next generation cancer diagnostics market share, by Technology Type, 2013-2024
Active participation of global organizations, such as the National Cancer Institute, Cancer Research Institute, National Foundation for Cancer Research, and Cancer Research UK, are supportive of the projected sector progress.
Further advancement of diagnostic laboratories and adoption of integrated and automated lab systems are also expected to fuel the demand for advanced workflow systems and boost revenue generation over the forecast period.
Moreover, the shift from traditional laboratory testing to rapid point-of-care testing will support market expansion owing to expected commercialization of the technologically advanced range of products including diagnostic kits, instruments, and reagents.
Key technologies analyzed in this study are DNA microarrays, protein microarrays, qPCR, NGS sequencing, and lab-on-a-chip (LOAC) device with Reverse Transcriptase Polymerase Chain Reaction (RT-PCR) technology. The advantages, comprising detection of gene duplications or deletions, melting curve analysis for identification of mutations, and qPCR technology for tumor profiling in clinical laboratories, are supportive of the sizable share captured by the qPCR and multiplexing segment.
PCR-based methods, relative to traditional testing procedures are also found to be more cost-effective, which is a key driver rendering growth to this segment.
DNA and protein microarrays are anticipated to witness a reduction in their usage rate as a result of a positive shift in the preference rate for NGS-based technology. Technological advances in NGS systems and the development of supportive library preparation protocols and data interpretation tools have contributed to the rising popularity of this technology amongst research entities. Market sentiments analysis as published by certain major market entities has also mentioned that DNA microarrays are expected to lose a major part of their market share to NGS-based diagnostics over the coming decade.
Owing to the fact that biomarker tests have exhibited accuracy levels as high as 90% in investigational studies and provided enhanced sensitivity in tumor screening, it is expected that in the coming years, this segment will experience significant growth in its demand throughout the forecast period.
Rise in a number of research projects for the development of innovative tools and solutions that facilitate early detection of tumor-causing mutations is anticipated to influence substantial growth of genetic analysis for oncology diagnostics over the forecast period.
Depending on the site of tumor development, the cancer types are majorly categorized as the following: breast, cervical, colorectal, lung, and other cancer forms. The other cancer types segment constitutes leukemia, bladder, brain, skin, uterine, Non-Hodgkin lymphoma, esophageal, liver, ovarian, prostate, and thyroid.
In terms of revenue generation, lung tumor was pegged as the second-largest cancer type following other forms in 2015 because of a comparatively higher number of research projects and patent applications filed in this segment. Furthermore, lung cancer has the highest prevalence at a global level and therefore warrants a larger section of the market to cater to the huge patient base. However, breast oncology disorders are expected to witness considerable growth over the forecast period owing to a rise in its incidence rate that would augment the demand for diagnostic and screening technologies.
As per the function, next-generation cancer diagnostics space is broadly classified into risk analysis, tumor screening, prognostic based diagnosis, therapeutic monitoring, & companion diagnostics.
Global next-generation cancer diagnostics market, by application, 2015 (USD Million)
The prognostic diagnostics segment is projected to register substantial growth over the forecast period due to the fact that the prognosis of cancer varies from patient to patient and plays a crucial role in designing cancer therapies and protocols for chemotherapy, radiation-based treatment, and gene therapy.
North America dominated the next-generation oncology diagnostics industry with a revenue share of over 40%. The launch of favorable government initiatives such as the “80% by 2018” movement for colon cancer detection is expected to boost the market over the forecast period. In this movement, over 170 organizations including government health departments, medical professional societies, cancer coalitions, and health departments are working to achieve the shared goal of reaching 80% screening for oncology disorders by 2018 and have committed toward the eradication of oncology diseases.
Asia Pacific is expected to be one of the fastest-growing regions of this sector and is projected to grow at a lucrative rate. Factors accounting for faster growth include a largely untapped market base, which has exhibited technological advancement in healthcare research over the latter half of the past decade. Considerably higher investments in healthcare research and economic enhancement of these regions are further expected to enhance the market potential over the forecast period.
Key market contributors present in the next generation cancer diagnostics market include 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.
Market participants are involved in undertaking geographic expansion strategies by providing clinical testing facilities in untapped regions. Additionally, participants are involved in gaining reimbursement coverage to increase patient accessibility to precision medicine. For instance, in October 2015, Medicare in the U.S. initiated the reimbursement process for Oncotype Dx, a prostate cancer test.
Base year for estimation
Actual estimates/Historical data
2013 - 2015
2016 - 2024
Revenue in USD Million & CAGR from 2016 to 2024
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Revenue forecast, company share, competitive landscape, growth factors and trends
15% free customization scope (equivalent to 5 analyst working days)
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the next generation cancer diagnostics market on the basis of technology, applications, function, cancer type, and region:
Technology Outlook (Revenue, USD Million; 2013-2024)
qPCR & Multiplexing
Lab-on- a- chip (LOAC) & Reverse Transcriptase-PCR (RT-PCR)
Application Outlook (Revenue, USD Million; 2013-2024)
Cancer Type Outlook (Revenue, USD Million; 2013-2024)
Function Outlook (Revenue, USD Million; 2013-2024)
Regional Outlook (Revenue, USD Million; 2013-2024)
Middle East & Africa
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Biopharmaceutical innovators are at the forefront of the human response to the coronavirus pandemic. A significant number of major biotech firms are in the midst of a race to investigate the Sars-Cov-2 genome and prepare a viable vaccine for the same. As compared to the speed of response to SARS/MERs etc, the biotech entities are investigating SARs-Cov-2 at an unprecedented rate and a considerable amount of funds are being put into the R&D. With multiple candidates in trial, the public and private sectors are anticipated to work in unison for the foreseeable period, until a vaccine is developed for Covid-19. The report will account for Covid19 as a key market contributor.