One of the most important factors, which is expected to have a significant impact on clinical oncology NGS market, is that how much and to what extent the growth of personalized medicine will enhance adoption of NGS in the coming years. The exponentially decreasing cost of sequencing whole genomes with the subsequent technological advancement of precision medicine in a way replicates Moore’s law for semiconductors in the field of life sciences. Owing to this reduction in prices, NGS will witness a growth in demand in applications of clinical diagnostics in cancer. Depending upon the development of regulatory framework for safety and efficacy of NGS-based lab tests and increasing clinical investigation data on disease-heterogeneity, it is expected that growth in demand for precision medicine is expected to have a pull effect for the U.S. oncology next generation sequencing market over the forecast period.
This industry is marked by high competition between the dominant players, strategies adopted include the launch of novel platforms that are rapid, small with respect to size, and less expensive to enhance market presence. Furthermore, companies are increasing the installation base by providing the sequencing services in different countries of Latin America and Asia Pacific. These players are also involved in capitalizing on the product development and marketing in order to maintain significant share of the industry. Acquisition of the smaller entities operating in the market is also one of the strategic initiatives adopted by the players in order to maintain market presence.
Translation of the obtained sequenced data into conclusive biological insights is of utmost importance, which can be carried out by efficient data management tools. Decreasing cost of sequencing and increasing number of sequence reads being generated are placing greater demand on the computational resources and knowledge necessary to handle sequence data. Sequencing platform installation involves the large-fixed cost associated with purchasing of a machine followed by low variable costs for actual running of the machine. On the contrary, cloud computing and its associated concepts, such as platform, software, and infrastructure as a service, remove the need for such large initial fixed-cost investment. However, the variable costs associated with access to cloud computing are found to be significantly higher, thereby restraining the adoption rate of NGS technique in the clinical settings and diagnostic laboratories. Absence of data management and abstraction tools with the following parameters is attributive for impeding the implementation of NGS based data for translational research in clinical oncology.
This section will provide insights into the contents included in this u.s. clinical oncology next generation sequencing market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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