Next Generation Cancer Diagnostics Market Worth $11.04 Billion By 2024

The global next generation cancer diagnostics market is anticipated to reach USD 11.04 billion by 2024, according to a new report by Grand View Research, Inc. Key drivers for this vertical include rising advancement in genomics and proteomics-based research coupled with increasing prevalence of oncology disorders.

Rise in number of oncological research projects to elucidate tumorigenesis and the underlying mechanisms, consequently raising the demand for serial sampling, diagnosis, and therapeutic manipulation, is a growth rendering driver of this market.

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Further Key Findings from the Study Suggest:

• The qPCR & multiplexing segment captured the largest market share in 2015 owing to the presence of a wide product portfolio serving numerous applications in oncology R&D

• Next generation sequencing services and solutions for oncology applications are anticipated to be the fastest growing segment

• Oncology diagnostics in biomarker discovery is expected witness growth as it subsequently facilitates drug designing and identification of novel targets against tumors

• On the basis of cancer type, this vertical is segmented into lung, breast, colorectal, cervical, and other forms of cancer

• Research projects to establish the therapeutic index of anticancer cytotoxic drugs are one of the key factors responsible for expected growth

• North America dominated the market with respect to revenue generation in 2014 due to concerted efforts directed toward the development of next generation sequencing technology and companion diagnostics in personalized medicine

• Some of the key players contributing significantly to the next generation cancer diagnostics market are Novartis AG; Cepheid; Hoffman La Roche Ltd.; PerkinElmer, Inc.; Sysmex Corporation; Abbott; Thermo Fisher Scientific, Inc.; Koninklijke Philips N.V.; Agilent Technologies; Illumina, Inc.; Genomic Health, Inc.; Qiagen; Janssen Global Services, LLC; Hologic, Inc.; Myriad Genetics, Inc.; Almac Group; Opko Health, Inc.; and GE Healthcare.

Grand View Research has segmented the next generation cancer diagnostics market on the basis of technology, application, cancer type, function, and region:

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