Next Generation Cancer Diagnostics

Next Generation Cancer Diagnostics

Global Next Generation Cancer Diagnostics Market to Reach US$64.6 Billion by 2030

The global market for Next Generation Cancer Diagnostics estimated at US$16.6 Billion in the year 2023, is expected to reach US$64.6 Billion by 2030, growing at a CAGR of 21.4% over the analysis period 2023-2030. qPCR & Multiplexing Technology, one of the segments analyzed in the report, is expected to record a 22.4% CAGR and reach US$28.2 Billion by the end of the analysis period. Growth in the Next Generation Sequencing Technology segment is estimated at 17.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$4.7 Billion While China is Forecast to Grow at 20.7% CAGR

The Next Generation Cancer Diagnostics market in the U.S. is estimated at US$4.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.9 Billion by the year 2030 trailing a CAGR of 20.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 19.0% and 17.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 14.5% CAGR.

Global Next Generation Cancer Diagnostics Market - Key Trends and Drivers Summarized

How Are Next Generation Cancer Diagnostics Revolutionizing Oncology?

Next Generation Cancer Diagnostics (NGCD) represent a leap forward in the field of oncology, offering advanced tools for early detection, accurate diagnosis, and personalized treatment of various cancers. These diagnostics encompass a broad range of technologies, including liquid biopsy, genomics, proteomics, and next-generation sequencing (NGS). Unlike traditional diagnostics, NGCDs provide detailed molecular insights, enabling oncologists to understand the genetic mutations and biomarkers that drive cancer progression. This precision enables targeted therapies, improving patient outcomes and reducing side effects. As the prevalence of cancer rises globally, NGCDs are playing a critical role in transforming cancer care by making it more personalized, faster, and more effective.

What Are The Key Segments in the Next Generation Cancer Diagnostics Market?

Key technologies include liquid biopsy, NGS, proteomics, and bioinformatics tools, with liquid biopsy and NGS gaining significant traction due to their non-invasive nature and ability to detect genetic alterations. In terms of applications, NGCDs are used in screening, diagnostic testing, and monitoring treatment response. Screening for early-stage cancers, such as breast, lung, and colorectal cancers, is a major application segment, where early detection significantly improves survival rates. Major end-users of NGCDs include hospitals, diagnostic laboratories, and research institutes, all of which are integrating these technologies into clinical workflows to enhance precision and efficiency in cancer management.

How Are NGCD Technologies Being Integrated Across Healthcare Sectors?

Hospitals and oncology centers are integrating NGCDs into routine cancer screening and diagnostic protocols, particularly for high-risk patients and those with hereditary cancer syndromes. Diagnostic laboratories use NGCDs to perform genomic and proteomic tests that aid in identifying specific mutations and treatment options, supporting precision medicine. Research institutes are leveraging these diagnostics to conduct clinical trials, study cancer genomics, and explore new drug targets. Pharmaceutical companies also collaborate with NGCD developers to identify biomarkers that predict drug efficacy, thereby improving drug development and accelerating clinical trials. Additionally, telehealth platforms are beginning to incorporate NGCDs for remote patient monitoring, making cancer diagnostics more accessible.

What Factors Are Driving the Growth in the Next Generation Cancer Diagnostics Market?

The growth in the Next Generation Cancer Diagnostics market is driven by several factors, including the increasing prevalence of cancer, which has heightened the demand for more effective screening and diagnostic tools. The shift toward personalized medicine, driven by advancements in genomics and proteomics, has further fueled the adoption of NGCDs. The rapid development of liquid biopsy technologies, coupled with improvements in NGS platforms, has enhanced diagnostic accuracy, making NGCDs indispensable in modern oncology. Regulatory approvals and government funding for cancer research and diagnostic innovation are also contributing to market growth. Additionally, the growing awareness of early cancer detection and the expansion of genetic testing services have increased the demand for NGCDs across healthcare sectors.

Select Competitors (Total 33 Featured) -

• Abbott
• Agilent Technologies
• Almac Group
• Cepheid
• F. Hoffmann-La Roche Ltd
• GE Healthcare
• Genomic Health
• Hologic
• Illumina
• Janssen Global Services
• Koninklijke Philips N.V
• Myriad Genetics
• Novartis AG
• Opko Health
• PerkinElmer
• Qiagen
• Sysmex Corporation
• Thermo Fisher Scientific

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