Next Generation Cancer Diagnostics Market Key Trends, Top Manufacturers and Competitive Strategies, 2024

 The global Next Generation Cancer Diagnostics Market research report provides complete insights on industry scope, global trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready, data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development. 

Market Overview: 

Global next generation cancer diagnostics market size was worth USD 4,964.05 million in 2016 which is anticipated to grow at a CAGR of more than 9.7% over the forecast period. Rise in mortality rate due to the increasing occurrence of the cancer, second most predominant disease accounting for approximately 8.8 million deaths in 2015 is anticipated to escalate the market for these tests. 

Key Players:

• Janssen Global Services, LLC
• Novartis AG
• Hoffmann-La Roche Ltd
• Koninklijke Philips N.V.
• Abbott 

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Growth Drivers: 

Advancements in tests enable early diagnosis and assist efficient detection of different types of tumors which in turn is expected to promote growth over the projected period. The introduction of new products by large bodies, merger, and acquisitions, and joint agreements such as the development of RNA-Seq Kit version by Agilent Technologies Inc. and Agendia Inc. are the factors accountable for the estimated CAGR.

An escalation in the development of companion diagnostics in order to deliver advanced and personalized genomic medicine is also responsible for progress in the coming years. 

Application Outlook: 

• Biomarker Development
• CTC Analysis
• Proteomic Analysis
• Epigenetic Analysis
• Genetic Analysis 

Technology Outlook: 

• Next Generation Sequencing
• qPCR & Multiplexing
• Lab-on- a- chip (LOAC) & Reverse Transcriptase-PCR (RT-PCR)
• Protein Microarrays
• DNA Microarrays 

Regional Insights: 

The next generation cancer diagnostics market is dominated by North America with approximately 40% market share. Favorable government initiatives such as launch of “80% by 2018” program for detection of colon cancer is anticipated to propel progress in the coming years. 

Asia Pacific is anticipated to be the fastest developing region. Factors such as economic augmentation, higher investments, and greater untapped market are accountable for the fastest growth of resign in diagnosis sector. 

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