DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Next Generation Cancer Diagnostics Market Size & Forecasts By Technology (NGS, LOAC & RT-PCR), By Application (CTC, Biomarker), By Cancer Type (Lung, Breast), By Function Companion Diagnostics, And Trend Analysis, 2013 - 2024" report to their offering.
The global next generation cancer diagnostics market is anticipated to reach USD 11.04 billion by 2024. Key drivers for this vertical include rising advancement in genomics and proteomics-based research coupled with increasing prevalence of oncology disorders.
A rise in the 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.
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
Market driver analysis
- Exponentially decreasing cost of genetic sequencing
- Development of cluster chip technology and potential applications of CTC in cancer management
- Rising demand for preventive medicine & companion diagnostics
- Growing cancer incidence
Market restraint analysis
- Requirement of expensive laboratory set-up for implementation of novel tests
Some of the key players contributing significantly to the next generation cancer diagnostics market are
- Janssen Global Services, LLC
- Novartis AG
- F. Hoffmann-La Roche Ltd
- Koninklijke Philips N.V.
- GE Healthcare
- Thermo Fisher Scientific, Inc.
- Agilent Technologies (Dako)
- Illumina, Inc.
- Opko Health, Inc.
- Hologic, Inc (Gen-Probe)
- Perkin Elmer, Inc.
- Sysmex Corporation
- Myriad Genetics, Inc.
- Almac Group
- Exosome Diagnostics, Inc.
- Genomic Health, Inc.
For more information about this report visit http://www.researchandmarkets.com/research/l66b52/next_generation