U.S. clinical oncology next generation sequencing market is anticipated to reach USD 1.53 billion by 2024, according to a new report by Grand View Research, Inc. Application of NGS platform for clinical oncology are expected to grow at a steady pace under the influence of increasing adoption of NGS platforms in oncology R&D coupled with rising incidents of cancer.
Application of NGS based cancer diagnostics for screening and monitoring of oncogenes to understand the underlying mechanism behind causes of cancer is expected to boost growth of this vertical throughout the forecast period.
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Moreover, exponentially decreasing costs for sequencing have also spurred the demand for NGS platform in clinical oncology research as whole genome analysis has become affordable even by the smaller R&D entities. In addition, high competition amongst prominent market players to enhance their share in the market is also expected to translate into increased revenues generated by these companies as a result.
U.S. clinical oncology NGS market, 2013 – 2024 (USD Million)
Further key findings from the study suggest:
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Grand View Research has segmented U.S. clinical oncology NGS market on the basis of technology, workflow, and end-use:
U.S. Clinical Oncology NGS Outlook, by Technology (Revenue, USD Million, 2013 – 2024)
U.S. Clinical Oncology NGS Outlook, by Workflow (Revenue, USD Million, 2013 – 2024)
U.S. Clinical Oncology NGS Outlook, by End Use (Revenue, USD Million, 2013 – 2024)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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