The global Clinical Oncology Next Generation Sequencing Market size is expected to reach USD 1.16 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.7% from 2023 to 2030. The clinical oncology next generation sequencing (NGS) market is in high demand. It is projected to expand at an increasing rate throughout the forecast period owing to the rising healthcare expenditure triggering the development of effective personalized medicine & therapeutic procedures for cancer and increasing adoption of NGS. The increasing healthcare expenses and the launch of effective cancer treatments are expected to fuel market growth over the forecast period. A study published by the JAMA network in February 2023 estimated that the cost of cancer treatment can reach up to USD 25 trillion globally over the 30 years from 2020-2030. The comparative contribution of treatment expenses to the total economic expense of cancers was found to be more significant in high-income nations than in low-income nations. Moreover, various treatment techniques are being developed and utilized to diagnose and treat cancer. According to the study published by Wiley in January 2023, technological advances that are being used to develop new diagnostic techniques include image reconstruction software, imaging devices, hardware, biomarkers, and artificial intelligence algorithms, thereby delivering a reliable analysis and diagnosis of the tumor. Furthermore, the growth of the clinical oncology next-generation sequencing market during the forecast period is propelled by the rise in the adoption of NGS over single gene testing. Many studies demonstrated that NGS is cost-effective and efficient over single gene testing. For instance, a study published by JCO Precision Oncology in March 2023 concluded that the adoption of NGS in Spanish reference centers to diagnose patients with NSCLC could be a cost-effective strategy over single gene testing. In addition, the study given by the National Library of Medicine in January 2023, suggests that the current NGS over sequential single-gene testing can slightly reduce annual costs. However, embracing NSG over SSG testing can decrease the average turnaround time, facilitating quicker identification of genomic alterations and early initiating therapy for small cell lung cancer patients in Japan. These factors are expected to drive the market over the forecast period. List of Key Players of Clinical Oncology Next Generation Sequencing (NGS) Market
Clinical Oncology Next Generation Sequencing Market Report Highlights
Details Market size value in 2023 USD 419.6 million Revenue forecast in 2030 USD 1.16 billion Growth rate CAGR of 15.7% from 2023 to 2030 Base year for estimation 2022 Historical data 2018 - 2021 Forecast period 2023 - 2030 Clinical Oncology Next Generation Sequencing Market Segmentation Grand View Research has segmented the global clinical oncology next generation sequencing market based on technology, workflow, application, end use, and region: Clinical Oncology Next Generation Sequencing (NGS) Technology Outlook (Revenue, USD Million, 2018 - 2030)
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The global Dermatoscope Market size is expected to reach USD 2.0 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 12.1% during the forecast period. Dermatoscopy plays a vital role in screening for skin cancer, which has resulted in the early detection and identification of pigmented lesions. Benign pigmented moles possess a certain risk of developing melanoma. The incidence of several skin conditions has increased during the COVID-19 pandemic. Contact dermatitis, pressure urticaria, pressure injury, itching, seborrheic dermatitis, acne, and worsening of pre-existing skin diseases. The Dermatology Practical & Conceptual conducted a survey on 678 dermatologists to investigate the impact of the coronavirus disease 2019 outbreak on the daily practice of dermatologists working with skin cancer patients. This survey stated that there was a 75% reduction in daily work activity and 118 dermatologists experienced telemedicine for the first time. However, with the ease in the restrictions, the aesthetic industry is again witnessing lucrative growth rate. Skin cancer is a chronic disease affecting a large population of the world. The rising incidence of melanoma and nonmelanoma skin cancers is providing an upthrust to the market. Certain moles, such as giant congenital pigmented hairy moles, are at high risk of developing melanoma. This has boosted the need for effective diagnosis with dermatoscopes. Early detection of skin cancer has been proven to be very useful in its effective treatment. Hence, a rising number of awareness campaigns is estimated to fuel the demand for dermatoscopes, which is anticipated to propel the market. Earlier, the usage of these technologically advanced devices was limited to the detection of noninvasive melanoma. However, with technological advancements, their application has widened to the advanced diagnosis of various skin disorders. North America region is currently the dominant region in terms of market share in dermatoscopes market. High prevalence of skin diseases, the presence of advanced healthcare infrastructure, presence of medical device manufacturers, and huge economic development are some of the major factors propels the North America dermatoscopes market. Related Press Release@ Dermatoscope Market Report Dermatoscope Market Report Highlights
Grand View Research has segmented the global dermatascope market based on product, technology, modality, end-use, and region: Dermatoscope Product Outlook (Revenue, USD Million, 2018 - 2030)
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