The India Oncology Next-Generation Sequencing (NGS) Market has emerged as a pivotal force in revolutionizing cancer care by offering deeper insights into the genetic underpinnings of cancer and facilitating personalized treatment approaches. According to the latest TechSci Research report titled “India Oncology NGS Market –Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028,” the global market stood at USD 2.02 Billion in 2022 and is anticipated to grow at a robust CAGR of 7.89% during the forecast period of 2024-2028. This comprehensive report delves into the intricate dynamics of the India Oncology NGS Market, shedding light on key drivers, challenges, and opportunities shaping its trajectory.
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Key Drivers of Market Growth:
- Alarming Increase in Cancer Cases: The exponential rise in cancer incidence across India is a primary driver fueling the demand for oncology NGS solutions. Factors such as lifestyle changes, environmental pollution, and an aging population contribute to the surge in cancer cases. According to the World Cancer Research Fund, India is expected to witness a staggering 12% annual increase in cancer cases, with cancer projected to become the leading cause of mortality in the country. This escalating cancer burden underscores the critical need for advanced diagnostic tools like NGS to enable early and accurate detection, prognosis, and treatment guidance.
- Precision Medicine Paradigm: Precision medicine has emerged as a game-changer in oncology, aiming to tailor medical treatment to the genetic makeup of individual patients. NGS technology plays a pivotal role in enabling precision medicine by facilitating comprehensive genomic profiling of cancer patients. By identifying specific genetic mutations and alterations in tumors, oncologists can discern the most suitable targeted therapies, immunotherapies, and personalized treatment options. The increasing adoption of precision medicine principles drives significant demand for oncology NGS solutions.
Technological Advancements Driving Market Growth:
NGS technology has witnessed rapid evolution, characterized by continuous advancements and cost reductions, rendering it more accessible to a broader segment of the Indian population. The enhanced accuracy, speed, and cost-effectiveness of NGS platforms have been instrumental in driving market growth. Moreover, simplified and user-friendly NGS workflows have democratized access to NGS-based cancer profiling, empowering laboratories with varying levels of expertise to adopt NGS technology.
Segmentation and Regional Analysis:
- Technology Segmentation: The India Oncology NGS Market is segmented into Whole Exome Sequencing (WES) and Whole Genome Sequencing (WGS). WES emerged as the dominant segment in 2022, owing to its focused approach in capturing genetic alterations within the exons of genes, where many cancer-related mutations are concentrated. WES simplifies the analysis process by concentrating on coding regions, thereby streamlining the interpretation of results, especially in a clinical context.
- Application Segmentation: Companion Diagnostics emerged as the dominant player in 2022, contributing to cost savings in healthcare by matching the right treatment to the right patient, thereby reducing overall healthcare expenditure and patient burden. The increased emphasis on precision medicine has led to the incorporation of Companion Diagnostics in clinical trials to identify patient subpopulations likely to benefit from investigational treatments.
- Regional Analysis: The North region emerged as the dominant player in 2022, holding the largest market share. The northern region, encompassing major cities like Delhi, NCR (National Capital Region), and Chandigarh, boasts advanced healthcare infrastructure and facilities. Renowned institutions such as All India Institute of Medical Sciences (AIIMS) in Delhi and Post Graduate Institute of Medical Education and Research (PGIMER) in Chandigarh have been pivotal in driving the adoption of NGS for cancer diagnosis and personalized treatment.
Competitive Analysis:
The India Oncology NGS Market is characterized by intense competition, with key players striving to gain market share by offering innovative solutions and expanding their geographical presence. Companies such as Siemens Healthiness, Illumina, Inc., and Thermo Fisher Scientific Inc. are at the forefront of technological advancements, driving market growth through product innovations and strategic collaborations.
Benefits of the Research Report:
- Comprehensive Market Insights: Gain comprehensive insights into key market trends, drivers, and challenges shaping the India Oncology NGS Market.
- Competitive Analysis: Understand the competitive landscape and identify strategic opportunities for growth and differentiation in the market.
- Strategic Recommendations: Leverage actionable recommendations to capitalize on emerging market trends and drive sustainable growth.
- Regional Analysis: Explore regional dynamics and market trends to tailor strategies and offerings to specific market segments.
- Market Forecast and Opportunity Analysis: Access reliable market forecasts and identify growth opportunities to make informed business decisions and stay ahead of the competition.
The India Oncology NGS Market presents immense growth potential driven by the alarming increase in cancer cases, adoption of precision medicine principles, and technological advancements in NGS technology. By leveraging insights from the TechSci Research report, industry stakeholders can navigate market complexities, drive innovation, and achieve sustainable growth in the oncology NGS market, ultimately advancing precision oncology and improving patient outcomes.
Major companies operating in Global India Oncology NGS Market are:
- Illumina, Inc
- Genotypic Technology Pvt Ltd
- Tecan Trading AG
- Xcelris Genomics
- Eurofins Scientific Inc.
- Sayre Therapeutics
- Redcliffe Lifesciences
- Partek Inc.
- Bio-Rad Laboratories
- Myriad Genetics
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“The India Oncology NGS Market is poised for robust growth in the coming years, driven by several compelling factors. The market is expected to expand as advancements in NGS technology continue to make it more accessible and affordable. The rising incidence of cancer, the adoption of precision medicine, government initiatives to improve healthcare infrastructure, private sector participation, and increasing awareness about the benefits of NGS in oncology are all contributing to this positive trajectory. Furthermore, the versatile applications of NGS, particularly in the areas of mutation profiling, liquid biopsy, and companion diagnostics, are expected to bolster the market’s expansion.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“India Oncology NGS Market Segmented By Technology (Whole Genome Sequencing, Whole Exome Sequencing, Targeted & Gene Panel Sequencing), By Application (Diagnostics and Screening, Companion Diagnostics, Other Diagnostics) By Region and Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of Global India Oncology NGS Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global India Oncology NGS Market.
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