India oncology NGS market size to reach $70.60M by 2028

The “India Oncology NGS Market Size, Share & Trends Analysis Report by End-use, Technology, Application, Product & Service, Workflow, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.

The Indian oncology NGS market is expected to reach USD 70.60 million by 2028, registering a CAGR of 19.6% over the forecast period, according to the report.

The development of companion diagnostic assays for personalized medicine, growing adoption of sequencing platforms for cancer diagnosis, and increasing investment for the development of genomic databases are the key driving factors for market growth.

The increasing need for user-friendly sequencing workflows along with cost-effective solutions contribute to the rising adoption rate of this technology in India. The availability of the genome database for the Indian population eases the process of developing companion diagnostics & personalized medicine and offers access to stratified samples for the research. In addition, a rise in cancer incidence in India is expected to be a high impact rendering driver of the market. For instance, the WHO states that 851,678 deaths and over 1,324,413 cancer cases were registered in 2020 in India.

The COVID-19 pandemic had a cascading effect on the supply chain of next-generation sequencing and delayed various sequencing projects. For instance, Illumina experienced a shortfall in the supply of reagents’ raw materials and caused delays in reagents delivery by weeks, which is usually in days. Similarly, various Next Generation Sequencing (NGS)resources were pulled out from oncology development to the COVID-19 study.

Next-generation sequencing technology was able to screen multiple samples and identify the virus without prior inputs of the infection. It was further used for surveillance and epidemiological studies. Although oncology NGS was not a very active segment in COVID-19, the overall demand for NGS products will affect the price level in the market.

Market Report Highlights

• The targeted & gene panel sequencing segment held the major market share in 2020 as targeted panels offer economical solutions for providing actionable and clear information to the physicians
• The research studies segment occupied a major share of the applications in 2020 owing to the increasing usage of NGS technology for oncology research in India
• The diagnostics and screening segment is anticipated to grow at the fastest CAGR from 2021 to 2028 owing to increasing recommendations for oncology screening and the high adoption rate of NGS-based molecular diagnosis of cancer
• The platforms and related products segment are expected to account for the maximum revenue share by 2028. Ongoing research to evaluate the performance of various targeted NGS gene panels regarding their technical features and clinical utility is driving the adoption rate in this segment
• The sequencing segment led the market in 2020 and is estimated to expand further at the fastest growth rate from 2021 to 2028 as it is the most critical phase in the workflow
• The clinical research segment is expected to grow at the fastest CAGR from 2021 to 2028 owing to the use of NGS in cancer research and, more specifically, in the discovery of new cancer-related genes, studying tumor heterogeneity, and identification of alterations that contribute to tumorigenesis

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