Next Generation Cancer Diagnostics Market New Era Of Industry & Forecast 2018-2028
                     The next generation cancer diagnostics market is projected to grow at a CAGR of 
17.80%, with estimated market size of USD 11.1 billion in 2021 to USD 29.7 billion by 
2028. As oncology illnesses become more common, there will be a greater need for next-
generation cancer diagnostic technologies. These tests should help with early cancer 
identification and enable accurate prognosis, which should have a beneficial effect on the 
growth of this vertical over the predicted year. The creation and introduction of product 
offerings by various significant organizations is one important factor projected to open up 
profitable growth potential for this industry. The market is expected to have potentially high-
value growth avenues and possibilities throughout the forecast period due to the expanding 
development of companion diagnostics to deliver tailored and enhanced genetic therapies. 
Furthermore, over the projection period, it is anticipated that the continued development of 
diagnostic laboratories and the adoption of integrated and automated lab systems will fuel 
demand for improved workflow systems and increase revenue creation. 
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Next Generation Cancer Diagnostics Market Dynamics 
 
Drivers: Increasing cancer cases 
 
In many nations, cancer outranks other illnesses, including coronary heart disease and stroke, 
as the main cause of mortality. Worldwide mortality has improved due to next-generation 
cancer diagnostic technologies that assist illness prevention and early disease detection. 
Furthermore, during the projected period, it is also anticipated that improvements in 
diagnostic laboratories and the introduction of integrated and automated lab systems will fuel 
demand for advanced workflow systems and boost revenue. Rapid point-of-care testing will 
also help the market grow. It is anticipated to enable the commercialization of various 
technologically cutting-edge items like diagnostic kits, devices, and reagents. 
 
Restraints: Lack of skilled professionals 
 
The development of the global enhanced ambulatory patient grouping software market over 
the forecast period may be restrained by a shortage of competent professionals who cannot 
apply these diagnostic procedures. Additionally, despite the increased prevalence of patients, 
the high cost of these screening tests may restrain the growth of the global market for next-
generation cancer diagnostics. 
 
Opportunities: Increase in the geriatric population 
 
Throughout the forecast period, a lack of qualified specialists who can use these diagnostic 
techniques may hinder the growth of the global enhanced ambulatory patient grouping 
software market. The high cost of these screening tests may further limit the expansion of the 
global market for next-generation cancer diagnostics, notwithstanding the rise in the number 
of patients. Additionally, features such as the qPCR technology for tumor profiling in clinical 
laboratories, detection of gene duplications or deletions, and melting curve analysis for 
mutation identification are driving the market's expansion. 
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release/2022/11/10/2553360/0/en/Next-Generation-Cancer-Diagnostics-Market-Size-to-
Garner-29-7-billion-by-2028-with-17-80-CAGR-Latest-Industry-Insight-by-Markets-N-
Research.html 
 
The biomarker category is estimated to be the largest growth in the steam engine 
market during the forecast period 
 
The biomarker category dominated the market. It is anticipated that this market will witness 
considerable growth in demand over the next several years because biomarker testing has 
shown accuracy levels upto 90% in investigational studies and has given enhanced sensitivity 
in tumor screening. Over the projection period, it is projected that an increase in research 
initiatives to create novel tools and solutions that assist the early detection of tumor-causing 
mutations will significantly impact the growth of genetic analysis for oncology diagnostics. 
 
Lung cancer is estimated to be the largest growing market category during the forecast 
period 
 
The lung cancer segment is projected to grow the fastest during the forecast period because 
the segment has a comparatively higher number of research projects and patent applications. 
The highest incidence of lung cancer globally also calls for a larger market share to 
adequately serve the vast patient population. Breast oncology issues are expected to increase 
significantly throughout the projected period. Nevertheless, as a result of higher incidence 
rates will boost the need for diagnostic and screening tools. 
 
The North American segment is estimated to be the largest growing market during the 
forecast period 
 
North America is the largest next generation cancer diagnostics market and is projected to 
grow at the fastest rate during the forecast period. Cancer is the second-leading cause of 
mortality in Canada and the USA, behind heart disease. As a result of numerous actions taken 
in response to the region's rising cancer incidence rate, tactics for early detection, screening, 
and detection have been strengthened through numerous projects. High-end healthcare 
facilities, laboratory infrastructure, robust government regulations, and aggressive support for 
early cancer detection, diagnosis, and treatment are all the US healthcare system features. 
Among the major actions done by the American government in the fight against cancer are 
the declaration of March 2021 as National Cancer Control Month and the restart of the 
Cancer Moonshot in February 2022. 
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https://marketsnresearch.com/report/1571/global-next-generation-cancer-diagnostics-market 
 
Key Market Players 
 
The next generation cancer diagnostics market is dominated by a few global players and 
comprises several regional players. Some key manufacturers operating in the market are 
Agilent Technologies, Inc., Abbott, BD, OPKO Health, Inc., F. Hoffmann-La Roche Ltd, 
GENERAL ELECTRIC COMPANY, Illumina, Inc, QIAGEN, BioGenex, Siemens 
Healthcare GmbH, bioMérieux SA, NeoGenomics Laboratories, Inc., Telerad Tech, 
BioNTech SE, Thermo Fisher Scientific Inc, Hologic Inc.,  Koninklijke Philips N.V., 
PerkinElmer Inc, Cepheid. 
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