Clinical Oncology Next Generation Sequencing Market Size Worth USD 2,208.79 Million by 2034 | CAGR: 16.58%

The Clinical oncology next generation sequencing (NGS) market size is expected to reach USD 2,208.79 million by 2034, according to a new study by Polaris Market Research. The report “Clinical Oncology Next Generation Sequencing Market Share, Size, Trends, Industry Analysis Report By Technology (Whole Genome Sequencing, Whole Exome Sequencing), By Workflow, By Application, By End Use, By Region; Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Clinical oncology next generation sequencing (NGS) is a high-throughput genomic technology that enables comprehensive analysis of tumor DNA and RNA to identify cancer-driving mutations, copy number variations, gene fusions, and other molecular alterations. This technology is revolutionizing precision oncology by allowing clinicians to identify actionable molecular targets, predict treatment responses, and monitor disease progression with unprecedented accuracy.

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Next generation sequencing fuels cancer research by identifying novel biomarkers and enrolling patients in genotype-matched clinical trials. Despite its transformative potential, the technology faces challenges such as tumor heterogeneity, data interpretation complexity, and cost barriers. However, advancements in single-cell sequencing, long-read technologies, and artificial intelligence are enhancing NGS accuracy and accessibility, driving market growth.  

Top of FormClinical Oncology Next Generation Sequencing Market Report Highlights

• In terms of technology, the targeted sequencing & resequencing segment accounted for 64.93% of market revenue share in 2024 due to its cost-effectiveness, high depth of coverage, and ability to focus on specific genes or genomic regions.
• Based on workflow, the sequencing segment held 57.03% of market revenue share in 2024 due to a surge in demand for high-throughput, accurate, and cost-efficient platforms capable of analyzing cancer genomes with increased precision.
• In terms of application, the companion diagnostics segment led the market in 2024 by capturing 71.83% revenue share. This dominance is attributed to the rising number of FDA-approved cancer drugs with associated genetic biomarkers.
• Based on end use, the clinics segment is projected to register a CAGR of 19.21% in the coming years, owing to the shift toward decentralized testing and point-of-care diagnostics.
• North America accounted for a 44.16% share of the global clinical oncology next generation sequencing (NGS) market in 2024. This dominance is attributed to the high prevalence of cancer, advanced healthcare infrastructure, and strong adoption of precision medicine.
• The market in Europe is projected to hold a substantial market share in 2034, owing to increasing cancer cases, supportive government policies, and rising investments in genomic medicine.
• The market in Asia Pacific is expected to register the highest CAGR during the forecast period, owing to the rising cancer burden, improving healthcare access, and increasing investments in genomics.
• A few global key market players include Agilent Technologies; Eurofins Scientific S.E.; F. Hoffmann-La Roche Ltd.; Illumina, Inc.; Myriad Genetics; Oxford Nanopore Technologies Ltd.; Pacific Bioscience; Perkin Elmer; Qiagen N.V.; and Thermo Fisher Scientific.

Polaris Market Research has segmented the clinical oncology next generation sequencing market report on the basis of technology, workflow, application, end use, and region:

By Technology Outlook (Revenue, USD Million, 2020–2034)

• Whole Genome Sequencing
• Whole Exome Sequencing
• Targeted Sequencing & Resequencing

By Workflow Outlook (Revenue, USD Million, 2020–2034)

• Pre-Sequencing
• Sequencing
• Data Analysis

By Application Outlook (Revenue, USD Million, 2020–2034)

• Screening
  • Sporadic Cancer
  • Inherited Cancer
• Companion Diagnostics
• Other

By End Use Outlook (Revenue, USD Million, 2020–2034)

• Hospitals
• Clinics
• Laboratories

By Regional Outlook (Revenue, USD Million, 2020–2034)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America