PUBLISHER: Grand View Research | PRODUCT CODE: 1376005
PUBLISHER: Grand View Research | PRODUCT CODE: 1376005
The India oncology NGS market size is expected to reach USD 85.7 million by 2030, registering a CAGR of 17.4% from 2023 to 2030, according to a new report by Grand View Research, Inc.. 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.