PUBLISHER: The Business Research Company | PRODUCT CODE: 1760650
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760650
Next-generation oncology devices and solutions encompass advanced technologies and tools developed to detect, diagnose, monitor, and treat various forms of cancer with enhanced precision and speed. Their goal is to facilitate personalized cancer care by utilizing innovations such as next-generation sequencing, digital pathology, and targeted therapies to improve patient outcomes.
The primary cancer types addressed by next-generation oncology devices and solutions include breast cancer, cervical cancer, colorectal cancer, and lung cancer. Breast cancer is a condition where cells in the breast grow uncontrollably, often forming a tumor that can be felt as a lump or identified through imaging. These solutions employ technologies such as next-generation sequencing (NGS), polymerase chain reaction (PCR), DNA microarrays, multiplexing, and other advanced techniques, which are applied in areas such as screening and early detection, prognostics and monitoring, therapy selection, and recurrence monitoring. The key end users include hospitals and clinics, diagnostic laboratories, academic and research institutions, and more.
The next-generation oncology devices and solutions market research report is one of a series of new reports from The Business Research Company that provides next-generation oncology devices and solutions market statistics, including the next-generation oncology devices and solutions industry global market size, regional shares, competitors with the next-generation oncology devices and solutions market share, detailed next-generation oncology devices and solutions market segments, market trends, and opportunities, and any further data you may need to thrive in the next-generation oncology devices and solutions industry. This next-generation oncology devices and solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The next-generation oncology devices and solutions market size has grown rapidly in recent years. It will grow from $13.90 billion in 2024 to $16.52 billion in 2025 at a compound annual growth rate (CAGR) of 18.9%. The growth observed in the historical period can be attributed to the increasing global cancer incidence, expansion of oncology research and clinical trials, advancements in precision medicine, growth of hospital and diagnostic infrastructure, and greater awareness of early cancer screening.
The next-generation oncology devices and solutions market size is expected to see rapid growth in the next few years. It will grow to $32.73 billion in 2029 at a compound annual growth rate (CAGR) of 18.6%. The growth anticipated in the forecast period is driven by the aging global population, increased investment in oncology startups, rising healthcare expenditures, greater demand for non-invasive or minimally invasive diagnostics, and the development of healthcare infrastructures. Key trends in the forecast period include AI-powered diagnostic imaging, advancements in liquid biopsy, personalized medicine platforms, wearable health monitoring devices, robotics, and minimally invasive surgical tools.
The growing prevalence of cancer is expected to drive the expansion of the next-generation oncology devices and solutions market. Cancer is a disease characterized by uncontrolled growth of abnormal cells, which can spread to other areas of the body, disrupting normal functions. The increasing prevalence of cancer is mainly due to aging populations, as the risk of developing cancer rises with age. Next-generation oncology devices and solutions help address this rise by enabling earlier detection, more accurate diagnosis, and personalized treatment. For example, in January 2024, the American Cancer Society, a US-based nonprofit organization, estimated that cancer would cause over 611,000 deaths in the United States, which equals more than 1,600 cancer-related deaths per day. As such, the growing prevalence of cancer is a key driver for the growth of the next-generation oncology devices and solutions market.
Leading companies in the next-generation oncology devices and solutions market are focusing on technological innovations, such as next-generation sequencing (NGS) target enrichment solutions, to improve the detection of rare genetic variants, enhance sequencing accuracy, and expedite cancer diagnosis and treatment decisions. NGS target enrichment solutions involve techniques that selectively capture and concentrate specific DNA or RNA regions for sequencing, allowing more precise and efficient analysis of genetic variants associated with cancer and other diseases. For instance, in April 2025, Integrated DNA Technologies (IDT), a US-based biotechnology company, launched the xGen Hybridization and Wash v3 Kit, an advanced hybridization capture solution designed to accelerate cancer research by streamlining NGS workflows. This kit reduces hybridization time to just one hour, enabling researchers to complete sample preparation and sequencing in a single workday. By eliminating the need for heated buffers and cutting hands-on time by 20%, the solution is highly automation-friendly and ideal for high-throughput applications.
In July 2024, Hologic, a US-based medical technology company, acquired Endomag for an undisclosed amount. This acquisition aims to enhance Hologic's breast cancer surgery portfolio by incorporating Endomag's innovative surgical guidance products, which improve the precision and effectiveness of cancer care. Endomag, a UK-based medical device manufacturer, specializes in surgical guidance products for breast cancer treatment.
Major players in the next-generation oncology devices and solutions market are Johnson & Johnson Services Inc., Siemens AG, Merck & Co. Inc., Thermo Fisher Scientific Inc., Novartis AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Agilent Technologies Inc., Illumina Inc., Sysmex Corporation, QIAGEN N.V., Exact Sciences Corporation, Elekta AB, Myriad Genetics Inc., Takara Bio USA Inc., NeoGenomics Inc., Guardant Health Inc., Accuray Incorporated, SOPHiA GENETICS SA, Paige.AI Inc., Deep Bio Inc., and Lucida Medical Ltd.
North America was the largest region in the next-generation oncology devices and solutions market in 2024. The regions covered in next-generation oncology devices and solutions report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the next-generation oncology devices and solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The next-generation oncology devices and solutions market consists of revenues earned by entities by providing services such as cancer genomic profiling and sequencing, personalized treatment planning, remote patient monitoring and tele-oncology, and early cancer detection and screening. The market value includes the value of related goods sold by the service provider or included within the service offering. The next-generation oncology devices and solutions market also includes sales of liquid biopsy kits, companion diagnostic tests, digital pathology systems, cancer biomarker detection assays, and targeted therapy monitoring devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Next-Generation Oncology Devices And Solutions Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on next-generation oncology devices and solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for next-generation oncology devices and solutions ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The next-generation oncology devices and solutions market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.