Illumina, A Major Player In The Next Generation Sequencing Market Reported Significant Surge In Q2 Revenues

Next Generation Sequencing Market Report 2021: COVID-19 Growth And Change To 2030

Next Generation Sequencing Global Market Report 2021: COVID-19 Growth And Change To 2030

Clinical Oncology Next Generation Sequencing Market Report 2021: COVID-19 Growth And Change To 2030

Clinical Oncology Next Generation Sequencing Global Market Report 2021: COVID-19 Growth And Change To 2030

The rise in prevalence of cancer and genetic diseases will drive the next-generation sequencing market

LONDON, GREATER LONDON, UK, August 12, 2021 /EINPresswire.com/ — Illumina reported 2021 second quarter (Q2) revenue of $1.12 billion, a 78% year-on-year increase to 2020. This record revenue surge was led by oncology clinical applications and genetic disease testing, as well as minor unanticipated gains from the COVID-19 variant testing. The gross margin in the second quarter of 2021 was 71.2% compared to 67.7% in the previous-year period. The company has raised 2021 financial guidance, supported by its strong core businesses. These earnings are in line with The Business Research Company estimates of next-generation sequencing and clinical oncology next-generation sequencing (NGS) markets.

The global next-generation sequencing market size is expected to grow from $7.05 billion in 2020 to $9.04 billion in 2021 at a compound annual growth rate (CAGR) of 28.2%. The market is further expected to reach $23.15 billion in 2025 at a CAGR of 27% according to Global Market Model estimates. Next-generation sequencing (NGS) is a versatile development tool utilized by researchers and clinicians across various cancer studies to recognize biomarkers that give guidance on treatments. The growing number of cancer and genetic diseases contribute to the growth of the Next-generation sequencing market size and the prevalence of these chronic diseases is expected to increase significantly, according to the World Health Organization.

The applications of NGS for clinical oncology will grow in double digits CAGR in the next 5 years, according to The Business Research Company’s analysis. The global clinical oncology next-generation sequencing market size is expected to grow from $0.44 billion in 2020 to $0.56 billion in 2021 at a compound annual growth rate (CAGR) of 27.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures and a decrease in baseline elective medical procedures. The clinical oncology next-generation sequencing market is further expected to reach $1.05 billion in 2025 at a CAGR of 17%.

The rise in the number of cancer cases across the globe is likely to contribute to the growth of the clinical oncology next-generation sequencing market during the forecast period. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the clinical oncology next-generation sequencing market.

The TBRC’s global clinical oncology next-generation sequencing market is segmented –
1) By Technology: Ion Semiconductor Sequencing, Pyro-Sequencing, Synthesis Sequencing, Real-Time Sequencing, Ligation Sequencing, Reversible Dye Termination Sequencing, Nano-Pore Sequencing
2) By Application: Screening, Companion Diagnostics, Other Diagnostics
3) By End User: Hospital Laboratories, Clinical Research Organizations, Diagnostic Laboratories

These Next Generation Sequencing Global Market Reports are from a series of new reports from The Business Research Company that provide Next-generation sequencing market overviews, analyzes and forecasts Next-generation sequencing market size, share, Next-generation sequencing market players, Next-generation sequencing market segments and geographies, the markets’ leading competitor revenues, profiles and market shares.

About The Global Market Model
The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real-time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.

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