Revenue & CAGR Analysis: India Oncology NGS Market, 2023

The India oncology NGS market was valued at USD 23.2 million in 2022 and is projected to grow at a CAGR of 17.4% from 2023 to 2030. The adoption of cloud-based solutions in clinical research institutions, hospitals, and biotech firms is expected to simplify the management of extensive NGS-generated data. Additionally, efforts to develop a comprehensive genomic database for the Indian population contribute to market growth. For example, in July 2021, the National Institute of Biomedical Genomics launched dbGENVOC, a genomic variation database focused on oral cancer, funded by the Department of Biotechnology. This database contains around 24 million germline and somatic variants derived from whole-exome and whole-genome sequencing data.

By 2021, the Indian genomics market expanded significantly, with about 13 to 14 key players compared to only 2 to 3 in 2015. Approximately 3 to 4 companies have sufficient capacity and infrastructure to perform NGS workflows. The country's diverse population provides a valuable sample pool, enhancing genomic research. Hyderabad-based Genotypic Technology Pvt. Ltd. reported sequencing costs of roughly USD 106.84 per sample in 2021 for 100 samples; however, increased volume is expected to lower this cost to around USD 53.36 per sample, reflecting a substantial decline that drives market growth.

As cancer cases rise in India, there is increasing demand for advanced diagnostics and treatment options. Oncology NGS offers detailed cancer profiling that supports personalized treatment strategies and disease monitoring. According to the National Cancer Registry Programme by the Indian Council of Medical Research, cancer cases in India are expected to increase from 1.46 million in 2022 to 1.57 million by 2025, further fueling the demand for oncology NGS services.

Key Market Trends Insights:

• By application, the research studies segment led the market in 2022, capturing the largest revenue share of approximately 60%. This indicates that a significant portion of oncology NGS usage is directed toward advancing scientific and clinical research efforts.

• Regarding product and service categories, the platforms and related products segment dominated the market in 2022, reflecting the critical role of sequencing platforms and associated tools in enabling effective NGS workflows.

• In terms of workflow stages, NGS sequencing emerged as the most crucial phase, accounting for the largest share in 2022, highlighting its central importance in the overall genomic analysis process.

• By end use, hospitals and clinics represented the largest segment, holding about 35% of the market share in 2022, signifying that these healthcare settings are the primary adopters of oncology NGS technologies for patient diagnostics and treatment planning.

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Market Size Forecast:

• 2022 Market Size: USD 23.2 Million

• 2030 Projected Market Size: USD 85.7 Million

• CAGR (2023-2030): 17.4%

Key Companies Market Share Insights:

To strengthen their market position and better fulfill consumer demands, companies operating in the oncology NGS market are actively pursuing a variety of strategic initiatives. These include developing new products, engaging in mergers and acquisitions, and expanding their workflow capabilities. For example, in May 2023, Thermo Fisher Scientific Inc. partnered with Pfizer Inc. to broaden access to NGS-based testing for breast and lung cancer patients across more than 30 countries in Africa, Latin America, Asia, and the Middle East—regions where advanced genomic testing was previously limited or unavailable. This collaboration aims to empower healthcare professionals with local NGS testing options, enabling faster gene analysis related to diseases and helping select the most effective treatment for each patient.

Additionally, in January 2023, Thermo Fisher Scientific Inc. completed the acquisition of Binding Site Group Ltd. This strategic move allowed Thermo Fisher to incorporate Binding Site’s advanced specialty diagnostics portfolio, which features innovative monitoring and diagnostic tools specifically for multiple myeloma. Since early detection and timely treatment decisions are critical in managing multiple myeloma, this acquisition enhances Thermo Fisher’s ability to improve patient outcomes in this area.

Key Players

• Illumina, Inc.

• Genotypic Technology Pvt Ltd

• Tecan Trading AG

• Xcelris Genomics.

• Eurofins Scientific

• 4baseCare

• MedGenome

• Sayre Therapeutics

• Redcliffe Lifesciences

• Partek Inc.

• Bio-Rad Laboratories

• Myriad Genetics

• Hologic, Inc. (Gen-Probe Inc.)

• Perkin Elmer, IncVela Diagnostics

• Premas Life Sciences Pvt Ltd (PLS)

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Conclusion:

The India oncology next-generation sequencing (NGS) market is experiencing significant growth, driven by the increasing prevalence of cancer and the demand for advanced diagnostic and treatment methods. The introduction of cloud-based solutions and initiatives to build genomic databases for the Indian population are anticipated to ease the management of NGS-generated data and support personalized medicine approaches. Technological advancements in sequencing platforms and the growing adoption of NGS in clinical research and diagnostics are further contributing to market expansion. Key players in the market are focusing on strategic initiatives such as new product development, mergers and acquisitions, and workflow expansion to enhance their market presence and meet consumer expectations.