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NGS Cancer Companion Diagnostics and Its Huge Market Potential in China


NGS cancer companion diagnostics is an emerging industry in China, and its industry concentration has gradually increased over the past 6 years around development.

 

According to Frost & Sullivan, the market size of NGS in China (including LDT and IVD) has reached RMB 2.2 billion in 2019, with a CAGR of 51.2% from 2015 to 2019. It is expected to maintain a CAGR of 35.5% from 2019 to 2024. At present, China's companion diagnostics market is still in its infancy. By 2019, there are less than 10 NGSIVD tests that have obtained NMPA certification.

 

NGS companion diagnostics has great development space in China. At present, the penetration of NGS cancer companion diagnostics is still at a low rate in China, mainly due to weak awareness of doctors and limited availability of targeted therapies. Among advanced cancer patients recommended for cancer genotyping in China in 2019, only 6.4 percent received NGS cancer companion diagnostics, compared with 23.5 percent in the United States. Targeted and immunotherapy accounted for 26.7 percent of all cancer treatment revenue in China in 2019, significantly lower than the 85.6 percent in the United States. In the future, with the increase of drug access and penetration rate, the NGS cancer companion diagnostics market in China is expected to increase from US $300 million in 2019 to US $4.5 billion in 2030.

 

So far, Berry Genomics, BGI, AmoyDx, Burning Rock Dx and Genetron have been listed one after another. It is expected that there will be more gene sequencing companies landing on the capital market in the future.

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