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NGS Sample Preparation Market Size Growth Analysis By Revenue, Share, Scenario on Latest Trends & Forecast

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NGS Sample Preparation Market Size Growth Analysis By Revenue, Share, Scenario on Latest Trends & Forecast

March 24
00:36 2023
NGS Sample Preparation Market Size Growth Analysis By Revenue, Share, Scenario on Latest Trends & Forecast
The market for NGS sample preparation is highly consolidated, with key players strategizing to capture the market. Prominent players in the NGS sample preparation market are Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), PerkinElmer Inc. (US)
The global NGS sample preparation market is projected to grow at a Compound Annual Growth Rate (CAGR) of 13.4% from 2022 to 2028.

NGS Sample Preparation Market in terms of revenue was estimated to be worth $1.9 billion in 2022 and is poised to reach $4.0 billion by 2028, growing at a CAGR of 13.4% from 2022 to 2028 according to a new report by MarketsandMarkets™. Some of the prominent factors driving the growth of this market are advancements in NGS platforms, the declining cost of sequencing, the use of NGS as a substitute for PCR, as well as the increased efficiency of genotyping and preparation protocols for boosting the growth of the market. However, the presence of alternative technologies with limited expertise and sequence capabilities of individual laboratories can hamper the market growth.

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Browse in-depth TOC on “NGS Sample Preparation Market” 

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NGS Sample Preparation Market Dynamics:

Drivers:

  1. Constant innovations in NGS platforms
  2. Increased availability of advanced NGS systems at low costs
  3. Use of NGS as substitute for PCR
  4. Greater efficiency of genotyping and preparation protocols

Restraints:

  1. Presence of alternative technologies
  2. Limited expertise and sequencing capabilities of individual laboratories

Opportunities:

  1. Increasing collaborations and partnerships among key players

Challenges:

  1. Ethical and privacy issues in health data

Key Market Players:

The market for NGS sample preparation is highly consolidated, with key players strategizing to capture the market. Prominent players in the NGS sample preparation market are Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), PerkinElmer Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Agilent Technologies, Inc. (US), Danaher (US), Becton, Dickinson and Company (US), Merck KGAA (Germany), QIAGEN (Germany),  Bio-Rad Laboratories, Inc. (US), Promega Corporation (US), Eurofins Scientific (Luxembourg), BGI (China), 10x Genomics (US), Sysmex Corporation (US), Psomagen (US), Zymo Research Corporation (US), Takara Bio Inc. (Japan), Novogene Co., Ltd. (China), New England Biolabs (US), Tecan Trading AG (US), Oxford Nanopore Technologies PLC (UK), PacBio (US), Medgenome (US), and Swift Biosciences Inc. (US).

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DNA segment accounted for the largest share of the NGS sample preparation market

Based on the sample type, the NGS sample preparation market is segmented into DNA and RNA. In 2022, the DNA segment accounted for the largest share of the NGS sample preparation market. Growth in this market segment can be attributed to the rising number of cancer cases and growing R&D investments for studying DNA samples.

DNA fragmentation & library preparation is the fastest-growing workflow segment of the NGS sample preparation market

Based on workflow, the NGS sample preparation market is segmented into DNA fragmentation & library preparation, target enrichment, and quality control. In 2022, the DNA fragmentation &library segment accounted for the fastest-growing share of the workflow segment of NGS sample preparation market. Market growth can largely be attributed to the availability of new products, and advancements in the NGS protocols.

Asia Pacific: The fastest-growing region in the NGS sample preparation market.

The Asia Pacific NGS sample preparation market is projected to grow at the highest CAGR during the forecast period, mainly due to the rising focus on R&D activities, increasing adoption of NGS for diagnostics, and technological development in NGS data analysis.

Recent Developments

  • In 2021, Agilent completed the acquisition of Resolution Bioscience, a leader in the development and commercialization of NGS-based precision oncology solutions. Resolution Bioscience complemented and expanded Agilent’s capabilities in NGS-based cancer diagnostics and provided the company with innovative technology to further serve the needs of the fast-growing precision medicine market.
  • In 2020, Roche announced that it has entered into a 15-year, non-exclusive partnership with Illumina to broaden the adoption of distributable next-generation sequencing (NGS) based testing in oncology.
  • In 2021, Thermo Fisher Scientific announced the acquisition of clinical research services provider PPD.

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About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Website: https://www.marketsandmarkets.com/Market-Reports/ngs-sample-preparation-market-69735098.html

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