NGS Library Preparation Market To Witness Invigoration Between 2023 to 2030

The "NGS Library Preparation Market" Report offers a thorough analysis of prominent competitors and their market shares, providing valuable insights into the competitive landscape. Alongside important metrics like sales, revenue, average selling price, and gross margin, the report explores significant growth prospects for industry leaders. Serving as an all-inclusive resource, this research provides a comprehensive overview of the market and its potential for expansion, making it an essential tool for investors and business professionals alike.

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Next-generation sequencing (NGS) library construction is a critical step in high throughput sequencing, involving a coordinated series of enzymatic reactions to produce a random collection of DNA fragments of a specific size. The decreasing cost of NGS library preparation solutions is making the technology more affordable and widely accessible, which is the key growth driver for the global NGS library preparation market.

The market is expected to reach approximately USD 1.33 billion by 2023, expanding at a compound annual growth rate (CAGR) of 11.3% during 2018-2023.

The small RNA sequencing market is expected to grow at a high CAGR of about 14.1% compared to other applications, primarily due to its increased use as an identifier of novel biomarkers. Additionally, miRNAs are involved in many important physiological processes, such as the development and maturation of the nervous system, making small RNA sequencing useful in the diagnosis and treatment of diseases related to the brain/nervous system.

The NGS library preparation market products can be classified into consumables, instruments/workstations/platforms, and others (ancillary equipment), with the consumables sub-segment dominating the market share at 51.9%. The rising demand for consumable products like library preparation reagents and other kits in research projects is the key factor driving the growth of the sub-segment. However, the challenge faced by the market is that most of the library preparation kits are designed to work with a particular brand of instrument, which increases the bargaining power of suppliers and restrains the wide adoption of these kits in mid and small-sized labs.

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The NGS library preparation market is divided into clinical diagnostics and research segments, with the research segment holding the lion's share of the market due to the growth of various research projects like oncology, agrigenomics, immuno-oncology research, neurosciences, microbial genomics, and drug discovery. The increasing adoption of NGS tools by contract research organizations (CROs) and research wings of pharmaceutical, as well as biotechnological companies all over the world, is further adding to the growth of this particular segment.

North America leads the innovation in the NGS library preparation market, occupying approximately 50% of the global market in 2017. The high adoption rate of library preparation tools in the region among both research and diagnostics segments is the key reason behind its dominance. The North American NGS library preparation market is predicted to expand at a CAGR of 9.5% during the forecast period. The Asia-Pacific region is growing at a high growth rate of about 14.0%, driven by the availability of a vast patient population, quality data, lower costs, and skilled manpower. This is driving the adoption of NGS library tools in the region.

The companies covered in the report include Illumina, Inc., Roche Holding AG, Thermo Fisher Scientific, Inc, PerkinElmer, Inc., Qiagen NV, Bio-Rad Laboratories, Inc., Abcam, Meridian Biosciences Inc., Epigentek Group Inc., and New England Biolabs Inc.

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, and future forecasts in North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa.

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Scope of the Report:
The scope of this report encompasses a comprehensive analysis of the market growth expected to occur from 2023 to 2030. Through meticulous research, we have organized data pertaining to the evolving market structures that exert influence on industries, markets, technologies, and capabilities. Our report presents a thorough examination of relevant statistics, opportunities, challenges, drivers, restraints, limits, market size, share, and trends. By delivering valuable insights, we aim to provide a comprehensive understanding of the market landscape.

Here are the key highlights of the report:

• Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
• In-depth analysis of the competitive landscape, identifying key trends within the industry.
• Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER's five forces.
• Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
• Guidance provided for new market entrants, assisting them in navigating the industry landscape.
• Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.

Our sample report encompasses the following elements:

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• Top Market Players: The report includes a comprehensive analysis of the leading market players, highlighting their business strategies, sales volume, and revenue analysis.
• Facts and Factors Research Methodology: Our research methodology is based on a rigorous approach, ensuring the accuracy and reliability of the information presented in the report.

Our most recent research report showcases the thriving expansion of the global NGS Library Preparation Market and offers in-depth insights into the projected market size, share, and revenue until 2030.

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