NGS Library Preparation Market to be Worth $6.47 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled,'NGS Library Preparation Market By Product (Kits, Reagents, Instruments), Sequencing Type (Genome, Exome, Targeted), Application (Diagnostics, Discovery), End User (Hospitals, Diagnostic Laboratories, Pharmaceutical, Academic) - Global Forecast to 2030.'

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According to this latest publication from Meticulous Research®, the NGS library preparation market is projected to reach $6.47 billion by 2030, at a CAGR of 16% from 2023 to 2030. The growth of this market is driven by the declining costs of sequencing, the increasing prevalence of cancer and genetic disorders, the growing utilization of NGS in disease diagnostics and precision medicine, and rising R&D investments and healthcare expenditures.

In addition, the increasing applications of next-generation sequencing technology and collaborations between vendors to develop automated library preparation protocols are expected to provide significant growth opportunities for this market.

However, the availability of alternative technologies and the low chances of identifying positive actionable mutations for precision medicine is expected to hinder the growth of this market to a certain extent. In addition, factors such as regulatory and standardization concerns in diagnostic testing and the limited expertise and sequencing capabilities of small & mid-sized laboratories are the major challenges to market growth.

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NGS Library Preparation Market: Future Outlook

The NGS library preparation market is segmented by product, application, sequencing type, end user, and geography. The study also evaluates industry competitors and analyzes the country and regional-level markets.

Based on product, in 2023, the reagents & consumables segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to factors such as the increasing demand for library preparation kits and reagents, the high number of research activities, and the numerous applications of NGS in different fields, such as drug and biomarker discovery and diagnostics.

Based on application, in 2023, the research & other applications segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increasing demand for gene-based medicines, growing investments in drug research and development activities, and increasing research programs for personalized medicine.

Based on sequencing type, in 2023, the targeted sequencing segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the benefits offered by targeted sequencing, such as low cost, fast turnaround time, and accurate and easy interpretation of targeted sequencing results in the study of disease-related genes.

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Based on end user, in 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the rising pharmaceutical R&D expenditures, the growing demand for new drug discoveries & development, and the increased utilization of NGS technology for biomarker discovery.

Geographic Review

This research report analyzes the market across major regions and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa.

In 2023, North America is expected to account for the largest share of the NGS library preparation market, followed by Europe and Asia-Pacific. North America's major market is attributed to the factors such as governments' increased support and investments to enhance genome sequencing infrastructure in the region, the increasing R&D investments by pharmaceutical and biopharmaceutical companies, and the presence of key market players in the region.

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Key Players

The key players operating in the NGS library preparation market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), Pacific Biosciences of California, Inc. (U.S.), PerkinElmer Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), New England Biolabs, Inc. (U.S.), Tecan Group Ltd. (Switzerland), Merck KGaA (Germany), Diagenode S.A. (Belgium) (Subsidiary of Hologic, Inc. (U.S.)), and Beijing Genomics Institute (BGI) (China).

Key questions answered in the report:

1 Which are the high-growth market segments in terms of product, application, sequencing type, end user, and region/country?
2 What was the historical market size for the NGS library preparation across the globe?
3 What are the market forecasts and estimates for the period 2023-2030?
4 What are the major drivers, restraints, opportunities, and challenges in the global NGS library preparation market?
5 Who are the major players in the NGS library preparation market?
6 How is the competitive landscape, and who are the market leaders in the global NGS library preparation market?
7 What are the recent developments in the global 8 NGS library preparation market?
9 What are the different strategies adopted by the major players in the global NGS library preparation market?
10 What are the geographical trends and high-growth regions/countries?

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