NGS Sample Preparation Market Size Soars: Projected 11.35 % CAGR Growth by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global NGS Sample Preparation Market By workflow (NGS library preparation kits, semi-automated library preparation, automated library preparation and clonal amplification), application (oncology, clinical investigation, reproductive health, HLA typing/immune system monitoring, metagenomics, epidemiology & drug development, agrigenomics & forensics and consumer genomics) and end-user (academic research, clinical research, hospitals & clinics, pharma & biotech entities and others)- Trends, Industry Competition Analysis, Revenue and Forecast To 2031"

The global NGS sample preparation market is estimated to reach over USD 8.43 billion by 2031, exhibiting a CAGR of 11.35 % during the forecast period.

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The concept of massively parallel processing is used in one of the high-throughput DNA sequencing techniques called next-generation sequencing (NGS). Massively parallel sequencing is another name for it. NGS platforms come in a variety of sequencing chemical and engineering setups. The determination of RNA structures is made possible by NGS techniques. The entire human genome could be sequenced using NGS in just one day. The accuracy and speed of genome sequencing have grown because of NGS technologies. Growing demand for nucleic acid sequencing, rising number of genome research projects, rising incidence of genetic disorders, advancements in NGS platforms, declining sequencing costs, and improving reimbursement for diagnostic tests based on NGS will be the main factors propelling the growth of the global NGS sample preparation market.

List of Prominent Players in the NGS Sample Preparation Market:
Agilent Technologies
Bio-Rad Laboratories, Inc.
Biomatters Ltd.
Congenica Ltd
Eurofins Scientific
DNASTAR
F. Hoffmann-La Roche Ltd
Genomatix GmbH
Thermo Fisher Scientific
Foundation Medicine

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Market Dynamics:
Drivers-
Globally, the prevalence of hereditary illnesses has suddenly increased. The molecular properties of numerous genetic diseases are now better understood because of significant advancements in RNA and DNA sequencing technologies. The use of NGS to identify these genetic disorders' features is expanding, driving up market revenue growth. The demand for NGS in personalized medicine is rising due to technological advancements in NGS and its growing use in clinical molecular sciences. This is because NGS enables the design of specific chips for diseases with known etiologies or targets specific genome sequencing of various disease-causing genes with unknown etiologies. Additionally, it is anticipated that future NGS sample preparation market growth will be fueled by rising government and private sector financing for large-scale sequencing programs.

Challenges
Due to the prevalence of infectious illnesses, there has been an increase in demand for NGS methods and genetic testing facilities. However, a significant barrier to market expansion is the absence of cutting-edge genetic testing facilities in numerous nations across the globe. Another factor limiting market expansion for NGS sample preparation is the high cost of the tools and equipment used in the process. Furthermore, it is anticipated that the market growth will be somewhat constrained in the following years by the strict regulatory criteria placed on the preparation of NGS samples.

Regional Trends:
The North American NGS sample preparation market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. A significant portion of North America can be attributed to the encouraging initiatives by governmental and private bodies for the expansion and implementation of NGS technologies, the growing number of NGS-based research & clinical applications in the region, extensive adoption of NGS diagnostics in the area, rising research on cancer, increasing awareness about NGS services, and presence of top NGS service providers in the region. Besides, Asia Pacific had a substantial share in the NGS sample preparation market due to elderly population growth, increased cancer prevalence, improved reimbursement practices, and technology improvements. The increase in sequencing projects in the area increased R&D activity in the biotechnology and pharmaceutical industries and expanding government measures to support precision medicine are all responsible for the growth.

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Recent Developments:
• In February 2022, Twist Bioscience Corporation and C2I Genomics Inc., a cancer intelligence business, joined forces to provide whole-genome cancer reference materials.
• In April 2021, Agilent Technologies Inc. bought Resolution Bioscience Inc., a company engaged in the research and marketing of next-generation sequencing-based precision oncology solutions, to speed up the delivery of precision oncology testing to patients using NGS-based diagnostic kits globally.

Segmentation of NGS Sample Preparation Market-
By Workflow-
• NGS Library Preparation Kits
• Semi-automated Library Preparation
• Automated Library Preparation
• Clonal Amplification

By Application-
• Oncology
• Clinical Investigation
• Reproductive Health
• HLA Typing/Immune System Monitoring
• Metagenomics, Epidemiology & Drug Development
• Agrigenomics & Forensics
• Consumer Genomics

By End-User-
• Academic Research
• Clinical Research
• Hospitals & Clinics
• Pharma & Biotech Entities
• Others

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.