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Sample Preparation Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
The Business Research Company recently released a comprehensive report on the Global Sample Preparation Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.According to The Business Research Company's, The sample preparation market size has grown strongly in recent years. It will grow from $8.75 billion in 2023 to $9.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to life sciences research and diagnostics, drug discovery and development, clinical and molecular diagnostics, academic and governm.
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Market Drivers and Trends:
The increasing healthcare expenditure is expected to propel the growth of sample preparation market going forward. Rise in healthcare expenditure fuels boosts medical research, clinical diagnostics, biomedical studies, drug discovery, and innovations in medical devices. Increased spending supports the need for high-quality samples in areas like disease surveillance, regulatory compliance, and public health initiatives, contributing to the demand for efficient sample preparation solutions. For instance, in September 2021, according to the Centers for Medicare & Medicaid Services, a US-based federal agency within the U.S. Department of Health and Human Services, 2021, the expenditure on prescription drugs rose by 7.8% to reach a total of $378.0 billion, which is a faster growth rate than the 3.7% increase recorded in 2020. Also in 2021, the spending on Medicare surged by 8.4% and reached $900.8 billion, making up 21% of the total National Health Expenditures (NHE). Additionally, Medicaid spending increased by 9.2% and reached $734.0 billion, accounting for 17% of the total NHE. Therefore, the increasing healthcare expenditure is driving the growth of sample preparation market.
Major companies operating in the sample preparation market are developing new fusion sample preparation systems to gain a competitive edge in the market. New fusion sample preparation systems are advanced laboratory tools designed to automate and optimize the process of combining and preparing samples for analytical or scientific purposes, streamlining workflows and ensuring accuracy. For instance, in April 2023, Malvern Panalytical, a UK-based laboratory instruments and technology company launched FORJ™, a fusion sample preparation system for elemental analysis. It features reduced thermal stress, stable heating for consistent results, enhanced operator accessibility, flexibility with options like a mold sensor and sample reloading, and a significant productivity boost of up to 25%. FORJ is designed for seamless lab integration and offers remote control capabilities, setting a new standard in elemental analysis.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Agilent Technologies Inc.; Bio-Rad Laboratories Inc.; Danaher Corporation; Illumina Inc.; QIAGEN N.V.; PerkinElmer Inc.; F. Hoffmann-La Roche Ltd.; Tecan Group Ltd.; Hamilton Company; Norgen Biotek Corporation; Waters Corporation; Promega Corporation; Biotage AB; Merck KGaA; Thermo Fisher Scientific Inc.; Roche Applied Science; Medline Industries Inc.; Sartorius AG; Zymo Research Corporation; BioChain Institute Inc.; BioVision Inc.; Cell Signaling Technology Inc.; EMD Millipore Corporation; Epigentek Group Inc.; GE Healthcare Technologies Inc.; GenScript Biotech Corporation; Gilson Inc.; GlycoMatrix Inc.; Harvard Bioscience Inc.; InSphero AG
Sample Preparation Market 2024 Key Insights:
• The sample preparation market size is expected to grow to $12.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
• Rising Healthcare Expenditure To Drive Market Growth
• Product Innovations Reshaping The Sample Preparation Market
• North America was the largest region in the sample preparation market in 2023.
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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