Press release
NGS Sample Preparation Market Future Trends, Size, Share, Growth Outlook, Scope, Key Segments and Forecast to 2028
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)
[https://www.marketsandmarkets.com/Market-Reports/ngs-sample-preparation-market-69735098.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] 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 Trademark . 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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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.
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NGS Sample Preparation Market Dynamics:
Drivers:
* Constant innovations in NGS platforms
* Increased availability of advanced NGS systems at low costs
* Use of NGS as substitute for PCR
* Greater efficiency of genotyping and preparation protocols
Restraints:
* Presence of alternative technologies
* Limited expertise and sequencing capabilities of individual laboratories
Opportunities:
* Increasing collaborations and partnerships among key players
Challenges:
* 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).
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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NGS Sample Preparation Market Advantages:
* High Throughput: NGS sample preparation is able to process large numbers of samples quickly and efficiently, allowing for faster and more accurate data collection.
* Automation: Automation of the sample preparation process reduces the amount of time and labor required, resulting in cost savings.
* Flexibility: NGS sample preparation offers a variety of different protocols and methods, allowing researchers to customize their sample preparation according to the desired output.
* Cost Effectiveness: NGS sample preparation is cost effective compared to other methods, making it more attractive to both academic and commercial laboratories.
* Increased Accuracy: NGS sample preparation is known for its increased accuracy compared to traditional methods, resulting in more reliable and reproducible results.
NGS Sample Preparation Market- Report Highlights:
* The value chain analysis, ecosystem analysis, and regulatory scenario are added in the market overview chapter.
* The new edition of the report provides updated market breakdown with detailed analysis on types of products, workflow, sample type, method, application and end user.
* The new edition of the report provides updated financial information till 2022 (depending on availability) for each listed company in a graphical representation. This would help in the easy analysis of the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.
* Recent developments are helpful to understand market trends and growth strategies adopted by players in the market.
* Tracking product portfolios of prominent market players helps to analyze the major types in the NGS sample preparation market. The new edition of the report provides an updated product portfolio of the companies profiled in the report.
* Market evaluation framework, market share analysis and competitive leadership mapping have been added in competitive landscape chapter of the report.
* The competitive leadership mapping has been updated considering recent developments in the company evaluation matrix.
Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
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Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/ngs-sample-preparation-market-69735098.html
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