Next Gen Sequencing Library Preparation Market to Expand Rapidly with Key Innovations and Collaborations.

Insight Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Next Generation Sequencing Library Preparation Market (By Sequencing Type (Targeted Genome Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, and Other Sequencing Types), By Product ( Reagents & Consumables (DNA Library Preparation Kits, Library Preparation Kits, RNA Library Preparation Kits, Other Reagents & Consumables) And Instruments), By Application (Drug & Biomarker Discovery, Disease Diagnostics (Cancer Diagnostics, Reproductive Health Diagnostics, Infectious Disease Diagnostics, Other Disease Diagnostic Applications), Drug Discovery And Other Applications), By End-Use (Hospitals And Clinics, Academic And Research Institutions, Pharmaceutical and Biotechnology Companies, and Others))- Market Outlook and Industry Analysis 2031"

The global next generation sequencing library preparation market is estimated to reach over USD 4.53 billion by 2031, exhibiting a CAGR of 12.76% during the forecast period.

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Next-generation sequencing library preparation is now favored over conventional sequencing techniques due to its sensitivity to finding novel variations. Library preparation entails preparing nucleotide samples by fragmenting nucleic acids, adaptor ligation, and measurement to attain the best compatibility with a sequencer. The utilization of particular kits and tools efficiently normalizes the next-generation sequencing library preparation procedure. Reduced sequencing costs, an increase in the prevalence of genetic disorders, widespread use of next-generation sequencing in diagnostics, expanding research interests, and increased funding for medical research are driving the library preparation industry.

Additionally, it is projected that growing R&D partnerships and adopting next-generation sequencing technology will increase the market's potential for expansion. The life sciences sector's dramatic development spurs market expansion. The demand for next-generation sequencing sample preparation is driven by the widespread adoption of more advanced technologies, industry expansion in developing markets, and advancements in the industry's technological and scientific capabilities. The market is anticipated to be driven by developments in the life sciences sector, such as workflow efficiency to improve accuracy and performance.

List of Prominent Players in the Next Generation Sequencing Library Preparation Market:
Agilent Technologies, Inc
Integrated DNA Technologies
F. Hoffmann-La Roche AG, Inc
Illumina, Inc
Beckman Coulter Inc. (now part of Danaher Corporation)
Merck KGaA, Becton
Dickinson and Company
New England Biolabs, Inc
PerkinElmer Inc
QIAGEN N.V
Pacific Biosciences of California, Inc
Thermo Fisher Scientific Inc
Tecan Group Ltd

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Market Dynamics:
Drivers-
The market for next generation sequencing library preparation is being driven by reasons such as falling sequencing costs, rising genetic condition prevalence, expanding use of next generation sequencing in diagnostics, rising R&D spending, and rising healthcare expenses. Furthermore, this market is anticipated to experience significant potential due to the expanding applications of next-generation sequencing and the growing company collaborations to create library preparation procedures. In addition, the market is growing as infectious disease incidence rises. The market for next generation sequencing sample preparation has benefited from the COVID-19 pandemic. Reconstructing the genomic sequence of COVID-19's etiological agent has become urgently necessary in order to study the structure of the virus.

Challenges:
Budgetary restrictions in emerging nations, however, are anticipated to significantly slow the expansion of this market. The main obstacles to the expansion of this industry include issues with regulatory and standards in diagnostic testing, as well as the limited experience and sequencing capabilities of mid- and small-sized laboratories. However, businesses must deal with issues related to library preparation and various automated techniques. It has been discovered workstations enable high throughput processing but only provide modest procedural flexibility. It is discovered that study in this area is confined to electron microscopy, which is insufficiently sensitive for useful food testing.

Regional Trends:
North America holds a significant portion of the global market. Due to the widespread use of next-generation sequencing-based diagnostic testing, strong r&d spending, and growing financial support from the government, the region's genome sequencing infrastructure. However, Asia-Pacific is expected to have the market's fastest expansion. The region's improved healthcare infrastructure, the growing government emphasis on sequencing initiatives, the rising incidence of various chronic & infectious diseases, a sizable population of patients with gene-associated disorders, and the increase in research activities for the creation of personalized medicines all contribute to the region's high market growth.

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Recent Developments:
• In September 2022- IDT released the xGen monkeypox virus amplicon panel, a method for preparing an NGS library that allows for the genotyping of extracted viral DNA in order to identify monkeypox virus infection.
• In January 2022- In order to sequence a human genome in as little as 302 minutes and with a diagnostic rate of about 42% for the identification of uncommon disorders, Stanford University researchers set a Guinness World Record.

Segmentation of Next Generation Sequencing Library Preparation Market-
By Sequencing Type
• Targeted Genome Sequencing
• Whole Genome Sequencing
• Whole Exome Sequencing
• Other Sequencing Types
By Product-
• Kits
o Reagents
o Library Preparation Kits
o DNA Library Preparation Kits
o RNA Library Preparation Kits
o Other Reagents & Consumables
• Instruments
By Application
• Drug & Biomarker Discovery
• Disease Diagnostics
o Cancer Diagnostics
o Reproductive Health Diagnostics
o Infectious Disease Diagnostics
o Other Disease Diagnostic Applications
• Other Applications
By End use
• Hospital & Diagnostic Laboratories
• Pharmaceutical & Biotechnology Industry
• Academics & Research
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.