NGS Sample Preparation Market: Introduction
According to the report, the global NGS sample preparation market was valued at US$ 758.5 Mn in 2019. It is projected to expand at a CAGR of ~16% from 2020 to 2030. Next-generation sequencing (NGS) has revolutionized genomic research.
The NGS technology has steadily improved with declining costs, and the number and range of sequencing applications increasing exponentially. In terms of product type, the global NGS sample preparation market has been classified into instruments, and kits, reagents, and consumables.
Based on application, the global market has been categorized into drug and biomarker discovery, diagnostics, precision medicine, and others (agriculture and animal research). The drug and biomarker discovery segment accounted for a major share of the global NGS sample preparation market in 2019. The segment is anticipated to expand at a high CAGR during the forecast period, owing to rise in the demand for NGS sample preparation across the world.
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In terms of on end user, the global NGS sample preparation market has been split into hospitals & clinical diagnostic centers, biotechnology & pharmaceutical companies, academic & research institutes, and others (CROs, CMOs, etc.). The academic & research institutes segment held a significant share of the global NGS sample preparation market in 2019.
NGS Sample Preparation Market: Prominent Regions
Asia Pacific held a major share of the global NGS sample preparation market in 2019. Presence of key players and growth strategies adopted by these players are major factors driving the NGS sample preparation market in the region. North America accounted for the second-largest share of the global NGS sample preparation market in 2019.
The expansion of the market in the region can be attributed to a well-developed healthcare sector. The NGS sample preparation market in North America is likely to expand at a rapid pace during the forecast period. Technological developments in NGS sample preparation is the other major factor that is likely to propel the NGS sample preparation market in the region.
NGS Sample Preparation Market: Key Players
Key players are expanding their footprint to consolidate their positions in the global NGS sample preparation market due to lucrative opportunities to increase their share. Hence, manufacturers engage in new development, collaborations, and distribution to gain market share.
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Leading players operating in the global NGS sample preparation market include QIAGEN, Thermo Fisher Scientific, Inc., Merck KGaA (Merck Millipore), Hoffmann-La Roche Ltd., Agilent Technologies, Promega Corporation, Illumina, Inc., Integrated DNA Technologies, Inc. (Danaher Corporation), New England Biolabs, and Tecan Trading AG.
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