NGS library preparation is one of the crucial steps in sample preparation. It is the process of preparing the nucleic acids into a form compatible with the sequencing system. The sequencing library is created by fragmenting DNA and adding specialized adapters to both ends. Numerous kits for making sequencing libraries are commercially available through various vendors.
Meticulous Research®, in its latest publication on the NGS library preparation market, states that the NGS library preparation market is expected to reach $3.15 billion at a CAGR of 14.8% from 2022 to 2029.
The growth of this market is driven by the declining costs of sequencing, the rising prevalence of genetic disorders, the increasing utilization of NGS in diagnostics, and the increasing R&D investments and healthcare expenditure. In addition, the increasing applications of next-generation sequencing and the rising number of collaborations between companies to develop library preparation protocols are expected to provide significant growth opportunities for this market.
However, the budget constraints in developing countries are expected to hamper the adoption of NGS automation solutions and restrain the growth of this market. In addition, factors such as limited expertise and sequencing capabilities of mid and small-sized laboratories and regulatory & standardization concerns in diagnostic testing are the major challenges for the growth of this market.
To provide efficient analysis, Meticulous Research® has segmented this market based on product, application, sequencing type, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
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Based on product, in 2022, the reagents & consumables segment is estimated to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to factors such as companies’ increased focus on launching new NGS library preparation kits, recurring demand for reagents & consumables as compared to instruments, and increased utilization of NGS in clinical diagnostics as well in drug discovery.
Based on application, in 2022, the disease diagnostics segment is estimated to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increasing prevalence of various types of cancers, the outbreak of COVID-19, and the high adoption of NGS-based testing for various infectious diseases.
Based on sequencing type, in 2022, the targeted sequencing segment is estimated to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the benefits offered by targeted sequencing in analyzing specific gene locations and isolated genetic expressions and its advantages in terms of cost, time, and data analysis for specific areas of interest over other sequencing methods.
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Based on end user, in 2022, the hospitals & diagnostic laboratories segment is estimated to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increased utilization of NGS-based testing in hospitals, high hospitalization rates globally, and the growing need for early disease diagnosis.
Geographic Review:
In 2022, North America is estimated to account for the largest share of the NGS library preparation market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the high adoption of NGS in the healthcare sector, the increasing R&D investments by pharmaceutical and biopharmaceutical companies, and the presence of key market players in the region.
Key Players:
The report provides competitive intelligence such as financials and key growth strategies of major market players. The report also provides an extensive assessment of the market based on product, application, sequencing type, end user, and the geographical presence of the key players operating in this market, such as Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (U.S.), Beckman Coulter Inc. (U.S.) (Subsidiary of Danaher Corporation), Becton, Dickinson and Company (U.S.), Pacific Biosciences of California, Inc. (U.S.), PerkinElmer Inc. (US), F. Hoffmann-La Roche AG (Switzerland), New England Biolabs, Inc. (U.S.), Tecan Group Ltd. (Switzerland), Merck KGaA (Germany), and Integrated DNA Technologies, Inc. (U.S.).
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Key questions answered in the report:
- Which are the high-growth market segments in terms of product, application, sequencing type, end user, and region/country?
- What was the historical market size for the NGS library preparation across the globe?
- What are the market forecasts and estimates for the period 2023–2030?
- What are the major drivers, restraints, opportunities, and challenges in the global NGS library preparation market?
- Who are the major players in the NGS library preparation market?
- How is the competitive landscape, and who are the market leaders in the global NGS library preparation market?
- What are the recent developments in the global NGS library preparation market?
- What are the different strategies adopted by the major players in the global NGS library preparation market?
- What are the geographical trends and high-growth regions/countries?
Author:
Mr. Khushal Bombe
Meticulous Market Research Inc.
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