New York, May 04, 2021 (News) — Market size: USD 1.31 Million in 2020, Market Growth: CAGR of 19%, Market Trends: Increasing number of genomics research projects
The global NGS sample preparation market size is expected to reach USD 5.42 billion in 2028 and register a CAGR of 19% over the forecast period, according to the latest report by Reports and Data. Factors such as growing demand for precision medicine and rising adoption of NGS sample preparation in clinical and molecular diagnostics is boosting market revenue growth.
Next-generation sequencing aids in more precise analysis of DNA and RNA sequencing as compared to other conventional sequencing methods. Pre-sequencing methods such as library preparation, target enrichment, and quality control provide high-quality and precise data generation in less time and lower cost. Increasing demand for nucleic acid sequencing, growing adoption of NGS platforms, and rising cases of chronic infections, genetic disorders, and cancer are some key factors supporting growth of the NGS sample preparation market. Moreover, government initiatives to promote NGS platforms and funding by public and private sectors to support large-scale sequencing projects is expected to boost market growth in the coming years.
High costs associated with NGS sample preparation equipment, lack of advanced genetic testing platforms, and stringent regulations for NGS sample preparation are some key restraints expected to hamper market growth over the forecast period.
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Some key highlights from the report:
- Based on product type, the NGS workstations segment is expected to account for rapid revenue growth during the forecast period owing to factors such as reduction in hands-on time and access to maximize scheduling.
- On the basis of technology, the ion semiconductor sequencing segment is projected to account for significant revenue share between 2021 and 2028 due to capability to detect hydrogen ions and allow direct conversion of chemically encoded information into digital information, which is driving adoption.
- In context to application, the disease diagnostics segment is projected to account for substantial revenue contribution to the global market over the forecast period owing to rising incidence of cancer and infectious disorders worldwide combined with favorable reimbursement scenarios for NGS testing in many countries.
- Based on end-use, the academic institutes and research centers segment is expected to dominate other end-use segments throughout the forecast period due to high investments by market players and funding from government for genomics research.
- North America accounted for largest revenue share in the global market in 2020 and is expected to maintain its dominant position throughout the forecast period owing to advancements in next-generation sequencing, high adoption of personalized medicine, and presence of major market players.
- Asia Pacific market is projected to register fastest revenue CAGR of 16% over the forecast period owing to factors such as increasing awareness about precision medicine and rising funding from private and public sectors.
Some prominent players in the NGS sample preparation market are:
- Illumina Inc.
- Thermo Fisher Scientific
- QIAGEN N.V.
- Agilent Technologies, Inc.
- Beckman Coulter
- Dickinson and Company
- Pacific Biosciences of California
- Biomatters Ltd.
- Bio-Rad Laboratories, Inc.
- Congenica Ltd.
- Eurofins Scientific
- F. Hoffmann-La Roche Ltd
- Foundation Medicine
- Genomatix GmbH
- Myriad Genetics
- Oxford Nanopore Technologies
- Partek Incorporated
- Perkin Elmer
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For this study, Reports and Data has segmented the global NGS sample preparation market based on Product, Workflow, Technology, end use, application, and region:
Based On Product Type (Revenue, USD Billion, 2018 – 2028)
- Reagents & Consumables
Based On Workflow (Revenue, USD Billion, 2018 – 2028)
Reagents & Consumables
- Library Preparation
- Human Whole Genome Sequencing (WGS)
- Targeted Sequencing
- Whole Exome Sequencing (WES)
- Gene Expression Analysis
- Whole Transcriptome Sequencing
- Target Enrichment
- Quality Control
Based On Technology (Revenue, USD Billion, 2018 – 2028)
- Sequencing by Synthesis (SBS)
- Ion Semiconductor Sequencing
- Single-molecule Real-time (SMRT) Sequencing
- Nanopore Sequencing
- Other Technologies
Based On Application (Revenue, USD Billion, 2018 – 2028)
- Disease Diagnostics
- Cancer Diagnostics
- Reproductive Health Diagnostics
- Infectious Disease Diagnostics
- Other Disease Diagnostic Applications
- Drug Discovery
- Agricultural and Animal Research
- Other Applications
Based On End Use (Revenue, USD Billion, 2018 – 2028)
- Academic Institutes and Research Centers
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
Based On Region: (Revenue, USD Billion, 2018 – 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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