Dublin, March 15, 2023 (GLOBE NEWSWIRE) -- The "Global NGS Sample Preparation Market by Product (Reagents & Consumables, Workstations), Workflow (Library Prep, Target Enrichment), Sample Type (DNA), Application (Diagnostics, Drug Discovery), Method (Microfluidic, Automated), End-user & Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global NGS sample preparation market is projected to reach USD 4 billion by 2028 from USD 1.9 billion in 2022, at a CAGR of 13.4% during the forecast period.
The key factors driving the growth of the NGS sample preparation market are constant innovations in NGS platforms, and increased availability of advanced NGS systems at low costs.
However, the presence of alternative technologies is expected to restrain market growth to a certain extent. The NGS sample preparation market has been segmented based on products & services, workflow, sample type, method, application, end-user, and region.
By application, the disease diagnostics accounted for the largest share of the NGS sample preparation market
Based on application, the NGS sample preparation market is categorized into disease diagnostics, drug discovery, agricultural & animal research, and others.
The disease diagnostics segment dominated the market in 2022, owing to favorable reimbursement scenario for NGS-based tests and increasing focus of key players on developing NGS-based products & services for cancer and NIPT are the key factors driving the growth of the segment.
By end-user, the academic institutes & research centers accounted for the largest share
Based on end-user, the NGS sample preparation market is segmented into hospitals & clinics, academic institutes & research centers, pharmaceutical & biotechnology companies, and other end-users.
In 2022, the academic institutes & research centers segment accounted for a larger share of the NGS sample preparation market. Growth in this market segment can be attributed to availability of financial support for genomics R&D across regions, and the development of cost-effective NGS products & services for researchers.
North America: the largest share of the NGS sample preparation market
North America accounted for the largest share of the NGS sample preparation market. Favorable initiatives by government and private bodies for the adoption of NGS technologies, advancements in NGS sample preparation products, the growing prevalence of target diseases, an increasing number of NGS-based research & clinical applications, growing research on cancer, the rising awareness of NGS services, and the presence of leading NGS service providers, such as Illumina (US), Thermo Fisher Scientific (US), and Agilent Technologies (US), are driving the growth of the NGS sample preparation market in North America.
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 significant focus on R&D activities as a means of broadening the scope of NGS applications, the increasing adoption of NGS for diagnostics due to the decreasing cost of NGS products and services, and technological development in NGS data analysis.
In addition, a number of domestic and international market players focus on strengthening their presence in the Asia-Pacific NGS market, while domestic players expand their international reach through partnerships, collaborations, agreements, and expansions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 289 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1.9 Billion |
| Forecasted Market Value (USD) by 2028 | $4 Billion |
| Compound Annual Growth Rate | 13.4% |
| Regions Covered | Global |
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
Companies Mentioned
- 10x Genomics
- Agilent Technologies, Inc.
- Becton, Dickinson and Company
- BGI
- Bio-Rad Laboratories, Inc.
- Danaher
- Eurofins Scientific
- F. Hoffmann-La Roche Ltd.
- Illumina, Inc.
- MedGenome
- Merck KGaA
- New England Biolabs
- Novogene Co. Ltd.
- Oxford Nanopore Technologies PLC
- PacBio
- PerkinElmer Inc.
- Promega Corporation
- Psomagen
- Qiagen
- Swift Biosciences Inc.
- Sysmex Corporation
- Takara Bio Inc.
- Tecan Trading AG
- Thermo Fisher Scientific Inc.
- Zymo Research Corporation
For more information about this report visit https://www.researchandmarkets.com/r/efiwh5
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