NGS Library Preparation Global Market Report 2023: Increasing Applications of Next-generation Sequencing Technology Present Opportunities

DUBLIN, Feb. 14, 2023 /PRNewswire/ -- The "NGS Library Preparation Market By Product (Kits, Reagents, Instruments), Sequencing Type (Genome, Exome, Targeted), Application (Diagnostics, Discovery), End User (Hospitals, Diagnostic Laboratories, Pharmaceutical, Academic) - Global Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The global NGS library preparation market is projected to reach $3.62 billion by 2030, at a CAGR of 14.8% from 2023 to 2030.

Following a comprehensive primary and secondary study and an in-depth analysis of the market scenario, this report provides the key drivers, constraints, challenges, and opportunities of the industry. This market is driven by the declining costs of sequencing, the increasing prevalence of cancer and genetic disorders, the growing utilization of NGS in disease diagnostics and precision medicine, and rising R&D investments and healthcare expenditures.

Furthermore, increasing applications of next-generation sequencing technology and collaborations between vendors to develop automated library preparation protocols provide a significant growth opportunity for this market. However, the availability of alternative technologies and the low chances of identifying positive actionable mutations for precision medicine may restrain the growth of this market. Additionally, the regulatory and standardization concerns in diagnostic testing and the limited expertise and sequencing capabilities of small & mid-sized laboratories pose a major challenge for the players operating in this market.

Based on product, in 2023, the reagents & consumables segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increased demand for reagents & consumables for NGS library preparation due to the high penetration of NGS technologies in disease diagnostics and genomic research.

Based on application, in 2023, the disease diagnostics segment is expected to account for the largest share of the NGS library preparation market. The increased utilization of NGS technologies, especially in precision medicine and companion diagnostics, and growing adoption in infectious disease diagnostics is expected to boost the growth of this segment.

Based on sequencing type, in 2023, the targeted sequencing segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increased adoption of this sequencing type due to its advantages, such as cost-effectiveness and rapid sequencing for identifying specific gene-associated diseases.

Based on end user, in 2023, the hospitals & diagnostic laboratories segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increased hospitalization rates, especially in developing economies, increased penetration of NGS technologies in hospitals & diagnostic laboratories, and the high prevalence of various infectious & chronic diseases requiring complex genomic sequencing.

An in-depth analysis of the geographical scenario of the global NGS library preparation market provides detailed qualitative and quantitative insights for the five major geographies (North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America) along with the coverage of major countries in each region.

In 2023, North America is expected to account for the largest share of the global NGS library preparation market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest-growing region of the global NGS library preparation market.

Market Dynamics

Drivers

• Declining Costs of Sequencing
• Increasing Prevalence of Cancer and Genetic Disorders
• Growing Utilization of NGS in Disease Diagnostics and Precision Medicine
• Rising R&D Investments and Healthcare Expenditures

Restraints

• Availability of Alternative Technologies
• Low Chances of Identifying Positive Actionable Mutations for Precision Medicine

Opportunities

• Increasing Applications of Next-generation Sequencing Technology
• Collaborations Between Vendors to Develop Automated Library Preparation Protocols

Challenges

• Regulatory and Standardization Concerns in Diagnostic Testing
• Limited Expertise and Sequencing Capabilities of Small & Mid-sized Laboratories

Scope of the Report:
NGS Library Preparation Market, by Product

• Reagents & Consumables
• Library Preparation Kits
• DNA Library Preparation Kits
• RNA Library Preparation Kits
• Other Reagents & Consumables
• Instruments & Workstations

NGS Library Preparation Market, by Application

• Disease Diagnostics
• Cancer Diagnostics
• Reproductive Health Diagnostics
• Infectious Disease Diagnostics
• Other Disease Diagnostic Applications
• Drug Discovery
• Other Applications

NGS Library Preparation Market, by Sequencing Type

• Targeted Genome Sequencing
• Whole Genome Sequencing
• Whole Exome Sequencing
• Other Sequencing Types

NGS Library Preparation Market, by End User

• Hospitals & Diagnostic Laboratories
• Pharmaceutical and Biotechnology Companies
• Academic Institutes & Research Centres
• Others End Users

Note: Other end users include forensic laboratories & security agencies, the food industry, and the agriculture industry

NGS Library Preparation Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific (RoAPAC)
• Latin America
• Middle East & Africa

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Insights

5 Global NGS Library Preparation Market, by Product

6 Global NGS Library Preparation Market, by Sequencing Type

7 Global NGS Library Preparation Market, by Application

8 Global NGS Library Preparation Market, by End User

9 NGS Library Preparation Market, by Geography

10 Competitive Landscape

11 Company Profiles

12 Appendix

Companies Mentioned

• Illumina Inc.
• Thermo Fisher Scientific Inc.
• QIAGEN N.V.
• Agilent Technologies Inc.
• Danaher Corporation
• Pacific Biosciences of California Inc.
• PerkinElmer Inc.
• F. Hoffmann-La Roche AG
• New England Biolabs Inc.
• Tecan Group Ltd.
• Merck KGaADiagenode S.A.

For more information about this report visit https://www.researchandmarkets.com/r/4gyprb-library?w=5

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