ALBANY, N.Y., March 8, 2021 /PRNewswire/ -- Genomic studies have been transformed by next-generation sequencing. With dwindling prices and an increasingly growing number and variety of sequencing applications, NGS technology has improved considerably. The growth of the global NGS sample preparation market is being fuelled by better reimbursement scenario for NGS-based diagnostic tests, lower cost of sequencing, and developments in these systems. Although the costs of NGS have decreased to some degree, they have not yet reached a point where they can be widely adopted in developing parts of the world. This is likely to constitute a major impediment toward business expansion.
Surveillance based on sequencing is proving to be a useful tool for the detection of new coronavirus strains and various other unidentified pathogens. As a result, India's launch of Covid-19 vaccines has reduced the burden on firms in the global NGS sample preparation market to identify mutations in the strain. In addition to that, companies like Illumina, a biotechnology corporation based in the United States, continue to provide useful information to researchers and public health authorities on the virus's global transmission routes.
Firms in the NGS sample preparation market are stepping up their efforts to find viral mutations that could possibly compromise efficacy of the vaccine. They are stepping up research and development activities to develop screen targets with encouraging COVID-19 therapeutic potential. Antimicrobial resistance alleles and respiratory co-infections are being identified and characterised by these firms. Such initiatives are likely to foster growth of the global NGS sample preparation market over the analysis timeline, from 2020 to 2030.
The global NGS sample preparation market was worth around US$ 758.5 Mn in 2019. From 2020 to 2030, the market is expected to clock stellar growth at ~16 % CAGR. The production of items that allow the creation of high-quality libraries of appropriate quality and even the output for effective sequencing can be attributed to such rise in revenue.
Emergence of Microfluidic Devices to Accelerate Growth of the Market
Next-generation sequencing (NGS) is witnessing a dramatic transformation. It is moving from a research-based technique to one that is utilized in various clinical diagnostics. Firms, on the other hand, face challenges in library planning and various automation techniques. Pipetting workstations have been discovered to allow high throughput processing whilst limiting versatility during procedures. As a result of this, microfluidic solutions have emerged, which hold a lot of promise due to their low cost of investment and miniaturisation.
For automation, microfluidic devices are being utilized. Microfluidic devices, on the other hand, are relatively recent, with only a few being commercialised. As a result, businesses in the global NGS sample preparation market are collaborating with educational institutions to progress in the sector of microfluidic systems and pipetting workstations, with the purpose of evaluating their use in library preparation protocols.
High Demand for Use in Agricultural Production to Pave Way for Rapid Market Growth
In addition to medical services, companies in the global NGS sample preparation market are expanding their revenue sources by pursuing incremental opportunities in animal science and agriculture sectors. NGS is transforming agricultural production whilst also assisting in the evaluation of its effect on the soil microbiomes, water, air, gut, and health of human beings. Firms in the global NGS sample preparation market are stepping up their efforts to figure out new genes of disease in animals suffering from multigenic disorders. NGS is also assisting in tracing the origins of plant diseases and recommending ways to eradicate them.
Makers of NGS sample preparation equipment and service providers are working together to create new and more accurate diagnostic tools. Pre-diagnosis of numerous hereditary and chronic illnesses, such as diabetes and cancer and some neurological conditions, is largely based on genetic testing.
The proliferation in developing markets and implementation of advanced technologies are driving the global NGS sample preparation market. In addition, advancements in the life sciences sector, such as simplified workflow to increase productivity and quality, are propelling growth of the market.
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