The NGS sample preparation market is projected to reach USD 4.0 billion by 2028 from USD 1.9 billion in 2022, at a CAGR of 13.4%

NEW YORK, March 16, 2023 /PRNewswire/ -- The NGS sample preparation market is projected to reach USD 4.0 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.

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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 in the NGS Sample Preparation market

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.

The primary interviews conducted for this report can be categorized as follows:

• By Respondent: Supply Side- 60% and Demand Side 40%
• By Designation: Executives - 40%, Research Scientists- 30%, and Managers - 30%
• By Country: North America- 22%, Europe- 42%, Asia Pacific- 11%, Latin America- 20%, and MEA- 5%

Prominent Players

• Illumina, Inc. (US)
• Thermo Fisher Scientific Inc. (US)
• PerkinElmer Inc. (US)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• Agilent Technologies, Inc. (US)
• Danaher (US)
• Becton, Dickinson and Company (US)
• Merck KGAA (Germany)
• QIAGEN (Germany)
• Bio-Rad Laboratories, Inc. (US)
• Promega Corporation (US)
• Eurofins Scientific (Luxembourg)
• BGI (China)
• 10x Genomics (US)
• Sysmex Corporation (US)
• Psomagen (US)
• Zymo Research Corporation (US)
• Takara Bio Inc. (Japan)
• Novogene Co., Ltd. (China)
• New England Biolabs (US)
• Tecan Trading AG (US)
• Oxford Nanopore Technologies PLC (UK)
• PacBio (US)
• Medgenome (US)
• Swift Biosciences Inc. (US)

Research Coverage:

This report provides a detailed picture of the NGS sample preparation market.It aims at estimating the size and future growth potential of the market across different segments, such as the product & services, workflow, sample type, method, applications, end user, and region.

The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall NGS sample preparation market and its segments.It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies.

This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, trends, opportunities, and challenges.

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