The NGS sample preparation market to register a CAGR of 18.7% from 2019 to 2024
NEW YORK, May 14, 2019 /PRNewswire/ --
The NGS sample preparation market to register a CAGR of 18.7% from 2019 to 2024.
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The NGS sample preparation market is projected to reach USD 2.7 billion by 2024 from USD 1.1 billion in 2019, at a CAGR of 18.7% during the forecast period. The growth of this market is driven by increasing application of NGS in diagnostics and genomics research, increasing adoption of NGS for diagnostics (due to the decreasing cost of NGS products and services), and development of low-cost sequencing technologies are expected to drive the market growth in the future.
The library preparation products segment to register the highest CAGR in the NGS reagents and consumables market.
Based on workflow, the reagents & consumables segment is subsegmented into library preparation, target enrichment, and quality control.Library preparation segment is classified into DNA (Human WGS, targeted sequencing, whole exome sequencing, and others) and RNA (gene expression analysis, whole transcriptome, and others) on the basis of type.
In 2018, the library preparation segment accounted for the largest share of the NGS reagents and consumables market. Advancements in the NGS protocols for library preparation and the increasing number of research activities are driving the growth of the library preparation market.
The academic institutes & research centers segment is expected to dominate the end-user segment.
Based on end user, the NGS sample preparation market is segmented into academic institutes & research centers, hospitals & clinics, pharmaceutical & biotechnology companies, and other end users.The academic institutes & research centers segment is expected to account for the largest share the NGS sample preparation market during the forecast period.
The increasing number of collaborations between NGS market players and academic & research institutions; availability of financial support for genomics R&D across regions; and the development of cost-effective NGS products and services for researchers are the major factors supporting the growth of this end-user segment.
The NGS sample preparation market in the APAC is projected to grow at the highest rate during the forecast period.
The Asia Pacific NGS sample preparation market is expected to witness the highest CAGR from 2019 to 2024. Increasing financial support from public as well as private agencies, increasing number of NGS-based research projects, increasing awareness about precision medicine, and high incidence of chronic diseases in key APAC countries are the major factors driving the growth of this regional market.
Breakdown of supply-side primary interviews, by company type, designation, and region:
• By Company Type: Tier 1 - 31% , Tier 2 - 49%, and Tier 3 - 20%
• By Designation: C-level - 28%, Director-level - 19%, and Others - 53%
• By Region: North America - 33%, Europe - 31%, APAC - 19%, and RoW - 17%
Several companies such as Illumina Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (US), and Beckman Coulter (a subsidiary of Danaher), among others, are investing in high-growth markets to gain significant profits and increase their share in the NGS sample preparation market.
Research Coverage
This report studies the NGS sample preparation market based on product, end user, application, and region.The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
It evaluates opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total market.
The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on NGS sample preparation offered by the top 15 players in the market. The report analyzes the NGS sample preparation market by product, application, end user, and region.
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for NGS sample preparation across key geographic regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the NGS sample preparation market.
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and recent developments of the leading players in the NGS sample preparation market.
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