NGS Sample Preparation Market Surging at 16% CAGR; Rising Demand for Effective Treatment of Chronic Diseases Driving Growth: Fact MR Study.
Fact MR: The global next generation sequencing (NGS) market is forecast to surpass valuation of US$ 4 billion by end of 2031. Sequencing-based surveillance is an emerging way to detect various bacterial and viral strains. As per a report by Fact.MR, the global NSG sample preparation market is estimated to expand at a CAGR of over 16% in the forecast period of 2021-2031.
In recent years, NGS sample preparation market gained growth due to advancements in clinical oncology to offer effective cancer treatment. NGS sample preparation technique has proved effective approach in identifying novel and rare cancer mutations and in detecting familial cancer mutation carriers. Thus, increasing prevalence of the diseases will boost the demand for NGS sample preparation.
Some of the leading companies are participating in various research initiatives to find effective cure for chronic ailments. Their efforts are likely to bode well for the market.
For instance, in May 2021, BGI Group signed agreement with Ethiopian Biotechnology Institute (EBiT) to conduct the HPV genotyping pilot project, to complete 2,000 sample screenings from Ethiopia, and to establish a new model of HPV screening, diagnosis, and treatment. Increasing awareness regarding various technologically advanced diagnostic methods has emerged as chief growth drivers.
Growth registered increased amid Covid-19 pandemic, as healthcare manufacturers leveraged advanced vitro diagnostic solutions and other testing approaches to detect infection in patients.
"Rapid advancements in healthcare diagnostics technology have proven to be a boon for global NGS sample preparation. With some of the leading players investing in research initiatives, the market will register impressive growth opportunities in the coming years, "said a Fact MR analyst.
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- Academic Institutes and research centers are primary NGS sample preparation end users.
- The U.S. is dominating NGS sample preparation market backed by its high robust healthcare system.
- NGS sample preparation market in India is expected to gain from increasing application in non-invasive prenatal screening.
- Based on the application, of NGS sample preparation use will continue rising in drug and biomarker discovery.
- Rising prevalence of infectious diseases will drive the global NGS sample preparation market.
- Advancements in healthcare diagnostics technology will propel the market growth
- High demand for NGS sample preparation kits, reagents, and consumables in hospitals, diagnostic centers, biotechnology & pharmaceutical companies, and academic & research institutes will drive sales.
- Strict regulatory government requirements for diagnostic approval are restraining the growth of the NGS sample preparation market.
- High costs of procedures might hamper the global market growth.
- Lack of skilled professionals for advance NGS sample preparation is negatively affecting the growth of the market
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Key players in NGS Sample Preparation Market are adopting various strategies to increase their revenue share. For instance:
- In April 2021, QIAGEN N.V introduced the QIAseq DIRECT SARS-CoV-2 Kit, a viral genome enrichment and library preparation solution to reduce library turnaround times and plastics use for NGS.
- Thermo Fisher Scientific approved a definitive agreement to acquire PPD Inc. at a purchase price of US$ 17.4 billion to enhance innovation and development in drug productivity.
- In May 2021, Integrated DNA Technologies (IDT) Inc. collaborated with Swift Biosciences to augment its NGS library preparation genomics kits for academic, translational and clinical research.
Other key players operating in market are Merck KGaA (Merck Millipore), F. Hoffmann-La Roche Ltd, Agilent Technologies, Promega Corporation, Illumina Inc, Integrated DNA Technologies Inc. (Danaher Corporation), New England Biolabs, and Tecan Trading AGing.
More Insights on the Global NGS Sample Preparation Market:
Fact MR, in its new offering, brings to fore an unbiased analysis and global industry analysis of the global NGS sample preparation market, presenting historical demand data (2016-2020) and forecast statistics for the period (2021-2031). The study divulges compelling insights on the NGS sample preparation market with detailed segmentation based on product type (NGS sample preparation instruments, sample preparation kits, reagents, and consumables), based on application (NGS sample preparation for drug and biomarker discovery, sample preparation for diagnostics sample preparation for precision medicines, and others as agriculture and animal research), based on end users (hospitals and diagnostic centers, biotechnology, pharmaceutical , and academic and research institutes)
Key Questions Covered in the Report
- How will the NGS sample preparation market expand through 2030?
- Which top manufacturing companies are leading the global NGS sample preparation market?
- What are the key drivers and opportunities that will stimulate NGS sample preparation market sales?
- What are the restraints that will affect the sales of the NGS sample preparation market?
- Which region will remain the most lucrative throughout the forecast period?
- What is the impact of Covid-19 on the NGS sample preparation market?
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