NGS Sample Preparation Market worth $4.0 billion by 2028

Posted April 1, 2024 by mmvaidya01

Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments.

Overview of This Study:

In order to determine the current size of the NGS sample preparation market, this study engaged in four main actions. A thorough investigation was conducted using secondary research methods to gather data about the market, its parent market, and its peer markets. The following stage involved conducting primary research to confirm these conclusions, hypotheses, and sizing with industry experts throughout the value chain. A combination of top-down and bottom-up methods was used to assess the overall market size. Subsequently, methods for data triangulation and market breakdown were employed to estimate the market size of various segments.

Market Size Estimation:

The entire size of the NGS sample preparation market was estimated and validated using both top-down and bottom-up methods. The size of different market subsegments was also widely estimated using these techniques. The following is a list of the research methods utilized to determine the market size:

# The key players in the industry and market have been identified through extensive secondary research
# The revenues generated from the NGS sample preparation business of leading players have been determined through primary and secondary research
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

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Major Growth Driving Factors:

The use of NGS as a PCR substitute, the development of NGS platforms, the decreasing cost of sequencing, the efficiency of genotyping and preparation methods, and others are some of the key drivers propelling the growth of this industry. The development of the market, however, may be hampered by the existence of substitute technologies that lack the specific knowledge and sequencing capacities of individual laboratories.

Revenue Growth Projections:

Revenue from the global NGS sample preparation market was projected to be $1.9 billion in 2022 and is expected to rise at a compound annual growth rate (CAGR) of 13.4% from 2022 to 2028, when it is expected to reach $4.0 billion.

Data Triangulation:

Following the completion of the market size estimation process, the entire market was divided into multiple parts. Data triangulation and market breakdown processes were used where appropriate to finish the entire market engineering process and provide precise statistics for every category. Through an analysis of numerous variables and patterns from the supply and demand sides, the data was triangulated.

Driver: Increased effectiveness of preparation and genotyping procedures

Due to its high resolution available for genotyping, human whole genome sequencing has been developing tremendously in recent years and has set a new standard for itself in the bacterial infection outbreak. Because NGS sample preparation is used for genotyping, it has proven to be the most important technology for investigating bacterial outbreaks. NGS sample preparation is primarily carried out using Illumina machines, while other major companies such as ThermoFisher and PerkinElmer can also be employed. Because it requires less hands-on time and can operate with small amounts of DNA, enzymatic fragmentation library preparation is superior to other techniques.

Restraint: Existence of substitute technologies

Additional methods for diagnosing different diseases include the use of Sanger, antigen testing, polymerase chain reaction (PCR), and serological testing. Sanger sequencing has dominated genomics research for the last 20 years and produced several noteworthy advances in the field. By looking for antibodies in the blood, serological tests are performed to identify the viruses present in the body. Numerous antibodies produced by the immune system can also be found by serological testing.

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Opportunity: Growing alliances and cooperation amongst important actors

Many major actors, including hospitals, clinics, academic institutions, research labs, and other pharmaceutical and biotechnology corporations, are working together. Examples of these partners include Illumina, Thermo Fisher Scientific, and PerkinElmer. New products, research projects, and technologies are being introduced to the market as a result of these tactics. The growing use of NGS sample preparation is anticipated to make these projects lucrative growth possibilities for market participants.

Key Players:

The market for NGS sample preparation is highly consolidated, with key players strategizing to capture the market. Prominent players in the NGS sample preparation market are 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), and Swift Biosciences Inc. (US).

Different Growth Strategies Adopted by Them:

Most companies in the market focus on organic and inorganic growth strategies, such as service launches, expansions, acquisitions, partnerships, agreements, and collaborations, to increase their service offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags ngs sample preparation market , ngs sample preparation
Last Updated April 1, 2024