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Pharmaceutical

NGS Sample Preparation Market is expected to be valued at over US$ 4 billion by 2031

The global NGS sample preparation market is expected to surpass a valuation of US$ 4 billion by 2031, expanding at a whopping CAGR of approximately 16% across the 2021-2031 forecast period, according to a recent report published on the market by award-winning consulting firm Fact.MR. Next generation sequencing (NGS) has revolutionized genomic research, paving the way for highly effective diagnosis of numerous chronic and infectious diseases, a fact that is boding well for market growth.

Historically, the market accrued significant gains, surpassing US$ 750 million in value in 2019. In recent years, NGS has been widely deployed in clinical oncology to advance personalized cancer treatment. The technique has proven useful in identifying novel and rare cancer mutations, detecting familial cancer mutation carriers, and providing molecular rationale for appropriate targeted therapy.

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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.

Key Takeaways from Market Study

  • High demand for NGS sample preparation kits, reagents, and consumables
  • By application, NGS sample preparation for drug & biomarker discovery poised to reach higher echelons
  • Academic and research institutes to remain primary NGS sample preparation end users
  • Presence of robust healthcare system to pivot NGS sample preparation product sales across the U.S.
  • India to extensively deploy NGS sample preparation products to augment prenatal screening
ngs sample preparation market
“Prominent NGS sample preparation product manufacturers are testing uncharted waters by foraying into domains such as animal and plant health, to develop highly advanced diagnostic approaches and address multiple ailments, widening expansion prospects,”

comments a Fact.MR analyst.

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Competitive landscape:

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.

Get More Insights- https://www.biospace.com/article/ngs-sample-preparation-market-surging-at-16-percent-cagr-rising-demand-for-effective-treatment-of-chronic-diseases-driving-growth-fact-mr-study-/

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)

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