The market size of the Global Next Generation Sequencing Library Preparation Market in the year 2021 is valued at 1.44 billion and is predicted to reach 3.96 billion by the year 2030 at an 12.13% CAGR during the forecast period.
The massively sequencing technology known as "next-generation sequencing" (NGS) provides extremely high throughput, scalability, and speed. The global market for NGS sample preparation is projected to be stimulated by developments in the life sciences sector that reduce workflow to increase effectiveness and quality. The main obstacles to the expansion of this industry include issues with regulations and standards in diagnostic testing, as well as the limited experience and sequencing capabilities of mid and small-sized laboratories. Companies in the NGS sample preparation market are expanding their income streams by taking advantage of new animal research and agriculture prospects. This is clear given that the market is expected to grow at an astounding CAGR throughout the evaluation period. The need for NGS sample preparation will continue to grow both now and in the future.
Furthermore, the current studies and research in this area fuel the market expansion for NGS sample preparation. Governmental and non-governmental entities fund research organizations for their NGS sample preparation initiatives. Businesses in the NGS sample preparation market are building a solid research foundation for determining how coronavirus strains may impact animal health. To prevent food waste globally, NGS is assisting in tracing the origin of plant illnesses. A thorough description of the RNA and DNA virome that causes foodborne viral infections is also provided by viral partial genomic sequencing.
Market Segmentation:
The next-generation sequencing library preparation market is segmented on the sequesncing type, product, applications and end-use. Based on the sequencing type, the next-generation sequencing library preparation market is segmented into Targeted Genome Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, and Other Sequencing Types. Based on product, the next-generation sequencing library preparation market is segmented into Reagents & Consumables (DNA library preparation kits, library preparation kits, RNA library preparation kits, other reagents & consumables) and instruments. Based on application, the next-generation sequencing library preparation market is segmented into Drug & Biomarker Discovery, Disease Diagnostics (Cancer Diagnostics, Reproductive Health Diagnostics, Infectious Disease Diagnostics, Other Disease Diagnostic Applications), drug discovery and other applications. Based on end-use, the next-generation sequencing library preparation market is segmented into Hospitals and Clinics, Academic and Research Institutions, Pharmaceutical and Biotechnology Companies, and Others.
Based on the product, the library preparation kit segment is a major contributor to the next-generation sequencing library preparation market.
The most significant revenue share was accounted for by the library preparation category, which is anticipated to dominate the NGS sample preparation market over the projected period because of the rising prevalence of cancer medical problems and the increased importance of research operations. Furthermore, new opportunities for sample sequencing at astounding levels of coverage have been opened up by recent developments in library preparation sequencing kits. With technology, library preparation can sequence nucleic acids and has significantly higher sensitivity than other traditional approaches.
The hospital & diagnostics segment witnessed growth at a rapid rate.
Hospitals & diagnostics grabbed the highest revenue share, and it is anticipated that they will continue to hold that position during the expected time. The high proportion of this market can be ascribed to some factors, including the expanding applications of NGS in medicine, the rising use of NGS in the diagnosis of infectious diseases, hereditary diseases, and cancers, and the expanding use of precision medicine. The accuracy and consistency of genetic diagnosis have increased due to the growing use of NGS in diagnostic laboratories. Advanced genetic diagnostic techniques are used in prenatal and predictive genetic testing.
The North American next-generation sequencing library preparation market holds a significant regional revenue share.
The North American next-generation sequencing library preparation market is expected to register the highest market share in revenue soon. This is because sequencing technology and NGS sample preparation sequencing solutions are widely used there. Additionally, the rise in NGS-based clinical and research applications and the favourable government and private body activities for developing and implementing NGS technologies all contribute to the regional market's growth. Besides, the Asia Pacific market is anticipated to grow the fastest over the next few years. The expansion of medical research, the growing popularity of specific treatments, and the presence of eminent service providers in the area are further likely to boost the regional market growth.
Competitive Landscape
Some major key players in the Next Generation Sequencing Library Preparation market are Agilent Technologies, Inc., Integrated DNA Technologies, F. Hoffmann-La Roche AG, Inc., Illumina, Inc., Beckman Coulter Inc. (now part of Danaher Corporation), Merck KGaA, Becton, Dickinson and Company, New England Biolabs, Inc., PerkinElmer Inc., QIAGEN N.V., Pacific Biosciences of California, Inc., Thermo Fisher Scientific Inc., and Tecan Group Ltd.
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