NGS Sample Preparation Market worth $2.7 billion by 2024

 The global NGS sample preparation market is projected to reach USD 2.7 billion by 2024 from USD 1.1 billion in 2018, at a CAGR of 18.7% during the forecast period. Factors such as advancements in NGS platforms, reduced cost of sequencing, and improving reimbursement scenario for NGS-based diagnostic tests are driving the growth of this market.

The reagents, and consumables segment to dominate the overall NGS sample preparation market in 2018

Based on product, the NGS sample preparation market is segmented into workstations and reagents & consumables. The reagents & consumables segment was further subsegmented into library preparation, target enrichment, and quality control, on the basis of workflow.

In 2018, the reagents and consumables segment accounted for the largest share of the NGS sample preparation market. Factors such as the decreasing cost of sequencing; availability of cost-efficient and advanced NGS platforms; increasing applications of NGS in different fields such as drug and biomarker discovery, diagnostics, agro-genomics, and animal research; increasing research activity involving sequencing; and the availability of research grants (that are driving the adoption of NGS) have all contributed to the growth of this market.

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The diagnostics segment is estimated to grow at the highest CAGR during the forecast period

Based on application, the NGS sample preparation market is segmented into diagnostics, drug discovery, agricultural & animal research, and other applications. The diagnostics segment is estimated to grow at the highest rate during the study period owing to the growing number of new cancer cases across the globe, favorable reimbursement scenario for NGS-based tests in the US, and increasing focus of key market players on developing NGS-based products & services for cancer and NIPT.

North America dominated the NGS sample preparation market in 2018

Geographically, the NGS sample preparation market is segmented into North America (US and Canada), Europe (Germany, France, the UK, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), and the Rest of the World (RoW). North America accounted for the largest share of the overall NGS sample preparation market in 2018 followed by Europe.

The large share of North America can be attributed to the favorable initiatives by government and private bodies for the development and adoption of NGS technologies, wide adoption of NGS diagnostics in the region, increasing number of NGS-based research & clinical applications in the region, growing research on cancer, rising awareness of NGS services, and the presence of leading NGS service providers, in the region.

Key Players:

Some of the prominent players in the NGS sample preparation market include Illumina Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (US), Beckman Coulter (a subsidiary of Danaher), and Becton, Dickinson and Company (BD) (US) among others.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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NGS Sample Preparation Market worth $2.7 billion by 2024

 The global NGS sample preparation market is projected to reach USD 2.7 billion by 2024 from USD 1.1 billion in 2018, at a CAGR of 18.7% during the forecast period. Factors such as advancements in NGS platforms, reduced cost of sequencing, and improving reimbursement scenario for NGS-based diagnostic tests are driving the growth of this market.

The reagents, and consumables segment to dominate the overall NGS sample preparation market in 2018

Based on product, the NGS sample preparation market is segmented into workstations and reagents & consumables. The reagents & consumables segment was further subsegmented into library preparation, target enrichment, and quality control, on the basis of workflow.

In 2018, the reagents and consumables segment accounted for the largest share of the NGS sample preparation market. Factors such as the decreasing cost of sequencing; availability of cost-efficient and advanced NGS platforms; increasing applications of NGS in different fields such as drug and biomarker discovery, diagnostics, agro-genomics, and animal research; increasing research activity involving sequencing; and the availability of research grants (that are driving the adoption of NGS) have all contributed to the growth of this market.

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The diagnostics segment is estimated to grow at the highest CAGR during the forecast period

Based on application, the NGS sample preparation market is segmented into diagnostics, drug discovery, agricultural & animal research, and other applications. The diagnostics segment is estimated to grow at the highest rate during the study period owing to the growing number of new cancer cases across the globe, favorable reimbursement scenario for NGS-based tests in the US, and increasing focus of key market players on developing NGS-based products & services for cancer and NIPT.

Geographical Growth Scenario:

North America dominated the NGS sample preparation market in 2018

Geographically, the NGS sample preparation market is segmented into North America (US and Canada), Europe (Germany, France, the UK, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), and the Rest of the World (RoW). North America accounted for the largest share of the overall NGS sample preparation market in 2018 followed by Europe. The large share of North America can be attributed to the favorable initiatives by government and private bodies for the development and adoption of NGS technologies, wide adoption of NGS diagnostics in the region, increasing number of NGS-based research & clinical applications in the region, growing research on cancer, rising awareness of NGS services, and the presence of leading NGS service providers, in the region.

Key Players:

Some of the prominent players in the NGS sample preparation market include Illumina Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (US), Beckman Coulter (a subsidiary of Danaher), and Becton, Dickinson and Company (BD) (US) among others.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

NGS Sample Preparation - Emerging Innovation in the Global Industry

The study used four major activities to estimate the current market size for the NGS sample preparation market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Recent Developments:

# In 2019, QIAGEN N.V. launched its QIAcube Connect

# In 2018, Thermo Fisher Scientific (US) launched its Oncomine Childhood Cancer Research Assay, a comprehensive, next-generation sequencing (NGS) panel

# In 2018, Illumina entered into an agreement to acquire Pacific Biosciences.

# In 2018, Tecan acquired NuGEN Technologies, Inc., a US-based sequencing sample prep company.

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the NGS sample preparation market. These methods were also used extensively to estimate the size of various subsegments in the market. 

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The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.

# The industry’s supply chain and market size, in terms of value, 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.

The diagnostics segment is estimated to grow at the highest CAGR during the forecast period

Based on application, the NGS sample preparation market is segmented into diagnostics, drug discovery, agricultural & animal research, and other applications. The diagnostics segment is estimated to grow at the highest rate during the study period owing to the growing number of new cancer cases across the globe, favorable reimbursement scenario for NGS-based tests in the US, and increasing focus of key market players on developing NGS-based products & services for cancer and NIPT.

North America dominated the NGS sample preparation market in 2018

Geographically, the NGS sample preparation market is segmented into North America (US and Canada), Europe (Germany, France, the UK, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), and the Rest of the World (RoW). North America accounted for the largest share of the overall NGS sample preparation market in 2018 followed by Europe. The large share of North America can be attributed to the favorable initiatives by government and private bodies for the development and adoption of NGS technologies, wide adoption of NGS diagnostics in the region, increasing number of NGS-based research & clinical applications in the region, growing research on cancer, rising awareness of NGS services, and the presence of leading NGS service providers, in the region.

Some of the prominent players in the NGS sample preparation market include Illumina Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (US), Beckman Coulter (a subsidiary of Danaher), and Becton, Dickinson and Company (BD) (US) among others.

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Analysis of the developments in the NGS sample preparation market from 2016 to 2018 shows that product launches; agreements, partnerships and collaborations; expansions; and acquisitions were the most widely adopted growth strategies by players in the market. Players adopted these strategies to strengthen their market positions.

NGS Sample Preparation - On-Going Technological Advancements

The NGS sample preparation market comprises several stakeholders such as NGS equipment manufacturers, vendors, and distributors, NGS sequencing services companies, research laboratories and academic institutes, healthcare institutions (hospitals and diagnostic clinics), pharmaceutical and biotechnology companies, contract manufacturing organizations (CMOs), and contract research organizations (CROs). 

The demand side of this market is characterized by significant use of NGS sample preparation due to the increasing use of NGS in diagnostics and decreasing cost of NGS platforms. The supply side is characterized by advancements in NGS platforms and other products. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the NGS sample preparation market. These methods were also used extensively to estimate the size of various sub segments in the market. 

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The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.

# The industry’s supply chain and market size, in terms of value, 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.

Report Objectives:

# To define, describe, and forecast the NGS sample preparation market based on product, application, end user, and region

# To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges) along with the current trends

# To strategically analyze micromarkets with respect to their individual growth trends, future prospects, and contributions to the total market

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders

# To forecast revenue of the market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)

# To profile the key players and comprehensively analyze their market shares and core competencies

# To track and analyze competitive developments such as product launches; agreements, partnerships, and collaborations; and mergers & acquisitions; in the NGS sample preparation market

Factors Influencing Global Growth:-

Factors such as advancements in NGS platforms, reduced cost of sequencing, and improving reimbursement scenario for NGS-based diagnostic tests are driving the growth of this market.

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Restraints:

# End User Budget Constraints in Developing Countries

Opportunities:

# Initiatives and Funding From Government & Private Bodies for Large-Scale Sequencing Projects

# Increasing Applications of NGS

Challenges:

# Ethical Issues

Monetary Growth Expectations, Globally:

According to the Research Study conducted by MarketsandMarkets™: The global NGS sample preparation market is projected to reach USD 2.7 billion by 2024 from USD 1.1 billion in 2018, at a CAGR of 18.7% during the forecast period.

Geographical Growth Scenario:

Geographically, the NGS sample preparation market is segmented into North America (US and Canada), Europe (Germany, France, the UK, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), and the Rest of the World (RoW). North America accounted for the largest share of the overall NGS sample preparation market in 2018 followed by Europe. 

The large share of North America can be attributed to the favorable initiatives by government and private bodies for the development and adoption of NGS technologies, wide adoption of NGS diagnostics in the region, increasing number of NGS-based research & clinical applications in the region, growing research on cancer, rising awareness of NGS services, and the presence of leading NGS service providers, in the region.

Leading Market Players:

# Illumina Inc. (US)

# Thermo Fisher Scientific (US)

# QIAGEN N.V. (Germany)

# Agilent Technologies, Inc. (US) and many more…

Analysis of the developments in the NGS sample preparation market from 2016 to 2018 shows that product launches; agreements, partnerships and collaborations; expansions; and acquisitions were the most widely adopted growth strategies by players in the market. Players adopted these strategies to strengthen their market positions.

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