NGS Sample Preparation Market

NGS Sample Preparation Market: By Product Class, Applications, End User and Region

Market Synopsis:

Global NGS Sample Preparation market is valued at USD 1.15 Billion in 2022 and is projected to attain a value of USD 3.52 Billion by 2030 at a CAGR of 15.00% during the forecast period, 2022–2028. Surveillance based on sequencing is proving to be a useful tool for detecting new Coronavirus strains and other undiscovered infections. As a result of India's release of COVID-19 vaccines, firms in the worldwide NGS Sample Preparation market are less under pressure to find mutations in the strain. Furthermore, firms like Illumina, a biotechnology corporation based in the United States, continue to supply crucial information to public health officials and researchers on the virus's global transmission paths. Companies in the NGS Sample Preparation business are stepping up their efforts to find viral alterations that could compromise vaccine efficacy. They're stepping up R&D to develop screen targets with promising COVID-19 therapeutic potential. Antimicrobial resistance alleles and respiratory co-infections are being identified and characterized by companies.

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The COVID-19 pandemic emerged as an unprecedented public health threat, infecting a large number of people all across the world. The pandemic caused economic and financial harm to the world economy and a number of industrial sectors. Several countries declared national emergencies and implemented lockdowns to stop SARS-CoV-2 from spreading and infecting people. The Coronavirus outbreak, on the other hand, has accelerated the adoption of emerging technologies in healthcare, including NGS Sample Preparation.

Increased Number of Genomic Research Projects

An increase in the number of genomic research initiatives around the world is another factor driving the market for NGS sample preparation. Because genetic research may provide detailed knowledge on biology, human history, and health inequities, as well as recognition of various key clinical implications, it is becoming increasingly popular. Because of advances in sequencing technology, exome and genome sequencing has recently permitted widespread genetic testing on an individual patient basis within a clinically meaningful timescale. As a result, NGS plays a critical role in the diagnosis and surveillance of a wide range of infectious diseases, which may drive NGS Sample Preparation market expansion.

Lack of Awareness & Understanding

The lack of awareness about its application in the healthcare industry has been a key impediment to the expansion of NGS Sample Preparation. The benefits of this innovative technology and how it works remain unclear to end users in the healthcare industry. Companies may be hesitant to invest in this rapidly developing technology as a result of this. Its potential for revolutionizing company operations has yet to be realized by investors, the general public, and entrepreneurs. One of the most significant barriers to NGS Sample Preparation adoption is a lack of understanding and public awareness. With the growing popularity and understanding NGS Sample Preparation will become increasingly important in the future. As a result, platforms to providing instruction in this subject will be established and spread.

Market Segmentation:

Global NGS Sample Preparation market is segmented on the basis of Product into Class Reagent & Consumables, and Workstations. Based on Applications into Diagnostics, Drug Discovery and Other Applications. By End User into Hospitals and Clinics, Pharmaceutical and Biotechnology Companies, Other End User. Based on region, the NGS Sample Preparation market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

North America to Continue Dominating the NGS Sample Preparation Market

In the global NGS Sample Preparation market, North America is the leading revenue-generating region. The large share of this regional segment can be attributed to favorable government and private sector initiatives for the development and adoption of NGS technologies, widespread adoption of NGS diagnostics in the region, growing NGS-based research and clinical applications in the region, growing cancer research, rising awareness of NGS services, and the presence of leading NGS service providers.

Key Players:

Some of the players in the NGS Sample Preparation market include Illumina Inc. (US), Agilent Technologies Inc. (US), Thermo Fisher Scientific Inc. (US), PerkinElmer Inc. (US), F.Hoffmann-La Roche AG (Switzerland).

NGS Sample Preparation market is segmented as follows:

NGS Sample Preparation market is tabulated as follows: