NGS Sample Preparation Market to Reach Valuation of USD 4.32 Billion by 2028 - Increasing Improvements in NGS Platforms is Driving the Market

Vantage Market Research

Feb 16, 2022

In terms of revenue, the Global NGS Sample Preparation Market is expected to reach USD 4.32 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 15.00% from 2022 to 2028. Increasing improvements in NGS platforms as the expense of sequencing, and improved reimbursement scenarios for NGS-based diagnostic tests are driving the growth of NGS Sample Preparation Market.

Key Findings:

  • Under the product segment reagents & consumables, sub-segment is anticipated to dominate the segment for NGS Sample Preparation Market and growing at a substantial Compound Annual Growth Rate (CAGR). This is due to the novel technological advancement achieved in the field of medicine.
  • The Diagnostics sub-segment held a market significant share in 2021. This is the fastest segment growing in NGS Sample Preparation Market. Owing to the growing cases of cancer across the world, profitable reimbursement scenarios for NGS-based tests, and the growing focus of companies on developing NGS-based products & services for cancer and NIPT.
  • North America is the largest regional segment. This is attributed to the promising initiatives by management and private bodies for the expansion and adoption of NGS technologies, broad adoption of NGS diagnostics in the region.

Some of key players in NGS Sample Preparation Market includes - Illumina Inc. (US), Agilent Technologies Inc. (US), Thermo Fisher Scientific Inc. (US), PerkinElmer Inc. (US), F.Hoffmann-La Roche AG (Switzerland) are the major companies operating in Global NGS Sample Preparation Market..

Companies in the NGS sample preparation market are tapping into incremental possibilities in the areas of agriculture and animal research to widen their revenue streams. This is obvious since the market is expected to expand at an incredible during the review period. NGS is revolutionizing agricultural productivity and enabling the evaluation of its role in human health, gut, air, water, and soil microbiomes. Businesses in the NGS sample preparation market are expanding their research in the finding of new disease genes in animals pertaining to multigenic disorders. NGS is also allowing to track the source of plant diseases and is offering ways to eliminate them.

The NGS-based metagenomic screening has scintillated advancements in the field of cure drugs. Further foodborne viral diseases are occurring as a foremost cause for improved morbidity and mortality globally. Therefore, companies in the NGS sample preparation market are expanding their focus on viral partial genomic sequencing in order to track foodborne attacks. NGS is being used for the detection and description of the viral density in food. Thus, organizations are gaining a strong research ground in porcine samples that are spiked with various DNA and RNA viruses.

North America is expected to emerge as potential market for NGS Sample Preparation Market. This is attributed because of the requirement for a diagnostics tool for determining health disparities and the rising burden and increasing spread of the COVID 19 pandemic and chronic infections in the region.

NGS Sample Preparation Market by Product Class (Reagent and Consumables, Workstations), by Applications (Diagnostics, Drug Discovery, Other Applications), by End User (Hospitals and Clinics, Pharmaceutical & Biotechnology Companies, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)