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 NGS sample preparation market is projected to grow from USD 1.1 billion in 2019 to USD 2.7 billion by 2024, at a CAGR of 18.7% during the forecast period.
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
Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=69735098
Based on product, the market is segmented into workstations and reagents & consumables. The reagents & consumables segment is sub segmented into library preparation, target enrichment, and quality control, on the basis of workflow.
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.
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 market in 2018
North America is the dominant revenue-generating region in the global NGS sample preparation market. The large share of this regional segment can mainly 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.
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), Becton, Dickinson and Company (BD) (US), Pacific Biosciences of California (US), PerkinElmer Inc. (US), F. Hoffmann-La Roche (Switzerland), and New England Biolabs, Inc. (US), among others.
Read More@
https://www.marketsandmarkets.com/PressReleases/ngs-sample-preparation.asp
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.
