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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