Robust Growth in NGS Sample Preparation Market due to Significant Investments by Healthcare Companies

 

Next-generation sequencing (NGS) provides sequence profiling from transcriptomes and genome to deoxyribonucleic acid (DNA)-protein interactions. The technologies used in the workflow of sequencing are an integral part of research and discovery in biology. 

The increasing number of new cancer cases across the globe, favorable regulatory and reimbursement scenarios for NGS-based tests in the U.S. and increasing focus of key market players on developing NGS-based products for cancer and noninvasive prenatal testing (NIPT). Moreover, next-generation sequencing techniques are widely used for the diagnosis of genetic diseases. The increasingly widespread use of NGS in diagnostic laboratories has enhanced the accuracy of genetic diagnostics with high consistency.

As per BIS Research analysis the NGS sample preparation market is expected to witness robust growth. The market growth for NGS sample preparation is attributed to the use of NGS sample preparation in medical science, which has witnessed robust growth due to the continued significant investments by healthcare companies to meet industry demand.

The global market for NGS sample preparation from 2020 to 2026. The market size was estimated at $1,468.9 million in 2020 and is expected to grow at a robust rate and is anticipated to reach $3,279.3 billion in 2026 with a CAGR of 14.24% during the forecast period 2021-2026. 

Growth in this market is driven by the rising adoption of next-generation sequencing techniques that are widely used for the diagnosis of genetic diseases. Furthermore, the increasingly widespread use of NGS in diagnostic laboratories has enhanced the accuracy of genetic diagnostics with high consistency. Advanced genetic diagnostic techniques are being used for predictive genetic testing and prenatal diagnosis. As the number of people suffering from genetic disorders is increasing, the efficiency and consistency of the diagnostic screening tests are becoming more crucial. Faster results with minimum errors are required to effectively screen a genetic disorder. The automated NGS sample preparation enhances the consistency and throughput of sample preparation for genetic sequencing.

Dominating Product Type in the Global NGS Sample Preparation Market

The high share of the consumables market in the NGS sample preparation products segments is majorly attributed to the growing demand for assays and kits, increasing research activities related to DNA, RNA, and whole-genome sequencing. In addition, the massively growing demand for consumables with the installed base of automated workstation instruments for DNA analysis by various end users, such as research and academic institutions, diagnostic centers, and central research organizations, is expected to support the growth of the consumables segment that has significantly contributed to the attainment of a high share by the product segment in the global NGS sample preparation market.

 Integrated DNA Technologies, Inc launched xGen Prism DNA Library Prep Kit, which was manufactured to produce high-quality NGS data. The kit also helps to detect cancer mutations.

 Fastest Growing Region in the Global NGS Sample Preparation Market

 The Asia-Pacific market is expected to grow in the forthcoming period due to an increase in healthcare awareness, a steady economy leading to a higher focus on research, and the implementation of improved methods of diagnosis. Further, it has been observed that several new and advanced sequencing techniques, such as whole-genome sequencing and single-cell sequencing, are being implemented to help enable researchers to utilize disease-specific DNA and RNA information to improvise therapeutic and diagnostic research in the Asia-Pacific region. 

Key Competitors in the NGS Sample Preparation Market

 NGS sample preparation market has been dominated significantly by companies such as Agilent Technologies, Bio-Rad Laboratories, BGI, Danaher Corporation, F-Hoffmann-La Roche Ltd., Hamilton Company, Illumina, Inc., New England Biolabs, Inc., Oxford Nanopore Technologies, Ltd., QIAGEN N.V., PerkinElmer, Inc., Promega Corporation, and Thermo Fisher Scientific, Inc. 

Market dominance was attributed to the company’s role as a major manufacturer in the market, along with the company’s strong geographical footprint serving various end users. Agilent Technologies Inc. was the second-leading company in the market, primarily due to its diverse portfolio of sequencing kits.

Key Growth Strategies in the NGS Sample Preparation Market

 The global NGS sample preparation market has been dominated significantly by companies such as QIAGEN N.V., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., and Illumina Inc., owing to their expansive product and service portfolios. However, due to emerging industry-industry collaborations and the increasing influx of funds into smaller companies, the market is extremely dynamic. The market is witnessing the emergence of a huge number of smaller companies and larger companies adopting strategic measures to establish their dominance.

Agilent Technologies Inc. dominate the market, and companies such as Illumina Inc. are expected to witness the highest growth. Illumina Inc. is one of the leaders in the market; however, owing to its aggressive strategies, the company has been able to turn massive profits over the last two years, making it the fastest-growing company in the global market.

Major Factors that are Influencing Growth in the Global NGS Sample Preparation Market

The technological advancements in the field of genetic analysis and testing have the potential to foster growth in the market. Companies are launching products with new technologies and expanding their footprints to consolidate their presence to cater to the growing demand for NGS. Companies dealing in diagnostic and screening instrumentation are changing their focus to develop technologically advanced automated systems which could provide efficient and error-free results in a limited time frame. The amalgamation of automation with medical diagnostics and screening has opened new opportunities in the field of genomics research. Hence, these successful innovations of NGS sample preparation products offered by the key industry players are likely to enhance diagnostic and research results, thereby providing quality results.

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