NGS Sample Preparation Market - Emerging Advancements in NGS Platforms
Overview of This Study:
The study used four major activities to estimate the current market size for the NGS Sample Preparation Method Market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Research Methodologies Followed for This Study:
In the secondary research process, various secondary sources such as annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases (such as D&B Hoovers, Bloomberg Businessweek, and Factiva) were referred to in order to identify and collect information for this study.
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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.
Expected Surge in Revenue:
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
Growth Influencing Factors:
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 NGS Sample Preparation Method Market. However, while the costs involved in NGS have reduced to some extent, they have not reached a level where broad adoption across developing markets can be achieved. This is a key restraint for market growth.
# In 2019, QIAGEN N.V. launched its QIAcube Connect
# In 2018, Thermo Fisher Scientific (US) launched its Oncomine Childhood Cancer Research Assay, a comprehensive, next-generation sequencing (NGS) panel
# In 2018, Illumina entered into an agreement to acquire Pacific Biosciences.
# In 2018, Tecan acquired NuGEN Technologies, Inc., a US-based sequencing sample prep company.
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North America dominated the NGS sample preparation market in 2018
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.
- Markets and Markets Research Pvt. Ltd.
- Prasad Shelke
- Website: NGS Sample Preparation Market