Newark, New Castle, USA, July 03, 2023 (GLOBE NEWSWIRE) -- A recent report by Growth Plus Reports estimated the global NGS library preparation market to be worth US$ 1.39 billion in 2022. From 2023 to 2031, market revenue is expected to grow at a CAGR of 13.1%, reaching US$ 4.21 billion. The most successful strategies, market trends, the competitive environment, significant drivers and opportunities, statistical data, market size, and revenue are all included in the report.
Key Takeaways:
- The rise in genetic disorders and the demand for precision medicine drive revenue growth.
- The quality improvisation and efficiency of the NGS library are driving the demand in various fields.
- The continuous R&D studies are creating a strong product pipeline.
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NGS Library Preparation Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 1.39 billion |
| Revenue forecast in 2031 | US$ 4.21 billion |
| Growth Rate | CAGR of 13.1% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments covered | Sequencing Type, Product, Application, End User, and Region. |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Market Drivers:
The increasing awareness regarding the importance of sequencing in healthcare for its significance in drug discovery, disease detection, and genetic testing is driving market revenue growth. Additionally, the high throughput DNA sample, optimized and precise results to discover disease-causing genetic mutations are accelerating the demand for the global NGS library preparation market.
Market Segmentation:
Growth plus reports have analyzed the global NGS library preparation market from sequencing type, product, application, end-user, and region perspectives.
Sequencing Type Segmentation:
Based on sequencing type, the global NGS library preparation market is segmented into whole genome sequencing, targeted genome sequencing, whole exome sequencing, and other sequencing types.
The targeted genome sequencing segment accounts for the largest revenue share in the global NGS library preparation market. This large revenue share is attributed to the wide significance of targeted genome sequencing to investigate a subset of genomic regions emphasizing specific genes or genomic locations.
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Product Segmentation:
Based on the product, the global NGS library preparation market is segmented as reagents & consumables and instruments.
The reagents & consumables segment accounts for the largest market revenue share. This large revenue share of this segment is attributed to the accuracy, reproducibility, rapidity, and high-quality sequencing data.
Application Segmentation:
Based on application, the global NGS library preparation market is segmented into drug & biomarker discovery and disease diagnostics.
Drug & biomarker discovery segment accounts for the highest market revenue share. This large revenue share is attributed to the efficient and optimized drug targets & biomarker identifications, which can be performed with NGS library preparation.
End-user Segmentation:
Based on end-user, the global NGS library preparation market is segmented into hospitals & clinics, academics & research institutions, and pharmaceutical & biotechnology companies.
The academics & research institution segment accounts for the largest market revenue share. This large revenue share is due to several advantages for academic and research institutions, including high throughput, cost-effectiveness, and the ability to generate huge amounts of data.
Regional Growth Dynamics:
Based on the region, the global NGS library preparation market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America accounts for the highest market revenue share, followed by Europe and Asia Pacific, due to the widespread usage of sequencing technology and favorable government and non-government initiatives for developing and deploying NGS.
Competitive Landscape:
The prominent companies operating in the global NGS library preparation market are:
- Thermo Fisher Scientific, Inc.
- Merck KGaA
- QIAGEN N.V.
- Agilent Technologies, Inc.
- Integrated DNA Technologies, Inc.
- F. Hoffman-La Roche Ltd.
- Illumina, Inc.
- Becton Dickinson and Company
- Pacific Biosciences of California, Inc.
- Tecan Group Ltd.
Many organizations focus on developmental strategies, new product launches, product approvals, and other components like patents and events. Acquisition, partnership, and collaboration activities were viewed by the market as inorganic development strategies. Due to these activities, the market for NGS library preparation has seen increasing demand and an expansion of future economic and business potential.
Recent Developments:
- In September 2022. the next-generation NovaSeq X devices from Illumina Inc. will be made available. They have a capacity of more than 20,000 whole genomes per year, 2.5 times that of earlier sequencers.
- In August 2022, the range of QIAGEN's next-generation sequencing (NGS) products was widened with the launch of the QIAseq UPXome RNA Library Kit and the QIAseq Targeted DNA Pro Panels. Both have created new criteria for nucleic acid sequence analysis of samples.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL NGS LIBRARY PREPARATION MARKET - ANALYSIS & FORECAST, BY SEQUENCING TYPE
- Whole Genome Sequencing
- Targeted Genome Sequencing
- Whole Exome Sequencing
- Other Sequencing Types
- GLOBAL NGS LIBRARY PREPARATION MARKET - ANALYSIS & FORECAST, BY PRODUCT
- Reagents & Consumables
- Library Preparation Kits
- DNA Library Preparation Kits
- RNA Library Preparation Kits
- Other Reagents & Consumables
- Library Preparation Kits
- Instruments
- Reagents & Consumables
- GLOBAL NGS LIBRARY PREPARATION MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Drug & Biomarker Discovery
- Disease Diagnostics
- Cancer Diagnostics
- Reproductive Health Diagnostics
- Infectious Disease Diagnostics
- Other Disease Diagnostics
- Others
- GLOBAL NGS LIBRARY PREPARATION MARKET - ANALYSIS & FORECAST, BY END USER
- Hospitals and Clinics
- Academic and Research Institutions
- Pharmaceutical and Biotechnology Companies
- Others
NGS LIBRARY PREPARATION MARKET TOC
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