Global Next Generation Sequencing Sample Preparation Market Analysis & Forecast 2024-2034: The Surge of Next Generation Sequencing in Diagnostics and Drug Discovery

Dublin, May 24, 2024 (GLOBE NEWSWIRE) -- The "Global Next Generation Sequencing Sample Preparation Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.

The global next generation sequencing sample preparation market size was estimated to be USD 2.2 billion in 2023 and is expected to reach at USD 8.84 billion by 2034 with a CAGR of 13.48% during the forecast period 2024-2034.

Increasing use of Next-Generation Sequencing (NGS) as an alternative to PCR, a rising adoption of NGS for diagnostic purposes, surge in collaborations & partnerships among market players, continuous technical advancements in NGS platforms, a growing prevalence of infectious diseases, an upswing in genomic research, and an increasing introduction of new NGS products are notable factors boosting the market growth.

An increasing introduction of new NGS products is predicted to boost the market growth during the forecast period. Traditional sequencing methods have been replaced by NGS technologies, primarily due to their cost-effectiveness and heightened sequencing efficiency. The quick sequencing capability and versatility of NGS make it valuable for research and improvement purposes, leading market players to introduce advanced products.

By product class, reagents & consumables was the highest revenue-grossing segment in the global next generation sequencing sample preparation market in 2023 owing to the increasing collaborations among industry participants involve the development of specialized samples to optimize outcomes from sequencing, utilizing suitable laboratory reagents, and a rise in research & development efforts. Additionally, instrument is predicted to grow at the fastest CAGR during the forecast period owing to the capability to generate vast amount of data through sequencing renders Whole Genome Sequencing (WGS) a powerful tool for genomics research and increase in the launch of advanced & innovative sequencing instruments. For instance, in February 2024, Singular Genomics Systems, Inc., a firm utilizing innovative next-generation sequencing (NGS) and spatial multiomics technologies to empower researchers and clinicians, introduced the G4X Spatial Sequencer.

By applications, diagnostics was the highest revenue-grossing segment in the global next generation sequencing sample preparation market in 2023 owing to the growing utilization of next-generation sequencing sample preparation in drug development, a rise in product approvals associated with NGS diagnostics, and increase in product launches. For instance, in November 2022, Illumina, Inc. has introduced a novel research test designed for the identification of genitourinary pathogens and antimicrobial resistance (AMR). Known as the Illumina Urinary Pathogen Infectious Disease/Antimicrobial Resistance (ID/AMR) Panel (UPIP), this test employs precision metagenomics to identify and measure pathogens, including drug-resistant ones responsible for complex and recurring urinary tract infections (UTIs). Additionally, drug discovery is predicted to grow at the fastest CAGR during the forecast period owing to the rising collaborations among companies, growing advancements in technology, and surge in research & development of novel drugs.

By end-user, hospital & clinics was the highest revenue-grossing segment in the global next generation sequencing sample preparation market in 2023 owing to the rising prevalence of genetic disorders, cancer, infectious diseases, & rare diseases, growing number of patients admitting to the hospitals. Additionally, pharmaceutical and biotechnology companies is predicted to grow at the fastest CAGR during the forecast period owing to the growing research & development efforts and rising introduction of advanced NGS products. For instance, in September 2022, Illumina, Inc. has unveiled the NovaSeq X Series, consisting of NovaSeq X and NovaSeq X Plus, representing new production-scale sequencers. These sequencers are designed to redefine the boundaries of genomic medicine, facilitating faster, more potent, and more environmentally sustainable sequencing capabilities.

North America region is anticipated for the highest revenue share during the forecast period owing to the increasing demand for diagnostic tools to identify health disparities, growing prevalence of infectious & chronic diseases, advancing technology, and an upsurge in partnerships among key market players. For instance, in January 2022, In order to ensure that its Watchmaker DNA Library Prep Kits are compatible with Fragmentation for the G4 sequencing technology, Singular Genomics Systems, Inc. has established a cooperation with Watchmaker Genomics. Singular Genomics Systems, Inc. is a business that enables researchers and physicians with cutting-edge next-generation sequencing (NGS) and multiomics technology.

Additionally, Europe is predicted to grow at fastest CAGR during the forecast period owing to the rising funding from both the federal government & private entities, increase in the introduction of new products, a growing embrace of innovative Next-Generation Sequencing (NGS) technology, and a surge in collaborations among market players. For instance, in September 2022, QIAGEN has partnered with Neuron23 to collaborate on the creation of Next-Generation Sequencing (NGS) companion diagnostics. These diagnostics will be developed using Neuron23's exclusive molecule, a leucine-rich repeat kinase inhibitor designed for the treatment of Parkinson's disease and known for its ability to penetrate the brain.

Study Coverage

• Market Forecast by Type, Material, Product, and End-user
• Market Forecast for 5 Regions and 17+ Countries
  • North America (U.S. and Canada)
  • Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
  • MEA (South Africa, GCC, Rest of MEA)
• Company Profiles of Top 10+ Major Market Players
  
  • Integrated DNA Technologies
  • Illumina
  • F.Hoffmann-La Roche
  • Bio-Rad Laboratories
  • Thermo Fisher Scientific
  • Agilent Technologies
  • Qiagen
  • PerkinElmer
  • BGI Genomics
  • Helix OpCo
  • Danaher
  • DNASTAR
  • Genomatix
  • Eurofins Scientific
  • Macrogen

Key Attributes:

Report Segmentation:

Next Generation Sequencing Sample Preparation Market Analysis & Forecast by Product Class

• Workstations
• Reagent & Consumables

Next Generation Sequencing Sample Preparation Market Analysis & Forecast by Applications

• Drug Discovery
• Diagnostics
• Others

Next Generation Sequencing Sample Preparation Market Analysis & Forecast by End-user

• Pharmaceutical and Biotechnology Companies
• Hospitals and Clinics
• Others

For more information about this report visit https://www.researchandmarkets.com/r/52kf06

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