New York, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The global DNA library preparation market size is predicted to expand at ~14% CAGR between 2024 and 2036. The market is projected to garner a revenue of USD 156 billion by the end of 2036, up from a revenue of ~USD 16 billion in the year 2023.DNA library preparation plays a significant role in reducing the number of genetic disorders. According to a report published by the World Health Organization (WHO), there are approximately 5,000 to 8,000 rare diseases worldwide, most of which include genetic disorders that affect 400 million citizens. Due to changes in the focus of COVID-19 vaccine development, the transmission of the Coronavirus has led to delays in research and development activities of biopharmaceutical companies in the market preparing letters DNA Institute. In some countries, COVID-19 has led to lockdowns, delaying production in the DNA library preparation kits market.
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Additionally, the growth of the DNA library preparation market can also be driven by the increasing incidence of genetic diseases all across the globe. Advances in genetic engineering technology will lead to increased demand for the DNA library preparation industry. In the field of drug discovery and clinical diagnostics, the growing demand for genomics will strengthen the market in the assessment period. Furthermore, rising healthcare expenditure and advancement in healthcare infrastructure all across the globe is estimated to positively influence the market expansion in the review period.
Increasing Complex Necessity from Researcher for Life Sciences Industry across the Globe to Boost Market Growth
The growing and complex needs of life science researchers are the main factor behind the increase in demand for DNA library preparation kits. Furthermore, the growing demand for customized analyzes will drive the growth of the DNA library preparation kits market. Manufacturers of DNA library preparation kits are mainly focused on producing more innovative products. To increase sales of DNA library preparation kits, manufacturers also emphasize collaboration and cooperation with leading research institutions. This further is driving the expansion of the market in the forecast period. Advancements in genomic research stand out as the primary driver fueling the growth of the DNA library preparation market. Genomic research, encompassing various fields such as medical genetics, agriculture, and evolutionary biology, is experiencing a paradigm shift due to breakthroughs in sequencing technologies. The continual exploration of the human genome and diverse organisms necessitates sophisticated tools for DNA library preparation to generate high-quality sequencing data. According to a report, the global DNA sequencing sales, closely tied to genomic research, is projected to reach USD 11.2 billion by 2024. As researchers delve deeper into understanding the genetic basis of diseases, DNA library preparation becomes integral for preparing samples that can unveil critical genetic information.
DNA Library Preparation Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Leading Role in Genomic Research to Drive the Market Growth in North America Region
The DNA library preparation market in North America region is estimated to garner the largest revenue by the end of 2036. The growth of this market can be attributed to the increasing presence of market players in the region along with growing investment in the drug development industry. The region's market expansion is mostly linked to in-depth disease-based research investigations that have been funded by pharmaceutical oligopolies and academic research centers. For instance, in March 2021, Swift Biosciences and SPT Labtech agreed to work together to improve the company's library preparation kits for use with the mosquito genomics and dragonfly discovery platforms. This will enable Swift Biosciences to offer more library preparation options for degraded DNA, low input RNA, and customized amplicon panels. The region's dominance in genomics research is a primary growth driver for the DNA library preparation market. As North American researchers pioneer large-scale genomics projects, conduct comprehensive genome-wide association studies (GWAS), and explore precision medicine initiatives, the demand for advanced DNA library preparation technologies escalates. According to the National Human Genome Research Institute (NHGRI), the United States alone invested over USD 3 billion in the Human Genome Project.
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Focus on Agriculture and Biodiversity Studies to Propel the Growth in the Asia Pacific Region
The Asia Pacific DNA library preparation market is estimated to garner the highest CAGR by the end of 2036. The emphasis on genomics in agriculture and biodiversity studies fuels the demand for DNA library preparation technologies. Researchers in Asia Pacific are leveraging genomics to enhance crop breeding, preserve biodiversity, and study environmental ecosystems, necessitating efficient library preparation methods. Clinical genomics applications, including diagnostics and treatment decision-making, drive the adoption of DNA library preparation methods in Asia Pacific. As genomic information becomes integral to healthcare practices, efficient library preparation is essential for accurate and reliable results. The establishment of biobanks and population genomics projects in Asia Pacific generates a substantial demand for DNA library preparation technologies. These projects aim to unravel genetic variations within diverse populations, requiring robust library preparation methods for accurate genomic analysis. Biobanking initiatives in countries like South Korea are on the rise, with the Korea Biobank Network aiming to collect samples from 200,000 participants by 2026.
DNA Library Preparation, Segmentation by Application
- Diagnostics
- Drug Discovery
- Forensic testing
- Animal Research
Amongst these segments, the diagnostic segment is anticipated to hold the largest share over the forecast period. The growth of this market can be primarily attributed to the escalating manufacturing of new drugs along with increasing and expanding drug discovery. Besides this, growing cases of cancer globally and the increasing focus of key market players towards innovating new medications to deal with the deadly disease of cancer a better way is also significant factor driving the growth of this market in the upcoming future. Cancer is a significant reason behind death nowadays, leading to around 10 million deaths in the year 2020, reported as by the World Health Organization. To accurately identify the cause or effect of a disease condition, NGS reliably sequences every gene related to a particular phenotype. Additionally, NGS performs concurrent analysis of several genes, which may save time, money, and tissue if numerous potential disease markers need to be examined.
DNA Library Preparation, Segmentation by End-User
- Biopharmaceutical Companies
- Academic & Research Institutes
- Contract Research Organizations
- Clinical Laboratories
Amongst these segments, the academic & research institutes segment is anticipated to hold a significant share over the forecast period. Government support is a cornerstone for academic and research institutes. Increased funding empowers institutions to conduct groundbreaking research, invest in cutting-edge technologies, and foster an environment conducive to scientific exploration and innovation. Government funding for research and development (R&D) continues to rise globally. According to the National Science Foundation (NSF), total U.S. R&D spending reached USD 549 billion in 2019, with the federal government contributing significantly. Interdisciplinary research, spanning multiple scientific disciplines, is gaining prominence. Academic and research institutes are breaking down traditional silos, fostering collaborations that address complex challenges and drive innovation at the intersection of diverse fields. The integration of advanced technologies, such as AI and robotics, is transforming research methodologies. Academic institutes leveraging these technologies enhance the efficiency and precision of experiments, data analysis, and simulation, driving the growth of the segment.
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Few of the well-known indsutry leaders in the DNA library preparation market that are profiled by Research Nester are Swift Biosciences Inc., Merck KGaA, New England Biolabs, Inc., Hamilton Company, Eppendorf AG, Beckman Coulter Inc., Promega Corporation, and other key market players.
Recent Development in the DNA Library Preparation Market
- Agilent Technologies unveiled a new framework for next-generation sequencing (NGS) library preparation in February 2019 with the aim of efficiently running challenging DNA sequencing assays. The completely automated Magnis NGS preparation system has reagents and protocols that enable quick analyses of several genetic and structural abnormalities, even in samples with deteriorated quality like formalin-fixed paraffin-embedded (FFPE). The company has increased product exposure and attracted more market attention thanks to the announcement.
- To develop a quick NGS-based diagnostics technique for the detection of COVID-19, Beckman Coulter Inc., Fry Laboratories LLC, and BioID Genomics Inc. entered into a collaboration agreement in August 2020.
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