- Press Release -

The global NGS sample preparation market is expected to surpass a valuation of US$ 4 billion by 2031, expanding at a whopping CAGR of approximately 16% across the 2021-2031 forecast period, according to a recent report published on the market by award-winning consulting firm Fact.MR. Next generation sequencing (NGS) has revolutionized genomic research, paving the way for highly effective diagnosis of numerous chronic and infectious diseases, a fact that is boding well for market growth.

Historically, the market accrued significant gains, surpassing US$ 750 million in value in 2019. In recent years, NGS has been widely deployed in clinical oncology to advance personalized cancer treatment. The technique has proven useful in identifying novel and rare cancer mutations, detecting familial cancer mutation carriers, and providing molecular rationale for appropriate targeted therapy.

Consequently, prominent manufacturers are introducing a slew of sample preparation products, with opportunities being ample across the Asian markets. For instance, in May 2021, BGI Group signed a MoU with Ethiopian Biotechnology Institute (EBiT) to conduct the HPV genotyping pilot project and complete 2,000 sample screenings from Ethiopia, to establish a new model of HPV screening, diagnosis, and treatment.

Key Takeaways from Market Study

• High demand for NGS sample preparation kits, reagents, and consumables
• By application, NGS sample preparation for drug & biomarker discovery poised to reach higher echelons
• Academic and research institutes to remain primary NGS sample preparation end users
• Presence of robust healthcare system to pivot NGS sample preparation product sales across the U.S.
• India to extensively deploy NGS sample preparation products to augment prenatal screening

“Prominent NGS sample preparation product manufacturers are testing uncharted waters by foraying into domains such as animal and plant health, to develop highly advanced diagnostic approaches and address multiple ailments, widening expansion prospects,”

Competitive Landscape

The global NGS sample preparation market appears fragmented in nature, characterized by the presence of numerous regional and global level market players. Major expansion strategies include introducing testing kits equipped with the latest technology, collaboration with existing manufacturers, and acquisition of other players.

• In April 2021, F. Hoffmann-La Roche’s subsidiary Geronimo Acquisition Corp. purchased shares of GenMark Diagnostics Inc. in a tender offering to further research in controlling antibiotic resistance and infectious diseases by broadening its in-class molecular diagnostics portfolio
• In March 2021, Agilent Technologies completed and launched the CE-IVD registered qRT-PCR in vitro diagnostic kit for the detection of SARS-CoV-2 RNA, validated with a variety of commercially available RNA extraction products

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the NGS sample preparation market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (instruments, and kits, reagents, and consumables), application (drug & biomarker discovery, diagnostics, precision medicine, and others [agriculture and animal research]), and end user (hospitals & diagnostic centers, biotechnology & pharmaceutical companies, academic & research institutions,and others [CROs, CMOs, etc.]) across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

Fact.MR’s Domain Knowledge in Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Shambhu Nath Jha

Fact.MR

Sr. Consultant – Healthcare

E-mail: shambhu@factmr.com