WASHINGTON, March 01, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global NGS Sample Preparation Market finds that increase in demand for personalized treatment is expediting market growth. The market growth is attributed to, improving reimbursement scenario for NGS-based diagnostic tests, as well as surge in expenditure for healthcare. The total Global NGS Sample Preparation Market is estimated to reach USD 4.32 Billion by 2028.
The Market stood at a revenue of USD 1.54 Billion in the year 2021, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.1%.
Furthermore, advancements in NGS platforms along with reduced cost of sequencing, is projected to augment growth of the Global NGS Sample Preparation Market, states Vantage Market Research, in a report, titled “NGS Sample Preparation Market by Product Class (Reagent and Consumables, Workstations), by Applications (Diagnostics, Drug Discovery, Other Applications), by End User (Hospitals and Clinics, Pharmaceutical & Biotechnology Companies, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the NGS Sample Preparation Market:
- Illumina Inc. (US)
- Agilent Technologies Inc. (US)
- Thermo Fisher Scientific Inc. (US)
- PerkinElmer Inc. (US)
- F.Hoffmann-La Roche AG (Switzerland)
Market Dynamics:
Drivers:
Rising Incidence of Cancer across the Globe
As per the WHO, cancer is the foremost cause of mortality globally, which accounted for nearly 9.6 million deaths in 2018. Thus, with increasing cancer burden coupled with numerous risk factors including obesity, unhealthy lifestyle, hormone replacement therapy, among others, the demand for cancer diagnostics is expected to rise significantly in the years ahead, translating to market growth.
Clinical cancer research is going through an exciting change at the moment. Historically, cancer research & treatment has been comprised of surgery, chemotherapy, and radiotherapy, but lately, novel treatments have emerged as promising tools where drug discovery and technological advancements are playing an important role in understanding cell classification and cell heterogeneity. Immuno-oncological strategies are being developed that leverage the patients' own immune systems to kill cancer cells that possess immense potential. Consequently, increasing the demand for drug discovery, further propelling the NGS Sample Preparation Market growth.
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Increasing Incidences of Neurological Diseases Worldwide
Increasing incidences of neurological disease and growing focus on early diagnosis and treatment are expected to fuel the NGS Sample Preparation Market growth over the forecast period. According to estimates published in 2018 by the WHO, over 300 million people across the globe suffer from clinical depression. Also, as per the data published by the UN report, about 1 billion people suffer from neurological disorders, Alzheimer's and Parkinson's disease, strokes, multiple sclerosis, epilepsy, migraine, brain injuries, and neuro infections, with nearly 6.8 million dying of the illnesses every year. Thus, increasing the demand for NGS sample preparation, driving the market growth.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic, thus led to loss of revenue. Owing to COVID-19 outbreak large number of population was hospitalized and under treatment. This scenario have boosted the demand for glucose monstering devices. Manufacturers have suffered significant dent on growth owing to shut down. However, things will improve in the second half of 2022 as more supplies will come online with increased production to meet the untapped demand. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on NGS Sample Preparation Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global NGS Sample Preparation Market
North America has dominated the Global NGS Sample Preparation Market in 2021 and is likely to continue the same trend during the forecast period. The market growth in the region is attributed to factors such as, favourable initiatives by government and private bodies for the development and adoption of NGS technologies. Additionally, increasing adoption of NGS diagnostics in the region as well as presence of leading NGS service providers is further fuelling the market growth over the forecast period.
Asia Pacific is likely to witness fastest growth in the NGS Sample Preparation Market during the forecast period. The market growth in the region is attributed to factors such as, presence of emerging economies, and surge in expenditure for healthcare.
Browse market data Tables and Figures spread through 163 Pages and in-depth TOC on "NGS Sample Preparation Market by Product Class (Reagent and Consumables, Workstations), by Applications (Diagnostics, Drug Discovery, Other Applications), by End User (Hospitals and Clinics, Pharmaceutical & Biotechnology Companies, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/ngs-sample-preparation-market-705565
Recent Developments:
April 2020: Illumina made software toolkit available free of charge to support worldwide pandemic of COVID-19.
February 2019: Agilent Technologies launched NGS library preparation systems which were designed to carry out complex DNA sequencing assays.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the NGS Sample Preparation Market?
- How will the NGS Sample Preparation Market change in the upcoming six years?
- Which application and product will take a lion’s share of the NGS Sample Preparation Market?
- What is the NGS Sample Preparation market drivers and restrictions?
- What will be the CAGR and size of the NGS Sample Preparation Market throughout the forecast period?
This market titled “NGS Sample Preparation Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 1.54 Billion |
| Projected Market Size in 2028 | USD 4.32 Billion |
| CAGR Growth Rate | CAGR of 15.1% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Product Class • Reagent and Consumables • Workstations Applications • Diagnostics • Drug Discovery • Other Applications End User • Hospitals and Clinics • Pharmaceutical & Biotechnology Companies • Other End Users |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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