Meticulous ResearchÂ®â€”leading global market research company published a research report titled, â€˜NGS Library Preparation Market By Product (Kits, Reagents, Instruments), Sequencing Type (Genome, Exome, Targeted), Application (Diagnostics, Discovery), End User (Hospitals, Diagnostic Laboratories, Pharmaceutical, Academic) â€” Global Forecast to 2029.â€™
According to this latest publication from Meticulous ResearchÂ®, the NGS library preparation market is expected to reach $3.15 billion by 2029 at a CAGR of 14.8% from 2022 to 2029. The growth of this market is driven by the declining costs of sequencing, the rising prevalence of genetic disorders, the increasing utilization of NGS in diagnostics, and the increasing R&D investments and healthcare expenditure.
In addition, the increasing applications of next-generation sequencing and the rising number of collaborations between companies to develop library preparation protocols are expected to provide significant growth opportunities for this market.
However, the budget constraints in developing countries are expected to restrain the growth of this market to a notable extent. In addition, factors such as regulatory & standardization concerns in diagnostic testing and the limited expertise and sequencing capabilities of mid and small-sized laboratories are the major challenges to the growth of this market.
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Scope of the Report:
NGS Library Preparation Market, by Product
â€¢ Reagents & Consumables
o Library Preparation Kits
o DNA Library Preparation Kits
o RNA Library Preparation Kits
o Other Reagents & Consumables
â€¢ Instruments & Workstations
(Note: Other reagents & consumables include various extraction kits, amplification kits, consumables, and laboratory reagents)
NGS Library Preparation Market, by Application
â€¢ Disease Diagnostics
o Cancer Diagnostics
o Reproductive Health Diagnostics
o Infectious Disease Diagnostics
o Other Disease Diagnostic Applications
â€¢ Drug Discovery
â€¢ Other Applications
(Note: Other disease diagnostic applications include applications in cardiovascular diseases, detection of genetic aberrations in neurological disorders, rare diseases, metabolic and immune disorders, and foodborne illnesses.)
(Note: Other applications include basic research (genomics, molecular biology, and other life sciences), agriculture & animal research, and forensics & food microbiology.)
NGS Library Preparation Market, by Sequencing Type
â€¢ Targeted Genome Sequencing
â€¢ Whole Genome Sequencing
â€¢ Whole Exome Sequencing
â€¢ Other Sequencing Types
(Note: Other Sequencing types include degradome sequencing, chromatin immunoprecipitation (ChIP) sequencing, and methylation sequencing)
NGS Library Preparation Market, by End User
â€¢ Hospitals & Diagnostic Laboratories
â€¢ Pharmaceutical and Biotechnology Companies
â€¢ Academic Institutes & Research Centres
â€¢ Others End Users
(Note: Other end users include forensic laboratories & security agencies, the food industry, and the agriculture industry)
NGS Library Preparation Market, by Geography
â€¢ North America
o Rest of Europe (RoE)
o Rest of Asia-Pacific (RoAPAC)
â€¢ Latin America
â€¢ Middle East & Africa
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NGS Library Preparation Market: Future Outlook
The NGS library preparation market is segmented based on product, application, sequencing type, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on product, in 2022, the reagents & consumables segment is estimated to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to factors such as the increasing demand for library preparation kits and reagents, the high number of research activities, and numerous applications of NGS in different fields such as drug and biomarker discovery and diagnostics.
Based on application, in 2022, the disease diagnostics segment is estimated to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the high prevalence of cancer globally, favorable reimbursement scenarios for NGS-based tests, and advancements in NGS-based oncology and non-invasive prenatal tests (NIPT).
Based on sequencing type, in 2022, the targeted sequencing segment is estimated to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the benefits offered by targeted sequencing, such as low cost, fast turnaround time, and accurate and easy interpretation of targeted sequencing results in the study of disease-related genes.
Based on end user, in 2022, the hospitals & diagnostic laboratories segment is estimated to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the high volume of NGS-based diagnostic tests performed in hospitals & diagnostic laboratories, demand for advanced medical treatments, and the rising adoption of biomarker-based therapies.
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This research report analyzes the market across major regions and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America, and the Middle East & Africa.
In 2022, North America is estimated to account for the largest share of the NGS library preparation market, followed by Europe and Asia-Pacific.North Americaâ€™s major market is attributed to the factors such as governmentsâ€™ increased support and investments to enhance genome sequencing infrastructure in the region, the increasing R&D investments by pharmaceutical and biopharmaceutical companies, and the presence of key market players in the region.
The key players operating in the NGS library preparation market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (U.S.), Beckman Coulter Inc. (U.S.) (Subsidiary of Danaher Corporation), Becton, Dickinson and Company (U.S.), Pacific Biosciences of California, Inc. (U.S.), PerkinElmer Inc. (US), F. Hoffmann-La Roche AG (Switzerland), New England Biolabs, Inc. (U.S.), Tecan Group Ltd. (Switzerland), Merck KGaA (Germany), and Integrated DNA Technologies, Inc. (U.S.).
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Key questions answered in the report:
â€¢ Which are the high-growth market segments in terms of product, application, sequencing type, end user, and region/country?
â€¢ What was the historical market size for the NGS library preparation market across the globe?
â€¢ What are the market forecasts and estimates for the period 2022â€“2029?
â€¢ What are the major drivers, restraints, opportunities, and challenges in the global NGS library preparation market?
â€¢ Who are the major players in the NGS library preparation market?
â€¢ How is the competitive landscape, and who are the market leaders in the global NGS library preparation market?
â€¢ What are the recent developments in the global NGS library preparation market?
â€¢ What are the different strategies adopted by the major players in the global NGS library preparation market?
â€¢ What are the geographical trends and high-growth regions/countries?
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