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NGS Library Preparation Market Worth $3.15 Billion by 2029 - Exclusive Report by Meticulous Research®

(PharmaNewsWire.Com, August 05, 2022 ) According to a new market research report titled, ‘NGS Library Preparation Market by Product (Kits, Reagents, Instruments), Sequencing Type (Genome, Exome, Targeted), Application (Diagnostics, Discovery), End User (Hospitals, Diagnostic Laboratories, Pharmaceutical, Academic) - Global Forecast to 2029,' published by Meticulous Research®, the NGS library preparation market is expected to reach $3.15 billion by 2029 at a CAGR of 14.8% from 2022 to 2029.

Next-generation sequencing (NGS) library preparation is a crucial process in NGS workflow. It is the process of preparing the nucleic acid target into a form compatible with the sequencing system. The DNA and RNA samples need to be isolated, fragmented, end-repaired, and covalently linked to adapters using ligation or tagmentation methods before the sequencing. Furthermore, various reagents, kits, and instruments are available in the market for NGS library preparation.

The factors driving the NGS library preparation market are the declining sequencing costs, the rising prevalence of genetic disorders, the increasing utilization of NGS in diagnostics, and the increasing R&D investments and healthcare expenditure. Furthermore, the rising applications of next-generation sequencing and the increasing collaborations between companies to develop library preparation protocols are expected to provide significant opportunities for the growth of this market.

However, budget constraints in developing countries are expected to restrain the growth of this market to a notable extent. In addition, factors such as the limited expertise and sequencing capabilities of mid and small-sized laboratories and the regulatory & standardization concerns in diagnostic testing are the major challenges to the growth of this market.

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The Impact of COVID-19 on the NGS Library Preparation Market

In March 2020, the World Health Organization (WHO) declared the novel COVID-19 outbreak a global pandemic. Since then, various mutations have led to the emergence of new COVID-19 variants. The next-generation sequencing technology has greatly helped in the battle against COVID-19 by identifying and keeping track of the SARS‐CoV‐2 virus mutations. The rapid spread of various COVID-19 variants such as the Alpha (B.1.1.7), Beta (B.1.351), Gamma (P1, Brazil), Delta (B.1.617.2), and Omicron (B.1.1.529) strains has highlighted the importance of next-generation sequencing to detect mutations quickly and prevent the spread of new strains. The threat of new COVID-19 variants persists, and scientists are striving to identify different emerging variants. Next-generation sequencing (NGS) plays a vital role in tracking the development and spread of new variants of the SARS‐CoV‐2 virus as it provides precision at the nucleotide level.

Companies started receiving regulatory approvals for the COVID-19 diagnostic tests. In June 2020, Illumina, Inc. (U.S.) received the U.S. FDA emergency use authorization (EUA) for the Illumina COVIDSeq test, an NGS-based diagnostic test for the detection of COVID-19. In addition, various companies have been actively collaborating to support the demand for accurate and widespread testing. For instance, in August 2020, Beckman Coulter, Inc. (U.S.) collaborated with Fry Laboratories, LLC (U.S.) and BioID Genomics, Inc. (U.S.) to develop a rapid NGS diagnostics technology for the detection of COVID-19. Through this collaboration, Beckman Coulter shared its expertise in automation and integrated it with Fry Laboratories’ NGS library preparation technologies.

Hence, the outbreak of the COVID-19 pandemic accelerated the demand for NGS in various diagnostics and research applications, subsequently driving the growth of the NGS library preparation market.

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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 recurring demand for reagents & kits for NGS library preparation, new library preparation kit launches, and increased adoption of NGS in clinical 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 adoption of NGS for cancer diagnostics, the growing need for early disease diagnosis, and the high prevalence of cancer and other rare genetic disorders.

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 advantages offered by targeted sequencing in terms of cost, time, and data analysis for specific areas of interest over other sequencing methods and the high utilization of targeted sequencing in clinical diagnostics.

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 growing demand for improved diagnostic and treatment decisions using genetic testing, the high rate of hospitalizations due to the rising prevalence of chronic diseases, and the rising number of biomarker-based therapies.

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Based on geography, 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 America’s major market share is attributed to the high adoption of NGS-based diagnostic testing, the high investments in R&D, and the increasing government support and investments to enhance the genome sequencing infrastructure in the region. However, Asia-Pacific is slated to register the fastest growth rate in the NGS library preparation market during the forecast period. The high market growth in Asia-Pacific is driven by the healthcare infrastructure advancements in the region, the increasing government focus on sequencing projects, the increasing prevalence of various chronic & infectious diseases, a large number of patients with gene-associated disorders, and the rising research activities for the development of personalized medicines.

The report includes an extensive assessment of the market based on product, application, sequencing type, end user, and geography. The study also provides valuable insights into the key growth strategies adopted by major market players between 2019 and 2022. In recent years, the NGS library preparation market has witnessed numerous product launches, agreements, collaborations, partnerships, and acquisitions.

The key players profiled in this market study 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.).

To gain more insights into the market with a detailed table of content and figures, click here:

Scope of the Report:

NGS Library Preparation Market, by Product
Reagents & Consumables
Library Preparation Kits
DNA Library Preparation Kits
RNA Library Preparation Kits
Other Reagents & Consumables
Instruments & Workstations
Note: Other reagents & consumables include various extraction kits, amplification kits, consumables, and laboratory reagents

NGS Library Preparation Market, by Application
Disease Diagnostics
Cancer Diagnostics
Reproductive Health Diagnostics
Infectious Disease Diagnostics
Other Disease Diagnostic Applications
Drug Discovery
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
Targeted Genome Sequencing
Whole Genome Sequencing
Whole Exome Sequencing
Other Sequencing Types
Note: Other Sequencing types include degradome sequencing, chromatin immunoprecipitation (ChIP) sequencing, and methylation sequencing

NGS Library Preparation Market, by End User
Hospitals & Diagnostic Laboratories
Pharmaceutical and Biotechnology Companies
Academic Institutes & Research Centres
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
North America
Rest of Europe (RoE)
Rest of Asia-Pacific (RoAPAC)
Latin America
Middle East & Africa

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Meticulous Research™


+91 744-7780008

Source: EmailWire.Com


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