NGS Library Preparation Global Market Report 2023: Increasing Applications of Next-generation Sequencing Technology Present Opportunities

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Feb 14, 2023, 20:10 ET

DUBLIN, Feb. 14, 2023 /PRNewswire/ -- The "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 2030" report has been added to ResearchAndMarkets.com's offering.

The global NGS library preparation market is projected to reach $3.62 billion by 2030, at a CAGR of 14.8% from 2023 to 2030.

Following a comprehensive primary and secondary study and an in-depth analysis of the market scenario, this report provides the key drivers, constraints, challenges, and opportunities of the industry. This market is driven by the declining costs of sequencing, the increasing prevalence of cancer and genetic disorders, the growing utilization of NGS in disease diagnostics and precision medicine, and rising R&D investments and healthcare expenditures.

Furthermore, increasing applications of next-generation sequencing technology and collaborations between vendors to develop automated library preparation protocols provide a significant growth opportunity for this market. However, the availability of alternative technologies and the low chances of identifying positive actionable mutations for precision medicine may restrain the growth of this market. Additionally, the regulatory and standardization concerns in diagnostic testing and the limited expertise and sequencing capabilities of small & mid-sized laboratories pose a major challenge for the players operating in this market.

Based on product, in 2023, the reagents & consumables segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increased demand for reagents & consumables for NGS library preparation due to the high penetration of NGS technologies in disease diagnostics and genomic research.

Based on application, in 2023, the disease diagnostics segment is expected to account for the largest share of the NGS library preparation market. The increased utilization of NGS technologies, especially in precision medicine and companion diagnostics, and growing adoption in infectious disease diagnostics is expected to boost the growth of this segment.

Based on sequencing type, in 2023, the targeted sequencing segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increased adoption of this sequencing type due to its advantages, such as cost-effectiveness and rapid sequencing for identifying specific gene-associated diseases.

Based on end user, in 2023, the hospitals & diagnostic laboratories segment is expected to account for the largest share of the NGS library preparation market. The large market share of this segment is attributed to the increased hospitalization rates, especially in developing economies, increased penetration of NGS technologies in hospitals & diagnostic laboratories, and the high prevalence of various infectious & chronic diseases requiring complex genomic sequencing.

An in-depth analysis of the geographical scenario of the global NGS library preparation market provides detailed qualitative and quantitative insights for the five major geographies (North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America) along with the coverage of major countries in each region.

In 2023, North America is expected to account for the largest share of the global NGS library preparation market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to be the fastest-growing region of the global NGS library preparation market.

Market Dynamics

Drivers

Declining Costs of Sequencing
Increasing Prevalence of Cancer and Genetic Disorders
Growing Utilization of NGS in Disease Diagnostics and Precision Medicine
Rising R&D Investments and Healthcare Expenditures

Restraints

Availability of Alternative Technologies
Low Chances of Identifying Positive Actionable Mutations for Precision Medicine

Opportunities

Increasing Applications of Next-generation Sequencing Technology
Collaborations Between Vendors to Develop Automated Library Preparation Protocols

Challenges

Regulatory and Standardization Concerns in Diagnostic Testing
Limited Expertise and Sequencing Capabilities of Small & Mid-sized Laboratories

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

NGS Library Preparation Market, by Application

Disease Diagnostics
Cancer Diagnostics
Reproductive Health Diagnostics
Infectious Disease Diagnostics
Other Disease Diagnostic Applications
Drug Discovery
Other Applications

NGS Library Preparation Market, by Sequencing Type

Targeted Genome Sequencing
Whole Genome Sequencing
Whole Exome Sequencing
Other Sequencing Types

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
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific (RoAPAC)
Latin America
Middle East & Africa

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Market Insights

5 Global NGS Library Preparation Market, by Product

6 Global NGS Library Preparation Market, by Sequencing Type

7 Global NGS Library Preparation Market, by Application

8 Global NGS Library Preparation Market, by End User

9 NGS Library Preparation Market, by Geography

10 Competitive Landscape

11 Company Profiles

12 Appendix

Companies Mentioned

Illumina Inc.
Thermo Fisher Scientific Inc.
QIAGEN N.V.
Agilent Technologies Inc.
Danaher Corporation
Pacific Biosciences of California Inc.
PerkinElmer Inc.
F. Hoffmann-La Roche AG
New England Biolabs Inc.
Tecan Group Ltd.
Merck KGaADiagenode S.A.

For more information about this report visit https://www.researchandmarkets.com/r/4gyprb-library?w=5

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