Market Dynamics:
Drivers:
– Advancements in NGS Platforms
– Declining Cost of Sequencing
– Improving Reimbursement Scenario for NGS-Based Diagnostic Tests
Restraints:
– End User Budget Constraints in Developing Countries
Opportunities:
-Initiatives and Funding From Government & Private Bodies for Large-Scale Sequencing Projects
– Increasing Applications of NGS
Challenges:
– Ethical Issues
The NGS sample preparation market is projected to grow from USD 1.1 billion in 2019 to USD 2.7 billion by 2024, at a CAGR of 18.7% during the forecast period.
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Some of the prominent players in the NGS sample preparation market include Illumina Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Germany), Agilent Technologies, Inc. (US), Beckman Coulter (a subsidiary of Danaher), Becton, Dickinson and Company (BD) (US), Pacific Biosciences of California (US), PerkinElmer Inc. (US), F. Hoffmann-La Roche (Switzerland), and New England Biolabs, Inc. (US), among others.
Analysis of the developments in the NGS sample preparation market from 2016 to 2018 shows that product launches; agreements, partnerships and collaborations; expansions; and acquisitions were the most widely adopted growth strategies by players in the market. Players adopted these strategies to strengthen their market positions.
Illumina dominates the NGS market with its technologically advanced platforms and associated NGS products. The company’s product portfolio includes a wide range of highly interconnected products including sequencing, genotyping, gene expression, and molecular diagnostic products. The company also offers NGS services, which further strengthens its position in the market.
Over the past three years, Illumina launched several products to sustain its leadership position in the overall NGS market, including sample preparation. To sustain continuous product development, the company invests a significant amount of its revenue on R&D expenditure. In 2018, Illumina invested 18.7% of its revenue on R&D. With its strong product portfolio, product innovation, and wide geographic presence, the company is expected to grow at a high rate in the NGS sample preparation market during the forecast period.
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Thermo Fisher Scientific offers an extensive range of products, including analytical instruments, equipment, reagents & consumables, software & services for research, analysis, discovery, and diagnostics. In addition to a robust product portfolio of NGS sample preparation, the company has a substantial geographic presence. The company launched a number of products in the past three years, including the Oncomine Childhood Cancer Research Assay and the Oncomine Immune Response Research Assay.
With its strong product portfolio, continuous research and development, and wide geographic reach, the company is expected to grow in the NGS sample preparation market.
Related Reports:
NGS Sample Preparation Market by Product (Reagent, Workstations), Workflow (Library Preparation [DNA, RNA], Target Enrichment), Application (Infectious Disease, Cancer Diagnostics), Technology (SMRT, Nanopore) – Forecast to 2024
