NGS Library Preparation Market Industry Growth, Share, Size, Demand and Future Scope 2030

In a recent published report, Kenneth Research has updated the Market report for NGS Library Preparation Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for NGS Library Preparation Market Products.

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NGS library construction involves preparing nucleic acid targets using a coordinated series of enzymatic reactions to produce a random collection of DNA fragments, of a specific size, for high throughput sequencing. The decreasing cost of next-generation sequencing (NGS) library preparation solutions is making the technology more affordable and widely accessible. This is the key growth driver for the global NGS library preparation market, which is expected to reach approximately USD 1.33 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 11.3% during 2018-2023.

According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

Application segment insights:
Based on application, the small RNA sequencing market is anticipated to grow at a high CAGR of about 14.1% than that of the others. This is primarily because of its increased use as an identifier of novel biomarkers. Also, miRNAs are involved in many important physiological processes, such as the development and maturation of the nervous system. Thus, the growing use of small RNA sequencing in the diagnosis and treatment of diseases related to the brain/nervous system also pose as a noteworthy driver for the growth of the market.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Products segment insights:
The products of the NGS library preparation market in this report can be classified into consumables, instruments/workstations/platforms, and others (ancillary equipment). The consumables sub-segment dominates with a market share of 51.9%. This is mainly because of the rising demand for consumable products like library preparation reagents and other kits with growth prospects in research projects. The challenge faced by the market is that most of the library preparation kits are designed to work with a particular brand of instrument. This, in turn, increases the bargaining power of supplier and restraints the wide adoption of these kits in mid and small-sized labs. The sub-segment is predicted to expand at a CAGR of 10.0% during the forecast period.

Area segment insights:
Based on area, the NGS library preparation market is divided into the following segments—clinical diagnostics and research. The research segment holds the lion’s share of this market. This is due to the growth of various research projects like oncology, agrigenomics, immuno-oncology research, neurosciences, microbial genomics, and drug discovery. The increasing adoption of NGS tools by contract research organizations (CROs) and research wings of pharmaceutical, as well as biotechnological companies all over the world is further adding to the growth of this particular segment.

Regional insights:
North America is leading the innovation in the NGS library preparation market and occupied approximately 50% of the global market in 2017. This is because of the high adoption rate of library preparation tools in the region among both research and diagnostics segments. The North American NGS library preparation market is predicted to expand at a CAGR of 9.5% in the forecast period. The Asia-Pacific region is growing at a high growth rate of about 14.0%. This is because Asia is emerging as a powerhouse of pharmaceutical research and development (R&D) facilitated by the availability of a vast patient population, quality data, lower costs and skilled manpower. This is driving the adoption of NGS library tools in the region.

Companies covered:
Illumina, Inc.
Roche Holding AG
Thermo Fisher Scientific, Inc
PerkinElmer, Inc.
Qiagen NV
Bio-Rad Laboratories, Inc.
Abcam
Meridian Biosciences Inc.
Epigentek Group Inc.
New England Biolabs Inc.

Customizations available:
With the given market data, Research on Global Markets offers customizations according to specific needs. Write to us at sales@kennethresearch.com, or connect with us here.

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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