PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224487
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224487
Next-generation Sequencing Library Preparation Market size was valued at USD 1,600.8 Million in 2022, expanding at a CAGR of 12.7% from 2023 to 2030.
Next-generation sequencing (NGS) library preparation is a critical step in the NGS methodology. It is the process of converting the nucleic acid target into a format suitable for the sequencing machine. Before sequencing, DNA and RNA samples must be extracted, fragmented, end-repaired, and covalently attached to adapters through ligation or segmentation techniques. Furthermore, several reagents, kits, and devices are available on the market for NGS library preparation.
Market Dynamics
The market for NGS library preparation is being driven by factors such as falling sequencing prices, rising genetic condition prevalence, expanding use of NGS in diagnostics, rising R&D spending, and rising healthcare expenses. Furthermore, this market is anticipated to experience considerable potential due to the expanding applications of next-generation sequencing and the growing company partnerships to create library preparation procedures. However, budget restrictions in underdeveloped nations are projected to limit this market's expansion significantly. Furthermore, constraints such as the limited experience and sequencing capabilities of mid and small-sized laboratories, as well as regulatory and standards concerns in diagnostic testing, provide significant barriers to the market's growth.
COVID-19 Impact Analysis:
The World Health Organization (WHO) proclaimed the unique COVID-19 outbreak a worldwide pandemic in March 2020. Various mutations have since resulted in the creation of novel COVID-19 variants. By discovering and tracking SARSCoV2 viral mutations, next-generation sequencing technology has considerably aided in the fight against COVID-19. The fast dissemination of COVID-19 variations including Alpha (B.1.1.7), Beta (B.1.351), Gamma (P1, Brazil), Delta (B.1.617.2), and Omicron (B.1.1.529) has underlined the necessity of next-generation sequencing in detecting mutations and preventing the transmission of new strains. The threat of additional COVID-19 variations remains, and scientists are working hard to find new variants. Because it enables accuracy at the nucleotide level, next-generation sequencing (NGS) is critical in tracking the genesis and spread of novel strains of the SARSCoV2 virus.
Segmental Analysis:
Based on the sequencing type, in 2022, targeted sequencing had the biggest market share. Targeted sequencing allows for the discovery of both common and unusual genetic variants that may be the cause of a medical condition. It is also utilized to discover genetic changes that contribute to therapeutic medication response and harmful effects in individuals. The rising global prevalence of illnesses and genetic abnormalities, particularly cancer, is fueling the segment's expansion.
Based on the product, the reagent and consumables are expected to dominate the market over the forecast period. The production of NGS libraries comprises the creation of DNA and RNA sequencing libraries, as well as amplification and quantification. Many parties are working together to build specialized libraries that will produce the best results from sequencing utilizing proper laboratory reagents. Singular Genomics Systems, Inc., for example, inked a partnership agreement with Watchmaker Genomics in January 2022 to assist researchers and clinicians in validating its Watchmaker-DNA library preparation kits for use with the G4 sequencing platform employing NGS and multi-omics technologies.
Regional Analysis:
North America is expected to dominate the market over the forecast period. The region's market development is mostly due to significant disease-based research investigations financed by university research institutions and pharmaceutical behemoths. Swift Biosciences, for example, signed a collaboration agreement with SPT Labtech in March 2021 to improve Swift Biosciences' library preparation kits on mosquito genomics and dragonfly discovery platforms, thereby expanding the portfolio of library preparation solutions for degraded DNA, low input RNA, and custom amplicon panels.
Recent Development:
In August 2022, with the World Health Organization declaring the monkeypox virus (MPXV) a Public Health Emergency of International Concern and over 47,000 cases reported to date in 99 countries, Integrated DNA Technologies (IDT) is assisting researchers conducting monkeypox surveillance with a new next generation sequencing (NGS) solution. The initiative, which is part of IDT's NGS Tech Access, aims to accelerate innovation by providing access to the most sophisticated research tools that are still in development.
Key features of the study:
This proposed research study on the Next-generation Sequencing Library Preparation market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Next-generation Sequencing Library Preparation market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Next-generation Sequencing Library Preparation market
The impact of COVID-19 on the Next-generation Sequencing Library Preparation market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Next-generation Sequencing Library Preparation market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Next-generation Sequencing Library Preparation market, we have also included a competitive landscape and key innovator analysis for the Next-generation Sequencing Library Preparation market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Next-generation Sequencing Library Preparation market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Next-generation Sequencing Library Preparation market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL NEXT-GENERATION SEQUENCING LIBRARY PREPARATION MARKET KEY PLAYERS
Illumina, Inc.
Integrated DNA Technologies
F. Hoffmann-La Roche AG, Inc.
Agilent Technologies, Inc.
Beckman Coulter Inc. (Danaher Corporation)
BD
Merck KGaA
New England Biolabs Inc.
PerkinElmer Inc.
QIAGEN N.V.
Pacific Biosciences of California, Inc.
Tecan Group Ltd.
Thermo Fisher Scientific Inc.
GLOBAL NEXT-GENERATION SEQUENCING LIBRARY PREPARATION MARKET, BY SEQUENCING TYPE
Targeted Genome Sequencing
Whole Genome Sequencing
Whole Exome Sequencing
Other Sequencing Types
GLOBAL NEXT-GENERATION SEQUENCING LIBRARY PREPARATION MARKET, BY PRODUCT
Reagents & Consumables
Instruments
GLOBAL NEXT-GENERATION SEQUENCING LIBRARY PREPARATION MARKET, BY APPLICATION
Drug & Biomarker Discovery
Disease Diagnostics
Others
GLOBAL NEXT-GENERATION SEQUENCING LIBRARY PREPARATION MARKET, BY END-USE
Hospitals and Clinics
Academic and Research Institutions
Pharmaceutical and Biotechnology Companies
Others
GLOBAL NEXT-GENERATION SEQUENCING LIBRARY PREPARATION MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA