Consumable Sales Bringing in Majority of NGS Sample Preparation Market Revenue
In 2021, the NGS sample preparation market size was $1,598.8 million, and with a compound annual growth rate of 14.7%, it is expected to reach $5,501.2 million in the next eight years. The technological advancements in NGS platforms and rising frequency of genetic ailments causing an increase in the demand for DTC genetic testing are the significant drivers. Moreover, the surge in the cases of infectious diseases is positively impacting the market. NGS sample preparation can be defined as the preparation of nucleic acid samples for investigation via next-generation sequencing.
The most-significant revenue share, of 50%, in the NGS sample preparation market was held by consumables last year, and this product category is predicted to remain dominant in the future. The increasing demand for testing and other equipment and components have impacted the market for consumables rather positively. The advanced research on whole-genome sequencing, DNA, and RNA also plays a crucial role in this regard. Sample preparation involves the usage of various consumables, such as pipettes, reagents, and kits, which need to be purchased frequently.
In 2021, a significant share of the NGS sample preparation market revenue was captured by library preparation, under segmentation by workflow. Due to the surge in the incidence of oncologic conditions, advanced research is required. Library preparation sequencing kits have widened the potential for sample sequencing. Library preparation would have an even larger future potential as it is supported by technological advancements and has the capability to sequence nucleic acids.
The largest revenue contributor in the NGS sample preparation market is North America. The favorable government and private initiatives for encouraging the usage of NGS for diagnosis and prognosis have allowed the regional market to prosper. Further, the region is a major hub for life sciences companies, which leads to the easy availability of products for NGS sampling. Moreover, APAC is expected to witness the fastest growth in the near future, attributed to the advancements in the medical research field and increase in the awareness of such solutions.
Therefore, the rising prevalence of genetic disorders and increasing demand for advanced medical research and genome sequencing are resulting in a boom in the market.