The global NGS sample preparation market is expected to surpass a valuation of US$ 4 billion by 2031, expanding at a whopping CAGR of approximately 16% across the 2021-2031 forecast period, according to a recent report published on the market by award-winning consulting firm Fact.MR. Next generation sequencing (NGS) has revolutionized genomic research, paving the way for highly effective diagnosis of numerous chronic and infectious diseases, a fact that is boding well for market growth.
Historically, the market accrued significant gains, surpassing US$ 750 million in value in 2019. In recent years, NGS has been widely deployed in clinical oncology to advance personalized cancer treatment. The technique has proven useful in identifying novel and rare cancer mutations, detecting familial cancer mutation carriers, and providing molecular rationale for appropriate targeted therapy.
Key Takeaways from Market Study
High demand for NGS sample preparation kits, reagents, and consumables
By application, NGS sample preparation for drug & biomarker discovery poised to reach higher echelons
The global NGS sample preparation market appears fragmented in nature, characterized by the presence of numerous regional and global level market players. Major expansion strategies include introducing testing kits equipped with the latest technology, collaboration with existing manufacturers, and acquisition of other players.
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