Ngs Library Preparation Market Size, Share, Industry Trends and Forecast to 2030

Ngs Library Preparation Market Size & CAGR in 2021

The global Ngs library preparation market is estimated to reach a value of USD 1.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 7% from 2021 to 2028. The market is expected to witness significant growth due to the increasing adoption of Next-Generation Sequencing (NGS) technologies in various research applications.

COVID-19 Impact on Ngs Library Preparation Market

The COVID-19 pandemic has had a mixed impact on the NGS library preparation market. While the disruptions in supply chain and research activities initially affected the market growth, the increased focus on genomic research and sequencing to understand the virus and develop vaccines has led to a surge in demand for NGS library preparation kits and services.

Ngs Library Preparation Dynamics

The NGS library preparation market is driven by the rising demand for personalized medicine, advancements in sequencing technologies, and increasing investments in genomic research. Key players in the market are focusing on developing innovative library preparation kits that offer higher accuracy, sensitivity, and speed.

Segments and Related Analysis

The NGS library preparation market can be segmented based on product type, application, end-user, and region. Product types include library preparation kits, reagents, and instruments. Applications range from oncology and infectious disease to agriculture and forensic science. End-users include research institutes, biotech companies, and hospitals.

By Region Analysis

The NGS library preparation market is divided into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America leads the market due to the presence of key players, advanced healthcare infrastructure, and high research funding. However, Asia Pacific is expected to witness rapid growth owing to the increasing adoption of NGS technologies in emerging economies.

Key Market Players and Competitive Landscape

Some of the key players in the NGS library preparation market include Illumina Inc., Thermo Fisher Scientific Inc., Qiagen, Agilent Technologies, and PerkinElmer. These companies are constantly innovating and launching new products to stay competitive in the market. Partnerships, collaborations, and acquisitions are also common strategies adopted by players to expand their market presence.

Recent Happenings in Ngs Library Preparation Market

In recent years, there have been several notable developments in the NGS library preparation market. For example, Illumina introduced the Nextera DNA Flex library prep kit for whole-genome sequencing, offering improved performance and flexibility. Thermo Fisher Scientific launched the Ion AmpliSeq HD library preparation kit for targeted sequencing applications, providing high-quality results with reduced turnaround times. These innovations reflect the dynamic nature of the NGS library preparation market and the continuous efforts of key players to meet the evolving demands of researchers and clinicians.