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Next-generation Sequencing Library Preparation Global Market Report 2022: Industry to Reach $3.78 Billion at a CAGR 13.16% - ResearchAndMarkets.com

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Press release content from Business Wire. The AP news staff was not involved in its creation.
December 28, 2022 GMT

DUBLIN--(BUSINESS WIRE)--Dec 28, 2022--

The “Next-generation Sequencing Library Preparation Market Size, Share & Trends Analysis Report By Sequencing Type (Targeted Genome Sequencing, Whole Genome Sequencing), By Product, By Application, By End-use, By Region, And Segment Forecasts, 2023 - 2030” report has been added to ResearchAndMarkets.com’s offering.

The global next-generation sequencing library preparation market size is expected to reach USD 3.78 billion by 2030. The market is expected to register a CAGR of 13.16% from 2023 to 2030, owing the to increasing prevalence of genetic diseases, decreasing costs of sequencing, and rising usage of NGS in disease diagnostics. Moreover, numerous market players offer a broad spectrum of solutions for NGS library preparation to suit the specific requirements of NGS-based analysis.

Advancements in sequencing technology boost the demand for disease panels. NGS libraries are prepared by using nucleotide amplification and sequencing of a specific gene that is causative of a disease condition. The disease diagnosis panels are precisely designed to analyze specific genetic characteristics of a disease condition. For instance, in February 2022, the OncoDNA introduced OncoDEEP kit for analysis of translocations, somatic variants, genomic signatures and predictive biomarkers to aid cancer therapy. The kit also effectively measures tumor mutational burden, microsatellite instability, and loss of heterozygosity.

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The COVID-19 pandemic had a significant impact on the adoption of sequencing technology for metagenomics and diagnostics. Furthermore, several key players launched their NGS-based diagnostic tests for COVID-19 and other viral infections. For instance, in April 2021, QIAGEN N.V. released its first-ever QIAseq SARS-CoV-2 diagnostic kit, to be used for the enrichment of the COVID-19 genome and library preparation solution to yield a sequence of the SARS-CoV-2 genome.

Moreover, the growing incidence of diseases and the demand for novel drug discovery, collectively foster the growth of the market. For instance, in September 2022, IDT launches an NGS library preparation solution, xGen monkeypox virus amplicon panel for the precise detection of monkeypox viral infection by genotyping using viral DNA by construction of an NGS library.

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Whole-Exome Sequencing is essentially used for the detection of rare genetic disorders by detecting expressive biomarkers that feature mutations, that are causative of various disease conditions. Further, the Whole-Genome Sequencing (WGS) is used for the detection of novel genetic mutations in rare diseases. For instance, in January 2022, researchers at the University of Stanford secured a first-ever Guinness record for a sequencing technique by sequencing a whole human genome in the least turnaround time with a record diagnostic rate for rare disease diagnosis.

Next-generation Sequencing Library Preparation Market Report Highlights

  • By sequencing type, targeted genome sequencing is expected to occupy the larger share in NGS library preparation market due to demand for disease specific analysis of the genome sequence that can cause the disease condition.
  • Based on product, the reagents & consumables segment is expected to occupy the bigger share of market space due to the utilitarian benefits that an NGS library preparation kit could offer researchers and clinicians. Ready-to-use NGS library preparation kits require less expertise and bare minimal laboratory infrastructure.
  • By application, the drug & biomarker discovery segment dominated the market due to the rise in demand for the discovery of novel drugs and biomarkers for a broad spectrum of disease conditions.
  • By end use, Hospital & Clinics segment is expected to grow rapidly over the forecast period owing to the rise in the incidence of cancer, genetic disorders, and other diseases across the globe. The rise in genetic level understanding also positively impacts the growth of this segment.
  • North America dominated the global NGS library preparation market in 2022, owing to the rising prevalence of diseases, increasing demand for early diagnosis, the need for genome sequencing, and the presence of key market players.

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Key Topics Covered:

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Table Of Contents

Chapter 1 Methodology And Scope

Chapter 2 Executive Summary

Chapter 3 Market Variables, Trends & Scope

Chapter 4 Sequencing Type Business Analysis

Chapter 5 Products Business Analysis

Chapter 6 Application Business Analysis

Chapter 7 End-Use Business Analysis

Chapter 8 Regional Business Analysis

Chapter 9 Company Profiles

Companies Mentioned

  • Agilent Technologies Inc.
  • Integrated Dna Technologies
  • F. Hoffmann-La Roche Ag, Inc.
  • Illumina Inc.
  • Beckman Coulter Inc. (Danaher Corporation)
  • Becton
  • Merck Kgaa.
  • Dickinson and Company
  • New England Biolabs Inc.
  • Perkinelmer Inc.
  • Qiagen N.V.
  • Pacific Biosciences of California, Inc.
  • Thermo Fisher Scientific Inc.
  • Tecan Group Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/x5tent

View source version on businesswire.com:https://www.businesswire.com/news/home/20221228005265/en/

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KEYWORD:

INDUSTRY KEYWORD: HEALTH GENETICS

SOURCE: Research and Markets

Copyright Business Wire 2022.

PUB: 12/28/2022 09:36 AM/DISC: 12/28/2022 09:35 AM

http://www.businesswire.com/news/home/20221228005265/en