According to a new Research on Global Markets report, the global NGS library preparation market is expected to be worth approximately USD 1.33 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 11.3% during 2018-2023. Decrease in the cost of next-generation sequencing (NGS) library preparation solutions has made the technology more affordable and widely accessible, and this is the primary growth driver for the global NGS library preparation market.

According to the report, the global NGS library preparation market is segmented based on product, application, and area. Based on products, the market is further segmented into consumables, instruments/workstations/platforms, and others (ancillary equipment). The consumables sub-segment held a market share of 51.9%, mainly due to the rising demand for consumable products like library preparation reagents and other kits. 

Check out the Research on Global Markets report featured in this article:

Global NGS Library Preparation Market (2018 – 2023)
February 2019 | 90-100 Pages | SKU: 201869

Based on application, the small RNA sequencing sub-segment is expected to expand at a CAGR of about 14.1%, driven by its increased use as an identifier of novel biomarkers and for the diagnosis and treatment of diseases related to the brain/nervous system, according to Research On Global Markets.

Based on area, the market is segmented into clinical diagnostics and research. The research segment currently holds the largest share of the market, owing to the unprecedented growth of various research projects in the fields of oncology, agrigenomics, immuno-oncology research, neurosciences, microbial genomics, and drug discovery  

Research On Global Markets tracks the performance of the global NGS library preparation market across the key geographies of North America, Europe, Asia Pacific, and Rest of the World.  North America led the NGS library preparation market with regards to innovation and occupied approximately 50% market share in 2017. Increased adoption of library preparation tools in the region for both research and diagnostics segments is deemed to be the primary growth driver. During the forecasted period, the NGS library preparation market in North America is projected to expand at a CAGR of 9.5%.

Key highlights of this report:

  • Global market overview - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), geography-wise market revenue (USD Bn), and key market observations
  • Qualitative analysis of the drivers and challenges affecting the global market
  • Major trends in the global NGS library preparation market
  • Analysis of the competitive landscape and profiles of the major players operating in the market
  • Market segmentation based on application (DNA sequencing, RNA sequencing, small RNA sequencing, amplicon sequencing, and methylation sequencing) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
  • Market segmentation based on product types (consumables, instruments/workstations/platforms, and others [ancillary equipment]) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
  • Market segmentation based on area (clinical, and research) - historical (2015-2017) and forecasted (2018-2023) market size (USD Bn), and key market observations
  • Market segmentation based on region (North America, Europe, Asia-Pacific, and The Rest of the World)

This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for NGS library preparation solutions across the world to determine the viability of the market, develop strategies based on the drivers, and to help brands identify competition and respond accordingly.

Name: Ankita Basu
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