Market Overview:
The sample preparation market includes instruments, consumables, and accessories used in sample preparation techniques like nucleic acid and protein extraction, fractionation, purification, quantification, normalization, and genome/transcriptome library construction. Sample preparation is crucial as quality and integrity of biological samples are essential for obtaining accurate and reproducible results from analytical techniques like PCR, next-generation sequencing, mass spectrometry, etc. Advances sample preparation techniques help in better sample handling, extraction of target molecules, and minimize processing time.
Market key trends:
One of the key trends in the sample preparation market is increasing adoption of automated sample preparation systems. Automated sample preparation reduces manual errors, enhances reproducibility, and improves throughput. It allows multi-step sample processing from sample introduction to results with little human intervention. Various players are focusing on developing integrated, high-throughput automated solutions for nucleic acid and protein sample preparation to support applications in genomics, proteomics and diagnostics. Growing demand for personalized medicine is also driving demand for high-throughput sample preparation for large-scale genomic and proteomic studies.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in sample preparation market is low due to presence of established players and high initial capital requirement for setting up a manufacturing facility.
Bargaining power of buyers: The bargaining power of buyers is moderate due to presence of many regional and global players offering variety of products in sample preparation market.
Bargaining power of suppliers: The bargaining power of suppliers is low due to presence of many suppliers for raw materials in the market.
Threat of new substitutes: The threat of new substitutes in the market is very low as sample preparation products cannot be substituted.
Competitive rivalry: The competitive rivalry among established players is high due to their global presence and continual new product launches.
The global Sample Preparation Market Growth is estimated to be valued at US$ 45.83 million in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global sample preparation market is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing demand for proteomics, metabolomics and next-generation sequencing for disease diagnostics and drug discovery.
Regional analysis
North America is expected to hold largest share in sample preparation market owing to presence of key players, developed healthcare infrastructure, growing biopharmaceutical industry and ongoing research activities in the region. Asia Pacific is anticipated to exhibit fastest CAGR during forecast period due to increasing population, rising medical tourism and developing R&D infrastructure.
Key players
Key players operating in the sample preparation market are F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Danaher Corporation, Qiagen N.V., PerkinElmer, Inc., Illumina, Inc. and Merck KGaA. These players are adopting strategies such as mergers, acquisitions, and new product launches to retain their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
