NGS Library Preparation Market Size, Share, Growth Analysis, By Product type(Reagents & Consumables, Instruments & Workstations), By Application(Disease Diagnostics, Drug Discovery, Other Applications.), By sequencing type(Targeted Genome Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, Other Sequencing Types), By end user(Hospitals & Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, Academic Institutes & Research Centres, Others End Users), By Region - Industry Forecast 2024-2031

NGS Library Preparation Market size was valued at USD 3.15 billion in 2019 and is poised to grow from USD 3.62 billion in 2023 to USD 10.91 billion by 2031, growing at a CAGR of 14.8% in the forecast period (2024-2031).

Major competitors in the industry use a variety of important expansion strategies, including collaborating with existing manufacturers, making acquisitions, and obtaining regulatory approvals for new sample products. 'Illumina, Inc.', 'Thermo Fisher Scientific Inc.', 'Agilent Technologies Inc.', 'Qiagen N.V.', 'F. Hoffmann-La Roche AG', 'PerkinElmer Inc.', 'Bio-Rad Laboratories, Inc.', 'Oxford Nanopore Technologies Ltd.', 'Beckman Coulter Inc.', 'Becton, Dickinson and Company', 'Fluidigm Corporation', 'Pacific Biosciences of California Inc.', 'New England Biolabs Inc.', 'Hamilton Company', 'Tecan Group Ltd.', 'Takara Bio Inc.', 'Swift Biosciences Inc.', 'Genohm SA', 'Kapa Biosystems, Inc.', 'WaferGen Bio-systems, Inc.', 'In March 2022, Beckman Coulter, Inc. launched CellMekSPS, which is a fully automated sample preparation system that is used for clinical flow cytometry. This fully automated system offers an on-demand multitude of sample types processing that can help laboratories expand testing capabilities.', 'In June 2022, Bio-Rad Laboratories, Inc. launched its SEQuoia Express Stranded RNA Library Prep Kit at the AGBT 2022. This kit is highly efficient for optimal RNA Sequencing Library Preparation and can be used for comprehensive transcriptome profiling.', 'In April 2022, OPENTRONS launched four new OT-2 workstations for all types of applications, including NGS, PCR, and protein purification. Its NGS workstation automates multiple steps of the pre-sequencing, including library preparations. This expansion is expected to increase the accessibility of automation products to customers.'

The decreasing costs of sequencing, the rising incidence of genetic disorders, the growing use of NGS in diagnostics, and the rising amount spent on R&D and healthcare are all driving the market for NGS library preparation. Additionally, this market is anticipated to benefit significantly from the growing number of applications for next-generation sequencing and the growing number of businesses working together to develop library preparation protocols.

The manual preparation of the NGS library takes a lot of time and effort, and it requires a lot of experience and attention to detail. However, researchers are now able to save valuable man-hours by utilizing automated and robotic library preparation solutions. Additionally, sequencing library preparation can be automated to increase throughput, reduce hands-on time, and minimize errors.

North America is estimated to account for the largest share of the ngs library preparation market. The widespread use of NGS-based diagnostic tests, substantial investments in research and development, and growing government support for and investments in the region's genome sequencing infrastructure all contribute to North America's dominant market share.