Sample Preparation Market: Study Navigating the Future Growth Outlook
Transparency Market Research (TMR) has published a new report titled, ‘Sample Preparation Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global Sample Preparation market was valued at US$ 5,644.3 Mn in 2018 and is projected to expand at a CAGR of 6.6% from 2019 to 2027.
Sample preparation is one of the crucial steps in analysis of any particular biological substance or chemical. Analytical procedure usually consists of steps such as sampling, sample preservation, sample preparation, separation, detection and data analysis.
Analytical procedure usually consists of steps such as sampling, sample preservation, sample preparation, separation, detection and data analysis. After sampling and sample preservation, the next vital step is usually the sample preparation which consumes over 70% of the analysis time
North America dominated the global Sample Preparation market in 2018 and the trend is anticipated to continue during the forecast period. The growth of the market in the region can be attributed to high adoption of superior technologies across all end-user segments. Moreover, investments in cutting edge genomics, proteomics, and epigenetics research; rising emphasis on remedies for environmental concerns, and concentration of some of the world’s major pharmaceutical and biotechnology organizations and academic institutes in the region will propel the sample preparation market in this region.
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Rise in R&D expenditure in various life science domains to Drive Market
The life sciences sector comprises pharmaceutical, biotech, and health care segments. It is progressively achieving profitable revenues globally. This has been partly attributed to emerging markets and positive demographics in those markets as well as due to global leading edge research resulting in blockbuster innovations.
Increase of income levels in emerging markets such as India and China is leading to a rise in health care spending. Moreover, changing lifestyles and increasing urbanization in these countries have led to a gradual escalation in the incidence of life style related diseases such as cancer, diabetes, and heart disease. This has opened up multiple avenues for expansion in the bio-pharmaceutical sector to conduct research and allocate substantial budget for the same.
The need to make up for revenue loss due to expired patents and counter the growing generic market has induced a number of major pharmaceutical companies to acquire or partner new research-based firms. This implies that major pharma companies are increasingly realizing the value of R&D and investing in the same to maintain a competitive edge. This focus on R&D is likely to propel the sample preparation market during the forecast period.
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Solid-phase Extraction Segment to Dominate Market
Based on technique, the global Sample Preparation market has been divided into solid phase extraction, protein precipitation, liquid-liquid extraction, and others. The solid-phase extraction segment dominated the global Sample Preparation market in 2018 and the trend is projected to continue during the forecast period. In terms of usage, solid-phase extraction has been the most popular sample preparation technique owing to its key advantages over other techniques. The advantages include ease of automation, high analyte recovery, lack of emulsion formation, and superior reproducibility and specificity.
Instruments to be Highly Lucrative Segment
- In terms of product, the global Sample Preparation market has been classified into instruments, consumables, kits, and accessories.
- The instruments sample preparation segment dominated the Sample Preparation market. Developments in the pharmaceuticals industry have increased demand for sample analysis. Hence, the global market for sample preparation products is expanding at a much faster rate than ever. Sample preparation products for SPE have become indispensable tools in laboratories across the globe.
North America to Dominate Global Market
- In terms of region, the global Sample Preparation market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global Sample Preparation market in 2018, followed by Europe.
- North America accounted for the largest share of the global sample preparation market due to high adoption of superior technologies across all end-user segments. Additionally, investments in cutting edge genomics, proteomics, and epigenetics research; rising emphasis on remedies for environmental concerns, and concentration of some of the world’s major pharmaceutical and biotechnology organizations and academic institutes in the region drive the market.
- The Sample Preparation market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. The biopharma-emerging market in Asia Pacific is set to witness the highest growth rate during the forecast period as major economies in the region are exploring and enhancing research and development capabilities in several fields in the bioscience domain.
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The sample preparation market is dominated by Thermo Fisher Scientific, Inc., Merck KGaA, PerkinElmer, Inc. and Agilent Technologies. These companies combined represented a market share of about 59% in 2018. The other leading players in the global sample preparation market include Bio-Rad Laboratories, Danaher Corporation, Roche, Qiagen, Restek Corporation, Waters Corporation, Tecan Group, Phenomenex Inc., Biotage , and Illumina Inc., among others.
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