Sample Preparation Market | Growing Demand for Sample Preparation Products to Drive Growth | Technavio

The sample preparation market is set to grow by USD 2.29 billion, accelerating at a CAGR of almost 7%, during the period spanning over 2020-2024. One of the key factors driving growth is the growing demand for sample preparation products. The rising prevalence of various diseases has increased the demand for the development of effective drugs. Growth in product launches is a significant trend that will further stimulate market growth. To remain competitive in the market, vendors are constantly increasing their R&D efforts, which has resulted in the easy availability of a range of sample preparation products globally.

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Technavio has announced its latest market research report titled Global Sample Preparation Market 2020-2024 (Graphic: Business Wire).

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Parent Market Analysis

Technavio categorizes the global sample preparation market as a part of the global life science tools and services market. The parent, global life science tools and services market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, accessories, and consumables that are used for R&D on pharmaceuticals and biotechnology products and laboratory diagnosis of various diseases. It also covers life sciences related services, including contract research, contract manufacturing, and contract sales. Growth in the global healthcare market will be driven by the increasing life expectancy.

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Sample Preparation Market: Geographic Segmentation

The report segments the market by geography: North America, Europe, Asia, and ROW. About 35% of the market’s growth will originate from North America during the forecast period. Growing investments in the R&D of new drugs, increasing approval of monoclonal antibody-based therapies, and the high concentration of prominent vendors are driving the market in North America. The US and Canada are the key markets for sample preparation in North America.

Sample Preparation Market: Segmentation by Product

The consumables segment was leading the segment in 2019. Sample preparation consumables are extensively used in applications such as desalting, trace enrichment, detergent removal, purification, buffer exchange, small molecule removal, PCR cleanup, and de-staining. The increasing demand for consumables that are simple, fast, easy to use, and suitable to use with a wide variety of instruments and samples are driving the growth of the segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the sample preparation market size.

Sample Preparation Market: Growth Drivers

The market is driven by the growing demand for sample preparation products in preclinical research. Biological samples are widely used in preclinical research applications to trace impurities and chemical components such as salts, detergents, dyes, radiolabels, buffers, and undesirable molecules. To remove such impurities and chemical components and enrich the targeted materials, sample preparation products are used in processes such as purification, filtration, de-salting, trace enrichment, de-staining, detergent removal, and buffer exchange. The rising prevalence of various diseases has increased the demand for the development of new and effective therapeutics. This is expected to fuel the growth of the market during the forecast period.

Sample Preparation Market: Challenges to Overcome

The demand for lowering single-use plastic waste generation among laboratories is increasing. This has become a major concern for the vendors, which has led them to focus on finding the alternative for single-use plastics. However, finding a sustainable alternative with inert properties and no leaching effects has been challenging for the vendors.

Sample Preparation Market: Vendor landscape

This report provides information on revenue, organizational developments, and key go-to-market strategies of several leading sample preparation companies, including:

• Agilent Technologies Inc.
• Bio-Rad Laboratories Inc.
• Danaher Corp.
• Eppendorf AG
• F. Hoffmann-La Roche Ltd.
• Harvard Bioscience Inc.
• Merck KGaA
• PerkinElmer Inc.
• QIAGEN NV
• Thermo Fisher Scientific Inc.

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View market snapshot before purchasing

Technavio reports cover the following key research areas:

• Detailed Analysis of Market Eco System
• Market favorability index
• Market opportunity by segments
• Customer Landscape
  • Analysis of drivers of price sensitivity
  • Key purchase criteria
  • Customer purchase basket
• Impact of drivers and Challenges
• Vendor landscape
  • Factors of differentiation
  • Landscape disruption
  • Key industry risks
  • Market position of vendors

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201022005902/en/