This new report also includes information such as Future Growth & Business Opportunities. The sample preparation market is expected to grow at a CAGR of 5.5% during the forecast period to reach USD 7,203.2 Million by 2021 from an estimated USD 5,512.2 Million in 2016.
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The market growth can be attributed to increasing research activities in genomics, shift from manual sample preparation to workstations, global alliances among leading research institutes to boost drug discovery, rising adoption of modern extraction techniques, technological advancements in analytical instruments, increasing life sciences R&D spending, and increasing need for food analysis due to safety concerns.
Sample Preparation Market report categories the Global market by Application (Proteomics, Genomics), Product (Consumables (Filters, Kits), Instruments (Workstations, Liquid Handling Systems)), End Users (Food and Beverage, Pharmaceutical and Biotechnology) & Geography
The sample preparation market is segmented on the basis of product, application, and end user. By product, the market is categorized into instruments, consumables, and accessories.
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Consumables segment is expected to account for the largest share of the market in 2016 and is projected to grow at the highest CAGR during the forecast period. The largest share of this segment is attributed to frequent requirement of replacing the consumables leading to repeat purchases.
For instance, the kits are meant for a single use and thus necessitate to be purchased again for each procedure. This is in contrast to sample preparation equipment that form a part of capital/one-time purchases.
The sample preparation market, based on application, is segmented into genomics, proteomics, epigenomics and epigenetics, and other applications (forensic sample preparation, food testing, and environmental monitoring). The genomics segment is expected to account for the largest share of the market in 2016.
This is mainly attributed to rise in the number of researches in the field of genomics, growing popularity of personalized medicine, and increasing instances of infectious diseases. This segment is projected to grow at the highest CAGR during the forecast period.
On the basis of regions, the sample preparation market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to account for the largest share of the market in 2016.
The large share of the North America can be attributed to steady increase in laboratory spending, advances in forensic sciences, investment in metabolomics research in the U.S. and growth in the food testing industry in Canada.
However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
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