The global sample preparation market is led by players such as Thermo Fisher Scientific, Inc., PerkinElmer, Inc., Merck KGaA, and Agilent Technologies. These companies constitute a total share of 59% in the market, as per Transparency Market Research (TMR). Hence, a number of prime players contribute to a fair proportion, while other small players are putting in efforts to compete within this highly competitive market. In order to have a strong foothold in the global sample preparation market, the top players will need to tap the developing economies having a huge growth potential in them. In addition, the players can also maintain their superiority in this market by raising their product value through incorporating numerous new features, thus reducing per sample handling cost.
The global sample preparation market stood at US$4,659.5 mn in 2015 and is predicted to touch US$ 8,282.3 mn by 2024. On the basis of technique, the segment of solid phase extraction (SPE) has emerged as the most widely utilized sample preparation technique due to a number of advantages provided by this technique as compared to other techniques. These advantages include absence of emulsion formation and ease of automation. The SPE segment is predicted to touch US$3,058.1 mn in 2024. On the other hand, protein precipitation, trailed by centrifugation, is amongst the most extensively employed sample preparation techniques utilized for removing proteins.
Sample Preparation Instruments to Hold a Lead Position in Market
On the basis of product, the segment of sample preparation instruments leads the market in terms of revenue. This segment is predicted to reach US$3,677.4 mn by 2024 on the basis of revenue. On the other hand, the segment of consumables held the second position in the sample preparation market. By Application, the segment of genomics holds a significant share in the market on the basis of revenue. This is due to the increasing demand for genetically modified animals and crops, rising competition within the pharmaceutical industry, and falling prices of genomic procedures. This segment is predicted to rise at a CAGR of 6.50% between 2016 and 2024.
By end user, the segment of others holds a dominant share in the market. In this segment, forensic laboratories and clinical research organizations have emerged as the leading end users in the sample preparation market. The segment of others is predicted to reach US$ 2,666.9 mn in 2024.
Geographically, the North America sample preparation market emerged as the most dominant market in 2015. This market is predicted to maintain its superiority all through the forecast period. The North America sample preparation market is expected to rise at a 6.20% CAGR between 2016 and 2024.
Increasing R&D Expenditure in Life sciences to Bolster Market Growth
The global sample preparation market is fuelled by the rising research and development (R&D) expenditure in life sciences, states a TMR analyst. In addition, a number of technological advancements have been seen in the sample preparation market since the past few years which have enhanced the sample preparation processes. Furthermore, a number of companies are introducing products that can experience excellent sample preparation even in case of low elution volume. All these factors will boost the development of the overall market.
On the other hand, the global sample preparation market is experiencing immense competition owing to the rising competition amongst the local players that are offering devices at cheap costs and the prime players. This may impede the development of the market owing to price-based competition. In addition, consumers are inclined toward buying used equipment, particularly in developing countries, owing to the high cost of sample preparation devices. This factor may also pose a negative impact on the growth of the overall market.
“Nonetheless, the increasing initiatives by governments globally to raise the biopharma and biotechnology sector will bring in new growth opportunities in the global sample preparation market,” says a TMR analyst.
This information is based on the findings of a report published by Transparency Market Research titled, “Sample Preparation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
The global sample preparation market has been segmented as follows:
Global Sample Preparation Market, by Technique
- Solid Phase Extraction
- Liquid-liquid Extraction
- Protein Precipitation
- Others (QuEChERS, SFE, etc.)
Global Sample Preparation Market, by Product
- Sample Preparation Instruments
- Sample Preparation Kits
Global Sample Preparation Market, by End-user
- Pharmaceutical Industries
- Diagnostic Laboratories
- Academic Institutes
- Others (food industry, forensics, and environmental testing)
Global Sample Preparation Market, by Application
Global Sample Preparation Market, by Geography
- North America
- Asia Pacific
- Rest of APAC
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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