Published: Feb, 2017
The global sample preparation market is highly competitive in nature with companies striving to establish a leading position, says Transparency Market Research (TMR) in a research report. Efforts have been made in the research and development of new products and also for the purpose of incorporating superior technologies for automated instruments that have extensively helped these companies to maintain a significant market share in the global sample preparation market. The sample preparation market is dominated by Thermo Fisher Scientific, Inc., Merck KGaA, PerkinElmer, Inc., and Agilent Technologies. These companies collectively held a market share of about 59% in 2015. Some of the key players contribute a fair proportion to the global sample preparation market, while a large number of small and medium sized players are trying to compete in this ferociously competitive market. Key participants can tap emerging economies which have high growth potential. Furthermore, increasing the value of products offered by incorporating features which is likely to help reduce per sample handling cost.
The global sample preparation market was valued at US$4,659.5 mn in 2015. It is likely to touch a valuation of US$8,282.3 bn by the end of 2024 expanding at a CAGR of 6.6% between 2016 and 2024.
Sample Preparation Instrument to Lead Market until 2024
In terms of product the global sample preparation market was dominated by the instrument segment in 2015 with a market worth US$1,959.8 mn. It has been projected that this segment will continue to lead the market with a valuation of US$ 3,677.4 mn by the end of 2024. Sample preparation products are a necessary requirement for the bio-analytical processes involved in several fields such as diagnostics, food analysis, environment assessment, drug discovery and development, and research. Sample preparation instruments include liquid handling systems, sample preparation workstations, and extraction systems or liquid extractors. The growth of this segment can be attributed to the low cost in comparison to consumables, kits, and accessories. In addition, the evolving research and development in dynamic fields such as biotechnology, pharmaceutical sciences, and genomics would attract high investments from end users for instruments in order to cater to the growing demands.
Region-wise, in 2015, North America emerged as the dominant region in the global sample preparation market. According to a TMR analyst “It is expected to witness a CAGR of 6.2% between 2016 and 2024.” North America accounted for the largest share of the global sample preparation market due to high implementation of high-end technologies across all the end-user segments. Additionally, investments in cutting edge proteomics, genomics, and epigenetics research, increasing importance on cures for environmental apprehensions, and attentiveness of some of the world’s leading biotechnology and pharmaceutical organizations and academic organizations in the region is expected to drive the market in the coming years.
Advancements in Sample Preparation Technology along with R&D to Push Market Growth
In the last couple of years there have been significant advancements in the technology of sample preparation processes. These comprise automation and superior technique-based advancements such as solid supported liquid-liquid extraction as a development to the conventional technique of liquid-liquid extraction. These innovations are simplified by meticulous and vigorous R&D efforts by global players and academia in all the respective segments. Research and development requires high throughput sampling and analysis. Hence, it is expected to drive the growth of the global sample preparation market. Furthermore, rising awareness and knowledge among consumers and end-use industries regarding the life science industry to provide value and increase their product’s efficacy are likely to bolster the demand for sample preparation.
This review is based on a Transparency Market Research report 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
- 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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