Global Sample Preparation Market is anticipated to grow at a 5.6% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Sample Preparation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global sample preparation market is estimated to be over US$ 5.5 Bn in 2017. It is anticipated to grow at a CAGR of 5.6% from 2019 to 2030.
Increasing R&D investments & funding from both private and public sector has presented a bright prospect for the growth of sample preparation market. Introduction of innovative new technologies has further led to wide scale application of such techniques and application of sample preparation instruments, devices and techniques
Automated Sample Preparation to Contribute to the Growth of the Market
Introduction of automated sample preparation techniques have been have been crucial in governing the extensive growth of the sample preparation market. Various advantages of such processes, namely reduced error, high productivity, efficacy and efficiency have been proven to impart high degree of reproducible results. Similarly incrementing the entire process of sample preparation with automated services of solid-phase extraction, solvent extraction and evaporation systems is anticipated to further contribute to the growth of the sample preparation market in the times ahead
Increasing Investments in R&D
Rising prevalence and incidences of several diseases worldwide has triggered the need for advanced R&D scenario across all sectors of biotechnology, life sciences, pharmaceuticals and research establishments. Both public and private sectors are now focusing on new innovative techniques, ideas to obtain latest breakthroughs in the field of life sciences. According to studies, it was estimated that the total spending on R&D by mid-market biotechnology companies, witnessed an increment of approximately 18% between 2015 and 2016. Growing need to address several forms of ailments has been crucial in dictating the funding and R&D spending by governmental establishments as well as major market players and other research institutes. Increasing R&D investments and spending is anticipated to positively contribute to the growth of the global sample preparation market.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Sample Preparation Market by Product (Instruments (Workstations, Liquid Handling Systems), Kits & Reagents (Purification, Isolation, Extraction), Consumables (Tubes, Filters), Accessories), Application (Genomics, Proteomics), End Users (Pharmaceutical & Biotechnology, Academic Research, Contract Research Organization) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/sample-preparation-market/29
High Costs and Time Associated with Drug Development Process
Drug development process incurs costs and is a time consuming procedure and is one of the major factors affecting the growth of the sample preparation market. The entire process of drug formulation is extremely tedious, requiring soaring investments both in terms of revenue as well as technology and man power. Thereby, increasing cost of the products, also various regulatory approvals are required accompanied with stringent government rules making this a process costly and is time consuming. Hence, limiting the use of sample preparation studies and techniques and restraining the extensive growth of the market during the forecast period
High Cost of Workstations to Restrain the Market
Although sample preparation devices ensure reduced time, better efficiency & efficacy and several other benefits, but cost of these instruments somewhat limits its adoption. Automated sample preparation workstations as compared to its conventional counterparts are expensive, owing to high cost of devices, high maintenance charges, automations, which directly contributes to the increased cost of such devices.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing growth of the biopharmaceutical industry, continuously growing economy, increasing private and public funding in the sector of R&D is anticipated to present a lucrative growth scenario for the sample preparation market in this region.
Major Players in the Sample Preparation Market
The prominent players in the global sample preparation market are Qiagen, ThermoFisher Scientific, Aligent Technologies, Inc., Bio-Rad Laboratories, Illumina, Inc., Hamilton Company, Merck KGaA, Hamilton Company, Roche, and Tecan Group Ltd. among others
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