Studies have demonstrated that the process of sample preparation consumers nearly 70% of the overall time spent on any analytical procedure in the life sciences field. Moreover, the accuracy of the sample prepared has a heavy impact on the overall effectiveness of the outcome of an analysis. Thus, advanced sample preparation technologies and instrument that are capable of reducing the cost and time required to prepare samples are gaining increased popularity in the global market.
In the past few years, R&D activities in life sciences and biotechnology have witnessed a significant rise. Research in the field of environment and climate changes and food safety has also considerably increased in the past few years. These factors have led to an overwhelming rise in the requirement for sample preparation techniques and equipment. In the next few years as well, the potential rise in research activities across these areas will lead to the rise of an immense set of growth opportunities for the global sample preparation market. The market is expected to exhibit a 6.6% CAGR from 2016 through 2024.
Sample Preparation Instruments take Lion’s Share in Sample Preparation Products Landscape
Sample preparation is indispensable in research activities across a number of industries. As a result, the use of sample preparation equipment has become a norm in research laboratories across the globe. Owing to the vast rise in research activities globally, the demand for a variety of sample preparation instruments is rising at an immense pace. Of the key product varieties that come under the purview of the sample preparation market, the segment of sample preparation instrument currently holds the dominant share in terms of revenue contribution to the global market.
The key factor fostering this development is the high cost of most sample preparation instrument compared to other sample preparation products such as kits, accessories, and consumables. The product segments of sample preparation consumables and kits are also witnessing huge development and the market is witnessing product varieties for specialized study areas such as nanotechnology.
North America to Retain Leading Position in Global Landscape
The market for sample preparation in North America held the dominant share in the global market in 2015. The region leads owing to the high adoption of advanced sample preparation technologies and the presence of a large number of world’s top ranking pharmaceutical and biotechnology companies in the region. Moreover, the vast rise in investment across research activities in the fields of epigenetics, genomics, and proteomics also strengthen North America’s hold on the global sample preparation market.
The market for sample preparation in developing economies of Asia Pacific such as India and China is expected to present promising growth opportunities for the global market in the next few years. The factors that will work in favor of the market’s growth across these countries include the flourishing growth of the pharmaceutical industry, vast rise in research and development activities across the biotechnology industry, and positive growth of molecular diagnostics.
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Some of the key players operating in the global sample preparation market are Illumina, Inc., F. Hoffman La Roche, Bio-Rad Laboratories, Agilent Technologies, Thermo Fisher Scientific, Inc., Danaher Corporation, Biotage AB, Merck KGaA, and PerkinElmer, Inc.