by Sample preparation plays a crucial role in life science research as it helps in deriving accurate and reliable analytical data from biological and chemical samples. It involves processes like homogenization, purification, concentration, and isolation of the desired analyte from complex mixtures. Effective sample preparation helps in obtaining clean and interference-free samples, thereby improving the accuracy and productivity of downstream analytical techniques such as chromatography, spectroscopy, and microscopy.
The global Sample Preparation Market is estimated to be valued at US$ 45.83 Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the Sample Preparation Market Demand is the technological advancements. Vendors are increasingly focusing on development of systems integrated with innovative technologies like robotics and automation. For instance, the SLAS (Society for Laboratory Automation and Screening) offers solutions such as automated liquid handling, automated sample prep, automation of DNA/RNA work, and microplate processing. These solutions help in increasing throughput, improving reproducibility, and reducing hands-on time. Similarly, integrated systems combining technologies like homogenization, lysis/binding, wash, and elution help in streamlining workflows and decreasing turnaround time. Such innovative solutions are expected to boost the demand for sample preparation products, thereby fuelling the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: New entrants face high start-up costs to establish manufacturing facilities and distribution network. Bargaining power of buyers: The buyers have moderate bargaining due to presence of numerous product options and suppliers in sample preparation market. Bargaining power of suppliers: A few major players dominate the supply market. Threat of new substitutes: Threat from substitutes is low as sample preparation techniques have industry-wide acceptance. Competitive rivalry: Rivalry is high due to presence of numerous global and regional players.
SWOT Analysis
Strengths: Advanced technologies and automation in techniques. Weaknesses: High capital requirements for start-ups. Opportunities: Growth in proteomics and genomics research. Threats: Stringent regulations and compliance requirements.
Key Takeaways
The global sample preparation market is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing demand for personalized medicine and precision diagnostics. The North American region dominated the market in 2023 with a share of over 35%, owing to presence of major global players and increasing R&D investments in healthcare sector in the US. Regional analysis Asia Pacific is poised to be the fastest growing region during the forecast period, due to increased healthcare spending, rising research funding and growing geriatric population.
Key players operating in the sample preparation market are F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Danaher Corporation, Qiagen N.V., PerkinElmer, Inc., Illumina, Inc. and Merck KGaA.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
