July 13, 2024

The Sample Preparation Market Is Driven By Growing Demand For Life Science Applications

The sample preparation market consists of a wide range of products that are used for effective sample collection, extraction, concentration, and analysis of various matrices such as tissues, biological fluids, environmental solids and liquids. Sample preparation instruments are used across various industries such as life science, chemical, food and beverage testing for research & development, quality control testing and process monitoring applications. Advancements in genomic and proteomic research have increased the application of sample preparation in the life science industry for extraction of components such as nucleic acids, proteins from complex mixtures. The global sample preparation market is estimated to be valued at US$ 52.8 Bn in 2023 and is expected to exhibit a CAGR of 24. % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The demand for automation in sample preparation is a major trend across various end-use industries. Automated sample preparation instruments reduce manual errors and hands-on time, increasing throughput. Technological advancements have led to the development of integrated automated systems with improved modules and reagents for enhanced process efficiency. Furthermore, the growing demand for miniaturized sample preparation devices and microfluidic systems is driven by their advantages such as low sample and reagent requirements. Miniaturized sample preparation technologies are gaining popularity in the development of point-of-care testing devices and personalized medicine. Adoption of integrated sample preparation platforms for single-cell analysis is also expected to provide opportunities over the forecast period.

Porter’s Analysis
Threat of new entrants: Low-intermediate. Considerable capital required for R&D, production facilities, distribution channels. Established players have economies of scale.

Bargaining power of buyers: Intermediate. Buyers are medium in number with significant purchasing power. Growing options with suppliers increases choices.

Bargaining power of suppliers: Low-intermediate. Large suppliers dominate production. Buyers can switch between suppliers if dissatisfied.

Threat of new substitutes: Low. Limited alternatives to sample preparation for reliability required in applications.

Competitive rivalry: High. Dominated by few multinational corporations. Intense competition on pricing and product development.

Key Takeaways
The global sample preparation market size is expected to witness high growth over the forecast period of 2024 to 2031. The market size in 2024 is projected to reach US$ 52.8 billion.

Regional analysis: North America dominates the global market currently. Growth in sectors like pharmaceutical and biotechnology drive demand. Asia Pacific is expected to grow at the fastest rate led by China and India. Increasing R&D spending and manufacturing in the regions support the market.

Key players:

Softdel (A UNIDEL Company), ABB Ltd., Hitachi Ltd., Honeywell International, Avnet Inc., Siemens AG, Legrand SA, Schneider Electric SE, Johnson Controls Inc., Huawei Technologies Co. Ltd., Cisco Systems, and IBM Corporation are some of the prominent players operating in the sample preparation market. The market is highly consolidated with top players competing on the basis of product quality and technological innovations.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it