Sample preparation is an important step for analysis across various industries including life sciences, pharmaceutical, biotechnology and others. It involves a variety of processes such as dissolving, extracting, precipitation and filtration, which are needed to extract and isolate biomolecules such as DNA, RNA and proteins from complex biological samples such as blood, urine, tissue etc. Advances in life sciences research have increased the demand for robust and reliable sample preparation techniques. Automated sample preparation systems help streamline workflow and increase productivity by eliminating manual errors and reducing processing time. Technologies such as microfluidics and robotics are enhancing automation and miniaturization of sample preparation.
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:
The sample preparation market is witnessing increasing adoption of automated sample preparation systems driven by the need for standardized, high-throughput and reproducible results. Automation allows processing of large volumes of samples with minimal human intervention thus improving efficiency. Growing focus on personalized medicine and companion diagnostics has further fueled the demand for sample preparation technologies. Miniaturization of lab equipment and assays using microfluidic techniques is another emerging trend. It enables analyzing minute sample volumes, reduces reagent consumption and allows developing point-of-care testing devices. Growing demand for biomarker analysis in cancer and other diseases is also propelling the sample preparation market.
Porter’s Analysis
Threat of new entrants: Low capital requirement and available technology has reduced entry barriers in this market. However, existing major players have significant brand recognition and distribution networks.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products. This compels players to reduce prices and invest more in innovation.
Bargaining power of suppliers: A few major global players dominate the supply market. This gives them substantial control over prices of raw materials.
Threat of new substitutes: Technological advancements have increased substitute threats such as microfluidics-based sample preparation. However, customized applications require specific sample prep solutions.
Competitive rivalry: Intense competition exists among major players to gain higher market share through product launches and strategic partnerships.
Key Takeaways
The global Sample Preparation Market Demand is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing adoption of personalized medicine and growing focus on food quality testing.
Regionally, North America dominates the market currently due to rising research funding and presence of advanced laboratories. Asia Pacific is anticipated to be the fastest growing market owing to increasing healthcare expenditure and growing biopharmaceutical industry in the region.
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. These players are focusing on new product launches and partnerships to strengthen their market position.
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