June 16, 2024

Sample Preparation Market Propelled By Increasing Demand For New Drug And Molecular Diagnostics

Sample preparation products are widely used in various industries like pharmaceutical, biotechnology, food testing, diagnosis of diseases and many more. These products help in preparing specimens for testing and analysis which provides accurate and meaningful results. They help in liquid handling, homogenization, lysis, DNA/RNA purification etc. Ensuring the integrity of the sample being analyzed is crucial for diagnosis and research. 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 increasing demand for development of new drugs and molecular diagnostics has propelled the growth of the sample preparation market. Extensive research is being conducted for developing targeted therapies and personalized medicines which requires analyzing various molecular biomarkers. Sample preparation plays a key role in effective isolation and purification of nucleic acids, proteins and other biomolecules from complex clinical samples. This has significantly increased the demand for automated sample preparation instruments and kits which help in standardizing result and minimizing manual errors. Growing focus on developing simple and scalable workflows for sample preparation across various research areas like precision medicine is anticipated to drive the industry growth over the forecast period.

SWOT Analysis
Strength: The sample preparation market has strong growth potential due to increasing R&D activities in the pharmaceutical and biotechnology industries.
Weakness: High initial investment and maintenance costs associated with sample preparation equipment can restrain the market growth.
Opportunity: Technological advancements in sample preparation such as automated liquid handling systems and microplate readers will create new opportunities for market players.
Threats: stringent regulations related to safety and quality of samples can challenge the market growth.

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

Regional analysis – North America is currently the dominant region for the sample preparation market owing to rapid advancements in biosciences research and growing emphasis on effective cancer diagnosis in the region. Asia Pacific is expected to be the fastest growing market due to rising investments by key players and growing initiatives to develop the life science industries in India and China.

Key players analysis –

Key players operating in the sample preparation market are 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. The players are focusing on new product launches and partnerships with research institutes to strengthen their market position. For instance, in 2020, Softdel launched Soft del PrepStation, an automated liquid handling instrument to streamline sample preparation workflows.

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