Government Investments to Encourage Biotechnology and Bio-pharma Sectors to Bolster Global Sample Preparation Market

Sample preparation is considered as one of the most effective technique, thanks to which the global market is expected to experience a significant growth in the coming years. Technological advancements in this field are estimated to supplement the development of the market in the near future. According to a research study by Transparency Market Research, in 2015, the global sample preparation market was worth US$4.6 bn and is likely to reach a value of US$8.3 bn by the end of 2024. The market is expected to exhibit a healthy 6.60% CAGR between 2016 and 2024.

The following blog offers answers to several questions related to the growth and development of the sample preparation market across the globe. These are predicted to help the players and readers in attaining a clear understanding of the overall market.

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Which factors are expected to contribute towards the development of the global sample preparation market?

A significant rise in the research and development activities and expenditure in life sciences is anticipated to accelerate the growth of the global sample preparation market in the coming years. In addition, technological advancements and the introduction of innovative sample preparation products are predicted to supplement the growth of the overall market. On the other hand, the high cost of equipment is one of the key factors expected to restrict the growth of the market in the coming years. Nevertheless, the rising number of government initiatives in order to develop the biotechnology and bio-pharma sectors are projected to offer lucrative growth opportunities for players in the global sample preparation market in the next few years.

Which product segment is likely to dominate the global sample preparation market?

According to the research study, the global market for sample preparation has been categorized on the basis of product into accessories, consumables, sample preparation kits, and sample preparation instruments. Among these, the instruments segment is expected to witness a healthy growth in the next few years. This segment is projected to be followed by the consumables segment in the next few years. The rising number of developments and innovations is projected to encourage the growth of these segments in the coming years.

Which geographical region is expected to experience robust growth in the next few years?

In the last few years, North America held a vast share of the global sample preparation market, owing to the rising adoption of superior technologies across diverse segments. The increasing investments in proteomics and genomics are anticipated to accelerate the growth of the North America market in the near future. As per the study, this region is likely to maintain its dominating position in the coming years, followed by Europe and Asia Pacific. 

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