Market Trends of Sample Preparation Industry
This section covers the major market trends shaping the Sample Preparation Market according to our research experts:
Pharmaceutical Segment is Expected to Hold a Significant Share in the Market over the Forecast Period
The pharmaceutical segment is expected to hold a major market share over the forecast period owing to the extensive use of sample preparation in product development and manufacturing. Pharmaceutical products and biological materials are very complex. Although pharmaceutical analyses have been carried out using various highly efficient analytical instruments, a sample preparation procedure is usually necessary to extract and isolate the analytes of interest from these complex matrixes because most analytical tools cannot handle the matrix directly. The development of sample preparation plays a vital role in pharmaceutical analysis. Its final aim should be to isolate and purify the analyte from those matrixes, thereby contributing to the growth of the studied segment.
As crucial as sample preparation is for pharmaceutical research, its demand is expected to increase with increased pharmaceutical spending. The data updated by Organisation for Economic Co-operation and Development (OECD) in August 2022 stated that South Korea spent USD 728 per capita, followed by Italy's USD 708 per capita in 2021. This spending on pharmaceuticals in the countries increased from 2020. Thus, the rise in spending indicates the focus of this company on research and development. This ultimately creates demand for sample preparation products used in pharmaceutical development, thereby driving the segment's growth.
Furthermore, per the Journal of Pharmaceutical analysis article published in March 2022, sample preparation is regarded as the bottleneck phase in bioanalysis due to the complexity and individual problems presented by each biological matrix. And the researchers of the study used solid phase extraction (SPE), liquid-liquid extraction (LLE), head space-single drop microextraction (HS-SPME), and single drop microextraction (SDME) sample preparation techniques, among others. Adopting sample preparation techniques in the research and development of pharmaceuticals is expected to boost the market's growth.
Hence, owing to the abovementioned factors, the pharmaceutical segment is expected to attain good growth over the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
North America will dominate the sample preparation market throughout the forecast period. Factors such as increasing research and development (R&D), product launches, and the concentration of market players in the region are predicted to drive the market's growth.
The United States is expected to be the largest market in this region, among other countries. In the United States, the pharmaceutical industry is most research-intensive. The industry is deeply invested in applying innovative solutions to enhance pipeline development to support improvements in patient care. According to the NCBI article published in March 2022, the United States accounts for about 45% of the world's pharmaceutical market and 22% of its manufacturing. Additionally, as per the source mentioned above, the United States pharmaceutical production and sales will continue to grow in the current year. Hence, the high investment in R&D in the pharmaceutical sector in the United States is anticipated to drive demand for sample preparation products and applications. Thereby forcing the market's growth.
Furthermore, the well-established healthcare infrastructure-focused market players in research and development (R&D) for life sciences and pharmaceuticals and recent product launches in the United States are primary growth factors for the market. For instance, in June 2022, Thermo Fisher Scientific showcased the AccelerOme Automated Sample Preparation Platform during the 70th American Society for Mass Spectrometry (ASMS) Conference on Mass Spectrometry and Allied Topics, held during June 5-9, 2022.
In addition, in July 2022, PerkinElmer Inc., a global leader committed to innovating for a healthier world, launched the research use only (RUO) BioQule NGS System, an automated benchtop solution for next-generation sequencing (NGS) library preparation of up to eight samples. The BioQule NGS System allows researchers to create qualitative NGS libraries that produce dependable, repeatable results in various applications requiring genomic analysis by combining automated thermocycling, integrated quality control through optical quantification, and durable liquid handling technology into a single device. Thus, such developments are expected to drive the market's growth in the country, driving the overall market growth in the region.
Therefore, owing to the abovementioned factors, the market studied is predicted to witness growth in North America over the forecast period.
