Growth Strategy Adopted by Players in the Sample Preparation Market - Exclusive Report by MarketsandMarkets™

Posted September 23, 2021 by mmvaidya

New Product Launches Was the Major Growth Strategy Adopted by Players in the Sample Preparation Market
According to the new market research report, "Sample Preparation Market by Product (Instruments (Workstations, Liquid Handling Systems), Consumables (Kits, Filters)), by Application (Genomics, Proteomics), by End Users (Pharmaceutical and Biotechnology, Food and Beverage) - Global Forecast to 2021", This report studies the sample preparation market for the forecast period of 2016 to 2021. This market is expected to reach USD 7,203.2 Million by 2021 from USD 5,512.2 Million in 2016, growing at a CAGR of 5.5%.

Browse and in-depth TOC on "Sample Preparation Market"
116 - Tables
46 - Figures
210 - Pages

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Growth Boosting Factors:

A number of factors such as the shift from manual to automated sample preparation, increasing research in the field of genomics, increase in laboratory and R&D spending, global alliances among leading research institutes to boost drug discovery, increasing need for food analysis due to safety concerns, and rising adoption of modern extraction techniques are expected to drive the growth of the sample preparation market during the forecast period.

Key Players:

The overall sample preparation market comprises of different players securing leadership position in different product lines. For instance, QIAGEN N.V. (The Netherlands) leads the sample preparation automated workstation market whereas Thermo Fisher Scientific, Inc. (U.S.) and Tecan Group Ltd. (Switzerland) dominate the automated liquid handling systems market. Other players having significant presence in this market include Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), Illumina, Inc.(U.S.), PerkinElmer, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Norgen Biotek Corporation (Canada), Hamilton Company (U.S.), Merck (U.S.), Promega Corporation (U.S.), and Roche Applied Science (U.S).

QIAGEN N.V. is among the leading players in the sample preparation market. A wide product portfolio, high focus on increasing company presence in the emerging economies, and continuous launch of new and innovative products are contributing to the company’s dominance in this market. The company has high focus on innovation through the launch of new products. During 2013 to 2016 the company launched several sample preparation products and solutions. For instance, in February 2016, QIAGEN expanded its portfolio of ‘Sample to Insight’ solutions with the launch of more than 170 new QIAseq Targeted RNA Panels for gene expression profiling.

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Thermo Fisher Scientific, Inc. is another major player in the sample preparation market. The company has a well-established brand and has operations in over 150 countries. Acquisition is preferred choice of strategy adopted by the company to expand its product portfolio and enter into emerging businesses. For instance, in 2016, the company acquired Affymetrix, Inc. (U.S.) to strengthen its laboratory equipment offerings, which include diagnostic tools for hospitals and mass spectrometers for chemists.

PerkinElmer, Inc. (U.S.) is another dominant player in the global sample preparation market. The company is a leading provider of products, services, and solutions to the diagnostics, research, environmental, industrial, and laboratory services markets. The company strategically focuses on expanding its presence in emerging economies. For instance in 2016, PerkinElmer expanded its footprint in India by opening a new diagnostics facility in India. Similarly, the company established a subsidiary in China called Suzhou PerkinElmer Medial Laboratory Co. ltd (in 2015) and direct operations in Israel (in 2013) to provide products and customer service.

The other players in this market have implemented various strategies to expand their global footprint and increase their market share. Major growth strategies followed by market players include new product launches, agreements, collaborations, and partnerships. New product launches accounted for major share followed by agreements, collaborations, and partnerships which accounted for the second-largest share of the total number of key growth strategies adopted by players in the sample preparation market during 2013 to 2016. Acquisitions, product enhancement, and other developments (market promotions and grants) are some of the other strategies adopted by players to achieve growth in the sample preparation market.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags sample preparation market
Last Updated September 23, 2021