Sequencing Reagents Market exhibiting CAGR of 12.5% by 2032, due to the growing demand for early diagnosis of genetic disorders | insightSLICE
The global Sequencing Reagents market size was estimated to be US$ 6.5 billion in 2021 and is expected grow at a CAGR of 12.5% between 2023 to 2032.
Sequencing reagents are materials and chemicals needed for genomic sequencing protocols. As a result, sequencing reagents are made up of a wide variety of chemicals, each of which serves a different purpose in the sequencing process, from beginning to end.
The reagents have different synthesis and maintenance processes since they are made up of a wide variety of chemical components.
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Global Sequencing Reagents Market Key Segments:
- Next-generation sequencing
- Sanger sequencing
- Third generation sequencing
By Reagent type
- Library kits
- Template kits
- Control kits
- Sequencing kits
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Rest of South America
The adoption of these technologies has increased as a result of technological developments in the field of DNA and protein sequencing and the decreased cost of these services, which has in turn allowed the worldwide market for sequencing reagents to expand.
Funding for research institutions increased due to increased R&D efforts, and the widespread use of these services in corporate research has also allowed the market for sequencing reagents to grow more quickly.
The key players of the Global Sequencing Reagents Market are:
Avantor, Inc., Agilent Technologies, Inc., BioChain Institute Inc., BioLegend, Inc., FroggaBio Inc., F. Hoffmann-La Roche Ltd, Fluidigm Corporation, Illumina, Inc., LGC Limited, Meridian, Merck KGaA, Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, QIAGEN, Pacific Biosciences of California, Inc., New England Biolabs, TriLink BioTechnologies, Tecan Trading AG, Takara Bio Inc., etc, are some of the biggest companies operating in the global sequencing reagents market.
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Driving factors for the growth of Global Sequencing Reagents Market
The biggest market share of sequencing services is held by next-generation sequencing (NGS) technologies, which are widely used in molecular diagnostics, molecular pathology, and clinical research applications. NGS is widely used in clinical research and illness diagnosis because it is more accessible, less complicated, and quicker than the earlier generation of sequencing methods.
Additionally, the NGS’s deeper sequencing capabilities help in the improved finding of uncommon and new gene variants. Personalized drug research and development made possible by NGS technology has increased acceptance in this industry as well as improved in-vitro diagnosis of rare and complex diseases.
Due to all the mentioned benefits and uses, NGS is anticipated to grow substantially in the forecast period, and therefore the sequencing reagents market for NGS may also see positive growth in this period.
Using sequencing technology, it is also possible to comprehend cancer and the processes that contribute to its development. NGS is having a favorable impact on tumor transcriptome and epigenetic oncology studies, improved cancer cell identification, and tumor stratification in cancer patients.
NGS and other sequencing methods are being used more often in new clinical trials and genetic vulnerability assessment protocols. As a result, the global market for sequencing reagents has expanded due to a rising need for sequencing techniques in cancer therapies.
A deeper understanding of infection pathways, antibiotic resistance, virulence, and disease transmission of various causal agents has been gained by research using high-throughput methods and bioinformatics. The market for sequencing reagents has indirectly expanded due to the rising use of NGS and bioinformatics-based illness diagnostic approaches.
In comparison to NGS and other earlier techniques, Third Generation Sequencing (TGS) is a modern sequencing technology that offers reliable and quick processing. New use cases may be accomplished with the advent of third-generation sequencing technologies and methodologies, ensuring the market for sequencing and sequencing chemicals will continue to rise during the projection period.
The creation of sequencing libraries using cutting-edge methods like Nanopore and Single-Molecule Real Time (SMRT) sequencing can contribute to an overall quicker and more effective sequencing procedure.
Additionally, these libraries can support the resequencing of the genome more effectively than older methods. TGS’s general data quality, streamlined workflow, and decreased genome fragmentation are some of the advantages that call for greater use of the technology in biomedical research and science.
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Supportive Government initiative act as an opportunity for the market growth
The cost of genetic sequencing is expected to decrease, which will increase its usage in the commercial and clinical sectors. This is expected to generate significant amounts of revenue for the market for sequencing reagents throughout the estimated period.
Additionally, it is anticipated that sales of sequencing reagents would increase as a result of the greater acceptability of sequencing-based diagnoses brought on by government efforts.
Regional performance of Sequencing Reagents Market
In terms of revenue and market share, North America is anticipated to rule the sequencing reagents market throughout the projected timeframe. The sequencing reagents market has been expanding steadily which can be attributed to the prevalence of major players, a developed market, and better economies in this area.
The market for sequencing reagents and services is currently anticipated to develop at the fastest rate throughout the projected period in the Asia-Pacific region. These rapid growth rates are anticipated as a result of the advancement of more advanced and cost-effective technologies.
COVID-19 impact on Sequencing Reagents market
Due to its negative impact on interruptions in the global supply chain, the covid-19 pandemic has caused a crisis in several different industries.
The market for sequencing reagents, however, expanded without any major hurdles in 2020–2021 thanks to an expansion in research projects for drugs and vaccines against COVID–19. Therefore, the pandemic contributed to this sector’s favourable growth, which is anticipated to continue in the coming years.
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