The Global Sequencing Reagents Market to Attain $16451.5 million by 2028

November 17 15:34 2021
The Global Sequencing Reagents Market to Attain $16451.5 million by 2028
The Global Sequencing Reagents Market
Triton’s research report infers that the global sequencing reagents market acquired $5601.6 million in 2020, and is expected to grow at a CAGR of 12.83% by 2028.

A recent study by Triton Market Research titled ‘Global Sequencing Reagents Market’ entails the Global Analysis and Forecasts by Industry Verticals (Research Institutes, Pharmaceutical and Biotechnology Companies, Hospitals and Clinics, Other Industry Verticals), Reagent Type (Library Kits, Template Kits, Sequencing Kits, Control Kits, Other Reagent Types), Technology (Third-Generation Sequencing, Sanger Sequencing, Next-Generation Sequencing), Application (Clinical Investigation, Oncology, Reproductive Health, Agri Genomics and Forensics, Other Applications), and by Geography (North America, Asia-Pacific, Middle East and Africa, Latin America, Europe). 

Sequencing reagents are primarily employed in the sequencing process. They are used for clinical investigation, oncology, reproductive health, and other applications. 

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Triton’s research report insinuates that the global sequencing reagents market is anticipated to progress at a CAGR of 12.83% in revenue during the years 2021-2028. It is likely to gain revenue worth $16451.5 million by 2028.

Over the years, there has been a significant rise in older adults diagnosed with chronic conditions. As per twin studies, genes contribute to chronic conditions such as cardiovascular diseases, diabetes, obesity, RA, and depression. However, recently, it has become possible to measure individual-level risks for these conditions using molecular genetic data. This rise in chronic diseases has enhanced research activities relating to genomics. Hence, ongoing genomics research is driving the growth of the sequencing reagents market. 

However, social and ethical issues relating to data privacy and the lack of professionals having adequate knowledge about genomics in developing countries restrict the development of the sequencing reagents market. 

The global sequencing reagents market is sectioned into industry verticals, reagent type, technology, and application. Based on industry verticals, it is sectioned into research institutes, pharmaceutical and biotechnology companies, hospitals and clinics, and other industry verticals. The reagent type section is divided into library kits, template kits, sequencing kits, control kits, and other reagent types. In terms of technology, it is branched into third-generation sequencing, sanger sequencing, and next-generation sequencing. Lastly, the application section is categorized into clinical investigation, oncology, reproductive health, Agri genomics and forensics, and other applications. 

The Asia-Pacific is expected to emerge as the fastest evolving region in the sequencing reagents market over the estimated phase. This growth is mainly on account of investments by governments across the region. Other than this, the surge in research and development activities in genomics is adding to the studied market’s growth. For instance, the Indian government has introduced initiatives to support startups in the biotechnology sectors, fostering the growth of the sequencing reagents market. 

Illumina Inc, Trilink Biotechnologies Inc, Pacific Biosciences of California Inc, Merck KGAA, BGI Genomics, F Hoffmann La Roche, Agilent Technologies Inc, Asuragen Inc, Qiagen NV, Takara Bio Inc, LGC Biosearch Technologies, Perkinelmer Inc, Thermo Fisher Scientific Inc, Bio Rad Laboratories Inc, and Fluidigm Corporation are well-known companies thriving in the sequencing reagents market. 

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Question & Answer: Sequencing Reagents Market

Question 1: What key factor is driving the growth of the sequencing reagents market?

Answer: Over the years, there has been a significant rise in older adults diagnosed with chronic conditions. As per twin studies, genes contribute to chronic conditions such as cardiovascular diseases, diabetes, obesity, RA, and depression. However, recently, it has become possible to measure individual-level risks for these conditions using molecular genetic data. This rise in chronic diseases has enhanced research activities relating to genomics. Hence, ongoing genomics research is driving the growth of the sequencing reagents market. 

Question 2: What factors restrict the development of the sequencing reagents market?

Answer: Several social and ethical issues relating to data privacy and the lack of professionals having adequate knowledge about genomics in developing countries restrict the development of the sequencing reagents market. 

Question 3: Which region is expected to emerge as the fastest evolving region in the sequencing reagents market?

Answer:  The Asia-Pacific is expected to emerge as the fastest evolving region in the sequencing reagents market over the estimated phase. This growth is mainly on account of investments by governments across the region. Other than this, the surge in research and development activities in genomics is adding to the studied market’s growth. For instance, the Indian government has introduced initiatives to support startups in the biotechnology sectors, fostering the growth of the sequencing reagents market. 

Question 4: Which are the well-known companies thriving in the sequencing reagents market?

Answer: Illumina Inc, Trilink Biotechnologies Inc, Pacific Biosciences of California Inc, Merck KGAA, BGI Genomics, F Hoffmann La Roche, Agilent Technologies Inc, Asuragen Inc, Qiagen NV, Takara Bio Inc, LGC Biosearch Technologies, Perkinelmer Inc, Thermo Fisher Scientific Inc, Bio Rad Laboratories Inc, and Fluidigm Corporation are well-known companies thriving in the sequencing reagents market. 

Related Report:

Global Digital Genome Market

The global digital genome market is expected to advance at a CAGR of 9.57% over the estimated period of 2021-2028. 

Digital genomics helps detect the causes of chronic ailments and their treatments. This technology has highlighted a revolt in development-centered research and systems biology, accelerating insight into the multifaceted genetic systems. 

Factors such as the proliferating burden of chronic conditions and government fundings in genomics are driving the studied market’s growth. Additionally, technological advancements and awareness about DNA sequencing technologies across developing economies are opening avenues for the digital genome market. 

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