Sequencing reagents are used during the process of sequencing. The use of these reagents highly depends on the desired result to be obtained. They form an essential part of the sequencing reactions, which can be used across various other applications as well. An increase in R&D activities worldwide is expected to drive the growth of the market during the forecast period.
The global sequencing reagents market size was valued at USD 4.5 billion in 2027 and is expected to register a CAGR of +13% over the forecast period.
The market is benefitted by constant developments in sequencing technologies to provide higher throughput data for large-scale genomic research. The development of novel technologies, such as Nanopore and Single-Molecule Real-Time (SMRT) sequencing, for efficient and cost-effective preparation of sequencing libraries, enable researchers to sequence the entire genome within a short period at a lower cost. This, coupled with the availability of new commercial kits providing reagents for specific sequencing applications, drives the market progression.
Major Key Players are F. Hoffmann-La Roche AG, Illumina, Inc, Thermo Fisher Scientific, Oxford Nanopore Technologies, Agilent Technologies, Inc., BGI, Bioline, Qiagen, Takara Bio Inc., and Fluidigm Corporation.
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The sequencing reagents market is anticipated to grow in the forecast, owing to growth in the biotechnology industry coupled with the rise in government initiatives made leading to increase in R&D activities. In addition, the rise of specialized therapies in medical disorders such as oncology and autoimmune diseases is expected to offer significant growth opportunities in the market during the forecast period.
Future Growth Expectations
The global Sequencing Kits and Reagents market is anticipated to rise at a considerable rate during the forecast period, between 2021 and 2027. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Key Market Trends
Next Generation Sequencing (NGS) Estimated to Witness Healthy Growth
Next-generation sequencing (NGS) is estimated to witness healthy growth in the future attributed to increasing adoption of several applications such as molecular pathology, molecular diagnostics, and other clinical research applications. The all in one and deep sequencing approach offered by NGS will minimize the time required to identify the root of the condition and help in determining novel or rare variants. Moreover, the use of next-generation sequencing technologies in personalized medicines, companion diagnostic and in-vitro diagnostics led to high adoption compared to others and promotes the segment growth.
In Addition, as per Pharmaceutical Research & Manufacturer of America, biopharmaceutical research & development expenditure has been rising from past years, driving the sequencing reagents market in the forecasted period.
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Sequencing Kits and Reagents Market Segmentation
The sequencing reagents market is segmented on the basis of reagent type, technology, application, and end user.
- By reagent type – The market is segmented as, control kits, library kits, template kits, sequencing kits, and other reagent types.
- By technology– The market is segmented as, next generation sequencing, Sanger sequencing and third generation sequencing.
- By Application– The market is segmented as agrigenomics & forensics, clinical investigation, oncology, reproductive health, and other applications.
- By end user – The market is segmented as, hospitals & clinics, research institutes, pharmaceutical & biotechnology companies, and other end users.
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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