Sequencing Reagents Market - Sequencing Kits Segment is expected to retain its dominance over the forecast Period
Sequencing of DNA is a procedure to determine nucleic acid sequence in a DNA i.e. the order of nucleotides. Process involves sequence identification of DNA bases namely cytosine, thymine, adenine and guanine. DNA sequencing is an important tool for various research applications such as genomics, proteomics, evolutionary biology, drug discovery, forensics, molecular biology, metagenomics, precision medicine, etc. Sequencing tools are also useful in therapeutic applications such as genetic disorders, infectious diseases, cancer etc.
The global sequencing reagents market growth is fueled by various factors such as increasing genomics research and development activities and preparation of sequencing libraries. Also, government initiatives to support sequencing research, decrease in genetic sequencing cost, growth in partnerships and collaborations for genomic sequencing research and high unmet medical needs support the growth of sequencing research which in turn is expected to boost the demand for sequencing reagents. However, social and ethical issues associated with sequencing and end user budget limitations in emerging economies may impede the sequencing reagents market growth over the forecast period.
Zion Market Research has published a new report titled “Sequencing Reagents Market by Type (Sequencing Kits, Control Kits, Template Kits, Library Kits and Others); By Technology (Third Generation Sequencing, Next Generation Sequencing and Sanger Sequencing); by Application (Agrigenomics & Forensics, Clinical Investigation, Reproductive Health, Oncology and Other Applications); By End User (Pharmaceutical & Biotechnology Companies, Academic and Research Institutes & Clinics, Academic and Research Institutes and Other End Users): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for sequencing reagents market was valued at approximately USD 3.97 billion in 2018, and is expected to generate revenue of around USD 10.06 billion by end of 2025, growing at a CAGR of around 14.3% between 2018 and 2025.
The global sequencing reagents market is categorized based on type, application, end user and region. Based on type, market is bifurcated into control kits, sequencing kits, library kits, template kits and others. In 2018, sequencing kits segment dominated the market with largest revenue share and is expected to retain its dominance over the forecast period. This large share of sequencing kits segment is due to availability of key high throughput platforms like MinION, PGM, MiniSeq, MiSeq, iSeq, NextSeq, etc. Over the forecast period, library kits segment is projected to register rapid growth owing to continuous efforts to develop and enhance library preparation.
Based on applications, global sequencing reagents market is categorized into clinical investigation, agrigenomics & forensics, oncology, reproductive health, and other applications. Oncology was the largest application segment in 2018 owing to increasing use of reagents for diagnostics and therapeutic cancer clinical research and development and growing cancer prevalence. Rapid growth is projected for clinical investigation application segments over the forecast period.
Based in technology market is segmented into next generation sequencing (NGS), Sanger sequencing and third generation sequencing. Strong potential of NGS technology in various applications such as personalized medicine, in-vitro diagnostics, and companion diagnostics has caused wide adoption of NGS and thus contribute to the largest market share.
Pharmaceutical & biotechnology companies, hospitals & clinics, academic and research institutes and others are end users of the market. Academic and research institutes ware largest end users in 2018. Pharmaceutical & biotechnology company end user segment is projected to witness rapid growth in the coming years.
At regional level, North America held largest revenue share in 2018 for the global sequencing reagents market. Strong commercial sales, government funds and increasing research activities on sequencing are prominent factors that support the growth in this region. Europe was second leading regional market for sequencing reagents market in terms of revenue. Growing public, private and government investments on sequencing research, availability of developed R&D infrastructure, and increasing chronic disease burden are major factors that fuel market growth in this region. Asia Pacific region is projected to be fastest growing market for sequencing reagents. Focus of major market players on growth opportunities and business expansion in emerging markets, economic development, healthcare infrastructure improvement, increasing spending on R&D are important factors attributing to the rapid growth in this region. Latin America will experience moderate growth in the coming years. Middle East and Africa will register slower growth in the years to come.
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Major players in sequencing reagents market are Oxford Nanopore Technologies, Agilent Technologies, Inc., Pacific Biosciences of California, Inc., F. Hoffmann-La Roche AG, QIAGEN, BGI, Thermo Fisher Scientific, Inc., Illumina, Inc., Fluidigm Corporation, Takara Bio Inc., Bioline, and ArcherDX, Inc., among others.
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