Sequencing Reagents Market Overview
According to the latest research by Future Market Insights, the Sequencing Reagents market is set to witness steady growth during 2021-2031. Demand for sequencing reagents market will witness steady recovery in the short-term, with an optimistic growth outlook in the long run. The increase in demand for diagnostic and therapeutic application will provide momentum to the industry, however, social and ethical concerns related to sequencing methods is likely to hinder the market growth.
What is Driving Demand for Sequencing Reagents?
Diminishing costs of genetic sequencing and growing levels of adoption for third-generation sequencing techniques is expected to propel the growth of the sequencing reagent market. Third-generation sequencing techniques streamline the workflow and reduce the overall time required for the preparation step. Furthermore, during ligation process and genome fragmentation, it helps to simplify and improves the data quality and overall workflow.
Additionally, the presence of appurtenant government programs has increased the expansion of ordering sequencing in distinguishing the genomic variations related to human diseases. For example, in Gregorian calendar month 2018, NHS European nation, in partnership with the genetics European nation, sequenced a hundred thousand whole genomes from NHS patients to uncover new diagnoses and treatment for patients with cancer and rare inheritable diseases.
Moreover, a rise in funding from public and personal entities has supplemented the expansion of high output technology, later on enhancing demand for his or her various reagents. For example, in March 2018, the German analysis Foundation-funded USD seventeen.3 million to four new German sequencing centres to equip them with NGS technology.
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Advancements in sequencing Techniques Likely to Augment Sequencing Reagents Market
The advancement of technology enables researchers to sequence the entire genome within a short period at a lower cost. Novel technologies like Nanopre and Single-Molecule Real-Time (SMRT) sequencing, have been developed for effective and efficient development of sequencing libraries. This, not to mention the provision of recent commercial kits provides reagents for only a specific sequencing application, which further drives the market to grow.
The COVID-19 pandemic has caused havoc in the entire world. The healthcare crisis has brought an exceptional impact on businesses across all industries. During the outbreak, healthcare industries are hugely impacted due to global restrictions. However, the need for vaccination was the most important factor at the need of the hour. Ongoing research and development for the COVID19 vaccine increased which in turn favoured the growth for sequencing reagents market.
U.S. and Canada Sequencing Reagents Market Outlook
The healthcare system of the U.S. is well-known for its advanced structure and spending. The U.S. has the benefit of catering to leading biotechnology sector market players over other countries and hence dominating the sequencing reagents market. The US sequencing reagents market is set to trend on the historic pattern of bust and boom during the assessment period 2021-2031. The country is home to some of the biggest pharma and biotechnology companies worldwide and is set to expand its business with high returns.
U.S and Canada are one of the largest markets for sequencing reagents globally.
The countries have the highest rate of research and development among all the other countries resulting in a key region for the sequencing reagents market. Furthermore, well-established infrastructure, increasing adoption of novel sequencing technologies, and increasing healthcare expenditure are expected to fuel the sequencing reagents Market in this region.
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Europe Demand Outlook for Sequencing Reagents
Europe’s biotech market attractive to investors: strong hot spots across geographies, modalities, and therapeutic areas; powerhouse research and industry expertise to support basic science and innovation; and an abundance of high-caliber talent and is likely to propel the growth of sequencing reagent market.
Cell and gene therapies (CGTs) and immunotherapies are the fastest-growing areas in the country and make Europe global powerhouse for scientific research in genomics.
Germany and UK are the most leading countries of the Europe region where spending on healthcare infrastructure is likely to be seen high. This creates opportunity for steady demand of sequencing reagent market to boost in long run.
Furthermore, it manufacturers and suppliers is to expand their business through merger and acquisitions and develop advanced technology applications for genomics.
For example, Roche signs definitive merger agreement with GenMark Diagnostics, Inc., to access novel technology to test for broad range of pathogens with one patient sample
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Who are the Key Manufacturers and Suppliers of Sequencing Reagents?
Some of the leading manufacturers and suppliers of Sequencing Reagents include
- Thermo Fisher Scientific, Inc.
- Illumina, Inc.
- QIAGEN
- BGI
- Pacific Biosciences of California, Inc.
- F. Hoffmann-La Roche AG
- Oxford Nanopore Technologies
- Agilent Technologies, Inc.
- Fluidigm Corporation; ArcherDX, Inc.
- Takara Bio Inc.
- Bioline.
Key manufacturers are escalating their business through developments, collaborations and geographic expansions in emerging regions, in March 2019, Agilent Technologies introduced a new library preparation system for NGS technology called Magnis NGS Prep System which was designed to easily assay and complex multiple genes and genetic aberrations from genomic DNA.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Sequencing Reagents Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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