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.
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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.
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.
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.
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