Sequencing Reagents Market is expected to reach US$ 14,195.60 million by 2028

Growing Funding for Genomics Drives Growth of Sequencing Reagents Market

According to our latest market research study on “Sequencing Reagents Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Reagent Type, Technology, Application, and End User,” the market is expected to reach US$ 14,195.60 million by 2028 from US$ 5,530.32 million in 2020; it is estimated to grow at a CAGR of 12.5% from 2020 to 2028. The report highlights the trends prevailing in the market, along with market drivers and deterrents.

Based on technology, the global sequencing reagents market is segmented into next generation sequencing, sanger sequencing, and third generation sequencing. In 2020, the next generation sequencing segment held the largest share in the market. Moreover, the market for the same segment is expected to grow at the highest rate by 2028. Next-generation sequencing is a technique that provides massive parallel decoding of RNA or DNA fragments, based on single molecule sequencing principles or sequencing-by-synthesis. It produces the massive quantities of sequencing data, which can only be analyzed with using dedicated bioinformatics tools. This factor is likely to boost the demand for sequencing reagents across the world during the forecast period.

The factors such as growing funding for genomics, declining cost of sequencing procedures, and increasing prevalence of chronic diseases drive the growth of the global sequencing reagents market. However, the dearth of skilled professionals hinders the market growth.

The COVID-19 pandemic is having the positive impact on the sequencing reagents market. Vaccine for COVID-19 has been developed by several pharmaceutical companies and vaccination has also been started in most of the countries. The genome sequencing has increasingly become an important tool for studying disease outbreaks, which is anticipated to have a positive impact on the other segments of the market in the coming months. On the other side, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth. 

A few prominent players operating in the sequencing reagents market are BGI Group; F. Hoffmann-La Roche Ltd.; Fluidigm Corporation; Illumina, Inc.; LGC Biosearch Technologies; Pacific Biosciences of California, Inc.; Qiagen; Takara Bio, Inc.; Thermo Fisher Scientific, Inc.; and Trilink Biotechnologies.

Market players are launching new and innovative products and services to sustain their position in the sequencing reagents market. For instance, in April 2021, QIAGEN N.V. launched QIAseq DIRECT SARS-CoV-2 Kit, a viral genome enrichment and library preparation solution that significantly reduces library turnaround times and plastics use compared with ARTIC project protocols [primer-based approaches for next-generation sequencing (NGS)].

Sequencing Reagents Market, by Region, 2020 (%)      

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Sequencing Reagents Market to Grow at a CAGR of 12.5% to reach US$ 14,195.60 million from 2020 to 2028

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Sequencing Reagents Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Next Generation Sequencing, Sanger Sequencing, and Third Generation Sequencing); Application (Agrigenomics and Forensics, Clinical Investigation, Oncology, Reproductive Health, and Other Applications); Reagent Type (Control Kits, Library Kits, Template Kits, Sequencing Kits, and Other Reagent Types); End User (Hospitals and Clinics, Research Institutes, Pharmaceutical and Biotechnology Companies, and Other End Users); Geography.

The report segments the global sequencing reagents market as follows:

Sequencing Reagents Market – by Technology

• Next Generation Sequencing
• Sanger Sequencing
• Third Generation Sequencing

Sequencing Reagents Market – by Reagent Type

• Control Kits
• Library Kits
• Template Kits
• Sequencing Kits
• Other Reagent Types

Sequencing Reagents Market – by Application

• Agrigenomics and Forensics
• Clinical Investigation
• Oncology
• Reproductive Health
• Other Applications

Sequencing Reagents Market – by End User

• Hospitals and Clinics
• Research Institutes
• Pharmaceutical and Biotechnology Companies
• Other End Users

Sequencing Reagents Market – by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific (APAC)
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of Middle East & Africa
• South and Central America (SCAM)
  • Brazil
  • Argentina
  • Rest of South and Central America