PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485780
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485780
Sequencing Reagents Market size was valued at USD 6,920.43 Million in 2023, expanding at a CAGR of 7.82% from 2024 to 2032.
Sequencing reagents are essential components used in DNA sequencing procedures. These reagents facilitate the accurate determination of the order of nucleotides in a DNA molecule. Common sequencing reagents include polymerase, primers, nucleotides, buffer solutions, enzymes etc. Increasing adoption of sequencing in various fields like healthcare, agriculture, forensics, and environmental studies fuels the demand for sequencing reagents. However, privacy issues, ethical dilemmas, and regulatory hurdles associated with genetic data collection and analysis can hinder market growth. Furthermore, exploring new applications of sequencing technology, such as single-cell sequencing or spatial transcriptomics, can lead to the development of specialized reagents and drive market growth.
Sequencing Reagents Market- Market Dynamics
Increasing Demand for Third-Generation Sequencing
The increasing demand for Third Generation Sequencing (TGS) technologies, such as Single Molecule Real-Time (SMRT) sequencing and Nanopore sequencing, has a significant impact on the sequencing reagents market. TGS technologies are capable of producing longer sequencing reads compared to SGS methods. To facilitate the effective development of a breakthrough technology that uses a person's DNA to diagnose hereditary illnesses, the U.S. Food and Drug Administration finalized two guidelines. The guidelines offer guidance on how to design, develop, and validate tests that make use of next-generation sequencing (NGS) technology, which is expected to significantly contribute to the ongoing progress of personalized, genetic-based medicine.
Sequencing Reagents Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.82% over the forecast period (2024-2032)
Based on type segmentation, sequencing kits was predicted to show maximum market share in the year 2023
Based on application segmentation, the clinical investigation was the leading type in 2023
Based on reagent segmentation, DNA polymerase reagent was the leading type in 2023
Based on technology segmentation, next-generation sequencing was the leading type in 2023
Based on end user segmentation, clinical research was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Sequencing Reagents Market is segmented on the basis of Type, Application, Reagent, Technology, End User, and Region.
The market is divided into three categories based on technology: Next Generation Sequencing, Sanger Sequencing, and Third Generation Sequencing. Next Generation Sequencing (NGS) relies heavily on sequencing reagents to facilitate the accurate and efficient determination of nucleotide sequences. This is crucial for applications such as genome assembly, variant detection, and mutation analysis.
The market is divided into four categories based on application: Clinical Investigation, Oncology, Forensics & Agrigenomics, and others. Sequencing reagents enable the detection of even low levels of genetic variations or mutations, which is crucial for identifying disease-causing variants or monitoring treatment responses. Sequencing reagents play a vital role in advancing clinical investigations by providing accurate, sensitive, and comprehensive analysis of genetic information.
Sequencing Reagents Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The United States and Europe have been major players in the sequencing reagents market due to their advanced biotechnology and pharmaceutical industries, strong research institutions, and significant investment in genomics research. The Asia-Pacific region, particularly countries like China, Japan, and India, has been rapidly growing in importance in the sequencing reagents market. This growth is fueled by increasing research and development activities, government initiatives supporting genomics research, and the presence of a large population base for clinical trials and diagnostics.
The prominent players in the sequencing reagents market include Thermo Fisher Scientific, Inc., Illumina, Inc., QIAGEN, BGI and F. Hoffmann-La Roche AG etc. These companies compete in a rapidly evolving market, characterized by technological advancements, pricing pressures, and the increasing adoption of sequencing in diverse fields such as healthcare, agriculture, and environmental science. Continuous innovation, product quality, and customer support are crucial factors driving competitiveness in the sequencing reagents market. Thermo Fisher Scientific is a major player in the life sciences industry, offering a wide range of products and services including sequencing reagents. Thermo Fisher has a strong presence in both research and clinical settings and is known for its robust and reliable products. BGI offers sequencing reagents, instruments, and services for a wide range of applications, including research, clinical diagnostics, and agriculture.
In August 2023, Illumina Inc, a global leader in DNA sequencing and array-based technologies, announced the opening of a new office and state-of-the-art Illumina Solutions Center in Bengaluru, India. Expanding access to genomics in this important market will help unlock opportunities for advancing health care and combating the effects of climate change in South Asia.
SCOPE OF THE REPORT
GLOBAL SEQUENCING REAGENTS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
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.
Others