The global sequencing reagents market size is expected to reach USD 12.6 billion by 2026, expanding at a CAGR of 13.7% during the forecast period, according to a new report by Grand View Research, Inc. Emergence of advanced and rapid high-throughput technologies, such as next-generation sequencing (NGS) and third-generation sequencing (TGS), for use in clinical applications provides lucrative growth avenues.
Moreover, a confluence of factors such as advent of targeted therapies in oncology and other clinical fields, development of companion diagnostics and precision medicine, and a significant reduction in the cost of genetic sequencing has increased the installation of NGS platforms throughout the globe. This, in turn, positively influences revenue generation for the market.
A substantial number of companies are using high-throughput technologies for drug discovery, which demands the use of genetic sequencing technologies. In addition, the application of NGS to accelerate early identification of autoimmune disorders is expected to drive the market. Moreover, parallel innovations in biomedical sciences have contributed to the growth of the NGS market.
Players in the industry are focused on in-depth research and development of new and effective reagents to stay ahead in the market. For instance, in October 2018, F. Hoffmann-La Roche AG introduced three NGS AVENIO Tumor Tissue Analysis Kits for detection of mutation in tumors. Similarly, in October 2019, QIAGEN launched an RNA-seq library preparation kit called QIAseq FastSelect RNA Removal Kit, designed for NGS. Companies are also expanding their businesses and setting up new facilities across the globe to gain a stronger foothold. For instance, in January 2019, BGI’s subsidiary, MGI, installed 1,000 sequencers in 16 countries and opened an early access program for MGISEQ-T7 sequencer.
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Sequencing Reagents Market Report Highlights
• The NGS technology-based reagents segment accounted for the largest share and is expected to maintain its dominance over the forecast period. This is attributive to the fact that NGS is an extensively used technology for population-scale analyses of single nucleotide and other small variants
• The advent of single-molecule sequencing technologies for the analysis of larger structural variations will drive the TGS segment to exhibit the highest CAGR
• By reagent type, sequencing kits accounted for the largest revenue share in 2018 as they are offered by a significant number of companies. Development of library kits that contain a tracking dye to easily and quickly visualize the progression of library preparation will drive the segment to register the fastest growth
• Based on application, oncology held the lead position in 2018. Constant efforts adopted by market participants to expand the application of sequencers and reagents in cancer detection and diagnosis has propelled this segment
• Implementation of high-throughput technologies for infectious disease surveillance provides high-resolution data to distinguish pathogen strains. Consequently, this increases the adoption rate of sequencing technologies to deliver rapid results and high-quality data related to clinical investigation, resulting in the segment’s growth
• Academic research held the dominant share in 2018 by way of end use. Wide application of sequencing methodologies in bioinformatics courses, Ph.D. programs, and workshops has driven this segment. Clinical research is expected to register the fastest growth rate owing to availability of clinical research solutions by key entities for detection and screening of disease-related variants
• North America dominated the global market in terms of revenue generation due to the presence of prominent players and funding programs. Asia Pacific is poised to witness the fastest growth owing to constant developments adopted by regional players for technological integration of high-throughput methodologies
• Key vendors are adopting strategic growth initiatives such as mutually beneficial partnerships, collaborative models, product developments, and regional expansion to reinforce their market presence.
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Sequencing Reagents Market Segmentation
Grand View Research has segmented the global sequencing reagents market on the basis of technology, reagent type, application, end use, and region:
Sequencing Reagents Technology Outlook (Revenue, USD Million, 2015 – 2026)
• Sanger Sequencing
Sequencing Reagent Type Outlook (Revenue, USD Million, 2015 – 2026)
• Library Kits
• Template kits
• Control Kits
• Sequencing Kits
Sequencing Reagents Application Outlook (Revenue, USD Million, 2015 – 2026)
• Reproductive Health
• Clinical Investigation
• Agrigenomics & Forensics
Sequencing Reagents End-use Outlook (Revenue, USD Million, 2015 – 2026)
• Academic Research
• Clinical Research
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
Sequencing Reagents Regional Outlook (Revenue, USD Million, 2015 – 2026)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
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About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
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