According to the report, global demand for sequencing reagents market was valued at approximately USD 3.97 billion in 2018, and is expected to generate revenue of around USD 10.06 billion by end of 2025, growing at a CAGR of around 14.3% between 2018 and 2025.
The report covers forecast and analysis for the sequencing reagents market on a global and regional level. The study provides historic data from 2016 along with forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the sequencing reagents market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the sequencing reagents market on a global as well as regional level.
In order to give the users of this report a comprehensive view on the sequencing reagents market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the sequencing reagents market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new type launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the sequencing reagents market on global and regional basis.
The study provides a crucial view on the sequencing reagents by segmenting the market based on type, application, end user and region. All the segments of sequencing reagents market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
DNA sequencing is a procedure to determine the order of nucleotides i.e. nucleic acid sequence in a DNA. The process involves identifying sequence of four DNA bases namely thymine, cytosine, guanine and adenine. DNA sequencing is important in various research applications including proteomics, genomics, drug discovery, evolutionary biology, forensics, precision medicine, metagenomics, molecular biology etc. DNA sequencing can also be used in various diagnostic applications as well as therapeutic applications including cancer, infectious diseases, genetic disorders etc.
The demand for sequencing reagents market is driven by increasing research and development activities on genomics research, preparation of sequencing libraries. Additionally, decrease in genetic sequencing cost, government initiatives to support sequencing research, growth in collaborations and partnerships for research on genomic sequencing; high unmet medical needs drive the demand for sequencing research which in turn drives the demand for sequencing reagents. However, end user budget limitations in emerging economies may hinder the market growth.
Based on type, global sequencing reagents market is bifurcated into sequencing kits, control kits, template kits, library kits and others. Sequencing kits segment accounted for largest market share in 2018 and is expected to retain its dominance over the forecast period. This large share is attributed to availability of major high throughput platforms including NextSeq, iSeq, MiSeq, MiniSeq, PGM, MinION etc. Library kits segment is expected to register highest growth over the forecast period due to continuous developments enhancing library preparation.
Based on applications market is segmented into agrigenomics & forensics, clinical investigation, reproductive health, oncology and other applications. oncology application segment held dominating market share in 2018 due to growing use of reagents for cancer diagnostics and therapeutic clinical research and development and increasing prevalence of cancer. Clinical investigation application segments will witness highest growth rate over the forecast period.
Based in technology market is segmented into third generation sequencing, next generation sequencing (NGS) and Sanger sequencing. Strong potential of NGS technology for use in in-vitro diagnostics, personalized medicine, companion diagnostics has led to their greater adoption and thus accounted for the largest market share in 2018.
The end user segment of the sequencing reagents market is divided into pharmaceutical & biotechnology companies, hospitals & clinics, academic and research institutes and other end users. Academic and research institutes ware largest end users in 2018. Pharmaceutical & biotechnology company end user segment is projected to witness rapid growth in the coming years.
North America dominated the global sequencing reagents market in 2018. Strong commercial sales, increasing research activities on sequencing, government funds are major factors driving the growth in this region. Europe was second largest regional market in terms of revenue share. Presence of developed R&D infrastructure, increasing public, private and government investments on sequencing research, and increasing chronic disease burden are some of factors that boost market growth in this region. Asia Pacific region will be the rapidly growing market for sequencing reagents. Focus of major market players on growth opportunities and business expansion in emerging markets, economic development, healthcare infrastructure improvement, increasing spending on R&D are important factors attributing to the rapid growth in this region. On the other hand Latin America will experience moderate growth in the coming years. Middle East and Africa will register slower growth in the years to come.
Major players in sequencing reagents market are Agilent Technologies, Inc., Oxford Nanopore Technologies, F. Hoffmann-La Roche AG, Pacific Biosciences of California, Inc., BGI, QIAGEN, Illumina, Inc., Thermo Fisher Scientific, Inc., Fluidigm Corporation, Bioline, Takara Bio Inc., and ArcherDX, Inc., among others.
The report segment of global sequencing reagents market as follows:
Global Sequencing Reagents Market: By Type
Global Sequencing Reagents Market: By Technology
Global Sequencing Reagents Market: By Application
Global Sequencing Reagents Market: By End User
Global Sequencing Reagents Market: By Region