Inkwood Research estimates that the Global Sequencing Reagents Market is evaluated to project a CAGR of 12.91% in terms of revenue during the forecasting years of 2021-2028.
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Reagents are compounds or substances added to induce a
chemical reaction or to test a reaction. Sequencing is the determination of the
primary structure of an unbranched biopolymer. Sequencing reagents are an
important part of the sequencing reactions.
Key Growth
Driver: Growing Genomics Research due to Chronic Disease Prevalence
Chronic diseases are becoming increasingly prevalent
worldwide. As per the CDC (Centers for Disease Control and Prevention) 2020
data, almost 4 in 10 people had two or more chronic conditions, and around 6 in
10 people in the US had one chronic disease. In addition, twin studies have
stated that genes contribute to chronic conditions like Alzheimer's disease
(AD), cardiovascular diseases (CVDs), obesity, diabetes, depression, and RA.
However, at present, molecular genetic data from genome-wide
association studies (GWAS) have enabled the evaluation of individual-level
risks for such chronic diseases. In addition, cardiovascular diseases like
angina pectoris, acute myocardial infraction, and atherosclerosis are the major
fatal cause globally, given the hectic present-day lifestyles. As a result,
with the fast-paced increase in chronic diseases, genomics research on
life-threatening illnesses has witnessed rapid progress.
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Fastest-Growing
Application: Clinical Investigation
NGS (Next-generation Sequencing) can examine several targets
at once. Thus, it has huge potential application in clinical settings. For
instance, a cancer tumor can have multiple mutations. Multiple assays will be
needed for multiple mutations. For these multiple assays, a huge amount of
tissues will be needed. These targets can be examined with NGS technology in a
single test.
Further, several market players are adopting inorganic and
organic developments for market growth. For example, Illumina was granted
Clinical NGS Platform Reagents registration in Russia in March 2021. Moreover,
technological advancements in reagent kits have propelled the market growth.
Fastest-Growing
Region: Asia-Pacific
There is an increasing demand for third-generation
sequencing (TGS) technologies in the region. Also, the rising adoption of personalized
medicines for disease treatments using genetic information is set to offer
ample growth opportunities. In addition, the pandemic has enabled the
application of genomics in the treatment of COVID-19. Genomics has aided in
understanding the SARS-CoV-2, enabling researchers and governments to track the
emergence of COVID outbreaks.
The strong competitive rivalry in the market is accredited
to various establishments adopting technologically advanced products and
innovative technologies. Agilent Technologies Inc, BGI Genomics, Illumina Inc, Takara
Bio Inc, Thermo Fisher Scientific Inc, etc., are among the key companies in the
market.
About Inkwood Research
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relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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