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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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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