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The sequencing reagents market share is expected to increase by USD 4.09 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.32%.
This sequencing reagents market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers sequencing reagents market segmentation by technology (next-generation sequencing, sanger sequencing, and third generation sequencing) and geography (North America, Europe, Asia, and Rest of World (ROW)). The sequencing reagents market report also offers information on several market vendors, including Agilent Technologies Inc., BGI Group, BioChain Institute Inc., F. Hoffmann La Roche Ltd., Fluidigm Corp., FroggaBio Inc., Illumina Inc., LGC Biosearch Technologies, Meridian Bioscience Inc, New England Biolabs Inc., Oxford Nanopore Technologies plc, PerkinElmer Inc., QIAGEN NV, Thermo Fisher Scientific Inc., Tecan Group Ltd., Trilink Biotechnologies, Merck KGaA, Pacific Biosciences of California Inc., and Takara Bio Inc. among others.
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The increasing affordability of DNA sequencing is notably driving the sequencing reagents market growth, although factors such as inadequate resources for DNA sequencing in developing countries may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the sequencing reagents industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Sequencing Reagents Market Driver
The increasing affordability of DNA sequencing is one of the key drivers supporting the sequencing reagents market growth. In the past, the cost structure for sequencing reagents involved a lot of ambiguity as it was measured in terms of $/base, which made it unclear if the cost included the different steps involved in sequencing or just the sequencing run. Thus, as a solution to this problem, a new all-inclusive approach was developed. This all-inclusive cost structure includes the cost of components, direct costs, and indirect costs associated with a sequencing project. This approach provides better insights into the cost structure of a sequencing project and aids end-users and funding agencies in improving their research plans. These factors are likely to make DNA sequencing more accessible and affordable to a much larger population, which, in turn, is expected to drive the global sequencing reagents market during the forecast period.
Key Sequencing Reagents Market Trend
Advances in next-generation sequencing techniques is another factor supporting the sequencing reagents market growth. The rising number of research activities and discoveries in genetic testing for determining genetic variants has enabled the vendors, such as Bio-Rad Laboratories and Eurofins, to offer a wide variety of prediction tests for blood sugar regulation, cancer, vision loss, and autoimmune disorders is boosting the demand for sequencing reagents. In addition, the widespread adoption of DNA biochips in genetic testing and research, owing to its integration and miniaturization benefits, has accelerated the identification of 78,000-80,000 genes in human DNA. This has been done by enabling the performance of DNA microarray tests and gene decoding-based biological reactions using a single chip. The development of such advanced technologies has helped to reduce the cost of testing as well as the turnaround time. Such technologies are driving market growth.
Key Sequencing Reagents Market Challenge
The inadequate resources for DNA sequencing in developing countries is one of the factors hindering the sequencing reagents market growth. DNA sequencing is an interdisciplinary field that requires knowledge in bioinformatics, chemistry, and biology. Hence, workers who perform DNA sequencing need specialized training in this field. However, limited human development and education capacities in developing countries lead to insufficient training. Furthermore, genomic data analysis and manipulation have become essential tools for genomic research. Even though some tools are distributed under open-source licenses, the use of many advanced tools still requires the payment of licensure fees, which are often beyond the financial capabilities of many institutions in developing countries. Hence, the availability of limited resources such as sequencing reagents for DNA sequencing in developing countries is a major challenge for market growth.
This sequencing reagents market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global sequencing reagents market as a part of the global life science tools and services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the sequencing reagents market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the sequencing reagents market encompasses successful business strategies deployed by the key vendors. The sequencing reagents market is fragmented and the vendors are deploying growth strategies such as pricing strategies and low-cost customization options to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The sequencing reagents market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the sequencing reagents market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for sequencing reagents market in North America. Market growth in this region will be faster than the growth of the market in ROW.
The increased focus on gene therapy and national initiatives in developing personalized medicines will facilitate the sequencing reagents market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 adversely affected the market in North America. As of November 19, 2021, several countries in North America were compelled to impose lockdowns to contain the spread of the disease. However, assessing the core next-generation sequencing features in regional populations can be used for comparative analysis to identify unique features of SARS-CoV-2 and assist in epidemiologic and public health endeavors. Such factors have increased the demand for next-generation sequencing products and services such as sequencing reagents in the region in 2021, which, in turn, is expected to drive the regional market growth
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The sequencing reagents market share growth by the next-generation sequencing segment will be significant during the forecast period. Next-generation sequencing, fragments a high-throughput sequencing, is a powerful platform that enables simultaneous sequencing of millions of deoxyribonucleic acid (DNA) fragments. The advent of the next-generation sequencing market has revolutionized research across various fields by offering sequencing with high-speed, low-cost, and shorter turnaround times when compared to sanger sequencing. The demand for sequencing reagents in next-generation sequencing is growing due to the effectiveness of next-generation sequencing. Hence, their demand is expected to grow during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the sequencing reagents market size and actionable market insights on post COVID-19 impact on each segment.
Blood-grouping Reagents market - The market share is expected to increase by USD 485.33 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.19%.
DNA Sequencing market - The market share from 2021 to 2026 is USD 23.56 billion at a progressing CAGR of 20.85%.
Sequencing Reagents Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.32% |
Market growth 2022-2026 |
$ 4.09 billion |
Market structure |
Fragmented |
YoY growth (%) |
11.54 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Agilent Technologies Inc., BGI Group, BioChain Institute Inc., F. Hoffmann La Roche Ltd., Fluidigm Corp., FroggaBio Inc., Illumina Inc., LGC Biosearch Technologies, Meridian Bioscience Inc, New England Biolabs Inc., Oxford Nanopore Technologies plc, PerkinElmer Inc., QIAGEN NV, Thermo Fisher Scientific Inc., Tecan Group Ltd., Trilink Biotechnologies, Merck KGaA, Pacific Biosciences of California Inc., and Takara Bio Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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