Fort Collins, Colorado, Dec. 04, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Sequencing Reagents Market size was valued at USD 7.4 Billion in 2022 and is anticipated to be valued USD 29.2 Billion by 2032 at a CAGR of 14.8%.
The growing importance of genome sequencing for various diseases is leading to increased support from government and private institutes for large-scale sequencing. Several countries are investing in national population sequencing programs to comprehend the connection between genetics and illnesses. The scientific organizations sequence millions of genomes to accelerate further understanding and provide more effective methods for detecting and treating cancer.
The market is growing due to benefits from the ongoing advancements in sequencing for delivering greater throughput data for extensive genomic research. Researchers can now quickly and cost-effectively sequence the complete genome owing to the development of breakthrough technologies like Single-Molecule Real-Time (SMRT) sequencing and Nanopore, which make it possible to prepare sequencing libraries efficiently and effectively. This promotes the market's advancement, along with new commercial kits offering reagents for certain sequencing applications.
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Segmentation Overview:
The global sequencing reagents market has been segmented into reagent type, technology, application, end-user, and region. The library kit segment is expected to expand at a positive CAGR during the forecast period. The sequencing kits segment held the largest market share and accounted for a revenue share of 13.3% in the sequencing reagent market in 2022. North America accounted for the largest market share and held a revenue share of 47.1% in the sequencing reagents market in 2022. The strong focus of the pharmaceutical companies on developing precision and personalized therapies, along with the launch of large-scale genome sequencing projects and reimbursement and approval policy developments for NGS-based diagnostic tests, are expected to increase the demand for sequencing reagents.
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Sequencing Reagents Market Report Highlights:
- The global sequencing reagents market growth is anticipated at a CAGR of 14.8% by 2032.
- The increasing clinical application of genome sequencing (GS) is a major factor contributing to market growth. Generation sequencing (GS) is used in diagnosing various illnesses, such as cancer, hematological disorders, neurology, psychiatry, dysmorphology, vision and hearing impairment, cardiology, pharmacogenomics, and non-invasive prenatal tests.
- Based on application, the market is sub-segmented into oncology, reproductive health, clinical investigation, agri-genomics & forensics, and others.
- Based on end-use, the market is further categorized into academic research, clinical research, hospitals & clinics, pharmaceutical & biotechnology companies, and others.
- Some prominent players in the sequencing reagents market report include Qiagen NV, Pacific Biosciences of California, Inc., Thermo Fischer Scientific, Inc., Fluidigm Corporation, ArcherDX Inc., BGI Ltd., Illumina Inc., Agilent Technologies Inc., Oxford Nanopore Technologies, and Hoffmann-La Roche Ltd. among others.
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Industry Trends and Insights:
- In September 2023, Telesis Bio Inc., an automated multi-omic and synthetic biology solutions manufacturer, commercially launched its BioXp® NGS Library Prep kit for Whole Genome Sequencing (WGS) on BioXp 3250 and BioXp 9600 systems.
- In June 2023, Qiagen launched QIAseq Normalizer Kits. These kits provide researchers with a quick, convenient, and economical way to pool different DNA libraries for superior-quality results from next-generation sequencing runs.
Sequencing Reagents Market Segmentation:
By Reagent Type: Library kits, template kits, control kits, sequencing kits, others.
By Technology: Sanger sequencing, next-generation sequencing, third-generation sequencing.
By Application: Oncology, reproductive health, clinical investigation, agrigenomics & forensics.
By End-user: Academic research, clinical research, hospitals & clinics, pharmaceutical & biotechnology companies, and others.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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