London, UK -- (SBWIRE) -- 03/18/2022 -- According to Triton's Report, the global sequencing reagents market, which gained $5601.6 million in 2020, is likely to observe growth at 12.83% of CAGR by 2028.

A recent study by Triton Market Research titled 'Global Sequencing Reagents Market' includes the Global Analysis and Forecasts by Reagent Type (Control Kits, Library Kits, Sequencing Kits, Template Kits, Other Reagent Types), Application (Agri Genomics and Forensics, Reproductive Health, Clinical Investigation, Oncology, Other Applications), Industry Verticals (Pharmaceutical and Biotechnology Companies, Research Institutes, Hospitals and Clinics, Other Industry Verticals), Technology (Third-Generation Sequencing, Sanger Sequencing, Next-Generation Sequencing), and Geography (North America, Asia-Pacific, Latin America, Europe, Middle East and Africa).

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Triton Market Research's report states that the global sequencing reagents market is estimated to progress at a growth rate of 12.83%, attaining revenue worth $16451.5 million by 2028.

Sequencing reagents are primarily employed in the sequencing process. In addition, they are used for clinical investigation, oncology, reproductive health, and other applications.

The number of older adults suffering from chronic conditions has surged over the past few years globally. Moreover, as per twin studies, genes play a significant role in chronic diseases, including cardiovascular diseases and diabetes. In recent years, molecular genetic data has helped measure individual-level risks of such conditions. Therefore, the growing research in genomics is expected to widen the scope and growth of the sequencing reagents market globally. In contrast, social and ethical problems regarding data privacy and the lack of professionals in developing nations negatively impact the sequencing reagents market's expansion.
The sequencing reagents market is branched into reagent type, application, industry verticals, and technology. The reagent type is sectioned into control kits, library kits, sequencing kits, template kits, and other reagent types. Further, the application section includes Agri genomics and forensics, reproductive health, clinical investigation, oncology, and other applications. Based on industrial verticals, it is divided into pharmaceutical and biotechnology companies, research institutes, hospitals and clinics, and other industry verticals. Lastly, the technology segment is categorized into third-generation sequencing, sanger sequencing, and next-generation sequencing.

Globally, the Asia-Pacific region is anticipated to attain the fastest growth in the sequencing reagents market during the estimated phase. The region's strong growth is predominately owing to a surge in investments by government bodies. Along with this, the increased research and development activities in the field of genomics have enhanced the demand for sequencing reagents. Hence, as mentioned above, these factors supplement the growth of the sequencing reagents market across the APAC region.

Asuragen Inc, Pacific Biosciences of California Inc, Qiagen NV, Trilink Biotechnologies Inc, Fluidigm Corporation, Takara Bio Inc, Illumina Inc, LGC Biosearch Technologies, Perkinelmer Inc, Thermo Fisher Scientific Inc, BGI Genomics, Merck KGAA, Agilent Technologies Inc, F Hoffmann La Roche, and Bio Rad Laboratories Inc are major companies in the sequencing reagents market.

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Question & Answer: Sequencing Reagents Market

Question 1: What factor is expected to widen the scope and growth of the sequencing reagents market globally?

Answer: The number of older adults suffering from chronic conditions has surged over the past few years globally. Moreover, as per twin studies, genes play a significant role in chronic diseases, including cardiovascular diseases and diabetes. In recent years, molecular genetic data has helped measure individual-level risks of such conditions. Therefore, the growing research in genomics is expected to widen the scope and growth of the sequencing reagents market globally.

Question 2: What factors negatively impact the sequencing reagents market's expansion?

Answer: The social and ethical problems regarding data privacy and the lack of professionals in developing nations negatively impact the sequencing reagents market's expansion.

Question 3: Which region is anticipated to attain the fastest growth in the sequencing reagents market?

Answer: Globally, the Asia-Pacific region is anticipated to attain the fastest growth in the sequencing reagents market during the estimated phase. The region's strong growth is predominately owing to a surge in investments by government bodies. Along with this, the increased research and development activities in the field of genomics have enhanced the demand for sequencing reagents. Hence, as mentioned above, these factors supplement the growth of the sequencing reagents market across the APAC region.

Question 4: Which are the major companies in the sequencing reagents market?

Answer: Asuragen Inc, Pacific Biosciences of California Inc, Qiagen NV, Trilink Biotechnologies Inc, Fluidigm Corporation, Takara Bio Inc, Illumina Inc, LGC Biosearch Technologies, Perkinelmer Inc, Thermo Fisher Scientific Inc, BGI Genomics, Merck KGAA, Agilent Technologies Inc, F Hoffmann La Roche, and Bio Rad Laboratories Inc are major companies in the sequencing reagents market.

Related Report:

Global DNA Sequencing Market

The global DNA sequencing market is assessed to showcase growth in its revenue during 2021-2028 at a CAGR of 17.21%. It is estimated to reap revenue worth $35684.5 million by 2028.

The process of stating the nucleic acid sequence is referred to as DNA sequencing. DNA sequencing has led to a model shift in the genomics and molecular biology sectors.

The market's growth is mainly owing to the high prevalence of cancer cases, technological advancements, and applications of DNA sequencing for animal and plant reproduction.

However, challenges relating to DNA sequencing technologies in bioinformatics, lack of professionals in developing countries, and limitations of the technology in diagnostic testing negatively impact the global market's growth.