Global Sequencing Reagents Market | Trends, Growth

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The Global Sequencing Reagents Market to Propel
at CAGR of 12.83 by 2028
Triton Market Research presents the Global
Sequencing Reagents Market segmented by Reagent
Type (Library Kits, Sequencing Kits, Template
Kits, Control Kits, Other Reagent Types),
Application (Agri Genomics and Forensics,
Oncology, Reproductive Health, Clinical
Investigation, Other Applications), Industry
Verticals (Hospitals and Clinics, Research
Institutes, Pharmaceutical and Biotechnology
Companies, Other Industry Verticals), Technology
(Sanger Sequencing, Next-Generation Sequencing,
Third-Generation Sequencing), and by Geography
(Middle East and Africa, North America, Europe,
Asia- Pacific, Latin America). The report also
discusses the Market Summary, Industry Outlook,
Impact of COVID-19, Key Insights, Porters Five
Forces Analysis, Supply Chain Outlook, Market
Attractiveness Index, Vendor Scorecard, Key
Strategic Developments, Drivers, Challenges,
Opportunities, Competitive Landscape, Research
Methodology Scope, Global Market Size,
Forecasts Analysis (2021-2028). Based on
Tritons report, the global sequencing reagents
market is evaluated to witness growth at a CAGR
of 12.83 over the forecast period 2021-2028.
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Sequencing reagents are mainly used during
sequencing procedures. This market is witnessing
growth globally due to a surge in cancer and
autoimmune diseases, reduction in genetic
sequencing costs, and development of the
biotechnology industry. In the recent past,
genomic sequencing has been increasingly used in
clinical practice. Moreover, as per the
Australian Genomics Health Alliance, genomic data
from over 60 million patients is estimated to be
generated over the next few years. Additionally,
the national genomic-medicine initiatives have
led to transformative change in real-life
conditions. Along with this, several government
bodies are supporting genomic sequencing,
creating immense growth opportunities for the
sequencing reagents market. In contrast, social
and ethical issues related to data privacy and
the lack of professionals across developing
countries impede the overall development of the
sequencing reagents market. Globally, North
America holds the largest market for sequencing
reagents. This robust growth is predominantly
owing to the surge in demand for gene synthetic
techniques from biopharmaceutical and
biotechnology companies. Other than this, the
extensive research development activities
undertaken by academic and research institutes
have created opportunities for the sequencing
reagents market across the region. The key
companies in the sequencing reagents market are
Trilink Biotechnologies Inc, Agilent Technologies
Inc, Asuragen Inc, Merck KGAA, Pacific
Biosciences of California Inc, Fluidigm
Corporation, Bio Rad Laboratories Inc,
Perkinelmer Inc, F Hoffmann La Roche, Takara Bio
Inc, BGI Genomics, LGC Biosearch Technologies,
Qiagen NV, Illumina Inc, and Thermo Fisher
Scientific Inc. Lucrative growth opportunities
due to the pandemic are anticipated to drive the
entry of new players in the studied market.
However, stringent regulation and the high cost
of scaling can restrict the entry of new
companies. Furthermore, several established
companies, such as Illumina and Thermo Fisher
Scientific, are dominating the market.
Additionally, many have adopted innovative
technologies to expand footings in the market.
Hence, considering these factors, the threat of
new entrants is likely to be moderate, which the
competition levels among existing players are
expected to be high over the forecasted period.
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