The global Sequencing Reagents market size was estimated to be US$ 6.5 billion in 2021 and is expected grow at a CAGR of 12.5% between 2023 to 2032.
Substances and chemicals that are required during the genomic sequencing protocols are called sequencing reagents. Sequencing reagents, therefore, consist of a multitude of chemicals with functions ranging from initiation of detection of the DNA segment to sustenance of DNA fragmentation until its termination. Because the reagents are composed of a diverse group of chemical compounds, they have separate synthesis and maintenance protocols.
Technological advancements in the field of protein and DNA sequencing and the reduced cost of these services have led to an increase in the utilization of such techniques and subsequently enabled the growth of the global sequencing reagents market. Rising levels of research and development initiatives increased funding for research institutes, and the general adoption of such services in corporate research has also enabled faster growth in the sequencing reagents market.
Factors enabling growth of sequencing reagents market:
The next-generation sequencing (NGS) platforms have the highest market share of sequencing services, and this can be attributed to it being common practice for molecular diagnostics, molecular pathology, and clinical research applications. NGS is affordable, simple, and quicker compared to the older generation of sequencing techniques which has resulted in its widespread use in clinical research and disease diagnostics. Moreover, the deeper sequencing features of NGS enable better discovery of rare and novel gene variations.
NGS technology has also enabled personalized medication research and development which enables better in-vitro diagnosis of rare and complex diseases and thus has a wider acceptance in this sector as well. Due to all the mentioned benefits and uses, NGS is anticipated to grow substantially in the forecast period, and therefore the sequencing reagents market for NGS may also see positive growth in this period.
Sequencing technology is also enabling a better understanding of cancer and its causative pathways. NGS is positively influencing the analysis of tumour transcriptome and epigenetic factors of oncology, better detection of cancerous cells, and tumour stratification in cancer patients.
New clinical trials and genetic vulnerability testing protocols are seeing the increased implementation of NGS and other sequencing tools. Therefore, a growing demand for sequencing methods in cancer treatments has increased the growth of the sequencing reagent market across the globe.
Pathogen identification
Pathogen research by high-throughput techniques and bioinformatics has provided deeper insights into infection pathways, antimicrobial resistance, virulence, and disease transmission of several causative agents. The increased adoption of NGS and bioinformatics-based methodologies in disease diagnosis has also enabled the growth of the sequencing reagents market indirectly.
Third Generation Sequencing (TGS) is a new-age sequencing standard that provides reliable and faster processing compared to NGS and older methods. With the emergence of third-generation sequencing tools and techniques novel use cases can be achieved which will ensure sustained growth of the sequencing and sequencing reagents market during the forecast period.
Novel techniques like Nanopore and Single-Molecule Real Time (SMRT) sequencing methods help the generation of sequencing libraries that can help in an overall faster and more efficient sequencing process.
Furthermore, these libraries can also help in resequencing the genome with better efficiency compared to old-generation techniques. Overall data quality, simpler workflow, and reduction in genome fragmentation are some of the features of TGS that warrant its increased adoption in fields of biomedical research and sciences.
Supportive Government initiative act as an opportunity for the market growth
The reduction in the cost of genetic sequencing will also boost its use in commercial and clinical sectors which is anticipated to bring in large volumes of revenue for the sequencing reagents market within the forecasted period. Also, the increased acceptance of sequencing-based diagnostics due to government initiatives is expected to further the progression of the market for sequencing services, and sequencing reagent sales will also see a rise.
COVID-19 impact
The covid-19 pandemic has brought a crisis in various fields owing to its negative impact on non-essential medical procedures and the global supply chain disruptions. However, an increase in research initiatives for drugs and vaccines against covid-19 ensured a smooth growth of the sequencing reagents market in 2020-2021. Therefore, the pandemic brought positive growth in this sector which is expected to grow further in the next few years.
Even though the above-mentioned reasons suggest continuous and progressive growth of the sequencing reagents market, certain factors may still obstruct its growth in the coming years. Social and ethical concerns related to genomics and proteomics research, genomic data regulations, and a stagnation in innovation in sequencing techniques may be major factors that affect the pace of growth in sequencing and turn the sequencing reagents market.
Regional segmentation of sequencing reagents market:
During the forecast period, North America is expected to dominate the sequencing reagents market in terms of share and revenue. The presence of major players, well-established market and better economies in this region are major reasons for the sustained growth of the sequencing reagents market. Asia-Pacific region is now expected to show the highest growth rate for sequencing as well as the sequencing reagents market during the forecast period. Such high growth rates are expected due to the development of better and more affordable technologies.
Prominent active companies in the sequencing reagents market
Major players involved in the sequencing market are Avantor, Inc., Agilent Technologies, Inc., BioChain Institute Inc., BioLegend, Inc., FroggaBio Inc., F. Hoffmann-La Roche Ltd, Fluidigm Corporation, Illumina, Inc., LGC Limited, Meridian, Merck KGaA, Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, QIAGEN, Pacific Biosciences of California, Inc., New England Biolabs, TriLink BioTechnologies, Tecan Trading AG, Takara Bio Inc., and others.
Market Segmentation:
By Technology
By Reagent type
By Geography
Substances and chemicals that are required during the genomic sequencing protocols are called sequencing reagents. They have functions for initiation/detection of the DNA segment, sustenance of DNA fragmentation, and reaction termination.
The covid-19 pandemic brought positive growth in this sector which is expected to grow further in the next few years.
The sequencing reagents market size was estimated to be US$ 6.5 billion in 2021.
The global sequencing reagents market is estimated to exhibit a CAGR of 12.5% between 2023 to 2032.
The next-generation sequencing (NGS) platforms have the highest market share of sequencing services, and this can be attributed to it being common practice for molecular diagnostics, molecular pathology, and clinical research applications.
Major players involved in the sequencing market are Avantor, Inc., Agilent Technologies, Inc., BioChain Institute Inc., BioLegend, Inc., FroggaBio Inc., F. Hoffmann-La Roche Ltd, Fluidigm Corporation, Illumina, Inc., LGC Limited, Meridian, Merck KGaA, Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, QIAGEN, Pacific Biosciences of California, Inc., New England Biolabs, TriLink BioTechnologies, Tecan Trading AG, Takara Bio Inc., and others.
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