$5.5+ Billion Global Sequencing Reagents Market to 2028 – by Technology, Application, Reagent Type, End-user and Geography – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Sequencing Reagents Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Technology; Application; Reagent Type; End User; Geography.” report has been added to ResearchAndMarkets.com’s offering.

The global sequencing reagents market is expected to reach US$ 14,195.60 million by 2028 from US$ 5,530.32 million in 2020; it is estimated to grow at a CAGR of 12.5% from 2021 to 2028.

The factors such as growing funding for genomics, declining cost of sequencing procedures, and increasing prevalence of chronic diseases drive the market growth. However, the dearth of skilled professionals hinders the market growth.

Sequencing reagents are used during the process of sequencing. The use of these reagents highly depends on the desired result to be obtained. They form an essential part of the sequencing reactions, which can be used across various other applications as well. An increase in R&D activities worldwide is expected to drive the growth of the market during the forecast period.

Five years ago, genomic sequencing was restricted to the research environment. Now, it is increasingly used in clinical practice, and over the next five years, genomic data from over 60 million patients is expected to be generated within healthcare. Genomic sequencing is rapidly transitioning into clinical practice, and implementation into healthcare systems has been supported by substantial government investment, totaling over US$ 4 billion in at least 14 countries. These national genomic-medicine initiatives are driving transformative change under real-life conditions while simultaneously addressing barriers to implementation and gathering evidence for broader adoption, thereby driving the market growth.

The UK has announced the world’s largest genome project as a part of 200 million public-private collaboration between charities and pharma. The UK has already developed the largest genome database in the world through the 100,000 Genomes Project. Led by Innovate UK as a part of UK Research and Innovation, the project will fund researchers and industry to combine data and real-world evidence from the UK health services and create new products and services that diagnose diseases earlier and more efficiently.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the sequencing reagents market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global sequencing reagents market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

• Growing Funding for Genomics
• Declining Cost of Sequencing Procedures
• Increasing Prevalence of Chronic Diseases

Restraints

• Dearth of Skilled Professionals

Opportunities

• Increasing Demand for Third Generation Sequencing

Future Trends

• Increasing Demand for Personalized Medicines

Companies Mentioned

• BGI Group
• F. Hoffmann-La Roche Ltd.
• Fluidigm Corporation
• Illumina, Inc.
• LGC Biosearch Technologies
• Pacific Biosciences of California, Inc.
• Qiagen
• Takara Bio, Inc.
• Thermo Fisher Scientific, Inc.
• Trilink Biotechnologies

For more information about this report visit https://www.researchandmarkets.com/r/voe0dz

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