Sequencing Reagents Market to grow at a CAGR of 12.5% to reach US$ 14,195.60 million from 2020 to 2028

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.

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

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Here we have listed the top Sequencing Reagents Market companies

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.; and Trilink Biotechnologies.

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Based on technology, the global sequencing reagents market is segmented into next generation sequencing, Sanger sequencing, and third generation sequencing. In 2020, the next generation sequencing segment held the largest share in the market. Based on reagent type, the global sequencing reagents market is segmented into control kits, library kits, template kits, sequencing kits, and other reagent types. The control kits segment held the largest market share in 2020, and it is further expected to dominate the market by 2028. Based on application, the global sequencing reagents market is segmented into Agrigenomics and forensics, clinical investigation, oncology, reproductive health, and other applications. The oncology segment held the largest market share in 2020

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Biotechnology, medical devices, pharma Industry, and many more. Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Sequencing Reagents market globally. This report on ‘Sequencing Reagents market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The report also showcases market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Sequencing Reagents Market based on product and application. It also provides market size and forecast till 2028 for overall Sequencing Reagents Market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM), which is later sub-segmented by respective countries and segments. The report evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend and provides exhaustive PEST analysis for all five regions.

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