Surging Genomics Research is lucrative for the Global Sequencing Reagents Market Growth

Inkwood Research estimates that the Global Sequencing Reagents Market is evaluated to project a CAGR of 12.91% in terms of revenue during the forecasting years of 2021-2028.

"Browse 61 Market Data Tables and 50 Figures spread over 250 Pages, along with an in-depth TOC on the Global Sequencing Reagents Market Forecast 2021-2028."

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Reagents are compounds or substances added to induce a chemical reaction or to test a reaction. Sequencing is the determination of the primary structure of an unbranched biopolymer. Sequencing reagents are an important part of the sequencing reactions.

Key Growth Driver: Growing Genomics Research due to Chronic Disease Prevalence

Chronic diseases are becoming increasingly prevalent worldwide. As per the CDC (Centers for Disease Control and Prevention) 2020 data, almost 4 in 10 people had two or more chronic conditions, and around 6 in 10 people in the US had one chronic disease. In addition, twin studies have stated that genes contribute to chronic conditions like Alzheimer's disease (AD), cardiovascular diseases (CVDs), obesity, diabetes, depression, and RA.

However, at present, molecular genetic data from genome-wide association studies (GWAS) have enabled the evaluation of individual-level risks for such chronic diseases. In addition, cardiovascular diseases like angina pectoris, acute myocardial infraction, and atherosclerosis are the major fatal cause globally, given the hectic present-day lifestyles. As a result, with the fast-paced increase in chronic diseases, genomics research on life-threatening illnesses has witnessed rapid progress.

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Fastest-Growing Application: Clinical Investigation

NGS (Next-generation Sequencing) can examine several targets at once. Thus, it has huge potential application in clinical settings. For instance, a cancer tumor can have multiple mutations. Multiple assays will be needed for multiple mutations. For these multiple assays, a huge amount of tissues will be needed. These targets can be examined with NGS technology in a single test.

Further, several market players are adopting inorganic and organic developments for market growth. For example, Illumina was granted Clinical NGS Platform Reagents registration in Russia in March 2021. Moreover, technological advancements in reagent kits have propelled the market growth.

Fastest-Growing Region: Asia-Pacific

There is an increasing demand for third-generation sequencing (TGS) technologies in the region. Also, the rising adoption of personalized medicines for disease treatments using genetic information is set to offer ample growth opportunities. In addition, the pandemic has enabled the application of genomics in the treatment of COVID-19. Genomics has aided in understanding the SARS-CoV-2, enabling researchers and governments to track the emergence of COVID outbreaks.

The strong competitive rivalry in the market is accredited to various establishments adopting technologically advanced products and innovative technologies. Agilent Technologies Inc, BGI Genomics, Illumina Inc, Takara Bio Inc, Thermo Fisher Scientific Inc, etc., are among the key companies in the market.

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This release was published on openPR.