Market Size of Sequencing Reagents Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 7.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sequencing Reagents Market Analysis
The Sequencing Reagents Market is expected to register a CAGR of 7.5% during the forecast period. This is attributing to increasing demand for third-generation sequencing, decreasing costs for genetic sequencing, and increasing R&D expenditure on genomic research. In addition, developments in sequencing technologies to provide high yield data for large scale genomic research and availability of new commercial reagents kits for specific sequencing technologies will also promote the growth of the sequencing reagents market. Nanopore and single-molecule real-time sequencing are some of the novel technologies, with its cost-effective and efficient preparation of sequencing the DNA results in adoption by researchers to sequence the genome in a short time and less cost. Moreover, the cost of genetic sequencing has been falling from USD 10-15 million per genome in 2001 to USD 1,200 per genome in 2017. Thus, the declining cost of genetic sequencing will boost the growth sequencing technologies, and which further drive the use of sequencing reagents. Furthermore, favorable government initiatives and increasing funding of private and public entities will also trigger the growth of sequencing technologies and propel the demand for sequencing reagents in the forecasted period.
