Asia Pacific Sequencing Reagents Market is expected to reach US$ 3,330.10 million by 2028

The next generation sequencing segment by technology is estimated to lead the market growth during the forecast period.

According to a new market research study of “Asia Pacific Sequencing Reagents Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Technology, Application, Reagent Type, End User and Country.” The Asia Pacific sequencing reagents market is expected to reach US$ 3,330.10 million by 2028 from US$ 1,231.81 million in 2020; it is estimated to grow at a CAGR of 13.3% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific sequencing reagents market and the factors driving market along with those that act as hindrances.

The Asia Pacific sequencing reagents market, by technology, is segmented into next generation sequencing, sanger sequencing, and third generation sequencing. The next generation sequencing segment held the largest share of the market in 2020. However, the sanger sequencing segment is anticipated to register the highest CAGR in the market during the forecast period. Genomic sequencing technologies have revolutionized mutation detection of the genetic diseases in the past few years. In recent years, the third-generation sequencing (TGS) has been gaining insight into more genetic diseases, owing to the single molecular and real time sequencing technology. One of these new technologies was developed by Pacific Biosciences and is called Single-Molecule Sequencing in Real Time (SMRT). SMRT is very efficient, which means that fewer expensive chemicals must be used. It is also incredibly sensitive, enabling scientists to effectively ‘eavesdrop’ on DNA polymerase and observe it making a strand of DNA. A rise in the demand for third-generation sequencing (TGS) technologies is attributive to the lucrative growth rate of this segment. With the emergence of TGS, genome sequencing has become a faster and reliable method to study genomic variations. Also, personalized medicine offers the most promising approaches to tackle diseases, which have far eluded effective treatments or cures. Increasing adoption of personalized medicines for disease treatments using the patient’s genetic information is expected to aid in offering targeted treatment. This, in turn, is expected to create lucrative growth opportunities for the sequencing reagent market during the forecast period.

Asia Pacific is adversely affected by COVID-19 pandemic. The genomics helped understand SARS-CoV-2, which enabled governments and researchers to track the emergence of COVID-19 outbreaks in their country. Healthcare experts realized the importance of genomics in the treatment of COVID-19, which is expected to raise the demand for genomic during the forecast period. Hence, the rising research activities on the novel coronavirus that causes COVID-19 are paving a way for potential opportunities for start-ups and established businesses. For instance, Haystack Analytics, a start-up company in Mumbai, India, is using genomics to study the transmission of the coronavirus to help the Indian government. Thus, the demand for genomics is increasing due to the rising cases of COVID-19. As a result, the need for sequencing reagents is growing, which is driving the growth of the market.

The growth of the market is attributed to the increasing demand for third generation sequencing and personalized medicines. However, the dearth of skilled professionals hinders the market growth.

Pacific Biosciences of California, Inc., QIAGEN, Takara Bio Inc., THERMO FISHER SCIENTIFIC INC., TriLink BioTechnologies Inc, BGI, F. HOFFMANN-LA ROCHE LTD., Illumina, Inc., FLUIDIGM CORPORATION and LGC Biosearch Technologies are among the leading companies operating in the Asia Pacific sequencing reagents market.

The report segments in Asia Pacific Sequencing Reagents Market as follows:

By Technology

• Next Generation Sequencing
• Sanger Sequencing
• Third Generation Sequencing

By Reagent Type

• Control Kits
• Library Kits
• Template Kits
• Sequencing Kits
• Other Reagent Types

By Application

• Agri genomics and Forensics
• Clinical Investigation
• Oncology
• Reproductive Health
• Other Applications

By End User    

• Hospitals and Clinics
• Research Institutes
• Pharmaceutical and Biotechnology Companies
• Other End Users

By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific