South and Central America Sequencing Reagents Market
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.
Strategic insights for the South and Central America Sequencing Reagents provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 342.80 Million |
| Market Size by 2028 | US$ 737.60 Million |
| Global CAGR (2021 - 2028) | 11.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
The geographic scope of the South and Central America Sequencing Reagents refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The South and Central America sequencing reagents market is expected to reach US$ 737.60 million by 2028 from US$ 342.80 million in 2021; it is estimated to grow at a CAGR of 11.6% from 2021 to 2028. The growth of the market is attributed to a few key driving factors such as the increasing volume of funding activities for various research studies and the declining cost of sequencing procedures. However, the dearth of skilled professionals hinders the market growth.
Sequencing form an essential part of the sequencing reactions, which can be used across various other applications as well. Now, sequencing reagents 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 growth of the sequencing reagent market. In addition, continuous funding by manufacturers and governments in the field of genomics is expected to bolster the market growth during the forecast period. In the recent years, next generation sequencing price have declined substantially. Owing to factors such as advances in the field of genomics and developments in different methods and strategies for sequencing, there is a notable decline in the cost of sequencing, which is propelling the market growth.
With the second wave of COVID-19 outbreak, there has been an increasing number of confirmed cases in Latin American countries. Currently, Brazil is rapidly increasing its clinical programs to fight against the novel coronavirus. There is a rising focus on genomic sequencing and tests. For instance, in July 2020, Vale Institute of Technology (ITV) and Fiocruz announced that they are planning to carry out the most extensive genome sequencing study of the Sars-CoV-2. Vale invested R$ 2.4 million in the research. Such initiatives would bolster the growth of the South and Central America sequencing reagents market in long run.
The South and Central America 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.
The South and Central America sequencing reagents market, by reagent type, is segmented into control kits, library kits, template kits, sequencing kits, and other reagent types. The sequencing kits segment held the largest share of the market in 2020, whereas the library kits segment is anticipated to register the highest CAGR in the market during the forecast period.
The South and Central America sequencing reagents market, by application, is segmented into agrigenomics and forensics, clinical investigation, oncology, reproductive health, and other applications. The oncology segment held the largest share of the market in 2020. However, the clinical investigation segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the South and Central America sequencing reagents market is segmented into hospitals and clinics, research institutes, and pharmaceutical and biotechnology companies, and other end users. The research institutes segment held the largest share of the market in 2020. Also, the same segment is estimated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources associated with this report on the South and Central America sequencing reagents market are American Society of Clinical Oncology (ASCO), American Society of Human Genomics (ASCG) and International Atomic Energy Agency (IAEA).
The South and Central America Sequencing Reagents Market is valued at US$ 342.80 Million in 2021, it is projected to reach US$ 737.60 Million by 2028.
As per our report South and Central America Sequencing Reagents Market, the market size is valued at US$ 342.80 Million in 2021, projecting it to reach US$ 737.60 Million by 2028. This translates to a CAGR of approximately 11.6% during the forecast period.
The South and Central America Sequencing Reagents Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South and Central America Sequencing Reagents Market report:
The South and Central America Sequencing Reagents Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Sequencing Reagents Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Sequencing Reagents Market value chain can benefit from the information contained in a comprehensive market report.
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