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Asia-Pacific Sequencing Reagents Market Forecast 2021-2028

KEY FINDINGS

The Asia-Pacific sequencing reagents market is projected to record a CAGR of 13.43% during the forecast period, 2021-2028. The increasing research and development for genomics and government initiatives propel market growth.

MARKET INSIGHTS

Thailand, Vietnam, India, Japan, Australia & New Zealand, China, Indonesia, South Korea, and Rest of Asia-Pacific, are evaluated for the Asia-Pacific sequencing reagents market growth analysis. In Japan, the market growth is attributed to the rising number of large-scale national genomic initiatives. Also, the government is pushing for more genomic programs and institutes. For example, Japan Agency for Medical Research and Development promotes the research for genomic medicine realization. It also creates next-generation precision medicine through programs like Platform Program for Promotion of Genome Medicine, Tailor-Made Medical Treatment with the BioBank Japan Project (BBJ), Tohoku Medical Megabank Project, etc. Moreover, the rising product launches by market players further contribute to market growth.

In Australia, the market growth is driven by tailored management of the disease. Also, government investments offer lucrative growth opportunities. For example, the Australian Genomics Health Futures Mission is set to invest AUD 500 million (USD 325.5 million) in genomic research from 2020-2028. In addition, the increasing promotion of personalized medicine and the growing focus on genomic medicine benefit market growth.

Furthermore, countries like Malaysia, Singapore, Myanmar, Nepal, Bangladesh, Cambodia, etc., are witnessing improvements in economic conditions due to growing per capita income and purchasing power. Therefore, these counties are assessed to be the potential hotspots for investments since they offer significant growth opportunities.

COMPETITIVE INSIGHTS

Some eminent players in the market include Qiagen NV, Pacific Biosciences of California Inc, Takara Bio Inc, Illumina Inc, PerkinElmer Inc, etc.

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Asia-Pacific Sequencing Reagents Market Forecast 2021-2028
Published By :Inkwood Research
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