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United States Sequencing Reagents Market Forecast 2021-2026

KEY FINDINGS

The United States sequencing reagents market is projected to record a CAGR of 13.91% during the forecast period, 2021-2026. The minimized costs of genome sequencing, rising incidence of cancer, growing applications of NGS in cancer research, and advancements in NGS platforms propel market growth.

MARKET INSIGHTS

The national genomic-medicine initiatives are contributing to the growth of the US market. Also, they are addressing the hindrance to implementation, and collecting evidence for broader adoption. Additionally, the regular funding by the government and manufacturers in genomics is set to benefit market growth. Moreover, the cost of next generation sequencing has reduced considerably. Further, with advancements in genomics and the development of varied methods and strategies for sequencing, sequencing costs are on the decline.

One of the significant trends prevalent in the US genomics market is the adoption of inorganic strategies. As a result, the companies are leveraging the expertise of others, which is estimated to result in the latest innovations in the industry. For example, Ginkgo Bioworks acquired Gen9, a synthetic DNA provider, to enhance the speed and capacity for constructing new organism designs. Furthermore, the advanced consumables and services launched by the US market players benefit market growth.

COMPETITIVE INSIGHTS

Some key firms in the market include Agilent Technologies Inc, Thermo Fisher Scientific Inc, BGI Genomics, Bio-Rad Laboratories, Inc Illumina Inc, Pacific Biosciences of California Inc, etc.

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United States Sequencing Reagents Market Forecast 2021-2026
Published By :Inkwood Research
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