The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

• Exponential Growth: The sequencing consumables market has witnessed significant growth, expanding from $7.74 billion in 2023 to $9.79 billion in 2024, with a compound annual growth rate (CAGR) of 26.5%.
• Forecasted Expansion: By 2028, the market is expected to reach $25.34 billion, continuing its upward trajectory with a CAGR of 26.8%.

Factors Driving Market Growth

• Historic Period Drivers:
  • Increased drug development activities
  • Rising prevalence of genetic disorders and target diseases
  • High use of miniaturized portable instruments
  • Extensive biomarker profiling
  • Demand for personalized medicine
  • Increase in cancer patients
• Forecast Period Drivers:
  • Demand for rapid and accurate disease diagnosis
  • Adoption of real-time polymerase chain reaction (PCR)
  • Need for rapid and on-site diagnostic testing
  • Rise in infectious disease outbreaks
  • Demand for companion diagnostics

View More On The Sequencing Consumables Market Report 2024 – https://www.thebusinessresearchcompany.com/report/sequencing-consumables-global-market-report

Trends in the Sequencing Consumables Market

• Technological Advancements:
  • Advanced disease detection and monitoring
  • Innovations in drug discovery
  • Advancements in target validation and biomarker identification
  • Next-generation sequencing (NGS) technologies
  • Development of lab-on-a-chip platforms
  • Advanced molecular diagnostic solutions

Genetic Diseases Driving Market Growth

• Prevalence and Impact:
  • Rising prevalence of genetic diseases, influenced by improved diagnostics and environmental factors.
  • Utilization of sequencing consumables in genetic disease research for DNA extraction, library preparation, sequencing, and analysis.
• Case Example:
  • According to the Centers for Disease Control and Prevention (CDC), approximately 6,000 babies are born with Down syndrome each year in the U.S., highlighting the need for advanced genetic testing solutions.

Key Players in the Market

• Leading Companies:
  • Hoffmann-La Roche Ltd.
  • Thermo Fisher Scientific Inc.
  • Merck KGaA
  • Becton, Dickinson and Company
  • Agilent Technologies Inc.
  • Illumina Inc.
  • Bio-Rad Laboratories Inc.
  • QIAGEN N.V.
  • Tecan Group AG
  • BGI Genomics Co Ltd.
  • Promega Corporation
  • Abcam Limited
  • Integrated DNA Technologies Inc.
  • Takara Bio Inc.
  • Oxford Nanopore Technologies plc
  • Lexogen GmbH

Innovative Solutions in the Market

• Human Whole-Genome Sequencing (WGS):
  • Comprehensive analysis of an individual’s entire genome.
  • Identification of genetic variations, mutations, and biomarkers related to health and disease.
• Recent Developments:
  • In March 2023, Illumina Inc. launched the Illumina Complete Long Read Prep- Human, compatible with NovaSeq systems, offering combined long- and short-read data on a single instrument.

Strategic Acquisitions

• IDT’s Acquisition of Swift Biosciences:
  • In March 2021, Integrated DNA Technologies (IDT) acquired Swift Biosciences, enhancing IDT’s NGS product line and expanding its offerings across various research fields.

Market Segmentation

• By Product:
  • Kits
  • Reagents
  • Accessories
• By Platform:
  • 1st Generation Sequencing Consumables
  • 2nd Generation Sequencing Consumables
  • 3rd Generation Sequencing Consumables
• By Application:
  • Cancer Diagnostics
  • Infectious Disease Diagnostics
  • Reproductive Health Diagnostics
  • Pharmacogenomics
  • Agrigenomics
  • Other Applications
• By End-Use:
  • Pharmaceutical and Biotechnology Companies
  • Hospitals and Laboratories
  • Academic Research Institutes
  • Other End-Uses

Regional Insights

• North America: Largest market share in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

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