What’s Driving Growth in the Sequencing Consumables Market? Insights into Key Trends and Opportunities
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What key factors are powering the surge in the sequencing consumables market right now?
The market size for sequencing consumables has seen a steep increase in the recent past. The projected growth is from $9.79 billion in 2024, escalating to $12.44 billion in 2025 at a compound annual growth rate (CAGR) of 27.1%. Factors contributing to this upward trend during the historic period include an escalated number of drug development activities, a rise in genetic disorders and targeted diseases, the prevalent use of mini portable equipment, a surge in biomarker profiling, an increasing demand for personalized medicine, and a rise in the population of cancer patients.
How fast Is the sequencing consumables market expected to grow, and what’s its future value?
The sequencing consumables market size is expected to see exponential growth in the next few years. It will grow to $32.12 billion in 2029 at a compound annual growth rate (CAGR) of 26.8%. The growth in the forecast period can be attributed to rise in demand for rapid and accurate diagnosis of disease, growing adoption of real-time polymerase chain reaction, the growing demand for rapid and on-site diagnostic testing, rise in infectious disease outbreaks, and demand for companion diagnostics. Major trends in the forecast period include advanced disease detection and monitoring, innovations in drug discovery, advancement in target validation, biomarker identification, advanced DNA sequencing technologies, diagnostic testing advancements, next-generation sequencing (NGS), lab-on-a-chip platforms, and advanced molecular diagnostic solutions development.
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What are the leading drivers of growth in the sequencing consumables market?
The growth of the sequencing consumables market is predicted to be stimulated by the increasing prevalence of genetic disorders. These are conditions resulting from anomalies in a person’s DNA or genes, typically inherited from the parents. Reasons for the surge in genetic conditions include heightened awareness, advanced diagnostics, and shifting environmental circumstances. Sequencing consumables are employed in the examination of genetic diseases to extract DNA, prepare libraries, conduct sequencing, and analyze to locate genetic variations related to the disease. For example, the Centers for Disease Control and Prevention reported in April 2024 that around 6,000 babies are born with Down syndrome each year in the United States, affecting about 1 in every 700 babies. Therefore, the escalating rate of genetic disorders is spurring the growth of the sequencing consumables market.
What are the key segments defining the sequencing consumables market?
The sequencing consumables market covered in this report is segmented –
1) By Product: Kits, Reagents, Accessories
2) By Platform: 1st Generation Sequencing Consumables, 2nd Generation Sequencing Consumables, 3rd Generation Sequencing Consumables
3) By Application: Cancer Diagnostics, Infectious Disease Diagnostics, Reproductive Health Diagnostics, Pharmacogenomics, Agrigenomics, Others Application
4) By End-Use: Pharmaceutical And Biotechnology Companies, Hospitals And Laboratories, Academic Research Institutes, Other End-Uses
Subsegments:
1) By Kits: Library Preparation Kits, DNA Or RNA Amplification Kits, Sequencing Kits
2) By Reagents: PCR Reagents, DNA Or RNA Reagents, Enzymes
3) By Accessories: Sequencing Chips, Primers And Probes, Sample Preparation Tools
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Who are the key firms paving the way for growth in the sequencing consumables market?
Major companies operating in the sequencing consumables market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Merck KGaA, Becton, Dickinson and Company, Agilent Technologies Inc., Illumina Inc., PerkinElmer Inc., bioMérieux SA, Beckman Coulter 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, Pacific Biosciences of California Inc., Analytik Jena GmbH, Standard BioTools Inc., LGC Biosearch Technologies Inc., Biocartis SA, Apex Biotechnology Corp., Lexogen GmbH
What key trends are currently impacting the sequencing consumables market’s development?
Primary firms in the market for sequencing consumables are emphasizing the creation of innovative solutions, such as human whole-genome sequencing (WGS) assays, which aim to improve precision, efficiency, and processing speed in genomic analysis. These assays provide a complete examination of a person’s entire genetic makeup, pinpointing genetic inconsistencies, mutations, and biomarkers correlated with health status, disease susceptibility, and treatment outcomes. To illustrate, Illumina Inc., a biotechnology organization from the United States, unveiled Illumina Complete Long Read Prep- Human in March 2023. This top-performing, long-read, human whole-genome sequencing (WGS) assay is compatible with various Illumina sequencing systems such as NovaSeq X Plus, NovaSeq X, and NovaSeq 6000. The introduction of this product allows users to access both long- and short-read data using a single Illumina device for the first time, streamlining workflows and significantly cutting down DNA input needs in comparison to other long-read alternatives.
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What regions are contributing significantly to the growth of the sequencing consumables market?
North America was the largest region in the sequencing consumables market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sequencing consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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