Key Trends and Insights into the Sequencing Consumables Market: Growth Rate and Opportunities to 2034
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What Future CAGR is Anticipated for the Sequencing Consumables Market Over the 2025–2034 Period?
In recent years, the size of the sequencing consumables market has experienced significant expansion. Its projected growth is from $9.79 billion in 2024 to $12.44 billion in 2025, with a compound annual growth rate (CAGR) of 27.1%. Factors contributing to its growth during the historic period include the acceleration of drug development activities, higher occurrence of genetic disorders and targeted diseases, more widespread use of downsized portable devices, increased application of biomarker profiling, a surge in demand for individualized medicine, and a rise in cancer patient numbers.
The market size for sequencing consumables is predicted to experience significant expansion in the coming years, ballooning to a staggering $32.12 billion by 2029 with a compound annual growth rate (CAGR) of 26.8%. This increase during the forecast period can be linked to a variety of factors such as the surging demand for fast and precise disease diagnostics, the escalating utilization of real-time polymerase chain reaction, rising need for quick and on-site diagnostic tests, increasing instances of infectious disease outbreaks, and the need for companion diagnostics. Key trends to watch out for during the forecast period encompass advanced detection and monitoring of diseases, novel developments in drug discovery, progress in target validation, identification of biomarkers, cutting-edge DNA sequencing technologies, advancements in diagnostic tests, next-generation sequencing (NGS), lab-on-a-chip platforms, and the evolution of advanced molecular diagnostic solutions.
Which Factors Are Enhancing the Growth of the Sequencing Consumables Market?
The surge in genetic disorders is predicted to spur the development of the sequencing consumables market. Genetic disorders, often inherited, originate from abnormalities in a person’s DNA or genes. The increasing occurrence of these disorders can be connected to rising awareness, enhanced diagnostics, and shifting environmental conditions. Sequencing consumables play a crucial role in genetic diseases management, as they are employed for DNA extraction, library preparation, sequencing and analysis to pinpoint genetic variants linked to the disease. For example, data from the Centers for Disease Control and Prevention, a US government agency, report that in April 2024, around 6,000 babies are born with Down syndrome each year in the U.S., meaning approximately 1 in every 700 babies have this condition. Consequently, the surge in genetic diseases is steering the expansion of the sequencing consumables market.
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Who Are the Influential Players Fueling Innovation and 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
What Impact Are Industry Trends Having on the Sequencing Consumables Market’s Future Prospects?
Large firms participating in the sequencing consumables industry are prioritizing the creation of innovative techniques like human whole-genome sequencing (WGS) assays with a goal to upscale precision, effectiveness, and pace in the genomic studies. The human whole-genome sequencing (WGS) assays delves into a complete examination of an individual’s full genome, encapsulating their complete DNA to detect genetic variations, mutations, and biomarkers that could be linked to health, susceptibility to disease, and response to treatment. For example, in March 2023, the American biotech firm, Illumina Inc., introduced their product, Illumina Complete Long Read Prep- Human. This product is a high-performance, long-read, human whole-genome sequencing (WGS) assay. This product is designed to work with Illumina NovaSeq X Plus, NovaSeq X, and NovaSeq 6000 Sequencing Systems. It gives users the first-ever opportunity to access both long and short read data through one singular Illumina device. This new release simplifies processes while also significantly cutting down on DNA input conditions when compared to other long-read alternatives.
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What Are the Main Segments of the Sequencing Consumables Market, and How Are They Evolving?
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
What Regions Are Leading the Growth Trajectory 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.
What Are the Key Characteristics That Define the Sequencing Consumables Market?
Sequencing consumables refer to the various reagents, kits, and materials used during the DNA or RNA sequencing. These consumables are essential for preparing, amplifying, and analyzing genetic samples in sequencing workflows. Sequencing consumables are designed to work with specific sequencing platforms and technologies, ensuring genomic data generation’s accuracy, efficiency, and reliability.
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