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Sequencing Consumables Market 2024 Analysis By Size, Share, Growth, Trends Up To 2033 | F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc, Merck KGaA, Becton, Dickinson and Company
Sequencing Consumables Global Market Report 2024
As per the report, the sequencing consumables market size has grown exponentially in recent years. It will grow from $7.74 billion in 2023 to $9.79 billion in 2024 at a compound annual growth rate (CAGR) of 26.5%. The sequencing consumables market size is expected to see exponential growth in the next few years. It will grow to $25.34 billion in 2028 at a compound annual growth rate (CAGR) of 26.8%.
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Genetic Diseases Driving Growth In Sequencing Consumables Market
The rising prevalence of genetic diseases is expected to propel the growth of the sequencing consumables market going forward. Genetic diseases are disorders caused by abnormalities in an individual's DNA or genes, often inherited from their parents. The rising prevalence of genetic diseases is attributed to factors such as increased awareness, improved diagnostics, and changing environmental conditions. Sequencing consumables are utilized in genetic diseases for DNA extraction, library preparation, sequencing, and analysis to identify genetic variants associated with disease. For instance, in April 2024, according to the Centers for Disease Control and Prevention, a US-based government agency, about 6,000 babies born in the United States have Down syndrome each year, which occurs in about 1 in every 700 babies. Therefore, the rising prevalence of genetic diseases is driving the growth of the sequencing consumables market.
Innovative Solutions In The Sequencing Consumables Market
Major companies operating in the sequencing consumables market are focused on developing innovative solutions, such as human whole-genome sequencing (WGS) assays, to enhance accuracy, efficiency, and speed in genomic analysis. Human whole-genome sequencing (WGS) assays involve the comprehensive analysis of an individual's entire genome, including all of their DNA, to identify genetic variations, mutations, and biomarkers associated with health, disease risk, and treatment response. For instance, in March 2023, Illumina Inc, a US-based biotechnology company, launched Illumina Complete Long Read Prep- Human, a high-performance, long-read, human whole-genome sequencing (WGS) assay. The Illumina Complete Long Read Prep, Human is compatible with Illumina NovaSeq X Plus, NovaSeq X, and NovaSeq 6000 Sequencing Systems. It provides users access to long- and short-read data on a single Illumina instrument for the first time. This offering simplifies workflows and significantly reduces DNA input requirements compared to other long-read options.
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
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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
Contents of the report:
1. Executive Summary
2. Sequencing Consumables Market Report Structure
3. Sequencing Consumables Market Trends And Strategies
4. Sequencing Consumables Market - Macro Economic Scenario
5. Sequencing Consumables Market Size And Growth
…..
27. Sequencing Consumables Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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