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Sequencing Reagents Market Analysis 2024-2033 : Forecast Market Size, Top Segments And Largest Region | F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Agilent Technologies Inc.
Sequencing Reagents Global Market Report 2024
As per the report, the sequencing reagents market size has grown rapidly in recent years. It will grow from $8.99 billion in 2023 to $10.45 billion in 2024 at a compound annual growth rate (CAGR) of 16.3%. The sequencing reagents market size is expected to see rapid growth in the next few years. It will grow to $19.32 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%.
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Demand For Personalized Medicine To Propel The Sequencing Reagents Market
The rising demand and development of personalized medicine are expected to propel the growth of the sequencing reagents market going forward. Personalized medicine, also known as precision medicine, is an innovative approach to medical treatment that tailors healthcare decisions and interventions to the individual characteristics of each patient. The rising demand for personalized medicine is fueled by genomics and molecular diagnostics advancements, enabling tailored treatments based on individual genetic profiles and disease characteristics. Sequencing reagents play a crucial role in personalized medicine by allowing the precise analysis of individual genetic information for tailored diagnostic and therapeutic interventions. For instance, in February 2024, according to the Personalized Medicine Coalition (PMC), a US-based non-profit organization, personalized medicines topped one-third of new U.S. Food and Drug Administration (FDA) drug approvals for the fourth year in 2023. Additionally, in 2023, the FDA approved 16 new personalized treatments for rare disease patients, up from six in 2022. Therefore, the rising demand and development of personalized medicine will drive sequencing reagents market.
Advancements In Long-Read Sequencing For Human Genome
Major companies operating in the sequencing reagents market are focused on developing innovative technology, such as Illumina Complete Long Read technology, to gain a competitive edge in the market. Illumina complete long-read technology is an advanced sequencing technology developed that combines the accuracy and throughput of short-read sequencing with the comprehensive coverage and ability to span complex genomic regions provided by long-read sequencing. For instance, in March 2023, Illumina Inc., a US-based biotechnology company, launched Illumina Complete Long Read Prep, Human. The high-performance, long-read, human whole-genome sequencing (WGS) assay is compatible with Illumina NovaSeq X Plus, NovaSeq X, and NovaSeq 6000 Sequencing Systems. Illumina's Complete Long Read Prep for Humans is a comprehensive workflow facilitating Long Read sequencing of the human genome on Illumina platforms, covering sample processing, library construction, and sequencing. It enables researchers to generate long sequencing reads for detailed genomic analysis, including identifying structural variations and complex genomic regions.
The sequencing reagents market covered in this report is segmented -
1) By Type: Library Kits, Template Kits, Control Kits, Sequencing Kits, Other Types
2) By Technology: Sanger Sequencing, Next Generation Sequencing, Third Generation Sequencing
3) By Application: Oncology, Reproductive Health, Clinical Investigation, Agrigenomics And Forensics, Other Applications
4) By Industry Verticals: Research Institutes, Hospitals and Clinics, Pharmaceutical And Biotechnology Companies, Other Industry Verticals
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Major companies operating in the sequencing reagents market are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., BGI Group, Beckman Coulter Inc., Hamilton Company, GenScript Biotech Corporation, Promega Corporation, Integrated DNA Technologies (IDT), BioLegend, Twist Bioscience, Diagenode, Covaris Inc., Oxford Nanopore Technologies plc, Biotage, Takara Bio Inc., New England Biolabs (NEB), Pacific Biosciences of California Inc., Zymo Research, Lucigen Corporation, Norgen Biotek Corp., Lexogen GmbH, Daicel Arbor Biosciences, Swift Biosciences Inc.
Contents of the report:
1. Executive Summary
2. Sequencing Reagents Market Report Structure
3. Sequencing Reagents Market Trends And Strategies
4. Sequencing Reagents Market - Macro Economic Scenario
5. Sequencing Reagents Market Size And Growth
…..
27. Sequencing Reagents Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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