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Genetic Diseases Driving Growth In Sequencing Consumables Market: An Emerging Driver Transforming The Sequencing Consumables Market Landscape
Sequencing Consumables
What Is the Projected Growth of the Sequencing Consumables Market?
The sequencing consumables market will increase from $9.79 billion in 2024 to $12.44 billion in 2025 at a CAGR of 27.1%. This growth has been fueled by a surge in drug development, rising cases of genetic disorders, demand for portable instruments, widespread biomarker use, a push for personalized medicine, and increasing cancer cases.
The sequencing consumables market is projected to grow exponentially, reaching $32.12 billion by 2029 at a CAGR of 26.8%. This growth is driven by the increased demand for rapid, accurate disease diagnosis, the rise of real-time polymerase chain reaction, the demand for on-site diagnostic testing, the rise in infectious disease outbreaks, and the demand for companion diagnostics. Trends include advanced disease detection, innovations in drug discovery, biomarker identification, next-gen sequencing, and the development of lab-on-a-chip platforms.
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What Are the Different Sequencing Consumables Market Segments?
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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What Are the Primary Drivers Shaping the Sequencing Consumables Market?
The rising incidence of genetic disorders is expected to promote the sequencing consumables market. These conditions are increasingly diagnosed due to improved awareness and testing capabilities. Sequencing consumables are used for DNA extraction, sequencing, and genetic analysis. In April 2024, the CDC reported that about 6,000 babies are born each year in the U.S. with Down syndrome, occurring in 1 out of every 700 births. The increasing focus on diagnosing such conditions is advancing the sequencing consumables market.
Which Companies Are Leading 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 Trends Are Expected to Dominate the Sequencing Consumables Market in the Next 5 Years?
Companies in the sequencing consumables market are focusing on innovations like human whole-genome sequencing (WGS) assays to improve genomic analysis' accuracy, efficiency, and speed. In March 2023, Illumina Inc., a US-based biotechnology company, launched the Illumina Complete Long Read Prep-Human, a long-read WGS assay that offers access to long- and short-read data on a single sequencing instrument, simplifying workflows and reducing DNA input requirements.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Sequencing Consumables Market?
2. What is the CAGR expected in the Sequencing Consumables Market?
3. What Are the Key Innovations Transforming the Sequencing Consumables Industry?
4. Which Region Is Leading the Sequencing Consumables Market?
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