Sequencing Consumables Market projected to reach USD 30.8 Billion by 2030, growing at a CAGR of 23% during the forecast period of 2023-2030 – professed by MarketDigits in its recent study

The Sequencing Consumables market was valued USD 7.2 Billion in 2023 and projected to reach USD 30.8 Billion by 2030, growing at a CAGR of 23% during the forecast period of 2023-2030.

Richmond, Feb. 23, 2024 (GLOBE NEWSWIRE) — According to a research report “Sequencing Consumables Market, by Product Type (Kits {DNA Library preparation, RNA Library preparation, Target Enrichment, Library Quantification, Purification and quality control, Others}, Reagents {Sample prep, Library preparation and amplification, Sequencing} Accessories {Collection tubes, Plates, Others}), Applications (Infectious Disease Diagnostics, Reproductive health Diagnostics, Cancer Diagnostics, Pharmacogenomics, Agrigenomics, Others), End-User (Hospitals and laboratories, Pharmaceutical and biotechnology companies, Academic research institutes, Others) and Region – Global Forecast to 2030.

Global Sequencing Consumables Market Report Scope:

Report Details
Market size value in 2023 USD 7.2 Billion
Market size value in 2030 USD 30.8 Billion
CAGR (2023-2030) 23%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Product Type, Applications, End User and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW
 
  • Agilent Technologies
 
  • Beckman Coulter, Inc.
Sample of Companies Covered
  • BGI Genomics
 
  • Danaher
 
  • Eurofins Genomics

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TOC Covers in Depth & Breath on Sequencing Consumables Market
170 – Market Data Tables
65 – List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.             

Market Overview

The Global Sequencing Consumables market occupies a necessary role in the contemporary food industry, In the contemporary landscape of DNA sequencing, Next Generation Sequencing (NGS) and other cutting-edge technologies are accessible to researchers, practitioners, and academicians at an affordable cost, offering unparalleled accuracy. Biological databases are experiencing a surge in sequence data originating from diverse organisms worldwide. Presently, researchers and scientists from various disciplines leverage this wealth of data for a myriad of applications. These include enhancing food security through the development of improved crops and crop yields, refining livestock, and advancing diagnostics, prognostics, and therapies for complex diseases.

Next Generation Sequencing (NGS) technology encompasses non-Sanger sequencing methods that have superseded traditional sequencing approaches. It is extensively employed for examining entire genomes through whole genome sequencing, focusing on coding exons in known genes with whole exome sequencing, and selectively targeting coding regions of specific genes through targeted panels.

Major vendors in the global Sequencing Consumables market:

  • Agilent Technologies
  • Beckman Coulter, Inc.
  • BGI Genomics
  • Danaher
  • Eurofins Genomics
  • Hoffmann-La Roche Ltd
  • Illumina Inc.
  • Millipore Sigma
  • New England Biolabs
  • Oxford Nanopore Technologies Ltd
  • PerkinElmer Inc.
  • QIAGEN
  • Takara Bio Inc.
  • Thermo Fisher Scientific, Inc.
  • Others

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Rising applications of genomics

One of the primary drivers for the global Sequencing Consumables market is, genomics particularly the use of sequencing technologies, has become increasingly essential in various fields, driving the demand for sequencing consumables. Sequencing consumables are the materials and reagents required for the preparation and execution of DNA sequencing experiments. Genomic sequencing is necessary for identifying genetic mutations associated with cancer. This helps in developing personalized treatment plans, and the demand for sequencing consumables in cancer genomics is on the rise. Genomic sequencing is used to understand the genetic makeup of pathogens, aiding in the diagnosis and tracking of infectious diseases. Sequencing consumables play an essential role in these diagnostic processes. Understanding the genetic basis of drug response is for personalized medicine. Genomic sequencing is employed to identify genetic variations that influence drug metabolism and efficacy. Sequencing consumables are integral to these studies. Genomic sequencing is applied to understand the genetic diversity of crops, identify desirable traits, and accelerate the breeding process. Sequencing consumables are essential for large-scale genotyping and sequencing of plant genomes.

Market Dynamics

Drivers:

  • Rising applications of genomics
  • Increasing demand in clinical diagnostics
  • Growing personalized medicine
  • Expansion of rise in adopting NGS techniques

Opportunities:

  • Technological Advancements in sequencing
  • Health and Wellness Trends
  • Increasing in funding of genomics
  • Rise in continuous innovation

Advancements in Sequencing Processing Technologies

Technological advancements in food processing play an essential in propelling the growth of the global sequencing consumables market. The emergence of next-generation sequencing (NGS) has marked a revolutionary shift in genomics research, offering unprecedented capabilities for the analysis of DNA and RNA molecules in a cost-effective and high-throughput manner. This transformative technology has rapidly advanced genomics across various domains. NGS enables the simultaneous rapid sequencing of millions of DNA fragments, providing comprehensive insights into genome structure, genetic variations, gene expression profiles, and epigenetic modifications. The versatility of NGS platforms has broadened the scope of genomics research, supporting investigations into rare genetic diseases, cancer genomics, microbiome analysis, infectious diseases, and population genetics. NGS has played an essential role in the development of targeted therapies, precision medicine approaches, and improved diagnostic methods. A comprehensive overview of current trends and recent advancements in NGS technology, emphasizing its potential impact on diverse areas of genomic research. Additionally, future directions of NGS technology, including efforts to enhance the accuracy and sensitivity of sequencing data, the development of novel algorithms for data analysis, and the pursuit of more efficient, scalable, and cost-effective solutions in the field.

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North America dominates the market for Sequencing Consumables.

North America stands out as the dominating region in the global Sequencing Consumables market, with the United States leading in consumption and market share. The region’s dominance can be attributed to the high prevalence of several clinical laboratories utilizing Next-Generation Sequencing (NGS) to offer genetic testing services. The U.S. market particularly benefits from funding for large-scale genomics projects and initiatives.

Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the Sequencing Consumables market. Rapid growth in the sequencing consumables market due to expanding genomics research, increasing healthcare investments, and a rising focus on precision medicine. India’s market is driven by a rising urban population, increasing disposable incomes, and a shift towards Westernized eating habits. Additionally, government initiatives promoting the health processing sector and improvements in distribution channels contribute to the market’s growth.

Another noteworthy region is the Middle East and Africa, where the demand for convenient food solutions is on the rise due to changing lifestyles and an expanding working-class population. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of convenient health options.

The Infectious Disease Diagnostics Segment is anticipated to hold the Largest Market Share during the Forecast Period

In the global Sequencing Consumables market, a significant global challenge is the limited access to facility-based diagnostic testing for most individuals worldwide. Addressing this gap in diagnostic test availability for public health. In many low- and middle-income countries (LMICs), the landscape of infectious disease diagnostic testing is transforming through the adoption of self-testing, self-sampling, and institutional testing outside traditional clinical settings. This is to assess the impact of delivering infectious disease diagnostic testing outside clinics on test uptake and linkage to care.  Alternative testing approaches have the potential to expand access to diagnostic testing, empowering patients and improving public health outcomes. The implementation, scale-up of effective service delivery models, and the development of supportive policies in LMIC settings.

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