PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1424977
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1424977
Sequencing Consumables Market size was valued at USD 7,633 Million in 2023, expanding at a CAGR of 22.5% from 2024 to 2032.
Sequencing consumables encompass a wide range of materials and supplies utilized in the process of DNA sequencing. This laboratory technique is employed to ascertain the precise order of nucleotides (adenine, thymine, cytosine, and guanine) within a DNA molecule. Consumables play a vital role as they are utilized and depleted throughout the sequencing workflow. The advancements in sequencing technologies have resulted in the emergence of diverse platforms with distinct consumable requirements. Researchers and laboratories select sequencing consumables based on various factors, including the nature of the sequencing project, desired throughput, and the employed sequencing technology. Following the completion of the initial human genome sequencing project, there has been an escalating demand for groundbreaking sequencing technologies capable of generating high-quality sequencing data. These endeavors have led to the creation of a series of rapidly evolving next-generation sequencing (NGS) technologies that can produce vast amounts of data at a more affordable and expedited pace.
Sequencing Consumables Market- Market Dynamics
Rising investments in genomics and pharmaceutical R&D and rising prevalence of genetic diseases significantly drives the growth of the market.
The demand for consumables used in DNA sequencing is directly impacted by the increased investments in genomics and pharmaceutical research and development (R&D). As research initiatives in these fields continue to expand, there is an increasing need for the tools and materials required for DNA sequencing. The market for sequencing consumables is primarily driven by the growing prevalence of genetic diseases worldwide. These diseases are caused by variations or mutations in an individual's DNA, and understanding these variations is crucial for diagnosis, treatment, and prevention. There are approximately 10,000 different types of single-gene diseases, also known as monogenic diseases, which result from mutations in a single gene. According to the World Health Organization, around 10 out of every 1000 people are affected by these diseases. This means that between 70 million and 80 million individuals worldwide are living with one of these conditions. The continuous advancements in genomic research, such as the identification of new biomarkers and therapeutic targets, present significant opportunities for the sequencing consumables market. However, the high cost associated with sequencing technologies may pose a challenge to the market's growth.
Sequencing Consumables Market- Key Insights
As per the analysis shared by our research analyst, the global Sequencing Consumables market is estimated to grow annually at a CAGR of around 22.5% over the forecast period (2024-2032)
Based on Product segmentation, Kit's was predicted to show maximum market share in the year 2023
Based on Platform segmentation, 2nd Generation Sequencing Consumables was the leading type in 2023
Based on Application segmentation, Cancer Diagnostics was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Sequencing Consumables Market is segmented on the basis of Product, Platform, Application, End User, and Region.
The market is divided into three categories based on Product: Kits, Reagents and Accessories. Kit's segment holds a significant share in the market. The sequencing kits are specifically tailored for various sequencing platforms and encompass all the essential elements required for the sequencing process. These kits play a crucial role in preparing biological samples for sequencing by providing the necessary reagents and consumables for DNA or RNA extraction, purification, and library preparation.
The market is divided into three categories based on Platform: 1st Generation Sequencing Consumables, 2nd Generation Sequencing Consumables and 3rd Generation Sequencing Consumables. 2nd Generation Sequencing Consumables segment dominates the market. These consumables play a crucial role in ensuring the efficiency and accuracy of 2nd generation sequencing platforms, such as Illumina's. 2nd generation sequencing technologies have emerged after Sanger sequencing and are known for their high-throughput capabilities.
The market is divided into four categories based on Application: Cancer Diagnostics, Infectious Disease Diagnostics, Reproductive Health Diagnostics, Pharmacogenomics, Agrigenomics and Others. The market is primarily dominated by the Cancer Diagnostics segment. The utilization of sequencing consumables is of utmost importance in cancer diagnostics as it allows researchers and clinicians to examine the genetic composition of cancer cells and comprehend the fundamental molecular changes.
The market is segmented into four distinct categories according to the end-users they serve: Pharmaceutical and Bio application Companies, Hospitals and Laboratories, Academic Research Institutes, and Others. Each category of end-users possesses unique requirements for sequencing consumables, tailored to their specific applications and research goals.
Sequencing Consumables Market- Geographical Insights
This market is geographically widespread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is expected to be dominated by North America, primarily due to continuous advancements in sequencing technologies and a growing emphasis on genomics research. The region is witnessing continuous innovation in next-generation sequencing (NGS) platforms, single-cell sequencing, and other cutting-edge techniques, which is driving the demand for sequencing consumables. Currently, the short read Illumina sequencing technology accounts for 82% of the bacterial genomes in RefSeq. Furthermore, Illumina technology is also dominant in the production of surveillance genomes, accounting for 99.9% of the cases. North America benefits from a robust research and development ecosystem, with significant investments in genomics and life sciences. Europe, on the other hand, holds the second-largest region for market growth, primarily due to advancements in healthcare development.
The sequencing consumables market is characterized by its dynamic competitive landscape, which is shaped by numerous key players and companies that contribute to the development and provision of consumables for DNA and RNA sequencing. These companies have a global presence and offer a diverse range of products to cater to different sequencing platforms. Illumina, for instance, has recently launched a Global Health Access Initiative aimed at facilitating access to pathogen sequencing tools for public health initiatives in low- and middle-income countries (LMICs). Through this program, Illumina will offer reduced pricing structures for eligible sequencing products to qualified global health funding entities, while also addressing international logistics and supply chain challenges.
In March 2023, leading provider of array-based and DNA sequencing technologies worldwide, Illumina Inc., has revealed that orders for its first product, which is built on its revolutionary Illumina Complete Long Read technology, are now being accepted. Illumina Complete Long Read Prep, Human is a high-performance, long-read, whole-genome sequencing (WGS) test that works with Illumina NovaSeq 6000, NovaSeq X Plus, and NovaSeq X sequencing systems. It provides customers with access to both long- and short-read data on the same Illumina device for the first time ever. Compared to previous long-read options, Illumina Complete Long Reads allows for an easier approach with significantly less DNA input needs.
GLOBAL SEQUENCING CONSUMABLES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Hoffmann-La Roche Ltd
QIAGEN.
Agilent Technologies
Millipore Sigma
Takara Bio Inc
Beckman Coulter, Inc
Eurofins Genomics
Oxford Nanopore Technologies Ltd
Thermo Fisher Scientific, Inc
BGI Genomics
Others