The global sequencing consumables market size was estimated at around USD 6.96 billion in 2022 and it is projected to hit around USD 54.5 billion by 2032, growing at a CAGR of 22.85% from 2023 to 2032. The sequencing consumables market in the United States was accounted for USD 3.7 billion in 2022.
Key Pointers
- North America dominated the market with a revenue share of 52% in 2022.
- By Product, the kits led the market with a revenue share of 81% in 2022.
- By Product, the reagents segment is expected to grow at a CAGR of 20.25% from 2023 to 2032.
- By Platform, the second-generation sequencing consumables segment contributed more than 67% of market share in 2022.
- By Platform, the third-generation sequencing consumables segment is expected to expand at the highest CAGR of 43.93% between 2023 to 2032.
- By Application, the cancer diagnostics segment generated the largest market share of 27% in 2022.
- By Application, the pharmacogenomics segment is predicted to grow at the remarkable CAGR of 23.44% during the forecast period.
- By End-use, the hospitals and laboratories segment generated the maximum market share of 37% in 2022.
The sequencing consumables market stands as a critical component within the rapidly expanding realm of genomic research and molecular diagnostics. Characterized by an escalating demand for high-throughput sequencing techniques, this market has become instrumental in driving advancements in personalized medicine and pushing the boundaries of genetic exploration.
Market Growth
The growth trajectory of the sequencing consumables market is propelled by a confluence of key factors that collectively underscore its significance in the realm of genomics. First and foremost, the escalating demand for personalized medicine has emerged as a primary driver, urging a deeper exploration of individual genetic codes. Additionally, substantial investments in genomics research have infused the market with both financial backing and a spirit of innovation, fostering the development of advanced consumables. The continuous evolution of sequencing technologies, particularly next-generation sequencing (NGS) platforms, further fuels market expansion, demanding consumables that ensure precision, reproducibility, and compatibility. Collaborative efforts between industry leaders and research institutions amplify growth, fostering an environment where cutting-edge consumables meet the demands of evolving genetic research.
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Report Scope of the Sequencing Consumables Market
| Report Coverage | Details |
| Growth Rate from 2023 to 2032 | CAGR of 22.85% |
| Market Revenue by 2032 | USD 54.5 billion |
| Revenue Share of North America in 2022 | 52% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units)Companies Covered |
| Companies Covered | 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 |
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Market Dynamics
Drivers
Rising Demand for Personalized Medicine:
The increasing emphasis on personalized medicine, tailoring treatments to individual genetic profiles, is a significant driver for the Sequencing Consumables Market. As healthcare shifts towards more precise and targeted approaches, the demand for consumables supporting genomic research and diagnostics experiences a notable surge.
Investments in Genomics Research:
Substantial investments in genomics research contribute to market growth by fostering innovation in sequencing consumables. Funding initiatives and collaborations between research institutions and industry players provide the financial impetus needed for the development of advanced consumables, enhancing their quality and performance.
Restraints
Ethical and Regulatory Hurdles:
Ethical considerations surrounding genomic research, including issues related to consent, ownership, and potential misuse of genetic information, pose regulatory challenges. Adhering to evolving ethical standards and navigating complex regulatory landscapes can slow down the pace of market expansion.
Limited Accessibility in Developing Regions:
The sequencing consumables market faces barriers in terms of accessibility, particularly in developing regions with limited resources. Unequal distribution of advanced sequencing technologies and consumables hampers the ability of researchers in these areas to actively participate in genomics research.
Opportunities
Advancements in Nanopore Sequencing:
The ongoing advancements in nanopore sequencing technologies present a promising opportunity for sequencing consumables. As nanopore-based methods gain traction for their potential in real-time, long-read sequencing, consumables tailored to optimize and complement these technologies stand to capture a growing market share.
Expansion of Point-of-Care Sequencing:
The increasing interest in point-of-care sequencing, driven by the need for rapid and on-site genomic analysis, creates opportunities for consumables designed for portable and user-friendly platforms. This expansion into decentralized settings opens avenues for consumable manufacturers to cater to a broader range of applications and users.
Product Insights
Kits dominated the market with a revenue share of 81% in 2022. The dominance of the segment is due to their convenience, efficiency, and comprehensive nature. By providing pre-optimized and quality-controlled components, kits reduce the risk of errors and variability, making them attractive to users seeking reliable and standardized results. Hence, the ease of use and reduced hands-on time associated with kits make them particularly well-suited for high-throughput sequencing. Key players are investing in the development of innovative kits to meet their heightened demand in the market. In December 2021, Singular Genomics Systems, Inc. launched its next-generation sequencing (NGS) G4 kit, which includes multiple cycle configurations in each consumable kit, providing greater flexibility for various applications.
The reagents segment is anticipated to grow at a CAGR of 20.25% from 2023 to 2032. Reagents play a fundamental role in DNA and RNA profiling, serving as crucial elements in sample preparation, amplification, and profiling procedures. With the continuous advancement and diversification of profiling technologies, there is an increasing demand for specialized reagents customized for specific applications, like library preparation and target enrichment. Sequencing consumable reagents produce various layers of genomic data vital for drug development, ranging from studying genomic alterations to profiling the transcriptome. This versatility is anticipated to drive substantial growth in this market segment.
Platform Insights
The second-generation sequencing consumables segment contributed the largest market share of 67% in 2022. 2nd generation sequencing consumables are integral components in workflows that include technologies such as Illumina’s sequencing platforms. These consumables are meticulously crafted to support the specific requirements of short-read sequencing methods, encompassing a spectrum of reagents and kits essential for sample preparation, library construction, and subsequent sequencing reactions. The popularity of 2nd generation platforms in genomics research has significantly propelled the demand for consumables that can seamlessly integrate with these high-throughput systems.
The third-generation sequencing consumables segment is anticipated to grow at the fastest CAGR of 43.93% from 2023 to 2032. 3rd generation sequencing consumables mark a paradigm shift. Catering to platforms like those developed by Pacific Biosciences (PacBio) and Oxford Nanopore Technologies, these consumables are tailored for long-read sequencing methodologies. The unique challenges posed by the extended read lengths and real-time sequencing capabilities of 3rd generation platforms necessitate consumables with a distinct set of characteristics. Reagents and kits designed for sample preparation, as well as specialized buffers and enzymes, play a critical role in maximizing the potential of long-read sequencing technologies.
Application Insights
The cancer diagnostics segment generated the maximum market share of 27% in 2022. Within the context of cancer diagnostics, sequencing consumables play an indispensable role in unraveling the intricate genomic landscape of tumors. Sample preparation kits and reagents, meticulously designed for accuracy and sensitivity, enable researchers and clinicians to delve into the genetic mutations, alterations, and signatures that characterize various cancers. The precision offered by sequencing consumables in cancer diagnostics not only aids in accurate disease classification but also informs treatment decisions by identifying potential therapeutic targets.
The pharmacogenomics segment is projected to exhibit a lucrative CAGR of 23.44% over the forecast period. In the domain of pharmacogenomics, sequencing consumables contribute significantly to the realization of tailored and efficient drug therapies. These consumables facilitate the exploration of an individual’s genetic makeup, allowing for the identification of genetic variations that influence drug metabolism, efficacy, and potential adverse reactions. Pharmacogenomic insights, driven by the meticulous use of consumables, empower healthcare providers to prescribe medications with greater precision, minimizing adverse effects and optimizing therapeutic outcomes.
End-use Insights
The hospitals and laboratories segment captured the maximum market share of 37% in 2022. In hospitals and laboratories, sequencing consumables serve as indispensable tools in the diagnosis and monitoring of various genetic disorders and diseases. Sample preparation kits and reagents form the backbone of genomic workflows, enabling healthcare professionals to obtain accurate and reliable genetic information from patient samples. The high-throughput nature of sequencing consumables aligns seamlessly with the demands of clinical settings, facilitating rapid and precise analysis critical for informed treatment decisions.
Simultaneously, academic research institutes stand as crucibles of innovation and discovery, driving advancements in genomics and molecular biology. Within these research-intensive environments, sequencing consumables contribute to the exploration of fundamental biological questions, the identification of novel genes, and the elucidation of intricate genetic pathways. Researchers at academic institutions leverage consumables to conduct experiments, generate sequencing data, and contribute to the collective knowledge shaping the understanding of genetic phenomena.
Regional Insights
North America dominated the market with a revenue share of 52% in 2022. In North America, a stronghold for innovation and technological advancements, the sequencing consumables market thrives on a robust infrastructure and substantial investments in research and development. The region’s leading position is further accentuated by a high prevalence of genomics-focused initiatives and a strong presence of key industry players. The demand for cutting-edge sequencing consumables in North America aligns with the region’s commitment to precision medicine and its leadership in driving genomic discoveries.
Sequencing Consumables Market Report Segmentations:
By Product
- Kits
- DNA Library Preparation
- RNA Library Preparation
- Target Enrichment
- Library Quantification
- Purification & Quality Control
- Others
- Reagents
- Sample Prep
- Library Preparation And Amplification
- Sequencing
- Accessories
- Collection Tubes
- Plates
- Others
By Platform
- 1st Generation Sequencing Consumables
- 2nd Generation Sequencing Consumables
- 3rd Generation Sequencing Consumables
By Application
- Cancer Diagnostics
- Infectious Disease Diagnostics
- Reproductive Health Diagnostics
- Pharmacogenomics
- Agrigenomics
- Others
By End-use
- Pharmaceutical And Biotechnology Companies
- Hospitals And Laboratories
- Academic Research Institutes
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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