Sequencing Reagents Global Market Report 2024

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 growth witnessed during the historic period can be ascribed to several factors, including the adoption of sequencing in drug discovery and development, government initiatives aimed at promoting genomics research, the increasing use of sequencing in clinical diagnostics, the rising prevalence of genetic disorders, and the emergence of precision medicine initiatives.

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%. In the forecast period, growth is anticipated due to the increasing focus on cancer genomics research and precision oncology, the expansion of bioinformatics tools and software for data analysis, rising investments in genomics research and healthcare infrastructure, growing demand for personalized medicine, and the widening applications of sequencing in agriculture and livestock. Notable trends expected in the forecast period include the development of portable and benchtop sequencing platforms, the integration of sequencing with other omics technologies, the creation of novel sequencing reagents for epigenetic analysis, advancements in sequencing technologies, and the escalating investments in research and development for innovative sequencing technologies and.

The increasing demand and advancement of personalized medicine are expected to drive the growth of the sequencing reagents market in the coming years. Personalized medicine, also known as precision medicine, revolutionizes medical treatment by tailoring healthcare decisions and interventions to individual patient characteristics. This approach is fueled by advancements in genomics and molecular diagnostics, enabling customized treatments based on individual genetic profiles and disease characteristics. Sequencing reagents are indispensable in personalized medicine as they facilitate precise analysis of individual genetic information for tailored diagnostic and therapeutic interventions. For example, in February 2024, the Personalized Medicine Coalition reported that personalized medicines accounted for over one-third of new U.S. Food and Drug Administration (FDA) drug approvals in 2023, with 16 new personalized treatments approved for rare disease patients, indicating a growing adoption of personalized medicine. Hence, the rincreasing demand and advancement of personalized medicine is driving the growth of the sequencing reagents market.

Key players in the sequencing reagents market are concentrating on developing innovative technologies to maintain a competitive edge. One such advancement is Illumina Complete Long Read technology, which 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. introduced Illumina Complete Long Read Prep, Human, a high-performance, long-read, whole-genome sequencing (WGS) assay compatible with Illumina NovaSeq sequencing systems. This comprehensive workflow enables Long Read sequencing of the human genome, covering sample processing, library construction, and sequencing, allowing researchers to generate long sequencing reads for detailed genomic analysis.

In January 2023, QIAGEN N.V. acquired Verogen for $150 million, expanding on their previous collaboration. This acquisition grants Qiagen distribution rights for Verogen's products, including its GEDmatch genetic code analysis tool and next-generation gene sequencing panels. Verogen, a US-based biotechnology company, specializes in developing and supplying next-generation sequencing-based human identification products.

Major players 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.

North America was the largest region in the sequencing reagents market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in sequencing reagents report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the sequencing reagents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Sequencing reagents are chemicals or compounds employed in various sequencing techniques to determine the precise order of nucleotides in DNA or RNA molecules. These reagents are integral to genetic sequencing methodologies, facilitating the identification of nucleotide sequences in DNA or RNA strands, and enabling precise genetic analysis.

The primary types of sequencing reagents include library kits, template kits, control kits, sequencing kits, and others. Library kits contain reagents used to prepare DNA or RNA samples for sequencing through processes such as fragmentation, adapter ligation, and amplification, which allow researchers to create sequencing-ready libraries. The technologies involved in sequencing include Sanger sequencing, next-generation sequencing, and third-generation sequencing. Applications of these reagents span fields such as oncology, reproductive health, clinical investigation, agrigenomics, and forensics. They serve industry sectors such as research institutes, hospitals and clinics, pharmaceutical and biotechnology companies, and others.

The sequencing reagents market research report is one of a series of new reports that provides sequencing reagents market statistics, including the sequencing reagents industry global market size, regional shares, competitors with the sequencing reagents market share, detailed sequencing reagents market segments, market trends, and opportunities, and any further data you may need to thrive in the sequencing reagents industry. These sequencing reagents market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The sequencing reagents market consists of sales of enzymes, nucleotides, primers, buffers, fluorescent dyes, and cleanup kits. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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