The global sequencing reagents market size is expected to reach USD 23.33 billion by 2030, registering a CAGR of 17.83% from 2024 to 2030. Emergence of advanced and rapid high-throughput technologies, such as next-generation sequencing (NGS) and third-generation sequencing (TGS), for use in clinical applications provides lucrative growth avenues.
Moreover, a confluence of factors such as advent of targeted therapies in oncology and other clinical fields, development of companion diagnostics and precision medicine, and a significant reduction in the cost of genetic sequencing has increased the installation of NGS platforms throughout the globe. This, in turn, positively influences revenue generation for the market.
A substantial number of companies are using high-throughput technologies for drug discovery, which demands the use of genetic sequencing technologies. In addition, the application of NGS to accelerate early identification of autoimmune disorders is expected to drive the market. Moreover, parallel innovations in biomedical sciences have contributed to the growth of the NGS market.
Players in the industry are focused on in-depth research and development of new and effective reagents to stay ahead in the market. For instance, in October 2018, F. Hoffmann-La Roche AG introduced three NGS AVENIO Tumor Tissue Analysis Kits for detection of mutation in tumors. Similarly, in October 2019, QIAGEN launched an RNA-seq library preparation kit called QIAseq FastSelect RNA Removal Kit, designed for NGS. Companies are also expanding their businesses and setting up new facilities across the globe to gain a stronger foothold. For instance, in January 2019, BGI’s subsidiary, MGI, installed 1,000 sequencers in 16 countries and opened an early access program for MGISEQ-T7 sequencer.
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Moreover, a confluence of factors such as advent of targeted therapies in oncology and other clinical fields, development of companion diagnostics and precision medicine, and a significant reduction in the cost of genetic sequencing has increased the installation of NGS platforms throughout the globe. This, in turn, positively influences revenue generation for the market.
A substantial number of companies are using high-throughput technologies for drug discovery, which demands the use of genetic sequencing technologies. In addition, the application of NGS to accelerate early identification of autoimmune disorders is expected to drive the market. Moreover, parallel innovations in biomedical sciences have contributed to the growth of the NGS market.
Players in the industry are focused on in-depth research and development of new and effective reagents to stay ahead in the market. For instance, in October 2018, F. Hoffmann-La Roche AG introduced three NGS AVENIO Tumor Tissue Analysis Kits for detection of mutation in tumors. Similarly, in October 2019, QIAGEN launched an RNA-seq library preparation kit called QIAseq FastSelect RNA Removal Kit, designed for NGS. Companies are also expanding their businesses and setting up new facilities across the globe to gain a stronger foothold. For instance, in January 2019, BGI’s subsidiary, MGI, installed 1,000 sequencers in 16 countries and opened an early access program for MGISEQ-T7 sequencer.
Sequencing Reagents Market Report Highlights
- Next-Generation sequencing dominated the market and accounted for a share of 89.9% in 2023. Next-generation sequencing (NGS) is extensively utilized in molecular diagnostics, pathology, and clinical research due to its cost efficiency and high throughput.
- Sequencing kits segment dominated the market and accounted for a share of 35.9% in 2023 owing to the availability of major high-throughput platforms such as Illumina's MiniSeq, MiSeq, iSeq, NextSeq, HiSeq X, and NovaSeq series; Thermo Fisher Scientific's PGM, IonS5, and Ion Proton system; and Oxford Nanopore Technologies plc's MinION, GridION X5, and PromethION.
- The oncology segment dominated the market and accounted for a share of 26.1% in 2023 due to high usage of sequencing reagents for clinical research and the advancement of cancer diagnostics and therapeutics.
- Academic research segment dominated the market and accounted for a share of 51.7% in 2023 owing to the large number of universities and research centers offering molecular biology courses that extensively utilize next-generation sequencing (NGS) techniques.
- North American sequencing reagents market dominated the market with revenue share of 49.73% in 2023 due to the high demand for sequencing reagents in the region.
- Asia Pacific sequencing reagents market is anticipated to witness the fastest growth of 19.2% over the forecast period. This growth owes to the significantly increasing investments in genomics-focused biomedical research across the region.
The leading players in the Sequencing Reagents market include:
- Thermo Fisher Scientific Inc.
- Illumina, Inc.
- QIAGEN
- BGI
- PacBio
- F. Hoffmann-La Roche Ltd
- Oxford Nanopore Technologies plc.
- Agilent Technologies, Inc.
- Standard BioTools (Fluidigm Corporation)
- Integrated DNA Technologies, Inc. (ArcherDX, Inc.)
- Takara Bio Inc.
- Meridian (Bioline)
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Sequencing Reagents Market Variables, Trends, & Scope
Chapter 4. Sequencing Reagents Market: Technology Estimates & Trend Analysis
Chapter 5. Sequencing Reagents Market: Type Estimates & Trend Analysis
Chapter 6. Sequencing Reagents Market: Application Estimates & Trend Analysis
Chapter 7. Sequencing Reagents Market: End Use Estimates & Trend Analysis
Chapter 8. Sequencing Reagents Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
Companies Mentioned
The leading players in the Sequencing Reagents market include:- Thermo Fisher Scientific Inc.
- Illumina, Inc.
- QIAGEN
- BGI
- PacBio
- F. Hoffmann-La Roche Ltd
- Oxford Nanopore Technologies plc.
- Agilent Technologies, Inc.
- Standard BioTools (Fluidigm Corporation)
- Integrated DNA Technologies, Inc. (ArcherDX, Inc.)
- Takara Bio Inc.
- Meridian (Bioline)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | September 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 7.48 Billion |
| Forecasted Market Value ( USD | $ 23.33 Billion |
| Compound Annual Growth Rate | 17.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
