The Global Sequencing Reagents Market size is expected to reach $24.45 billion by 2031, rising at a market growth of 17.5% CAGR during the forecast period.
The oncology segment leads the market due to the critical role of sequencing technologies in cancer research, diagnosis, and treatment. The ability to perform detailed genetic profiling of tumors allows researchers and clinicians to identify mutations and develop targeted therapies. The increasing incidence of cancer globally, coupled with the transition towards precision medicine, serves as a significant impetus for the utilization of sequencing applications in the field of oncology. Additionally, advancements in sequencing technologies have made these tools indispensable for identifying biomarkers and monitoring treatment responses. The oncology segment witnessed 30% revenue share in the market in 2023.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In 2024, April, Bio-Rad Laboratories, Inc. partnered with Allegheny Health Network to research the use of Bio-Rad’s Droplet Digital PCR (ddPCR) technology for monitoring molecular residual disaease (MRD) in solid tumors. This partnership would enhance sensitivity and precision in detecting MRD, potentially improving patient outcomes through earlier and more accurate monitoring. Moreover, In 2024, March, Eurofins Scientific SE announced the partnership with MGI Tech marking the first European corporate order of the T20 ultra-high throughput sequencer. This partnership aims to enhance precision health initiatives, providing cost-effective sequencing for global research, including WGS, stLFR, and single-cell sequencing, boosting personalized medicine.
Additionally, the increasing investment in genomic research by governments, research institutions, and private organizations has been pivotal in advancing the field of genomics and its applications. Governments worldwide fund large-scale initiatives, such as the All of Us Research Program by the NIH and the Human Genome Project 2.0, which aim to map genetic diversity and personalize medical treatments. Thus, such immense support from governments will drive the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.
The sequencing reagents market is highly competitive, driven by advancements in next-generation sequencing (NGS) technologies and increasing demand for personalized medicine, genomics research, and diagnostics. Key attributes shaping the market include reagent accuracy, compatibility with diverse sequencing platforms, and cost-effectiveness. Companies are innovating to enhance reagent sensitivity, throughput, and ease of use, while reducing sequencing costs. Additionally, factors such as regulatory compliance, supply chain efficiency, and technical support are critical for maintaining competitiveness in this rapidly evolving field.
The oncology segment leads the market due to the critical role of sequencing technologies in cancer research, diagnosis, and treatment. The ability to perform detailed genetic profiling of tumors allows researchers and clinicians to identify mutations and develop targeted therapies. The increasing incidence of cancer globally, coupled with the transition towards precision medicine, serves as a significant impetus for the utilization of sequencing applications in the field of oncology. Additionally, advancements in sequencing technologies have made these tools indispensable for identifying biomarkers and monitoring treatment responses. The oncology segment witnessed 30% revenue share in the market in 2023.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In 2024, April, Bio-Rad Laboratories, Inc. partnered with Allegheny Health Network to research the use of Bio-Rad’s Droplet Digital PCR (ddPCR) technology for monitoring molecular residual disaease (MRD) in solid tumors. This partnership would enhance sensitivity and precision in detecting MRD, potentially improving patient outcomes through earlier and more accurate monitoring. Moreover, In 2024, March, Eurofins Scientific SE announced the partnership with MGI Tech marking the first European corporate order of the T20 ultra-high throughput sequencer. This partnership aims to enhance precision health initiatives, providing cost-effective sequencing for global research, including WGS, stLFR, and single-cell sequencing, boosting personalized medicine.
KBV Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the KBV Cardinal matrix; F. Hoffmann-La Roche Ltd. is the forerunner in the Sequencing Reagents Market. In October, 2023, F. Hoffmann-La Roche Ltd. teamed up with AWS, a cloud computing company, to integrate AI-powered tools into its Navify Digital Pathology platform. This partnership enhanced breast and prostate cancer diagnosis by improving accuracy, efficiency, and turnaround time in pathology labs, leveraging cloud infrastructure for scalability and security. Companies such as Danaher Corporation, Abbott Laboratories, and Agilent Technologies, Inc. are some of the key innovators in Sequencing Reagents Market.
COVID-19 Impact Analysis
The COVID-19 pandemic significantly negatively impacted the sequencing reagents market, especially during its initial phases. Supply chain disruptions due to manufacturing halts and transportation restrictions caused delays in producing and delivering critical reagents, leading to shortages in laboratories worldwide. Many research and diagnostic projects unrelated to COVID-19 were postponed or canceled as resources were redirected toward pandemic-related studies. Since the positive factors surpassed the negative aspects, the pandemic supported the overall growth trajectory of the market.Market Growth Factors
The adoption of sequencing technologies in clinical diagnostics has revolutionized the healthcare landscape, offering unprecedented insights into various diseases' genetic and molecular underpinnings. One of the most significant areas of growth is in the diagnosis of genetic disorders. Traditional methods of identifying genetic abnormalities, such as karyotyping or fluorescence in situ hybridization (FISH), often lacked the resolution to detect subtle or rare mutations.Additionally, the increasing investment in genomic research by governments, research institutions, and private organizations has been pivotal in advancing the field of genomics and its applications. Governments worldwide fund large-scale initiatives, such as the All of Us Research Program by the NIH and the Human Genome Project 2.0, which aim to map genetic diversity and personalize medical treatments. Thus, such immense support from governments will drive the market's growth.
Market Restraining Factors
While technological advancements have considerably reduced the cost of sequencing compared to its early years, it remains prohibitively expensive for many institutions and researchers. The initial investment required for purchasing state-of-the-art sequencing equipment and the recurring expenses of reagents and consumables place these technologies out of reach for smaller laboratories and institutions with limited funding. Hence, the high cost of sequencing technologies and reagents continues to be a significant barrier to their widespread adoption.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations & Agreements.
Driving and Restraining Factors
Drivers
- Rising Applications in Clinical Diagnostics
- Increasing Investment in Genomic Research
- Growing Demand for DNA and RNA Sequencing
Restraints
- High Cost of Sequencing Technologies
- Complexity of Sequencing Workflows
Opportunities
- Expanding Applications in Precision Medicine
- Emergence of Single-Cell Sequencing
Challenges
- High Competition and Market Fragmentation
- Limited Awareness and Expertise
Type Outlook
On the basis of type, the market is divided into library kits, template kits, control kits, sequencing kits, and others. The library kits segment recorded 27% revenue share in the market in 2023. The demand for library kits is driven by their essential function in preparing DNA or RNA samples for sequencing, ensuring high-quality and reliable data output.Application Outlook
By application, the market is segmented into oncology, reproductive health, clinical investigation, agrigenomics & forensics, consumer genomics, and others. The consumer genomics segment garnered 10% revenue share in the market in 2023. Consumer genomics is driven by the increasing public interest in understanding personal genetic information. The growing availability of direct-to-consumer genetic testing kits, supported by advancements in sequencing technologies, has made these services more affordable and accessible.
Technology Outlook
Based on technology, the market is classified into sanger sequencing, next-generation sequencing, and third generation sequencing. The third-generation sequencing segment procured 11% revenue share in the market in 2023. Third-generation sequencing technologies, such as single-molecule real-time (SMRT) sequencing and nanopore sequencing, are gaining traction due to their ability to produce long-read sequences and provide real-time data.End Use Outlook
Based on end use, the market is segmented into academic research, clinical research, hospitals & clinics, pharmaceutical & biotechnology companies, and others. The academic research segment acquired 48% revenue share in the market in 2023. This segment is propelled by the widespread adoption of sequencing technologies in universities and research institutions for genomic studies.Market Competition and Attributes
The sequencing reagents market is highly competitive, driven by advancements in next-generation sequencing (NGS) technologies and increasing demand for personalized medicine, genomics research, and diagnostics. Key attributes shaping the market include reagent accuracy, compatibility with diverse sequencing platforms, and cost-effectiveness. Companies are innovating to enhance reagent sensitivity, throughput, and ease of use, while reducing sequencing costs. Additionally, factors such as regulatory compliance, supply chain efficiency, and technical support are critical for maintaining competitiveness in this rapidly evolving field.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment garnered 26% revenue share in the market in 2023. Europe's market is driven by its strong research infrastructure and significant investments in genomics. The region's focus on advancing personalized medicine and precision healthcare has fueled the adoption of sequencing technologies in academic and clinical settings.Recent Strategies Deployed in the Market
- Oct-2024: Illumina, Inc. has launched the MiSeq i100 Series, featuring the MiSeq i100 and i100 Plus Systems. These affordable, user-friendly benchtop instruments offer rapid sequencing with room-temperature storage, enabling same-day analysis. Building on the MiSeq legacy, they offer enhanced speed and simplicity for both seasoned and new labs.
- Apr-2024: Bio-Rad Laboratories, Inc. partnered with Allegheny Health Network to research the use of Bio-Rad’s Droplet Digital PCR (ddPCR) technology for monitoring molecular residual disaease (MRD) in solid tumors. This partnership would enhance sensitivity and precision in detecting MRD, potentially improving patient outcomes through earlier and more accurate monitoring.
- Apr-2024: Bio-Rad Laboratories, Inc. released the ddPLEX ESR1 Mutation Detection Kit, a highly sensitive multiplexed digital PCR assay for detecting seven ESR1 mutations with 0.01% sensitivity. Compatible with the QX600 System, it provides rapid, simultaneous results from ctDNA or FFPE samples, enhancing oncology research and patient monitoring.
- Mar-2024: Eurofins Scientific SE announced the partnership with MGI Tech marking the first European corporate order of the T20 ultra-high throughput sequencer. This partnership aims to enhance precision health initiatives, providing cost-effective sequencing for global research, including WGS, stLFR, and single-cell sequencing, boosting personalized medicine.
- Oct-2023: F. Hoffmann-La Roche Ltd. teamed up with AWS, a cloud computing company, to integrate AI-powered tools into its Navify Digital Pathology platform. This partnership enhanced breast and prostate cancer diagnosis by improving accuracy, efficiency, and turnaround time in pathology labs, leveraging cloud infrastructure for scalability and security.
- Oct-2023: Revvity, Inc. teamed up with Element Biosciences, Inc. to streamline genomic sequencing workflows. Their collaboration enhances lab processes by offering integrated solutions, including sample collection, nucleic acid extraction, sequencing, and data analysis. The combined system aims to improve research efficiency and expand access to high-quality sequencing globally.
List of Key Companies Profiled
- Agilent Technologies, Inc.
- F.Hoffmann-La Roche Ltd.
- Danaher Corporation (Beckman Coulter, Inc.)
- Abbott Laboratories
- Bio-Rad Laboratories, Inc.
- Quest Diagnostics Incorporated
- Revvity, Inc.
- Eurofins Scientific SE
- Hologic, Inc.Illumina, Inc.
Market Report Segmentation
By Type
- Sequencing Kits
- Library Kits
- Control Kits
- Template Kits
- Other Type
By Technology
- Next-Generation Sequencing
- Third Generation Sequencing
- Sanger Sequencing
By Application
- Oncology
- Reproductive Health
- Clinical Investigation
- Agrigenomics & Forensics
- Consumer Genomics
- Other Application
By End Use
- Academic Research
- Clinical Research
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- Other End Use
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Sequencing Reagents Market by Type
Chapter 6. Global Sequencing Reagents Market by Technology
Chapter 7. Global Sequencing Reagents Market by Application
Chapter 8. Global Sequencing Reagents Market by End Use
Chapter 9. Global Sequencing Reagents Market by Region
Chapter 10. Company Profiles
Companies Mentioned
- Agilent Technologies, Inc.
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation (Beckman Coulter, Inc.)
- Abbott Laboratories
- Bio-Rad Laboratories, Inc.
- Quest Diagnostics Incorporated
- Revvity, Inc.
- Eurofins Scientific SE
- Hologic, Inc.
- Illumina, Inc.
Methodology
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