The sequencing reagents from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Sequencing Reagents Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 in the historic period can be attributed to the adoption of sequencing in drug discovery and development, government initiatives to promote genomics research, rising applications of sequencing in clinical diagnostics, increasing 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%. The growth in the forecast period can be attributed to a rise in cancer genomics research and precision oncology, growth of bioinformatics tools and software for data analysis, rising investments in genomics research and healthcare infrastructure, growing demand for personalized medicine, expanding applications of sequencing in agriculture and livestock. Major trends in the forecast period include the development of portable and benchtop sequencing platforms, integration of sequencing with other omics technologies, development of novel sequencing reagents for epigenetic analysis, advancements in sequencing technologies, and increasing investments in research and development for novel sequencing technologies and reagents.
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Scope Of Sequencing Reagents Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sequencing Reagents Market Overview
Market Drivers –
The rising demand and development of personalized medicine are expected to propel the growth of the sequencing reagents market going forward. Personalized medicine, also known as precision medicine, is an innovative approach to medical treatment that tailors healthcare decisions and interventions to the individual characteristics of each patient. The rising demand for personalized medicine is fueled by genomics and molecular diagnostics advancements, enabling tailored treatments based on individual genetic profiles and disease characteristics. Sequencing reagents play a crucial role in personalized medicine by allowing the precise analysis of individual genetic information for tailored diagnostic and therapeutic interventions. For instance, in February 2024, according to the Personalized Medicine Coalition (PMC), a US-based non-profit organization, personalized medicines topped one-third of new U.S. Food and Drug Administration (FDA) drug approvals for the fourth year in 2023. Additionally, in 2023, the FDA approved 16 new personalized treatments for rare disease patients, up from six in 2022. Therefore, the rising demand and development of personalized medicine will drive sequencing reagents market.
Market Trends –
Major companies operating in the sequencing reagents market are focused on developing innovative technology, such as Illumina Complete Long Read technology, to gain a competitive edge in the market. Illumina complete long-read technology is an advanced sequencing technology developed that 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., a US-based biotechnology company, launched Illumina Complete Long Read Prep, Human. The high-performance, long-read, human whole-genome sequencing (WGS) assay is compatible with Illumina NovaSeq X Plus, NovaSeq X, and NovaSeq 6000 Sequencing Systems. Illumina’s Complete Long Read Prep for Humans is a comprehensive workflow facilitating Long Read sequencing of the human genome on Illumina platforms, covering sample processing, library construction, and sequencing. It enables researchers to generate long sequencing reads for detailed genomic analysis, including identifying structural variations and complex genomic regions.
The sequencing reagents market covered in this report is segmented –
1) By Type: Library Kits, Template Kits, Control Kits, Sequencing Kits, Other Types
2) By Technology: Sanger Sequencing, Next Generation Sequencing, Third Generation Sequencing
3) By Application: Oncology, Reproductive Health, Clinical Investigation, Agrigenomics And Forensics, Other Applications
4) By Industry Verticals: Research Institutes, Hospitals and Clinics, Pharmaceutical And Biotechnology Companies, Other Industry Verticals
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Regional Insights –
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 the sequencing reagents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating 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.
Table of Contents
1. Executive Summary
2. Sequencing Reagents Market Characteristics
3. Sequencing Reagents Market Trends And Strategies
4. Sequencing Reagents Market – Macro Economic Scenario
5. Global Sequencing Reagents Market Size and Growth
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32. Global Sequencing Reagents Market Competitive Benchmarking
33. Global Sequencing Reagents Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Sequencing Reagents Market
35. Sequencing Reagents Market Future Outlook and Potential Analysis
36. Appendix
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