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Sequencing Consumables Market Trends

Report ID: GMI8016
Published Date: Feb 2024
Report Format: PDF

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Sequencing Consumables Market Trends

The increasing demand for personalized medicine has significantly contributed to the growth of the sequencing consumables industry. Personalized medicine, also known as precision medicine, involves tailoring medical treatments to the individual characteristics of each patient, including their genetic makeup.

Personalized medicine relies on obtaining comprehensive genomic information from patients. This includes identifying genetic variations, mutations, and other genomic markers that may influence disease susceptibility, progression, or response to specific treatments.
Sequencing consumables play a pivotal role in extracting, preparing, and processing DNA or RNA samples for sequencing, enabling the generation of the genomic data required for personalized treatment decisions.
In oncology, precision medicine is particularly prominent. Cancer genomics involves analyzing the genetic alterations in a patient's tumor to identify specific mutations that may be targeted by personized treatment. Such benefits through target therapies will further stimulate the market growth.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Market size for sequencing consumables was USD 7 billion in 2023 and is expected to exceed USD 39.8 billion by 2032 owing to the NGS platforms becoming more widely adopted across diverse applications, such as research, diagnostics, and clinical genomics worldwide.

The kits product type segment in the sequencing consumables industry is expected to register 22.4% CAGR from 2024-2032 due to the increasing interest in single-cell omics, leading to the rise in the availability of single-cell sequencing kits.

North America industry for sequencing consumables recorded USD 3.2 billion in 2023 and is expected to register a commendable CAGR from 2024-2032 due to increasing strategic partnerships and collaborations to expand product offerings and market presence in the region.

Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, F Hoffmann-La Roche Ltd., Illumina, Inc., New England Biolabs, PerkinElmer, Inc., Qiagen N.V., Takara Bio Inc., and Thermo Fisher Scientific, Inc. are some of the major sequencing consumable companies worldwide.