GLOBAL SEQUENCING CONSUMABLES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The global sequencing consumables market size is expected to reach US$ 36.98 Bn by 2030, from US$ 7.87 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 24.7% during the forecast period.

Sequencing consumables are products that are used in DNA sequencing workflows. There are three main types of sequencing consumables - libraries preparation kits, sequencing reagents, and sequencing instruments. Library preparation kits are used in the sample preparation step to fragment DNA/RNA and attach sequencing adapters. These kits allow the isolation of DNA/RNA from biological samples and conversion into a library ready for sequencing. Some key library kits are fragmentation, end repair, A-tailing, and ligation kits.

Sequencing reagents include nucleotides, polymerases, and buffers that are essential for the sequencing process. Nucleotides labeled with fluorescent dyes are required for chain termination sequencing methods. Polymerases are needed to drive the amplification and incorporation of labeled nucleotides during sequencing. Common sequencing reagents are those used in Sanger sequencing, next-generation sequencing like Illumina sequencing, and third-generation sequencing platforms such as PacBio and Oxford Nanopore. Each sequencing platform relies on custom reagents and chemistries. Sequencing instruments, such as genetic analyzers and sequencers, are then used to capture the fluorescent signals emitted during sequencing and facilitate the readout of DNA sequences.

Global Sequencing Consumables Market- Regional Insights

• North America is expected to be the largest market for sequencing consumables during the forecast period, accounting for over 35.7% of the market share in 2023. North America has established itself as the dominant regional market for sequencing consumables. The region is home to several leading life sciences companies that are pioneering innovation in sequencing technology. Strong government funding for biomedical research has encouraged rapid technological advancement in genome sequencing. Large research universities and academic medical centers across the US and Canada routinely utilize next-generation sequencing platforms, driving high demand for associated consumables. Standards of healthcare are rising, with genomic testing becoming more integrated into mainstream clinical practice. As reimbursement policies evolve to cover more types of genomic testing applications, the installed base of sequencing instruments is projected to multiply, guaranteeing sustained purchases of consumables.
• Asia Pacific is expected to be the second-largest market for sequencing consumables market, accounting for over 25.2% of the market share in 2023. Asia Pacific meanwhile is earmarked as the fastest growing regional market for sequencing consumables. Several factors contribute to the region's burgeoning growth rate. Countries like China and India are making vast public investments to build out their genomics capabilities as part of ambitious national bioscience development agendas. World-class research institutions are being established, rivalling top Western universities. Local sequencing consumables manufacturers are emerging to serve swelling domestic demand as sequencing costs plummet through innovation and competition. International sequencing companies are also deploying significant resources in Asia seeking to capitalize on the region's large patient pools and burgeoning middle class. As genomic medicine becomes more accessible and sequencing prices dip below $100 per genome, preventative and personalized healthcare are gaining traction even among less affluent populations. The combination of large populations, accelerated uptake of genomic applications across multiple disease areas, and a blossoming regional sequencing industry all underpin Asia Pacific's rise as the upcoming hotbed for sequencing consumable sales globally.
• The sequencing consumables market in Europe is experiencing robust growth, driven by advancements in genomic research, increasing demand for personalized medicine, and a rising focus on precision healthcare. Key factors contributing to the market expansion include growing investments in life sciences research, expanding applications of next-generation sequencing technologies, and a supportive regulatory environment fostering genomics initiatives across European countries. As a result, the region's sequencing consumables market is poised for continued development in the foreseeable future.

Figure 1. Global Sequencing Consumables Market Share (%), By Region, 2023

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Analyst’s Views: The sequencing consumables market is experiencing steady growth driven by factors such as increasing R&D investments in genomics and biotechnology fields. The falling prices of sequencing equipment and technologies are also boosting the demand for various sequencing consumables kits, reagents, and other products that are used in the sequencing process. The rise of precision medicine and personalized therapies will further propel the need for genomic sequencing studies. However, stringent regulations related to the use of DNA/genetic data pose a challenge to the market. Geography-wise, North America currently dominates the sequencing consumables market owing to robust research funding and the presence of leading global vendors. Asia Pacific is expected to witness the highest growth over the coming years due to increasing healthcare expenditure, growing genomics research in China and India, and expanding base of genomic and biopharma companies. Some of the key players operating in the market are investing in new product launches to consolidate their position. Partnerships with research institutes and hospitals are helping vendors increase their geographical footprint. At the same time, vendors are developing consumable kits compatible with different sequencing platforms to cater to a wide customer base. However, pricing pressure remains a key concern for reagents and consumables manufacturers.

Global Sequencing Consumables Market- Drivers

• Rising investments in genomics and pharmaceutical R&D: The sequencing consumables market has seen tremendous growth over the past few years owing to significant increases in funding directed towards genomics and pharmaceutical research and development. Next generation sequencing (NGS) technologies have advanced rapidly and become more affordable, fueling greater adoption across biotech and pharmaceutical applications. As sequencing capabilities expand to tackle more complex questions in areas such as precision medicine, crop improvement, and disease research, demand is surging for the enzymes, reagents, and other chemicals needed to power sequencing workflows. This rising R&D investment shows no signs of slowing. For example, according to data from the National Institutes of Health, funding for genomics research jumped from $5.1 billion in 2020 to over $6 billion in 2022. A similar trend is seen globally as countries focus funding priorities on precision healthcare and treatments tailored to an individual's genetic code. This infusion of capital is allowing scientists to pursue sequencing-based projects on a larger scale than ever before, fundamentally accelerating our understanding of health and disease.
• Growing applications of NGS in precision medicine and diagnostics: With the increasing adoption of Next Generation Sequencing (NGS) in precision medicine and diagnostics, the demand for sequencing consumables is growing steadily. NGS allows analysis of entire genomes and gene expression profiles, enabling customized treatment options based on individual genetics. This is empowering healthcare providers to deliver targeted and more effective therapies. As NGS becomes integrated into clinical decision making, it is revolutionizing how diseases like cancer are diagnosed and treated. Pharmaceutical companies are leveraging the vast amounts of genomic and biological data generated through NGS to develop precision drugs. Through biomarker analysis of a patient's genetic profile, doctors can select the treatment approach most likely to be effective. This reduces trial-and-error and speeds up discovery of new medicines. Several drugmakers currently offer companion diagnostics along with personalized therapies that are tailored for specific mutations, genetic expressions or protein biomarkers. For example, AstraZeneca developed tagrisso, a drug to treat non-small cell lung cancer caused by mutations in EGFR gene. As precision medicine grows in applications, healthcare systems and clinical labs are increasingly relying on NGS as a primary diagnostic technique. According to a report by National Human Genome Research Institute, around 75% of labs in the U.S. currently use NGS for patient care. This increasing clinical adoption will boost the demand for sequencing consumables like prepared libraries, sequencing kits and reagents. Pharmaceutical and biotech firms are also investing heavily to establish genomic biobanks and sequencing centers to gather genetic data to aid future research. This is expected to further fuel the ongoing expansion of the global sequencing consumables market in the coming years.
• Technological advancements in sequencing platforms: Technological advancements in genome sequencing platforms are fueling the growth of the global sequencing consumables market. Next-generation sequencing (NGS) platforms have become more high-throughput, accurate, and affordable in recent years. The development of portable and easy-to-use sequencing devices have made DNA sequencing accessible to wider biomedical research community. This has significantly increased the demand for sequencing consumables like sample preparation kits, reagents and chips required for sample extraction, library preparation and sequencing runs. Several strides have been made to automate workflow processes and reduce hands-on time. Many leading platform providers have developed integrated solutions with plug-and-play consumables that perform multiple steps from nuclei isolation to DNA library preparation. Such consumables kits tailored for specific NGS platforms have gained immense popularity. They offer reproducibility, reduce contamination risks and ensure compatibility with genetics analyzers. Researchers can now generate high quality sequencing data with minimal technical expertise through simplified, standardized consumable products. This drives repeated sales and keeps the consumables market well-stocked. Advances in long-read sequencing technologies are also opening up new horizons. Third-generation single-molecule real-time (SMRT) sequencing supports applications like structural variation detection, de novo genome assembly and isoform sequencing which were not possible before. However, these technologies require specialized reagents, enzymes and preparatory kits. According to National Human Genome Research Institute (NHGRI), the number of whole human genomes sequenced each year is expected to grow from hundreds in 2020 to tens of thousands by 2025. This will spur the demand for specialized sequencing consumables including single-cell/single-molecule workflow products.

Global Sequencing Consumables Market- Opportunities

• Cloud computing and cloud storage solutions for genomics data: Cloud computing and cloud storage solutions could open up huge opportunities in the global sequencing consumables market. With vast amounts of complex genomics data being generated every day through populations-scale sequencing projects, managing, analyzing and sharing this data effectively is a major challenge. Cloud-based platforms provide scalable and elastic data storage, advanced analytics tools as well as collaboration capabilities that are well-suited to address these challenges. National and international genome projects have petabytes of genomics data that requires storage, computing and collaboration over long periods of time. Cloud solutions ensure that this genomic big data is securely stored, accessible to authorized users globally and computations can be performed on-demand. For example, the Global Alliance for Genomics and Health aims to accelerate genomic medicine by facilitating international sharing and analysis of genomic and clinical data from millions of individuals while protecting privacy. Cloud-based data repositories and analytics platforms will be crucial to enable this vision.
• Growing genomics applications in agricultural industries: Genomics applications in agriculture holds tremendous potential as it can revolutionize food production methods and improve quality and yield. As the world population continues to grow rapidly, there is increasing demand for sustainable food production methods. Genomic sequencing technologies allow screening crops and livestock for desired genetic traits like drought and pest resistance, higher nutrition, longer shelf life etc. This helps farmers breed new crop varieties and animals that are more adaptable and resilient to changing climate. For example, genomic sequencing is being used to develop climate-ready wheat varieties in South Asia. Projects like Rapid Generation Advancement Facility (RGF) led by International Maize and Wheat Improvement Center (CIMMYT) uses molecular marker-assisted breeding to build drought and heat tolerance in wheat. As per CIMMYT data, new wheat lines developed through genomics are showing 15-30% higher yields compared to traditional varieties under water stress conditions in Bangladesh, India and Nepal. Application of genomics is also helping livestock farmers breed high quality dairy cows, disease resistant pigs and high yielding aquaculture species. For instance, genomic selection is helping breed disease resistant salmon with 20-30% better growth rate in Norway according to a 2020 study by Norwegian University of Life Sciences. This is improving sustainability and profitability of salmon farming industry.

Global Sequencing Consumables Market- Trends

• Launch of third generation sequencing platforms: The launch of third-generation sequencing platforms is having a significant impact on the global sequencing consumables market. These new platforms provide cheaper and faster sequencing with longer reads compared to previous generation technologies. This helps analyze complex genome structures like repeat regions and provides accurate inferences. The ability to obtain long-read, high-quality sequencing data at reduced costs is opening up new genomic applications and driving sequencing adoption across various industries. Pharmaceutical and biotech companies can more easily discover and validate drug targets. Clinical researchers and healthcare providers now have tools to better understand diseases and enable precision medicine. Agricultural science is advancing with new traits discovered for improving crop yields. As sequencing becomes more affordable and accessible, the demand for sequencing consumables like library preparation kits, template preparation kits, and consumables for sample handling and data storage is increasing substantially. According to the US Food and Drug Administration, the number of US FDA approved clinical trials involving genetic sequencing increased by 26% from 2020 to 2021, with many focused on conditions like cancer and rare genetic disorders. This rise in clinical genomic applications is stimulating greater need for sequencing reagent and consumables supplies.
• Growing clinical adoption of NGS-based tests: The growing adoption of next generation sequencing (NGS) based tests is significantly influencing the global sequencing consumables market. As NGS technologies become more widely used in clinical settings for applications such as cancer diagnosis, pharmacogenomics and non-invasive prenatal testing, it is leading to higher demand for sequencing consumables. Sequencing consumables include reagents such as sample preparation kits, library preparation kits and sequencing kits that are required for the entire NGS workflow. Clinical users typically require sequencing consumables that can offer high accuracy, reproducibility and scalability of results as they are dealing with critical medical applications. This focus on reliability has led to sequencing consumable manufacturers optimizing their product quality according to rigorous clinical standards. They are also developing new consumables offering simplified workflow experience and automated handling suited for clinical laboratories. For example, certain library preparation kits now come with pre-spotted reagents in microfluidic cards, minimizing hands-on time and risk of contamination. The increased clinical acceptance is substantiated by growing clinical trial evidence of NGS impact. As of March 2022, the Genomic Medicine Trials Collaborative funded by National Institutes of Health reports over 195 active or completed clinical trials using NGS worldwide for applications like screening for cancer risk genes, optimizing cancer treatment, and analyzing infectious pathogens. This ongoing research demonstrates the effectiveness of NGS and is propelling further influx of sequencing platforms and assays into clinical settings. The clinical trial data encourages technological advancements that will expand the amenable patient populations, cementing NGS role in disease management. Overall, the rising integration of NGS in clinical practice points towards continued demand rise for sequencing consumables in the coming years.

Global Sequencing Consumables Market - Restraints

• High equipment costs: The high equipment costs are proving to be a major restraint for the growth of the global sequencing consumables market. Sequencing instruments require huge capital investments and their maintenance costs are also significant. Next-generation sequencing platforms can cost anywhere between US$100,000 to over US$1 million depending on the type and capabilities of the instrument. In addition to the upfront costs, laboratories must also budget for expensive consumables, reagents and other supplies that are needed to operate the instruments on a regular basis. A typical sequencing run may consume consumables worth US$1,000 or more. For many small to mid-sized research laboratories and testing facilities in developing countries, these high capital and operational expenditures associated with sequencing equipment pose severe financial challenges. The need to recover costs through high sample throughput places practical limitations on the kind of sequencing applications that can be supported. Complex whole genome sequencing projects involving many patient samples may not be financially viable on existing sequencing platforms. This discourages commercialization of sequencing for clinical diagnostics and precision medicine where the costs have to be within the means of healthcare systems and individual payers. Academic institutes and public health organizations in low and middle-income countries also find it difficult to set up sequencing facilities due to prohibitive expenses. For example, as of 2020, only three African countries (South Africa, Senegal and Nigeria) had established next-generation sequencing capabilities according to data from the African Society for Laboratory Medicine. The high capital requirements for sequencing tools have clearly hindered broader dissemination of genomic technologies on the continent.
• Shortage of skilled professionals: Shortage of skilled professionals is indeed posing a challenge for the growth of global sequencing consumables market. With sequencing technologies becoming more complex and advanced, there is a rising need for properly trained scientists, researchers and technicians who understand various aspects of sequencing workflows. However, training and skills development in the field of genomic sequencing and analysis has not kept pace with the rapid technological advancements. Most educational institutions and training programs are still focusing their curriculum on more traditional fields of biology and lack comprehensive courses that integrate both wet lab techniques as well hands-on experience with bioinformatics tools and data analysis methods that are core to modern sequencing technologies. While enrollment in microbiology, genetics and biotechnology courses is increasing over the years, there still exists a major gap between the number of graduates entering this domain and the talent required by industry, research institutes and healthcare facilities that are leveraging sequencing for diverse applications. Moreover, due to the highly technical and interdisciplinary nature of genomics workflows, professionals require continuous upskilling to stay abreast of new sequencing platforms, assay kits, target enrichment methods, cloud computing solutions and bioinformatics algorithms. However, opportunities for advanced training and certifications in these specialized areas remain limited. Regional disparities further aggravate this shortage of skilled manpower in developing parts of the world. According to a recent report by the World Health Organization, Africa faces an acute deficit of over 200,000 diagnostic healthcare workers including specialists needed for genetic and genomic testing scale up programs. Unless concerted efforts are made by all stakeholders to boost workforce development programs globally, demand for sequencing consumables may outpace supply in the long run.

Figure 2. Global Sequencing Consumables Market Share (%), By Product Type, 2023

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Global Sequencing Consumables Market- Recent Developments

Key Developments

• On July 5, 2023, QIAGEN, one of the leading global providers of Sample to Insight solutions announced the launch of the QIAseq Normalizer Kits that gives researchers a fast, convenient, and cost-effective method to pool different DNA libraries for best-quality results from next-generation sequencing (NGS) runs
• In November 2022, Element Biosciences, Inc., a developer of an innovative DNA sequencing platform disrupting the genomics industry, announced the availability of its Element LoopSeq long-read sequencing technology kits for AVITI, giving the Element AVITI System the power of both short- and long-read sequencing on the same instrument
• In October 2022, PacBio, one of the leading developer of high-quality, highly accurate sequencing solutions, announced the launch of Revio long-read sequencing system, which will enable customers to dramatically scale their use of PacBio’s celebrated HiFi sequencing technology

Business Development Activities by the Market Players

• On October 16, 2023, Revvity, Inc., life science and Diagnostics Company and Element Biosciences, Inc., multi-disciplinary startup focused on innovating genetic analysis tools for the research market. announced a collaboration to introduce workflow solutions that save time and effort required for genomic analysis of samples
• On August 7, 2023, PacBio, one of the leading developer of high-quality, highly accurate sequencing solutions and GeneDx, one of the leader in delivering improved health outcomes through genomic and clinical insights announced a research collaboration with the University of Washington to study the capabilities of HiFi long-read whole genome sequencing (WGS) to increase diagnostic rates in pediatric patients with genetic conditions.
• On May 9, 2023, Thermo Fisher Scientific, analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical and biotechnology services company and Pfizer, one of the global pharmaceutical company announced that they have entered into a collaboration agreement to help increase local access to next-generation sequencing (NGS)-based testing for lung and breast cancer patients in more than 30 countries across Latin America, Africa, the Middle East, and Asia Pacific where advanced genomic testing has previously been limited or unavailable.

Top Companies in the Global Sequencing Consumables Market

• F.Hoffmann-La Roche Ltd.
• QIAGEN
• Agilent Technologies
• Millipore Sigma
• Takara Bio Inc.
• Beckman Coulter, Inc.
• Eurofins Genomics
• Oxford Nanopore Technologies Ltd.
• Thermo Fisher Scientific, Inc.
• BGI Genomics

Definition: Sequencing consumables refer to a wide range of products and materials utilized in the process of DNA or RNA sequencing. These consumables encompass various components essential for sequencing workflows, such as reagents, enzymes, buffers, primers, nucleotides, plates, tubes, filters, and other disposable laboratory supplies.