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

Global Sequencing Consumables Market Size and Trends

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.

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- 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.