Global Sequencing Consumables Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company's Global Sequencing Consumables Market Size, Share And Growth Analysis For 2024-2033

LONDON, GREATER LONDON, UK, July 31, 2024 /EINPresswire.com/ -- The sequencing consumables market has experienced robust growth in recent years, expanding from $7.74 billion in 2023 to $9.79 billion in 2024 at a compound annual growth rate (CAGR) of 26.5%. The growth in the historic period can be attributed to increased number of drug development activities, increased prevalence of genetic disorders and target diseases, increased use of miniaturized portable instruments, high use of biomarker profiling, high demand for personalized medicine, and the increased number of cancer patients.

Strong Future Growth Anticipated
The sequencing consumables market is projected to continue its strong growth, reaching $25.34 billion in 2028 at a compound annual growth rate (CAGR) of 26.8%. The growth in the forecast period can be attributed to rise in demand for rapid and accurate diagnosis of disease, growing adoption of real-time polymerase chain reaction, the growing demand for rapid and on-site diagnostic testing, rise in infectious disease outbreaks, and demand for companion diagnostics.

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Growth Driver Of The Sequencing Consumables Market
The rising prevalence of genetic diseases is expected to propel the growth of the sequencing consumables market going forward. Genetic diseases are disorders caused by abnormalities in an individual's DNA or genes, often inherited from their parents. The rising prevalence of genetic diseases is attributed to factors such as increased awareness, improved diagnostics, and changing environmental conditions. Sequencing consumables are utilized in genetic diseases for DNA extraction, library preparation, sequencing, and analysis to identify genetic variants associated with disease.

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Major Players And Market Trends
Key players in the sequencing consumables market include F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Merck KGaA, Becton, Dickinson and Company, Agilent Technologies Inc.
Major companies operating in the sequencing consumables market are focused on developing innovative solutions, such as human whole-genome sequencing (WGS) assays, to enhance accuracy, efficiency, and speed in genomic analysis. Human whole-genome sequencing (WGS) assays involve the comprehensive analysis of an individual's entire genome, including all of their DNA, to identify genetic variations, mutations, and biomarkers associated with health, disease risk, and treatment response.

Segments:
1) By Product: Kits, Reagents, Accessories
2) By Platform: 1st Generation Sequencing Consumables, 2nd Generation Sequencing Consumables, 3rd Generation Sequencing Consumables
3) By Application: Cancer Diagnostics, Infectious Disease Diagnostics, Reproductive Health Diagnostics, Pharmacogenomics, Agrigenomics, Others Application
4) By End-Use: Pharmaceutical And Biotechnology Companies, Hospitals And Laboratories, Academic Research Institutes, Other End-Uses

Geographical Insights: North America Leading The Market
North America was the largest region in the sequencing consumables market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sequencing consumables market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Sequencing Consumables Market Definition
Sequencing consumables refer to the various reagents, kits, and materials used during the DNA or RNA sequencing. These consumables are essential for preparing, amplifying, and analyzing genetic samples in sequencing workflows. Sequencing consumables are designed to work with specific sequencing platforms and technologies, ensuring genomic data generation's accuracy, efficiency, and reliability.

Sequencing Consumables Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Sequencing Consumables Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sequencing consumables market size, sequencing consumables market drivers and trends, sequencing consumables market major players, sequencing consumables competitors' revenues, sequencing consumables market positioning, and sequencing consumables market growth across geographies. The sequencing consumables market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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