DUBLIN–(BUSINESS WIRE)–The “Sequencing Kits Market by Type Technology Application End User – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global sequencing kits market is projected to reach $21.9 billion by 2030, at a CAGR of 15.3% from 2023 to 2030.
The growth of the sequencing kits & reagents market is driven by the increasing prevalence of cancer & genetic disorders, rising healthcare expenditures, increasing funding for research activities, the surge in genome mapping programs, the decreasing costs of sequencing procedures, the growing need for the early detection & prevention of diseases, technological advancements in sequencing products, the improving regulatory and reimbursement scenarios for NGS-based diagnostic tests, and government initiatives promoting the use of sequencing in clinical & research applications.
However, the high costs of sequencing kits & reagents and the ethical & legal issues related to DNA sequencing-based diagnosis are factors restraining the growth of this market. Moreover, government support for large-scale genomic sequencing projects, the increasing applications of genome sequencing in disease diagnostics and precision medicine, emerging economies, and advancements in genomics & proteomics are expected to generate growth opportunities for market stakeholders. However, the evolving regulatory landscape, the low chances of positive, actionable mutations, and the lack of sequencing professionals in developing countries are major challenges for market growth.
Additionally, developing portable sequencing technologies and increasing partnerships & collaborations among NGS product manufacturers to expand and improve product offerings are prominent trends in the sequencing kits & reagents market.
Based on type, in 2023, the nucleic acid extraction & amplification kits & reagents segment is expected to account for the largest share of the market.
This segment’s large market share is attributed to the growing adoption of sequencing-based research and development by various end users, such as pharmaceutical & biopharmaceutical companies and academic & research institutes.
Based on technology, in 2023, the next-generation sequencing (NGS) segment is expected to account for the largest share of the market.
The large market share of the segment is attributed to the growing adoption of NGS in clinical and research settings, its ability to provide faster and more accurate genetic testing, the rapidly declining cost of sequencing per base, and the introduction of cost-effective benchtop laboratory sequencers.
Based on application, the research applications segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the rising incidence of cancer, the growing demand for precision medicine, the increased discovery of biomarkers, and the availability of cost-effective advanced sequencing technologies like NGS, SMRT, and nanopore for research applications.
Based on end user, in 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the market.
The large market share of this segment is attributed to the declining costs of sequencing, the development of companion diagnostics and precision medicine, and the rising demand for sequencing from pharmaceutical and biopharmaceutical companies, primarily for drug discovery purposes.
In 2023, North America is expected to account for the largest share of the sequencing kits & reagents market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
North America’s significant market share can be attributed to factors such as the rising burden of cancer, the presence of key market players, well-established healthcare infrastructure, and government initiatives supporting sequencing projects.
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Illumina Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- PerkinElmer Inc. (U.S.)
- QIAGEN N.V. (Netherlands)
- Agilent Technologies Inc. (U.S.)
- Pacific Biosciences of California Inc. (U.S.)
- Danaher Corporation (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- Oxford Nanopore Technologies Plc. (U.K.)
- 10X Genomics Inc. (U.S.)
- Beijing Genomics Institute (BGI) (China)
Scope of the Report:
Sequencing Kits & Reagents Market Assessment – by Type
- Control Kits & Reagents
- Library Preparation Kits & Reagents
- Nucleic Acid Extraction & Amplification Kits & Reagents
- Sequencing Kits & Reagents
- Other Kits & Reagents
Sequencing Kits & Reagents Market Assessment – by Technology
- Next-generation Sequencing
- Sanger Sequencing
- Third & Fourth-generation Sequencing
- Other Sequencing Technologies
Sequencing Kits & Reagents Market Assessment – by Application
- Research Applications
- Drug Discovery
- Agricultural & Animal Research
- Other Research Applications
- Clinical Applications
- Reproductive Health
- Oncology
- Infectious Diseases
- Other Clinical Applications
Sequencing Kits & Reagents Market Assessment – by End User
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Academic & Research Institutes
- Other End Users
Sequencing Kits & Reagents Market Assessment – by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/sg50my
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