The Sequencing Kits Market was valued at $8.09 billion in 2023. This market is expected to reach $25.29 billion by 2031, from an estimated $9.23 billion in 2024, at a CAGR of 15.5% during the forecast period 2024-2031.
Sequencing Kits Market Size & Forecast
The growth of the sequencing kits 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.
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.
Sequencing Kits Market Growth Drivers
Increasing Applications of Genome Sequencing in Disease Diagnostics and Precision Medicine
Personalized/precision medicine uses an individual’s genomic information to offer targeted treatment. The synthesis of genes can rapidly sequence large sections of a person’s genome and aid in the formulation of precision medicine, generating cost-effective alternatives for existing therapies and allowing for novel treatments in multiple areas, including infectious diseases, drug discovery, and reproductive health, among others. Personalized medicine analyzes molecules, individual genes, and networks and translates them into an overall output for the systems of the human body.
Furthermore, with the utilization of sequencing technologies in precision medicine, cancer treatment and diagnosis are also advancing significantly. New targeted cancer treatments that use genomic data to provide patient-specific treatments are known as precision oncology, a rapidly developing field that has already become a part of mainstream clinical practices. It involves the molecular profiling of cancer cells to identify targetable alterations, also known as biomarkers. Quick and reliable sequencing of multiple genes at once is possible with sequencing. Thus, the increasing inclination toward personalized medicine-based diagnosis and treatment is expected to create opportunities for market growth.
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Decreasing Costs of Sequencing Procedures
Sequencing is the process of determining the nucleic acid sequence in a DNA or RNA sample. The advent of advanced sequencing technologies such as NGS, nanopore, and single-molecule real-time (SMRT) sequencing has accelerated biological and medical research and discovery, allowing biologists and medical scientists to collect massive amounts of DNA sequence data rapidly and cost-effectively. In the past few years, the availability of advanced sequencing technologies has lowered sequencing costs and significantly reduced the time required for genome sequencing. According to the National Human Genome Research Institute (NHGRI), the cost of sequencing a human genome decreased from USD 29,092 in 2010 to USD 562 in 2021, significantly increasing the adoption of sequencing kits & reagents.
Sequencing Kits Market Opportunity
Emerging Economies
Emerging economies in Asia-Pacific and Latin America are expected to offer market growth opportunities due to the rising demand for sequencing instruments, increasing funding for R&D, rising healthcare expenditures, and ongoing developments in healthcare infrastructure. Countries such as China, India, Brazil, and Mexico have significantly contributed to revenue generation for various stakeholders in this market, mainly due to the increasing number of research institutes, clinical and diagnostic laboratories, and pharmaceutical and biopharmaceutical companies. Additionally, growth in public and private R&D funding and contract research supports market growth in these countries.
According to the United Nations, Asia-Pacific is witnessing rapid growth in its aging population. In 2022, 12.7% of the population in Eastern and Southeastern Asia was aged 65 years or older, and the percentage is projected to increase to 25.7% by 2050. Thus, the prevalence of age-related disorders, such as cancer, is rising in Asia-Pacific.
In 2020, Latin America & the Caribbean registered 1.5 million new cancer cases, estimated to reach 1.9 million in 2030, an increase of around 31%. These numbers are expected to increase further, reaching 2.1 million and 2.4 million in 2035 and 2040, respectively. In addition, the number of deaths due to cancer is increasing in the region. This increasing cancer prevalence has significantly boosted the demand for targeted medicine in the region, which is expected to generate growth opportunities for the players in the sequencing kits market.
Increasing Applications of Genome Sequencing in Disease Diagnostics and Precision Medicine
The utilization of sequencing technologies is also growing in precision medicine. Advancements in sequencing technologies are changing how doctors diagnose and treat cancer. New targeted cancer treatments that use genomic data to provide patient-specific treatments are known as precision oncology, a rapidly developing field that has already become a part of mainstream clinical practices.
Furthermore, it involves the molecular profiling of cancer cells to identify targetable alterations, also known as biomarkers. Quick and reliable simultaneous sequencing of multiple genes has become possible with the availability of sequencing technologies such as NGS, Sanger, and nanopore.
Sequencing Kits Market Analysis: Key Findings
By Type: In 2024, the Nucleic Acid Extraction & Amplification Kits & Reagents Segment is Expected to Dominate the Sequencing Kits Market
Based on the type, the sequencing kits market is segmented into sequencing kits & reagents, library preparation kits & reagents, nucleic acid extraction & amplification kits & reagents, control kits & reagents, and other kits & reagents. In 2024, nucleic acid extraction & amplification kits segments is expected to account for the largest share of 33.0% of the sequencing kits market. The large market share of this segment 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. Also, the increasing applications of sequencing in reproductive health, oncology, agriculture, and animal research have triggered the demand for nucleic acid extraction & amplification kits & reagents.
Furthermore, the sequencing kits & reagents segment is projected to witness the highest growth rate of 16.9% during the forecast period of 2024–2031. This is due to the increasing genome sequencing activities and increasing pharmaceutical research and development.
Based on Technology: In 2024, the Next-Generation Sequencing (NGS) Segment is Expected to Dominate the sequencing kits market
Based on the type, the sequencing kits market is segmented into next-generation sequencing, Sanger sequencing, third and fourth-generation sequencing, and other sequencing technologies. In 2024, Next-Generation Sequencing (NGS) segments is expected to account for the largest share of 78.2% the sequencing kits market. The large market share of this segment is attributed to the benefits offered by NGS, such as high-throughput production, efficient instrument runs, and cost-effectiveness compared to traditional first-generation sequencing methods. Additionally, NGS is highly preferred for large-scale genomic profiling and transcriptomic sequencing.
Based on Application: In 2024, the Research Applications Segment is Expected to Dominate the sequencing kits market
Based on the application, the sequencing kits market is segmented into research applications and clinical applications. In 2024, research applications segments is expected to account for the largest share of the sequencing kits market. The largest share of this segment is attributed to the decreasing cost of sequencing procedures, the rising research and development efforts by pharmaceutical and biopharmaceutical companies in drug and biomarker discovery, the high sensitivity and throughput offered by advanced sequencing technologies, and the expanding applications of sequencing in various clinical and research areas.
Based on End User: In 2024, the Pharmaceutical & Biotechnology Companies is Expected to Dominate the sequencing kits market
Based on the end user, the sequencing kits market is segmented into pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, academic & research institutes, and other end users. In 2024, pharmaceutical & biotechnology segments is expected to account for the largest share of the sequencing kits market. The large market share of this segment is attributed to the declining costs of sequencing, the increase in research and development activities by pharmaceutical and biotechnology companies, and the extensive utilization of advanced sequencing products for cancer studies.
Geographical Analysis
North America to Dominate the Sequencing Kits Market
In 2024, North America is expected to account for the largest share of 50.8% of the sequencing kits market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America’s significant market share can be attributed to several key factors, increasing R&D expenditure by the pharmaceutical & biotechnology industry, the presence of leading sequencing kits & reagents market players in the region, favorable government initiatives for genomics research, growing applications of sequencing for diagnostic purposes in genetic diseases, oncology, and several other chronic conditions, rising awareness of NGS-based sequencing, increasing demand for precision medicine and favorable reimbursement scenario for DNA sequencing in the region.
Moreover, the market in Asia-Pacific is slated to register the highest growth rate of 17.3% during the forecast period. The growth of this regional market is attributed to the accelerated economic growth in many countries across the region, which has increased the focus of governments in these countries on improving the healthcare sector. These government initiatives have led to increased investment to enhance the accessibility of healthcare services, healthcare infrastructure improvements, and biomarker discovery programs. The other key factors supporting the market's growth across this region include the rising prevalence of cancer, the growing adoption of advanced diagnostic and therapeutic technologies, and government initiatives to support genome sequencing programs.
Sequencing Kits Market: Key Companies
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players between 2020 and 2024. The key players profiled in the sequencing kits market report are 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.), and Beijing Genomics Institute (BGI) (China).
Sequencing Kits Industry Overview: Latest Developments from Key Industry Players
- In July, QIAGEN launched its QIAseq Normalizer Kits, expanding its next-generation sequencing products portfolio. These kits enable convenient, cost-effective, fast DNA library preparation for high-quality results.
- In April 2023, Thermo Fisher Scientific partnered with ALPCO-GeneProof (Czech Republic) to launch their TaqPath Menu and GeneProof PCR kits. The kits will be launched in phases for bloodborne and sexually transmitted infections (STIs). Also, panels for respiratory infections, transplant and thrombotic mutations, immunocompromised infections, and vector-borne diseases will follow.
- In May 2022, Illumina launched its TruSight Oncology Comprehensive (EU) test kit that assesses multiple tumor biomarkers and genes to reveal specific molecular profiles of cancer patients.
- In September 2020, Agilent Technologies launched its SureSelect XT HS2 RNA Reagent Kit to develop NGS workflows and applications by leveraging the versatility and performance of XT HS2 chemistry. Additionally, the kit expands NGS applications of XT HS2 chemistry, allowing customers to precisely and accurately profile gene expression and detect RNA fusions using lowinput FFPE samples.
Sequencing Kits Market Research Summary
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Particular
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Details
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Page No
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258
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Format
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PDF
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Forecast Period
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2024-2031
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Base Year
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2023
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CAGR
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15.5%
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Market Size (Value)
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USD 25.29 billion by 2031
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Segments Covered
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By Type
- Control Kits & Reagents
- Library Preparation Kits & Reagents
- Nucleic Acid Extraction & Amplification Kits & Reagents
- Sequencing Kits & Reagents
- Other Kits & Reagents
(Note: Other kits & reagents include fluorescent dye, polyacrylamide gel, adenosine phosphosulphate (APS), luciferin, apyrase, probes, barcode kits, flow cells, trays, and beads)
By Technology
- Next-generation Sequencing
- Sanger Sequencing
- Third & Fourth-generation Sequencing
- Other Sequencing Technologies
(Note: Other technologies include pyro sequencing, degradome sequencing, chromatin immunoprecipitation (ChIP) sequencing, and methylation sequencing)
By Application
- Research Applications
- Drug Discovery
- Agricultural & Animal Research
- Other Research Applications
- Clinical Applications
- Reproductive Health
- Oncology
- Infectious Diseases
- Other Clinical Applications
(Note 1: Other research applications include food microbiology, microbial analysis in the beverage industry, and environmental studies.)
Note 2: Other clinical applications include the detection of genetic aberrations in neurological disorders, rare diseases, and metabolic and immune disorders)
By End User
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Academic & Research Institutes
- Other End Users
(Note: Other end users include forensic laboratories & security agencies, food & beverage companies, and agriculture companies)
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Countries Covered
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North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America) and the Middle East & Africa.
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Key Companies
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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.), and Beijing Genomics Institute (BGI) (China).
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Key questions answered in the sequencing kits market report:
