Sequencing Reagents Market Size, Share & Trends Analysis Report By Technology, By Type, By Application (Oncology, Consumer Genomics), By End-use (Academic Research, Clinical Research), By Region, And Segment Forecasts, 2024 - 2030

Sequencing Reagents Market Size & Trends

The global sequencing reagents market size was valued at USD 7.48 billion in 2023 and is projected to grow at a CAGR of 17.83% from 2024 to 2030. The growth of the market can be attributed to several factors such as constant development in sequencing studies, increasing number of genomic studies worldwide, development of novel sequencing techniques, availability of new commercial kits, reduction in cost of genome sequencing, rise in government support for genomic studies of rare diseases, increase in funding from private and public entities in genomic studies.

In addition, growth of next-generation sequencing techniques, surge in bio-pharmaceutical expenditure worldwide, expansion in applications of sequencing in the diagnostic studies and increasing genomic surveillance studies worldwide are also expected to contribute to the market growth. For instance, in July 2022, WHO published data showing that the percentage of countries conducting genomic surveillance rose from 54% to 68% from March 2021 to January 2022 due to significant investments made during the COVID-19 pandemic.

Rapid expansion in sequencing reagent applications is expected to drive the market in the coming years. Rapid genome sequencing in intensive care units for the diagnosis of heredity genetic diseases is expected to contribute to the growth of the market. According to an article published by the Nature Journal, in February 2024, reviewed that in 44 research studies involving children in ICUs with unknown diseases, 37% were diagnosed genetically, leading to management changes in 26% of cases, resulting in a cost reduction of USD 14,265 per child tested through ultra-rapid genome sequencing (URGS), rapid genome sequencing (RGS), or rapid exome sequencing (RES). Improved diagnostic and clinical results are expected to occur as techniques advance, expenses decrease, and testing is integrated into precision medicine systems tailored to the needs of intensive care units.

The rising utilization of high-throughput sequencing techniques in the diagnosis of monogenic disorders is expected to boost the market's growth during the forecast period. For instance, a study published in Medizinische Genetik Journal in June 2021 stated that the molecular diagnosis rate for patients with monogenic disorders has significantly improved due to high-throughput sequencing techniques, which is majorly because there has been a significant rise in the detection rate of disease mutations in the coding sequence.

The availability of economic genome sequencing techniques is expected to drive the market during the forecast period. For instance, in September 20222, Illumina, Inc., company operating in DNA sequencing and array-based technologies, launched the NovaSeq X series, new large-scale sequencers. The technology was expected to lower the cost of the human genome to USD 200 and provide results in half the time.

Technology Insights

Next-Generation sequencing dominated the market and accounted for a share of 89.9% in 2023. Next-generation sequencing (NGS) is extensively utilized in molecular diagnostics, pathology, and clinical research due to its cost efficiency and high throughput. It enables the detection of rare genetic variations, supporting advancements in personalized medicine and companion diagnostics. This technology's benefits in managing chronic illnesses drive increased demand for NGS systems in in-vitro diagnostics. For instance, in March 2024, World Health Organization (WHO) published recommendations for using targeted next-generation sequencing tests for detecting drug-resistant TB and launched a new sequencing portal.

Third generation sequencing segment is expected to grow at the fastest CAGR of 21.1% over the forecast period. Third-generation sequencing, particularly through single-molecule real-time (SMRT) technology, enhances genome sequencing accuracy and efficiency by allowing precise re-sequencing and detecting chromosomal dislocations. This improved capability is expected to drive market growth. According to the study published in Springer Nature Limited, in July 2024, using an Oxford Nanopore sequencer for whole genome long-read sequencing successfully identified translocation breakpoints in 4 carriers, validating 6 out of 8 breakpoints at approximately 10× coverage. The technique revealed microdeletions/insertions and disrupted gene structures, highlighting its effectiveness in providing comprehensive genetic information.

Type Insights

Sequencing kits segment dominated the market and accounted for a share of 35.9% in 2023 owing to the availability of major high-throughput platforms such as Illumina's MiniSeq, MiSeq, iSeq, NextSeq, HiSeq X, and NovaSeq series; Thermo Fisher Scientific's PGM, IonS5, and Ion Proton system; and Oxford Nanopore Technologies plc's MinION, GridION X5, and PromethION. Recent launches by major players are expected to drive the market during the forecast period. For instance, in August 2020, Illumina, Inc. launched the NovaSeq 6000 v1.5 Reagent Kit. The reagent kits are designed to increase the accessibility and affordability of whole genome sequencing for labs of any size.

Library kits segment is expected to grow at the fastest CAGR 18.8% over the forecast period. Automating library construction through liquid handling platforms and necessary accessories for heating, cooling, shaking, and magnetic bead manipulations produces better-quality libraries for whole-genome sequencing. The segment is expected to witness lucrative growth during the forecast period due to the introduction of novel library kits. For instance, in May 2024, QIAGEN introduced the QIAseq Multimodal DNA/RNA Library Kit, simplifying the creation of RNA and DNA libraries for next-generation sequencing, including whole transcriptome and whole genome sequencing. The kit also allows for target enrichment through hybrid capture from a single sample.

Application Insights

The oncology segment dominated the market and accounted for a share of 26.1% in 2023 due to high usage of sequencing reagents for clinical research and the advancement of cancer diagnostics and therapeutics. Advancements in sequencing technology have enabled oncologists to access detailed genetic information on cancer, supporting precision oncology and novel clinical trials. Using whole genome sequencing in pediatric cancer treatment is expected to boost market growth during the forecast period. For instance, a study published by the Springer Nature Limited, in July 2024, stated that, in this study involving whole-genome sequencing (WGS) of 281 children (282 tumors) at two English facilities, WGS variants influenced clinical management in approximately 7% of cases (20 out of 282). Additionally, WGS identified 108 disease-related findings in 83 cases, exceeding the capabilities of standard molecular tests.

Consumer genomics segment is expected to grow at the fastest CAGR of 20.6% over the forecast period. The consumer genomics market has grown from personal uses to clinical applications, including direct-to-consumer and patient-requested tests via healthcare providers. This expansion is driven by rising consumer interest and the availability of affordable genomic testing options.

End-use Insights

Academic research segment dominated the market and accounted for a share of 51.7% in 2023 owing to the large number of universities and research centers offering molecular biology courses that extensively utilize next-generation sequencing (NGS) techniques. Scholarships provided by these institutions for Ph.D. studies in NGS are expected to boost the need for NGS reagents. For instance, in June 2021, the National Institutes of Health (NIH) granted USD 80 million to facilitate the establishment of the Genomics Research to Elucidate the Genetics of Rare Diseases (GREGoR) Consortium and the innovation of new techniques to diagnose the genetic causes of rare single-gene disorders. Baylor College of Medicine was set to be one of five clinical sites in the consortium, which was expected to receive funding from the National Human Genome Research Institute (NHGRI).

The clinical research segment is projected to grow at the fastest CAGR over the forecast period. Next-generation sequencing reagents are increasingly used for clinical diagnostics because they can detect the smallest mutations at single-nucleotide resolution without extra mutation information. An increase in the usage of various genomics technologies is expected to drive the market. For instance, in October 2023, Broad Clinical Labs (BCL) enhanced the power of 'omics technologies in screening, diagnostics, and clinical research. The advanced lab is poised to speed up clinical genomics. Broad Clinical Labs (BCL) backs major projects that require results to be produced under a clinical quality system, such as analyses for clinical trials and biobank profiling.

Regional Insights

North American sequencing reagents market dominated the market with revenue share of 49.73% in 2023 due to the high demand for sequencing reagents in the region. The market is projected to experience rapid growth due to increased research funding in precision medicine, which leverages next-generation sequencing technology. For instance, in July 2024, Thermo Fisher Scientific Inc. partnered with the National Cancer Institute on the myeloMATCH precision medicine trial, focusing on AML and MDS treatments. The collaboration uses Thermo Fisher's NGS technology to quickly match patients to trials by analyzing bone marrow and blood genetic biomarkers to target specific mutations.

U.S. Sequencing Reagents Market Trends

Sequencing reagents market in the U.S. dominated the market with a share of 78.0% in 2023 due to the high demand for sequencing reagents in the country. The market is expected to register rapid growth during the forecast period due to recent partnerships announced by key companies. For instance, in February 2024, Standard BioTools and Next Gen Diagnostics announced a long-term partnership to transform the process of automating sample preparation for sequencing the entire genome of pathogens. According to the contract, Standard BioTools is expected to produce the NGD-100, a modified version of its microfluidics-centered Biomark X9 System designed for NGD and improved for automatic pathogen whole genome sequencing (WGS) library preparation.

Europe Sequencing Reagents Market Trends

Europe sequencing reagents market was identified as a lucrative region in this industry. Recent advancements in sequencing technologies are expected to boost the market in the coming years. For instance, in December 2021, F. Hoffmann-La Roche Ltd. launched the AVENIO Edge System, a fully automated and integrated platform for next-generation sequencing. This system handles sequencing library preparation, target enrichment, and quantification, ensuring reliable, consistent, high-quality results.

The UK sequencing reagents market is expected to grow rapidly in the coming years due to the launch of various genome sequencing programs by UK government. For instance, in December 2022, the UK government introduced the Newborn Genome Programme to sequence the genomes of 100,000 newborns, aiming to identify rare diseases early. The study targets detecting 200 disorders that affect 3,000 newborns each year.

Germany Sequencing Reagents market held a substantial market share in 2023 owing to availability of the cost-effective sequencing technologies. For instance, in June 2023, Eurofins Genomics LLC introduced an innovative, affordable whole plasmid sequencing service that provides results on the same day. Utilizing Gen3 NGS technology enables this new service to achieve 99% accuracy at the single-base level.

Asia Pacific Sequencing Reagents Market Trends

Asia Pacific sequencing reagents market is anticipated to witness the fastest growth of 19.2% over the forecast period. This growth owes to the significantly increasing investments in genomics-focused biomedical research across the region. For instance, in March 2024, The Advanced Genomic Collaboration (TAGC) announced it would fund USD 6.5 million to boost genomics research in oncology, inherited eye diseases, and gynecological diseases.

Japan sequencing reagents market is expected to grow rapidly in the coming years. This growth can be attributed to increasing genomic studies and a decline in the cost of genome sequencing. The introduction of single-cell sequencing in Japan is expected to drive the market. For instance, in November 2021, Novogene Co. Ltd. launched single-cell sequencing services for Japanese clients at the 44th Annual Meeting of the Molecular Biological Society of Japan. This service includes on-location support and provides a comprehensive solution from experimental design to bioinformatics analysis for single-cell research.

Sequencing reagents market in China held a substantial market share in 2023 owing to recent commercial launches made by key companies. For instance, in April 2022, MGI Tech Co., Ltd. launched a new commercial sequencing chemistry, HotMPS, as part of their commitment to being a top life science innovator worldwide. The latest sequencing chemistry was designed for use specifically on the DNBSEQ-G400 sequencer.

Latin America Sequencing Reagents Market Trends

Latin America sequencing reagents market is expected to register exponential growth in the forecast period owing to new initiatives announced by the leading companies in sequencing technologies. For instance, in November 2023, Illumina, Inc. launched the Global Health Access Initiative to provide discounted pathogen sequencing tools to low- and middle-income countries, enhancing public health capabilities.

Brazil sequencing reagents market held a substantial market share in 2023 owing to the initiatives undertaken by the leading companies to advance genomics, which is expected to drive the market. For instance, in April 2024, MGI Tech Co. Ltd. announced the company's decision to open customer experience in Brazil to advance the genomics and sequencing studies in Latin America.

Middle East And Africa Sequencing Reagents Market Trends

The Middle East and Africa sequencing reagents market is anticipated to grow significantly over the forecast period. The market's growth can be attributed to the recent partnerships made by the sequencing technology companies in the region. For instance, in February 2024, MGI Tech Co. Ltd announced its collaboration with Dante Genomics to increase the accessibility of genomic sequencing technologies across the region.

South Africa sequencing reagents market is expected to grow exponentially during the forecast period due to recent collaborations between leading sequencing technology companies and central medical research councils. For instance, in July 2023, BGI Group partnered with South African Medical Council to develop precision medicine using sequencing technologies.

Key Sequencing Reagents Company Insights

Some of the key companies in the sequencing reagents market include Thermo Fisher Scientific Inc., Illumina, Inc., QIAGEN, BGI, PacBio, F. Hoffmann-La Roche Ltd, Oxford Nanopore Technologies plc., Agilent Technologies, Inc., Standard BioTools (Fluidigm Corporation), Integrated DNA Technologies, Inc. (ArcherDX, Inc.), Takara Bio Inc., and Meridian (Bioline). Organizations in the market are focusing on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions, and partnerships with other major companies. 

• Thermo Fisher Scientific Inc. provides various products and services, including analytical instruments and life sciences solutions. Key among these is the CE-IVD marked Ion Torrent Genexus Dx Integrated Sequencer, designed for clinical laboratories of varying expertise levels. This NGS tool offers an accessible, user-friendly experience while ensuring regulatory compliance.

• Illumina, Inc. provides array-based and genomic sequencing solutions for genetic analysis in molecular diagnostics, genomics, and cancer research. Its portfolio includes sequencing reagents, tools, kits, and services for whole-genome consulting, microarrays, and sequencing. The company serves genomic research centers, academic institutions, pharmaceutical firms, clinical research organizations, and biotechnology companies.

Recent Developments

• In March 2022, Thermo Fisher Scientific Inc. launched the Ion Torrent Genexus Dx Integrated Sequencer with CE-IVD marking, a rapidly automated NGS platform that provides results within one day. Created for use in medical laboratories, the fully validated platform allows users to conduct both diagnostic testing and clinical research using one machine.

• In August 2020, Illumina, Inc. launched the NovaSeq 6000 v1.5 Reagent Kit. The latest NovaSeq6000 v1.5 Reagent Kits aims to increase the availability and affordability of whole genome sequencing for labs of various capacities by offering a genome for USD 600. The new kits aim to provide data-rich applications such as single-cell genomics, and whole genome sequencing by meeting customer needs and offering a more competitive price per sample.

Sequencing Reagents Market Report Scope

Global Sequencing Reagents Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global sequencing reagents market report based on technology, type, application, end-use, and region:

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Sanger Sequencing

  • Next-Generation Sequencing

  • Third Generation Sequencing

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Library Kits

  • Template Kits

  • Control Kits

  • Sequencing Kits

  • Others

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Oncology

  • Reproductive Health

  • Clinical Investigation

  • Agrigenomics and Forensics

  • Consumer Genomics

  • Others

• End-use Outlook (Revenue, USD Million, 2018 – 2030)

  • Academic Research

  • Clinical Research

  • Hospitals and Clinics

  • Pharmaceutical & Biotechnology Companies

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait