Global Sanger Sequencing Market Size To Exceed USD 10,130.6 Million By 2031, CAGR Of 18.2%
The Global Sanger Sequencing Market is estimated to be valued at USD 3,149.9 Mn in 2024 and is expected to exhibit a CAGR of 18.2% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Burlingame, June 19, 2024 (GLOBE NEWSWIRE) -- The global sanger sequencing market size was estimated at USD 3,149.9 million in 2024 and is expected to reach around USD 10,130.6 million by 2031, registering a CAGR of 18.2% between 2024 and 2031, as per a recent report by Coherent Market Insights. Cancer genomics involves analyzing DNA sequence variations in cancer cells and comparing them to DNA from normal cells to identify genetic mutations associated with specific cancers. Similarly, pharmacogenomics combines pharmacology and genomics to study how genetic makeup affects an individual's response to drugs. Both fields are gaining increasing attention as they contribute significantly to the development of personalized treatments targeting specific mutations.
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Market Dynamics:
The global Sanger sequencing market is witnessing high growth owing to increasing demand for nucleic acid sequencing from biotechnology companies and academic & research institutes. Sanger sequencing is being widely adopted due to its affordability and reliability in DNA sequencing. Furthermore, advancing technologies are improving sequencing speed and reducing costs which is further fueling market growth. Another key factor propelling market revenue is rising prevalence of chronic diseases which is increasing demand for precision medicine and drug development research activities involving Sanger sequencing.
Global Sanger Sequencing Market Report Coverage
Report Coverage | Details |
Market Revenue in 2024 | $3,149.9 million |
Estimated Value by 2031 | $10,130.6 million |
Growth Rate | Poised to grow at a CAGR of 18.2% |
Historical Data | 2019–2023 |
Forecast Period | 2024–2031 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, By Application, By End-use |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Growth Drivers | • Declining Costs of Sequencing • Increasing Launches of Sanger Sequencing Services |
Restraints & Challenges | • Requirement for Well-trained Professionals • Regulatory Issues Pertaining to Genetic Data |
Market Trends:
The integration of artificial intelligence (AI) and machine learning capabilities with Sanger sequencing instruments is one of the key trends gaining traction in the market. AI assists in automating sequencing workflow and improving accuracy of large sequencing data sets. Moreover, market players are focusing on developing portable, affordable, and user-friendly benchtop sequencing technologies to expand access and applications of Sanger sequencing. This is expected to support the uptake of Sanger sequencing in clinical diagnostic laboratories and research facilities. Furthermore, growing research activity in sequence-based genomics is creating opportunities for market growth over the forecast period.
Targeted gene sequencing is expected to witness significant growth over the forecast period. Targeted gene sequencing focuses on selecting and sequencing only the specific genes of interest. This makes it a more cost-effective option for sequencing specific genes for diagnostic purposes. The limited sequencing scope also helps in faster turnaround time for results. Further, ongoing R&D for developing more efficient targeted gene panels focused on studying particular diseases is expected to support the growth of this segment.
The personalized medicine segment is anticipated to offer lucrative growth opportunities during the forecast period. Sanger sequencing plays a key role in personalized medicine by identifying genetic mutations and variants crucial for developing personalized treatment plans. With the rising focus on precision medicine approaches, the demand for genetic sequencing from personalized medicine applications is growing. Furthermore, the reducing cost of genomic sequencing is encouraging more lifestyle and diagnostic companies to incorporate genetic screening and testing, thus favoring the segment growth.
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Key Market Takeaways:
The global Sanger sequencing market is anticipated to witness a CAGR of 18.2% during the forecast period 2024-2031, owing to the rising application of Sanger sequencing in disease diagnostics and genetic research.
On the basis of type, shotgun sequencing segment is expected to hold a dominant position, owing to its ability to sequence whole genomes rapidly.
On the basis of application, diagnostics segment is expected to hold a dominant position over the forecast period, due to growing demand for genetic and genomic testing for disease diagnosis.
On the basis of end use, government research institute segment is expected to hold a dominant position over the forecast period, due to heavy investments made by government bodies in genomic research.
On the basis of region, North America is expected to hold a dominant position over the forecast period, due to well established healthcare infrastructure and early technology adoption.
Key players operating in the global Sanger sequencing market include Eurofins Scientific CeMIA, Fasteris SA, GENEWIZ, GenHunter Corporation, GenScript, LGC Biosearch Technologies, Nucleica, Quimtara Biosciences, SciGenom Labs Pvt. LTd, StarSEQ GmbH, Thermo Fisher Scientific Inc., QIAGEN, Promega Corporation, and Source BioScience. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position.
Recent Developments:
In May 2023, Source Gemomics, announced that they has opened a new laboratory in the North England, to provide sanger sequencing services with faster turnaround times for optimized data delivery.
In February 2023, the Tamil Nadu Forest Department in India announced the launched of a DNA Sequencing facility under the Centre for Wildlife Forensics and a wildlife histopathology laboratory under the Centre of Animal Care and Sciences.
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Detailed Segmentation-
By Type:
- Shotgun Sequencing
- Targeted Gene Sequencing
- Others
By Application:
- Diagnostics
- Personalized Medicine
- Forensics
- Others
By End-use:
- Government Research Institutes
- Diagnostic Labs
- Pharmaceutical and Biotechnology Company
- Others
By Region:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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Global DNA Nanotechnology Market: The global DNA nanotechnology market was valued at US$ 4.38 Bn in 2023 and is expected to reach US$ 26.08 Bn by 2031, growing at a compound annual growth rate (CAGR) of 25% from 2024 to 2031.
Global Sequencing Consumables Market: 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 Long Read Sequencing Market: Global long read sequencing market size is expected to reach US$ 5,142.3 Mn by 2031, from US$ 780 Mn in 2024, exhibiting a compound annual growth rate (CAGR) of 30.9% during the forecast period.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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