The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
Market Size and Growth
- 2023 Growth: The Sanger sequencing market reached $2.29 billion in 2023.
- 2024 Projection: It is expected to grow to $2.75 billion in 2024, reflecting a compound annual growth rate (CAGR) of 19.9%.
- 2028 Projection: By 2028, the market is projected to reach $5.30 billion, with a CAGR of 17.8%.
Drivers of Historic Growth
- Increased Research Demand: Growing research activities have fueled market expansion.
- Medical Diagnostics: Rising use in medical diagnostics has boosted market size.
- Pharmaceutical Development: Enhanced pharmaceutical development activities have contributed to growth.
- Agricultural Applications: Expanded use in agriculture for crop improvement and disease resistance.
- Forensic Analysis: Increasing forensic analysis needs.
- Biomarker Discovery: Growing importance of biomarkers in personalized medicine.
- Genetic Evolution Studies: Increasing studies on genetic evolution.
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Drivers of Future Growth
- Clinical Genomics Integration: Enhanced integration in clinical genomics.
- Agricultural Genomics Expansion: Broader applications in agricultural genomics.
- Drug Safety and Pharmacogenomics: Rising importance in drug safety and pharmacogenomics.
- Prenatal and Newborn Screening: Increasing use in prenatal and newborn screening.
- Environmental DNA Analysis: Expanding applications in environmental DNA analysis.
Major Market Trends
- Technological Advancements: Continuous technological advancements in sequencing technology.
- Next-Generation Sequencing Demand: Growing demand for next-generation sequencing.
- Clinical Diagnostics Applications: Increased use in clinical diagnostics.
- Genomics Research Investments: Rising investments in genomics research.
- Personalized Medicine: Expanding use in personalized medicine.
Impact of Genetic Illness Surge
- Genetic Illnesses: Rise in genetic illnesses propels market growth.
- Diagnostics: Sanger sequencing used for diagnosing genetic disorders.
- Rare Diseases: Over 7,000 known rare genetic diseases, affecting 30 million people in the US.
Key Companies in the Market
- Hoffmann-La Roche
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Eurofins Scientific
- Illumina Inc.
- Beckman Coulter
- PerkinElmer Inc.
- BGI Group
- LGC Limited
- GenScript
- Oxford Nanopore Technologies
- Pacific Biosciences of California Inc.
- Macrogen Inc.
- GENEWIZ Inc.
Advancements in Sanger Sequencing Technology
- Promega Corporation: Launched the ProDye Terminator Sequencing System in October 2021.
- System Features: Compatible with all capillary electrophoresis (CE) platforms, enhancing laboratory capabilities.
- Technological Edge: Uses proprietary thermostable DNA polymerase for high efficiency.
Strategic Acquisitions
- QIAGEN and Verogen: In January 2023, QIAGEN acquired Verogen for $150 million.
- Forensic Science: Strengthened leadership in forensic science.
- Market Reach: Enhanced market-leading sample extraction and library prep automation capabilities.
Market Segmentation
- By Sequencing: Shotgun Sequencing, Targeted Gene Sequencing, Other Sequencing.
- By Laboratory: Wet Labs, Dry Labs.
- By Research: In-House, Outsourced.
- By Application: Diagnostics, Biomarkers and Cancer, Reproductive Health, Personalized Medicine, Forensics, Other Applications.
- By End User: Academic, Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, Hospitals, Clinics.
Regional Insights
- North America: Largest region in the Sanger sequencing market in 2023.
The Sanger sequencing market is poised for significant growth, driven by technological advancements, expanding applications, and strategic acquisitions. With a strong presence in research, diagnostics, and personalized medicine, the market is set to transform various sectors, underscoring its critical role in advancing genomic science.
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