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Sanger Sequencing Global Market Size, Growth, Opportunities 2024-2033 | Merck KGaA, Eurofins Scientific, Illumina Inc., Beckman Coulter, PerkinElmer Inc.
Sanger Sequencing Global Market
According to The Business Research Company's, The sanger sequencing market size has grown rapidly in recent years. It will grow from $2.29 billion in 2023 to $2.75 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to increased research demand, increasing medical diagnostics, increased pharmaceutical development, increased agricultural applications, increased forensic analysis, increased biomarker discovery, increased genetic evolution studies.
The sanger sequencing market size is expected to see rapid growth in the next few years. It will grow to $5.30 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%. The growth in the forecast period can be attributed to increasing clinical genomics integration, expanded agricultural genomics, increasing drug safety and pharmacogenomics, increasing prenatal and newborn screening, increasing environmental DNA analysis. Major trends in the forecast period include technological advancements, growing demand for next-generation sequencing, increasing applications in clinical diagnostics, rising investments in genomics research, expanding use in personalized medicine.
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Market Drivers and Trends:
The rise in genetic illness is expected to propel the growth of the sanger sequencing market going forward. A genetic illness, or genetic disorder, is a medical condition caused by abnormalities or mutations in an individual's DNA, the hereditary material that carries genetic information. Sanger sequencing is used to diagnose genetic illnesses by determining the exact order of nucleotides (the building blocks of DNA) in a specific gene or region of DNA. For instance, in February 2024, according to the Genetic Rare Diseases Information Center (GARD, a US-based government agency, there were about 7,000 known rare genetic diseases, accounting for about 1 in 10 people, or 30 million people in the United States during 2020-2021. Therefore, the rise in genetic illness is driving the growth of the sanger sequencing market.
Major companies operating in the sanger sequencing market are developing advanced sanger sequencing systems to drive revenues in the market. Advanced sanger sequencing systems are designed to handle higher throughput, allowing for the simultaneous processing of multiple samples. For instance, in October 2021, Promega Corporation, a US-based manufacturer of enzymes and other products, launched the ProDye Terminator Sequencing System, which is compatible with all capillary electrophoresis (CE) platforms, including the benchtop Spectrum Compact CE System. This system allows research labs to perform Sanger sequencing on any CE instrument, making it suitable for various laboratory sizes. The ProDye Terminator Sequencing System uses a proprietary thermostable DNA polymerase and can be implemented on instruments such as the Spectrum Compact CE System, SeqStudio Genetic Analyzers, and Applied Biosystems Genetic Analyzers.
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Major Key Players of 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., Quintara Biosciences, CeMIA SA, Source BioScience, Microsynth AG, Fasteris SA, GenHunter Corporation, Nucleics Pty. Ltd., SciGenom Labs Pvt. Ltd., StarSEQ GmbH, GATC Biotech AG, Agilent Technologies
Sanger Sequencing Market 2024 Key Insights:
• The sanger sequencing market is expected to grow to $5.30 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%.
• Genetic Illness Surge Fuels Sanger Sequencing Market Growth
• Advancements In Sanger Sequencing Technology Drive Market Growth
• North America was the largest region in the sanger sequencing market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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