Global Sangers Sequencing Service Market Expected to Reach $1,085 Million by 2025
PORTLAND, Oregon and PUNE, India, May 29, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Sanger's Sequencing Service Market by Application and End User: Global Opportunity Analysis and Industry Forecast, 2013-2025".The global sanger's sequencing service market was valued at $192 million in 2013, and is projected to reach $1,085 million by 2025, at a CAGR of 14.2% from 2018 to 2025. The growth of the market is driven by factors such as increase in the usage and applications of sanger's sequencing, especially in oncology research, diagnostics, reproductive health, and others. Furthermore, the market for sanger's sequencing services has witnessed tremendous growth in the recent years, due to upsurge in demand for this technique in genomics, transcriptomics, and other life science-related research areas.
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The key drivers of the global sanger's sequencing service market are surge in technological advancements, especially microfluidic sanger's sequencing and rise in the number of collaborations & partnerships to promote the use of DNA sequencing in hospitals & research centers. In addition, heavy inflow of investment in R&D activities has facilitated the propagation of sanger's sequencing services, thereby providing lucrative opportunities for the market players. However, concerns related to accuracy & standardization and dearth of skilled professionals hamper the market growth.
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sanger's sequencing has the potential to precisely differentiate between the genetic variations and facilitate the generation of potent biomarkers for medicine and disease diagnosis. In addition, low sequencing time, concise protocol length, and rise in cost of sequencing have increased its usage in biomarker discovery and cancer. The global biomarker & cancer sanger's sequencing service market is expected to reach $390 million by 2025.
Among the different end users, academic & government research institutes nearly occupied one-third share in the global sanger's sequencing service market in 2013. This is attributed to the fact that sanger's sequencing services have the capability to provide precise genomic information without the high costs associated with other methods of sequencing.
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The United States was the leading revenue contributor to the global market in 2013, occupying nearly half of the total market share owing to high adoption rate of technologically advanced Sanger sequencing services. However, China is expected to grow at the highest CAGR of 17.2% from 2018 to 2025, owing to increase in disposable income; surge in research, development, & innovation activities; and growth in awareness of Sanger's sequencing.
Key Findings of the Sanger's Sequencing Service Market:
- EU accounted for more than one-third of the share of the sanger's sequencing service market in 2013.
- The personalized medicine application segment is anticipated to grow with the highest CAGR throughout the forecast period.
- Academic and government research institutes accounted for nearly one-third of the global sanger's sequencing service market in 2013.
- China is anticipated to grow at the highest rate in the market during the analysis period.
The report provides extensive competitive analysis and profiles of key market players such as Source BioScience, GenScript Biotech Corporation, Thermo Fisher Scientific, Inc., LGC Science Group Limited, Fasteris SA, CeMIA SA, Quintara Biosciences, GenHunter Corporation, GENEWIZ, Nucleics, SciGenom Labs Pvt. Limited, and Microsynth AG. Inc. The other players in the value chain (not included in the report) include Laragen, Inc. and StarSEQ GmbH.
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