What is Global Sangers Sequencing Service Market?
The Global Sangers Sequencing Service Market is a dynamic and rapidly evolving sector that plays a crucial role in the field of genomics and genetics. It's a service that provides scientists and researchers with the ability to sequence DNA and RNA, which is essential for understanding the genetic makeup of organisms and diseases. The market was valued at a substantial US$ 286 million in 2023 and is projected to grow significantly, reaching an estimated value of US$ 502.2 million by 2030. This growth is driven by advancements in technology, increased demand for personalized medicine, and the rising prevalence of genetic disorders. The market is dominated by a few key players, who collectively hold about 70% of the market share.
Shotgun Sequencing, Targeted Gene Sequencing, Others in the Global Sangers Sequencing Service Market:
The Global Sangers Sequencing Service Market is segmented into Shotgun Sequencing, Targeted Gene Sequencing, and Others. Shotgun Sequencing is a method used to sequence large DNA molecules by breaking them into smaller fragments, sequencing these fragments, and then reassembling the sequences to obtain the original sequence. Targeted Gene Sequencing, on the other hand, is a more focused approach where specific genes or regions of the genome are sequenced. The 'Others' segment includes various other sequencing methods that are not classified under the first two categories. Each of these segments has its own unique applications and advantages, contributing to the overall growth of the market.
Academic and Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, Hospitals and Clinics in the Global Sangers Sequencing Service Market:
The Global Sangers Sequencing Service Market finds its applications in various sectors including Academic and Government Research Institutes, Pharmaceutical Companies, Biotechnology Companies, and Hospitals and Clinics. In Academic and Government Research Institutes, it is used for basic research and understanding the genetic basis of various diseases. Pharmaceutical Companies use it for drug discovery and development, while Biotechnology Companies use it for developing new technologies and products. Hospitals and Clinics use it for diagnostic purposes and personalized medicine. The wide range of applications of Sangers Sequencing Service is a testament to its importance and potential for growth.
Global Sangers Sequencing Service Market Outlook:
Looking at the market outlook, the Global Sangers Sequencing Service Market is on a promising growth trajectory. From a valuation of US$ 286 million in 2023, the market is expected to nearly double, reaching US$ 502.2 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 8.2% during the forecast period of 2024 to 2030. The market is fairly concentrated, with the top five manufacturers accounting for about 70% of the market share. This indicates a high level of competition among these key players, who are constantly striving to innovate and offer better sequencing services.
| Report Metric | Details |
| Report Name | Sangers Sequencing Service Market |
| Accounted market size in 2023 | US$ 286 million |
| Forecasted market size in 2030 | US$ 502.2 million |
| CAGR | 8.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Source BioScience, GenScript Biotech, Thermo Fisher Scientific, LGC Science Group, Fasteris, CeMIA, Quintara Biosciences, GenHunter, GENEWIZ, Nucleics, SciGenom Labs, Microsynth, Laragen, StarSEQ |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
