iCrowd Newswire – May 15, 2020
According to The Insight Partners market research study titled ‘Sanger Sequencing Service Market to 2027 – Global Analysis and Forecasts by Application, End User, and Geography.’ The global Sanger sequencing service market is expected to reach US$ 1,360.47 Mn in 2027 from US$ 489.43 Mn in 2018. The market is forecasted to grow with a CAGR of 12.2% during 2019-2027. The report highlights the trends prevalent in the global Sanger sequencing service market and the factors driving the market along with those that act as deterrents to its growth.
The global Sanger sequencing service market, based on application, was segmented as, diagnostics, biomarkers and cancer, reproductive health, personalized medicine, forensics, and other applications. In 2018 biomarkers and cancer held the largest share of the market, by application, due to the rising incidence of cancer, increasing the use of cancer biomarkers in drug discovery and diagnostics, and increasing research on cancer biomarkers.
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The Leading Market Players Covered in this Report are:-
- Microsynth AG
- Laragen, Inc.
- StarSEQ GmbH
- Thermo Fisher Scientific, Inc.
- LGC Biosearch Technologies
- Fasteris SA
- Quintara Biosciences
- SciGenom Labs
Europe is the second-largest geographic market and is expected to be the second most significant revenue contributor throughout the forecast period. The region has witnessed an increase in research funding and growth of the biotechnology sector, which is expected to offer growth opportunities in the market.
In many clinical studies, in different groups of subjects, substantive insights have been made by comparing the primary DNA sequences of genes. For example, As per Thermo Fisher Scientific, a recent study showed that up to 2% of the variants detected by NGS were not reproducible by Sanger sequencing. Therefore, in many clinical studies before a firm conclusion from variants identified by NGS, it should be confirmed by an orthogonal method. Reference materials sequenced by Sanger approaches provide ground truth against which the NGS assay can be benchmarked.
The healthcare industry aims to advanced technology to reduce health problems and to extend the lifespan of human beings. Therefore, international brands, as well as thousands of biotechnology start-ups across the globe, are aiming to contribute to humanity by developing new technologies for the healthcare sector.
Many of the evolving biotechnology and genetics start-ups are using DNA sequencing technologies for various applications. These new emerging companies are offering sequencing services that analyze human and animal genomes. For instance, located in Baltimore, United States, Personal Genome Diagnostics Inc. was founded in 2010 and is involved in genome analysis of human tumors. The company develops a patient-specific analysis of cancer by using sequencing tools and technologies.
The report segments the Global Sanger Sequencing Service Market as follows:
Global Sanger Sequencing Service Market – By Application
- Biomarkers and Cancer
- Reproductive Health
- Personalized Medicine
- Other Applications
Global Sanger Sequencing Service Market – By End User
- Academic and Government Research Institutes
- Biotechnology Companies and Pharmaceutical Companies
- Hospitals and Clinics
- Other End Users
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Biomarkers and cancer led the global Sanger sequencing service market by application. In 2018, the biomarkers and cancer segment held the largest share of the market, by application. However, the personalized medicine segment is expected to grow at the fastest rate during the forecast period due to increasing emphasis on tracking down the cause of genetic disorders, along with the need to offer better treatment to these conditions.
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Keywords: Sanger Sequencing Service Market, Sanger Sequencing Service, Biomarkers, Biotechnology