GLOBAL SANGER SEQUENCING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global Sanger Sequencing Market Size and Trends

Global sanger sequencing market is estimated to be valued at USD 3,149.9 Mn in 2024, and is expected to reach USD 10,130.6 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 18.2% from 2024 to 2031.

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Advancements in genome sequencing techniques and reduction in sequencing costs are some of the major factors driving the market growth. However, the market is expected to experience disruption from third generation sequencing platforms which provide higher throughput and longer read lengths at lower costs. Additionally, declining government funding for genome initiatives may hamper the market growth to some extent. Cumulatively, growing application areas of sequencing in clinical diagnosis, biomarkers, and precision medicine are anticipated to provide several opportunities for market expansion.

Market Driver – Declining Costs of Sequencing

The cost of sequencing a human genome has fallen dramatically in recent years. In 2001, sequencing a single genome cost nearly US$ 100 million as the Human Genome Project was just starting. However, the techniques used have advanced rapidly and become more automated. Sanger sequencing is now performed on a mass scale using robotics and computer algorithms to process samples. Through continuous innovation in sequencing technology and scale efficiencies, the cost of sequencing a human genome has dropped to only a few thousand dollars today. This reduction in sequencing costs has made it much more affordable for academic and medical research labs to conduct large-scale sequencing studies. The reduced costs have also enabled clinical genome sequencing for newborn screening, cancer profiling, and precision medicine applications. As sequencing costs decline further in the coming years with next-generation sequencing techniques becoming even more widespread, that expect to see genome sequencing used much more routinely in clinical practice and new applications emerging. This decline in sequencing costs is a primary driver fueling growth in the sanger sequencing market as it expands the potential applications and accessibility of sequencing technology.

Increasing adoption of growth strategies, such as launch of sanger sequencing services, is expected to drive the growth of the market over the forecast period. For instance, in August, 2022, Source BioScience, a provider of genomic services, announced the launch of a sanger sequencing service in California, U.S. to support life science researchers with market-leading genomic services.