Portland, OR, July 23, 2019 (GLOBE NEWSWIRE) -- According to the report, the Sanger’s sequencing service market was pegged at $428.34 million in 2018 and is projected to garner $1.08 billion by 2025, registering a CAGR of 14.2% during the forecast period. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
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Technological advancements in Sanger’s sequencing, rise in genome mapping programs, and surge in applications of Sanger’s sequencing have boosted the growth of the global Sanger’s sequencing service market. However, lack of skilled professionals and standardization concerns over sequencing-based diagnostics hamper the market. On the contrary, use of cloud computing serves as a potential data management service and untapped potential of emerging markets are expected to create lucrative opportunities in the near future.
The global Sanger’s sequencing service market is divided on the basis of application, end user, and geography. Based on application, the market is segmented into diagnostics, biomarkers & cancer, reproductive health, personalized medicine, forensics, and others. The biomarker & cancer segment held the largest share in 2018, accounting for more than one-third of the market. However, the personalized medicine segment is projected to portray the fastest CAGR of 16.1% during the forecast period.
On the basis of end user, the market is bifurcated into academic & government research institutes, pharmaceutical companies, biotechnology companies, and hospitals & clinics. The academic & government research institutes segment dominated the market in 2018, accounting for nearly one-third of the market. However, the biotechnology companies segment is projected to portray the fastest CAGR of 14.9% during the forecast period.
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The global Sanger’s sequencing service market is analyzed across various regions such as U.S., Europe, Japan, China, India, Southeast Asia, and the rest of the world (ROW). The market across the U.S. held the largest share in 2018, contributing more than two-fifths of the market. However, the market across the China region is projected to portray the fastest CAGR of 17.2% through 2025.
The market report provides an in-depth analysis of the major market players such as GenScript Biotech Corporation, Source BioScience, LGC Science Group Limited, Thermo Fisher Scientific, Inc., CeMIA SA, Quintara Biosciences, Fasteris SA, GENEWIZ, GenHunter Corporation, SciGenom Labs Pvt. Limited, Nucleics, and Microsynth AG. Inc. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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