What is the biblical meaning of "sanctification"?

I understand that sanctification is used as a post-reformational theological term to refer to the ongoing process of Christian growth. But, biblically speaking, is this always what is meant? I know that the word literally means "to make holy," which does not necessitate an ongoing process (and neither a one-time event). I am a bit nervous about limiting the semantic range when something broader may be intended in scripture. So what is the semantic range of the word as used in scripture?