Gene Panel Market Outlook: growth, drivers and forecast report by 2032

Market Overview

The Global Gene Panel Market Share is expected reach USD 3.49 billion by 2032 at 13.72% CAGR during the forecast 2023-2032.

A gene panel test is a type of genetic testing that sequences the entire genome of a patient accused of carrying diseases based on genetic abnormalities or that are genetically inherited, such as cancer, cardiovascular disease, and many others. Pharmacogenetics, congenital disease detection, and cancer risk assessment are just a few of the uses for gene panels.

A gene panel is a useful diagnostic tool for detecting and predicting rare genetic changes that spread diseases like Lynch Syndrome (hereditary non-polyposis colorectal cancer), which puts patients at a higher risk than other cancers like stomach, ovarian, and colon cancer. Targeted gene panels can be used to look for specific gene mutations linked to a disease or a phenotypic attribute that is being studied or researched. Recent breakthroughs in gene sequencing have resulted in the development of user-specific gene panels.

Market Segmentation

Design, Application, Technique, and Geography are the four Gene Panel Market Report Segment.

Techniques for obtaining market data include:

●       Amplicon-Based Methodology

●       Hybridization-Based Methodology

The market is divided into two types of techniques: The amplicon-Based Approach and the Hybridization-Based Approach. The hybridization-based approach had the biggest market share and was expected to increase at a CAGR of 22.22 percent over the projection period.

Global Gene Panel Market, By Design

●       Predesigned Gene Panels

●       Customized Gene Panels

The Global Gene Panel Market Outlook has been split into Predesigned Gene Panels and Customized Gene Panels based on design.

Global Gene Panel Market, By Application

●       Pharmacogenetics

●       Cancer Risk Assessment

●       Diagnosis of Congenital Disorders

●       Others

Based on Application, the market is segmented into Pharmacogenetics, Diagnosis of Congenital Disorders, Cancer Risk Assessment, Others.

Competitive Landscape

The most prominent major Gene Panel Market Players in the global market are mentioned below:

Agilent Technologies Inc. (U.S.), Thermo Fisher Scientific (U.S.), Hoffmann-La Roche Ltd (Switzerland), Qiagen (Germany), Illumina Inc. (U.S.), BGI Genomics (China), Integrated DNA Technologies, Inc. (U.S.), GENEWIZ (U.S.), Novogene Corporation (U.S.), Personalis, Inc. (U.S.), GATC Biotech AG (Germany), ArcherDX, Inc. (U.S.), GeneDX (Switzerland), CENTOGENE AG (Germany),

Regional Classification

The global Gene Panel Market Data is divided into five regions: the Middle East, North America, Asia Pacific, Latin America, Europe, and Africa.

Because of increased collaborations and partnerships among industry participants, North America is likely to have a leading position in the global gene panel market over the forecast period. In October 2019, for example, Illumina, Inc., an American biotechnology company, and QIAGEN, a German molecular diagnostics company, established 15-year cooperation to expand the availability of next-generation sequencing-based clinical diagnostics for gene panels.

Industry News

·        Increased cancer cases of various sorts, such as cancer of the ovaries, fallopian tubes, breast cancer, prostate cancer in males, and rising global prevalence of chronic diseases, are driving the gene panel market. Furthermore, a growing number of initiatives by various companies throughout the world and other advantages of gene panels are important factors encouraging the gene panel market. On the other hand, strict policies and regulations for pharmaceutical companies and protection issues about genetic data are the major challenges faced by the gene panel market and hampering the growth.

·        One of the key reasons the area has become a primary medical service provider is its booming biotechnology industry and greater knowledge of new technologies. Even though gene panel testing is reliable, the test's limitations and inaccuracy are predicted to stymie industry growth. Moreover, the market is expected to be stifled due to rigorous laws and safety concerns around gene panels. Regardless, continued genome sequencing research and innovation are projected to increase the demand for genetic testing.

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