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.
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.
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),
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.
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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