Gene Panel Market: Current Trends, Business Opportunities, Challenges & Global Industry Analysis by 2027
Global Gene Panel Market is expected to register a CAGR of 12.16% during the forecast period, with a market value of USD 4,347.32 Million by 2025.
Gene panel is a test that analyzes multiple genes for cancer-associated mutations at the same time. Gene panels offer a middle ground between single-gene sequencing (like BRCA1), which is certainly involved in disease risk and sequencing every gene in the genome. Gene panels enable the simultaneous screening of several genes. Panels are typically customized for specific screening purposes; thus, the genes and specific gene regions on such panels are unique to the screening goals. The increasing prevalence of cancer and the benefits of gene panels are expected to drive the growth of the global gene panel market. However, limitations in gene panel testing and inaccuracy of the test are expected to hamper the growth of the market.
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MRFR recognizes the following companies as the Key Players in the Global Gene Panel Market— Agilent Technologies Inc. (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd (Switzerland), Qiagen (Germany), Illumina Inc. (US), BGI Genomics (China), Integrated DNA Technologies, Inc. (the US), GENEWIZ (US), Novogene Corporation (US), Personalis, Inc. (the US), GATC Biotech AG (Germany), ArcherDX, Inc. (the US), GeneDx (Switzerland), and CENTOGENE AG (Germany).
The Global Gene Panel Market has been segmented by product & service, Technique, Design, Application, and End User.
The market, based on product & service, has been bifurcated into test kits and testing services. Based on the technique, the global gene panel market has been bifurcated into the amplicon-based approach and hybridization-based approach. On the basis of design, the global gene panel market has been bifurcated into predesigned gene panels and customized gene panels. Based on the application, the global gene panel market has been classified as cancer risk assessment, diagnosis of congenital disorders and pharmacogenetics. The global gene panel market based on end-user has been divided into hospitals, diagnostic laboratories, and others.
The global gene panel market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas are likely to hold the largest share of the global gene panel market during the assessment period. The rising prevalence of cancer and the presence of well-established players are expected to support the dominance of the Americas during the forecast period. Europe established substantial growth in the market owing to the incidence rates for all cancers projected to rise by 2% in the UK between 2014 and 2035, to 742 cases per 100,000 people by 2035. This rising case of cancer, along with improving the efficiency of gene panels, is expected to drive the growth of the market. Asia-Pacific is estimated to be the fastest-growing regional market due to the growing healthcare expenditure and the presence of a large patient pool. The gene panel market in the Middle East & Africa is expected to witness gradual growth due to the increasing healthcare expenditure, rising investments by major market players, and growing patient pool in this region. For instance, according to the International Trade Administration, health expenditure in the UAE was USD 17 billion in 2017 and is expected to reach USD 21.3 billion by 2021.
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