With 20.1% CAGR, Gene Panel Market Size to Worth Around USD 8157.6 Million by 2028, Says Brandessence Market Research

LONDON, Aug. 3, 2022 / PRNewswire / – Gene Panel Market was valued at USD 2263.4 Million in 2021 and expected to reach USD 8157.6 Million by 2028 with the CAGR of 20.1% over the forecast period.

The growing prevalence of chronic diseases, the growing number of product launches, and the growing demand for advanced medical testing are key factors expected to drive the Global Gene Panel Market.

Gene Panel Market: Market Scope

The global gene panel market has been showing continuous growth in the last few years in its numbers owing to the increase in the number of company initiatives which have been taken up all over the world. These have been the major factors which are fostering the growth of the market. There has also been an increase in the genetic testing adoption as well as the advancements in technology and a need for the prenatal diagnosis are a few of the other factors which fuel the market growth.

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A gene panel refers to a test which examines many genes at one for the cancer-associated mutations. The gene panels also provide a mid-way between sequencing only a particular gene such as the BRCA1 which is involved in the risk of a disease and sequencing every gene which is in the genome. This is a focused approach which enables the capturing of only the relevant information. A set of gene mutations which are less known but equally significant cause the Lynch Syndrome and also put the people at a higher risk for the colon, stomach, ovarian and endometrial and many other cancers which do not have the syndrome. The prevailing panel tests have the ability to decide for this and the other syndromes which are less common.

Apart from this, the targeted gene sequencing panels also become a powerful tool of analyzing any particular mutation in any given sample. The focused panels also contain a set of genes or the gene regions which are identified or the suspected associations with phenotypes or diseases. The gene panels may be bought with the pre-selected content or can be custom-made for covering the genomic interest regions.

Gene Panel Market: Segmentation Analysis

In terms of segmentation based on design, the market has been led by the predesigned gene panel market. It is expected that the market will also see the greatest growth in the coming years as it concentrates on the genes which are most expected to get involved. The panels help in the saving of resources and also minimize the considerations for the data analysis. The predesigned panels also are convenient for the research on different diseases that can include cardiac conditions, autism, cancer and inherited disorders

On the basis of application, the market has been led by the cancer risk assessment and that segment will also show the greatest amount of growth in the coming years. the identification of the individuals with the suspect heritable cancer may lead to the additional evaluation and also formulate the prevention and also the strategies of treatment. There are government guidelines which also support the growth of the segment.

By Technique

  • Amplicon-based approach
  • Hybridization-based approach

By Products & Services

  • Kits test
  • Testing Services

By Design

  • Predesigned Gene Panels
  • Customized Gene Panels

By Application

  • Cancer Risk Assessment
  • Diagnosis of Congenital Disorders
  • Pharmacogenetics
  • Others

By End Users

  • Hospital and Diagnostic Laboratories
  • Research Institutes
  • Biotechnology and Pharmaceutical Companies

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Gene Panel Market: Competitive Analysis

Some of the major gene panel companies 2021 are the companies such as BGI, Integrated DNA Technologies, Thermo Fisher Scientific Inc, Genewiz, Inc., Qiagen Novogene Corporation, and others. The global gene panel key players are working on innovation and ease of conducting tests. They are now working to make the analysis of the test a lot more specific.

  • Agilent Technologies
  • QIAGEN
  • Themo Fischer Scientific
  • GeneDx Inc
  • Eurofins Scientific
  • Illumina Inc.
  • Novogene Co., Ltd.
  • GATC Biotech
  • Invitae Corporation
  • Novogene Co., Ltd.

Gene Panel Market: Key Drivers

Gene panel growth drivers include the applications that exist in the market. The gene panels get used in the treatments and diagnostic for the illnesses such as cancer. The cancer risk assessment, syndrome-specific diagnostics, diseases penetration and some other applications are the common ones in the gene panels. On basis of the researches by World Health Organizations, the contribution of the diseases is expected to rise in all the deaths and global disease burden. The demand for the gene panels is further going to be enhanced over the coming years with the prevalence of the chronic obstructive pulmonary diseases as well as diabetes.

This is going to upsurge the demand ultimately for the gene panels over the coming years. The diagnostic of the breast cancer and tests related to it are also seeing an increase considering the prevalence of breast cancer in women. Apart from this, a single test provides a lot more information about women being suspect to the hereditary predisposition for the ovarian and breast cancer. Apart form this, in a comparison of tests, there is no difference between this test known as the BRCA ½ test and the other tests

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Gene Panel Market: Key Trends

Gene panel trends suggest that the major challenge is going to be the protection of data. The genetic data is the data which is most personal for any individual. Furthermore, it is also an ultimate unique identifier of every single living being. Apart from this, the information breaches with regard this cannot be retrieved because it is not akin to the other website or the banking passwords which might be changed over a span of time. The gene data for every single living thing all over the world is unique and also may not be changed across a lifetime. This may also restrict the use of the gene testing all over the research and development and the healthcare sector.

Because this data has so much value, it also offers the incentives to the hackers for targeting the genetic databases for acquiring the data which can be used for an identity or financial fraud. The development of the research institutes privately as well as the support of government in strengthening the research has ultimately created multiple opportunities in the market. Gene panel 2022 therefore looks like a market which will see continuous growth.

Gene Panel Market: Regional Analysis

Gene panel statistics suggest that the North American region will be accounting for the biggest share in the market and it is going to grow at the greatest growth rate in the coming years. The consumers demand the safe and effective tests which is going to fuel the growth in the global gene panel market. However, it is the growth in the demand for the personalized medicine and the growth in the application in oncology testing which will fuel the growth. A rise in the geriatric population is also increasing the market growth.

On Special Requirement Gene Panel Market Report is also available for below region:

North America

Europe

  • Germany, FranceUK, Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, BelgiumRest of Europe

Asia-Pacific

  • South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, IndonesiaRest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, PeruRest of Latin America

Middle East and Africa

  • Saudi ArabiaUAE, Egypt, South AfricaRest of MEA

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