Rising prevalence of cancer across the globe and increasing usage of gene panel in targeted therapies for cancer are key key factors boosting market revenue growth
Market size: USD 1.8 billion in 2020, Market Growth: CAGR of 19.6%, Market Trends: Technological advancements in diagnostics sector
The Global Gene Panel Market size is expected to reach USD 7.24 billion in 2028 and register a CAGR of 19.6% over the forecast period, according to the latest report by Reports and Data. Key factors such as rising adoption of genetic testing and increasing disorders due to genetic mutation are augmenting demand for gene panels and fueling global market revenue growth.
Gene panel tests help in analyzing multiple genes for cancer-related alterations at the same time and comprise two specific genes – BRAC1 and BRAC2 – that are in charge of generating proteins that suppress tumors and prevent growth of tumor cells and also help in repairing damaged DNA. Rising prevalence of genetic diseases caused by genetic mutations, rapidly increasing number of cancer cases, advancements in NGS technology, and growing adoption of gene panels – particularly in developed economies – are some other factors fueling global market growth. In addition, major players are investing in research and development activities with rising focus on developing more enhanced products. In addition, government funding and support for population sequencing is another key factor expected to boost global market growth going ahead.
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However, stringent regulations imposed on pharmaceutical companies, low awareness regarding advantages of using gene panels in some developing countries, and rising concerns regarding safety of genetic data are some factors expected to limit growth of the gene panel market over the forecast period.
Some key highlights from the report:
- Among the product & services segments, the test kits segment is projected to account for significantly large revenue share during the forecast period due to increasing demand for gene panel kits, especially in research and diagnostics centers, owing to rising prevalence of various infectious diseases and genetic disorders in countries around the globe.
- Among the technique segments, the hybridization-based approach segment revenue is expected to expand at a fast CAGR between 2021 and 2028 due to growing adoption of this technique due to its use for genotyping and sequencing rare variants.
- Among the application segments, the cancer risk assessment segment is expected to account for substantial revenue growth throughout the forecast period owing to increasing prevalence of cancer and growing demand for gene panels in genomic research and diagnostics sectors.
- Asia Pacific market is expected to register robust double-digit revenue CAGR of 18.7% over the forecast period owing to factors such as large patient pool, rapidly increasing number of cancer cases, and increasing healthcare expenditure in countries in the region.
- Europe is projected to account for robust revenue share during the forecast owing to increasing prevalence of cancer, launch of enhanced gene panels, and high funding for research and development activities in countries in the region.
- Major players operating in the global gene panel market are 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. (US), GENEWIZ (US), Novogene Corporation (US), Personalis, Inc. (US), GATC Biotech AG (Germany), ArcherDX, Inc. (US), GeneDx (Switzerland), and CENTOGENE AG (Germany).
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For this study, Reports and Data has segmented the global gene panel market based on product & services, technique, design, application, end use, and region:
Based On Product & Services (Revenue, USD Billion, 2018 - 2028)
- Test Kits
- Testing Services
Based On Technique (Revenue, USD Billion, 2018 - 2028)
- Amplicon-based Approach
- Hybridization-based Approach
Based On Application (Revenue, USD Billion, 2018 - 2028)
- Cancer Risk Assessment
- Syndrome-specific
- High-penetrance
- High and Moderate-penetrance
- Comprehensive Cancer Risk
- Diagnosis of Congenital Diseases
- Pharmacogenetics
- Other Applications
Based On Design (Revenue, USD Billion, 2018 - 2028)
- Predesigned Gene Panel
- Customized Gene Panel
Based On End Use (Revenue, USD Billion, 2018 - 2028)
- Research and Academic Institutes
- Hospital and Diagnostic Laboratories
- Pharmaceutical and Biotechnology Companies
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Based On Region: (Revenue, USD Billion, 2018 - 2028)
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- France
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
Key Questions Addressed in the Report:
- What are the key outcomes of SWOT analysis and Porter’s Five Forces Analysis?
- Which are the key companies operating in the Gene Panel market?
- What are the key revenue growth driving and restraining factors of the Gene Panel industry?
- What business strategies are the top companies rapidly adopting to gain market size?
- Which region is expected to account for largest revenue share in the global market?
The Global Gene Panel Market report covers the assessment of the key players and their market scope through advanced analytical tools such as SWOT analysis, Porter’s Five Forces analysis, feasibility study, and investment return analysis. The statistical analysis provides accurate assessment of the growth of the major manufacturers/companies operating in the industry. The report covers analysis of the factors that directly influence the growth of the market such as marketing strategies, development platforms, product portfolio, and others.
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Table of Content:
- Introduction
2. Key Takeaways
3. Gene Panel Market Landscape
3.1. Market Overview
3.2. Market Segmentation
3.2.1. Gene Panel Market - By Product & Services
3.2.2. Gene Panel Market - By Technique
3.2.3. Gene Panel Market - By Application
3.2.4. Gene Panel Market - By Design
3.2.5. Gene Panel Market - By Region
3.2.5.1. By Country
3.3. Pest Analysis
3.3.1. North America - PEST Analysis
3.3.2. Europe - PEST Analysis
3.3.3. Asia Pacific - PEST Analysis
3.3.4. Latin America- PEST Analysis
3.3.5. Middle East and Africa - PEST Analysis
4. Gene Panel Market - Key Industry Dynamics
4.1. Key Market Drivers
4.2. Key Market Restraints
4.3. Key Market Opportunities
4.4. Future Trends
4.5. Impact Analysis
5. Gene Panel Market - Global Analysis
5.1. Global Gene Panel Market Overview
5.2. Global Gene Panel Market Revenue Forecasts And Analysis
5.3. Market Positioning/Market Share
5.4. Performance Of Key Players
5.5. Clinical Trials
5.6. Expert Opinions - Gene Panel Market Revenue And Forecasts 2018 To 2028- By Product & Services
Continued….
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