Gene Panel Market Size Expected to Grow at a CAGR over 13.72% from 2023 to 2032

Pune, India, January 2022, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Gene Panel Market.

Market Highlights

Global Gene Panel Market is expected to register a CAGR of 13.72% during the forecast period, with a market value of USD 3.49 Billion by 2032.

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.

Segment Analysis

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.

Regional Analysis

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.

Key Players

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).

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Gene Panel Market Research Report

Key Findings of the Study

• The Global Gene Panel Market was valued at USD 2.5 billion by 2030 and is expected to register a CAGR of 13.72% during the assessment period of 2022 to 2030
  

• The Americas accounted for the largest share of the global market

• Based on the product & service, the testing services segment is expected to register the highest CAGR of 13.72% during the forecast period

• Based on the technique, the amplicon-based approach segment is expected to register the highest CAGR of 13.72% during the forecast period

• Based on the design, the predesigned gene panels segment accounted for the largest market share of 6% in 2018
  

• Based on application, the cancer risk assessment segment accounted for a larger market share of 67.8% in 2018

• Based on the end-user, the hospital's segment is expected to register the highest CAGR of 12.68% during the forecast period