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Key Emerging Trends in the Gene Panel Market
The market is poised for significant and lucrative growth, primarily attributed to the increasing incidence of various types of cancer, encompassing fallopian tubes, ovaries, and breasts in women, and prostate cancer in men.
Cancer exerts a profound impact on societies globally, ranking as the second leading cause of death according to the World Health Organization (WHO). The WHO reported an estimated 9.6 million deaths attributed to cancer in 2018, making up approximately 1 in 6 deaths worldwide. Notable types of cancer, such as breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, and skin melanoma, are recognized as the most prevalent in the United States, as indicated by the National Cancer Institute.
The statistics from the World Cancer Research Fund International further highlight the significance of breast cancer as the most common cancer among women globally, contributing to 25.4% of newly diagnosed cases in 2018. Cervical cancer, ranking as the fourth most common cancer among women, accounted for 6.9% of new cases diagnosed in the same year. In the United Kingdom, Cancer Research UK reports prostate cancer as the most prevalent cancer among males, with approximately 47,600 new cases recorded in 2016. Additionally, the American Cancer Society's estimates for ovarian cancer in the United States in 2019 predict around 13,980 women succumbing to ovarian cancer.
The imperative to delve deeper into the inherited risk of cancer has become increasingly evident. The exploration and comprehension of this risk are facilitated by the development of gene panels, targeting not only clinically actionable susceptibility genes but also those lacking sufficient evidence for risk, and candidate genes related to DNA repair pathways. This approach, as stated in a 2017 study published in the Annals of Surgical Oncology, has demonstrated the improvement in the identification of hereditary breast cancer risk through expanded gene panel testing.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Technological advancement in the field of biotechnology. |
| Market Dynamics | Increased cases of chronic diseases and rising investments by government and market players. |
Gene Panel Market Highlights:
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