According to Markntel Advisors Report, Gene Panel Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
A gene panel is a set of multiple genes defined to analyze the mutations or variations associated with a specific disease or condition. This type of testing can help determine an individual's risk for developing certain conditions and follow the most effective treatment decisions as soon as possible.
Global Gene Panel Market Research Report & Summary:
The Global Gene Panel Market size was valued at around USD 3.1 billion in 2023 & is estimated to grow at a CAGR of around 14.2% during the forecast period, i.e., 2024-30.
Time Period Captured in the Report:
- Historical Years: 2019-22
- Base Years: 2023
- Forecast Years: 2024-2030
Who are the Key Players Operating in the Gene Panel Market?
The top companies of the Gene Panel Market ruling the industry are:
Illumina, Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Qiagen Inc., Eurofins Scientific Se, BGI, F. Hoffmann-La Roche AG, Integrated DNA Technologies Inc., Genewiz, Inc., Novogene Corporation, Personalis, Inc., Gatc Biotech AG, Archerdx, Genedx, Centogene AG, and others
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Gene Panel Industry Recent Development:
- 2024: Thermo Fisher on the Rise of Next-Generation Sequencing CDx, i.e., NGS-based in vitro diagnosing focusing on traditional Sanger sequencing and the polymerase chain reaction (PCR) methods.
What is Included in Gene Panel Market Segmentation?
The Gene Panel Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
-By Product & Service
-Test Kits- Market Size & Forecast 2019-2030, USD Million
-Testing Services- Market Size & Forecast 2019-2030, USD Million
-By Technique
-Amplicon Based Approach- Market Size & Forecast 2019-2030, USD Million
-Hybridization Based Approach- Market Size & Forecast 2019-2030, USD Million
-By Design
-Predesigned Gene Panel- Market Size & Forecast 2019-2030, USD Million
-Customized Gene Panel- Market Size & Forecast 2019-2030, USD Million
-By Application
-Cancer Risk Assessment- Market Size & Forecast 2019-2030, USD Million
-Diagnosis of Congenital Diseases- Market Size & Forecast 2019-2030, USD Million
-Pharmacogenetics- Market Size & Forecast 2019-2030, USD Million
-Others- Market Size & Forecast 2019-2030, USD Million
-By End User
-Academic & Research Institutes- Market Size & Forecast 2019-2030, USD Million
-Hospital & Diagnostic Laboratories- Market Size & Forecast 2019-2030, USD Million
-Pharmaceutical & Biotechnology Companies- Market Size & Forecast 2019-2030, USD Million
-By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
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Market Dynamics -Global Gene Panel Market:
Increasing incidences of Cancer & Genetic Disorders – The increase in the number of cancer and other genetic disorders are the key drivers of the Gene Panel Market.
For instance,
- As per Global Cancer Statistics 2024, an estimated 20 million cancer cases were newly diagnosed in 2022 and 9.7 million people died from the disease worldwide. By 2050, the number of cancer cases is predicted to reach around 35 million.
An increase in such cases drives the demand for genetic tests that can identify specific mutations and guide some targeted treatment or therapy. Additionally, an increase in awareness against genetic disorders fuels the need for gene panels for early diagnosis and management if found some symptoms. Multi-genes panels focus on a wide range of genetic conditions simultaneously hence finding the disorder in no time. Moreover, as gene panels diagnose only a specific set of genes instead of all genes inside the body, they save time as well as cost hence increasing their demand and ultimately augmenting the revenue growth of the gene panel industry globally.
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