Gene Panel Market Analysis
A gene panel is a type of test that helps to analyze multiple genes at the same time for cancer-associated mutations. This test is capable of analyzing many numbers of genes that can provide cancer information and provide a reliable diagnosis to help avoid or stop spreading cancer.
According to Market Research Future (MRFR), The Global Gene Panel Market is expected to post a CAGR of 12.16 per cent to cross USD 4,347.32 million by 2018 to 2025 (forecast period). The report is a great combination of qualitative and quantitative information that highlights key business trends, challenges faced by industry and competition as well as trend in the Gene Panel Market.
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Gene Panel Market Dynamics
Due to the rise in the prevalence of chronic diseases worldwide, the global gene panel market is projected to grow significantly. An increase in the number of company initiatives worldwide and the advantages of gene panels are major factors expected to propel the gene panel market during the forecast period. But strict rules and regulations for pharmaceutical firms and health issues about genetic data are likely to hamper the gene panel market. However, ongoing research and development in the field of gene sequencing are expected during the forecast period to pose substantial opportunities for market growth.
Gene Panel Market Segmentation
The Global Gene Panel Market has been segmented by product & service, technology, design, application, and end user.The market was bifurcated into test kits and test services, based on product & service. Based on the technology, the global market for gene panels has been bifurcated into an amplicon-based approach and a hybridization-based approach. Based on the design, the global market for gene panels was divided into pre-designed gene panels and customized gene panels.The global gene panel market was listed, based on application, as cancer risk assessment, congenital condition diagnosis, and pharmacogenetics. The end-user-based gene panel market was divided into hospitals, diagnostic laboratories, and others.
Gene Panel Market Regional Analysis
The region-based global gene panel market was divided into the United States of America, Europe, Asia Pacific, and the Middle East & Africa.
The United States of America is likely to lead the global demand for gene panels. This can be attributed to the region’s growing cancer prevalence. In 2017 nearly 1,688,780 new cases were reported in the US. It is estimated that the European gene panel market will be second-largest during the forecast period. The incidence rates for all cancers are expected to increase to 742 cases per 100,000 people by 2 percent in the UK between 2014 and 2035.
This growing cancer case, coupled with improved gene panel performance, is expected to drive market growth. Due to the growing healthcare expenditure and the existence of a wide patient pool, the Asia Pacific market is expected to register a significant growth rate during the forecast period.
The Middle East & Africa market is increasing healthcare spending, increasing investments by major market players and growing patient pool in this area. For example, according to the International Trade Administration, in 2017, expenditure in the UAE was USD 17 billion, and by 2021 is projected to hit USD 21.3 billion.
Gene Panel Market Key Players
The key players 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. (the US), GENEWIZ (US), Novogene Corporation (US), Personalis, Inc. (US), GATC Biotech AG (Germany), ArcherDX, Inc. (the US), GeneDx (Switzerland), and CENTOGENE AG (Germany).
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Gene Panel Industry News
In October 2019, Qiagen and Illumina (US) announced a 15-year agreement to expand the development and use of NGS-based in-vitro diagnostic (IVD) kits for patient management and companion diagnostics. This partnership has become a central pillar of Qiagen’s NGS strategy, which continues to include universal solutions for use with any sequencer, as well as the GeneReader NGS System for mainly use with smaller, targeted gene panels. In June 2018, Thermo Fisher Scientific released the next-generation library preparation innovation Ion AmpliSeq HD technology, which allows clinical researchers to build custom gene panels and interrogate highly heterogeneous tumor samples.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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