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The Global Gene Panel Market size is estimated to grow by USD 5.40 billion, at a CAGR of 23.44% between 2023 and 2028. The growing technological advances and the rising popularity of these tests have contributed to increased adoption, resulting in lower costs. Most players now offer large-scale gene panel testing, which helps them achieve economies of scale, thereby reducing costs. In addition, the cost of gene panel testing varies between laboratories and the number of genes included. However, in most cases, the cost of large-scale testing is not significantly different from the cost of small-scale testing. Several commercial service providers offer whole-genome sequencing and related services for less than USD 1,000. The growing popularity of genomic panel testing in various indications and the associated cost reduction is expected to increase the demand for testing. Thus, such factors will drive the growth of the market during the forecast period.
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The market encompasses a significant segment in the healthcare industry, focusing on identifying genetic predispositions to various hereditary disorders, including cancer, cardiovascular diseases, diabetes, arthritis, and other multiple chronic conditions. Genetic screening through gene panels allows clinicians to diagnose genetic conditions and assess disease prognostics, enabling personalised therapeutic approaches. Gene panels consist of a set of genes associated with monogenic defects or genetic alterations, which are sequenced to identify specific genetic compositions linked to various diseases.
The market share growth by the small panel testing segment will be significant during the forecast period. The market encompasses a range of diagnostic tools utilized for identifying genetic variations associated with various inherited SNPs, Indels, and genetic disorders. These panels employ advanced genomic technologies, such as the Hybridization approach, CD Genomics, and Next-Generation Sequencing (NGS), to facilitate the detection of genetic alterations in Hereditary diseases and Rare disorders. CRISP validation plays a crucial role in ensuring the accuracy and reliability of these panels. Hospitals and diagnostic laboratories increasingly adopt these advanced diagnostic solutions for Cancer risk assessment, Congenital diseases, and congenital disorders. The use of Gene Panels extends to Oncology, where they contribute significantly to Personalised Medicine by providing valuable genetic information for treatment decisions.
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The small panel testing segment was valued at USD 1.03 billion in 2018. The market includes Diagnostic Panels, Carrier Screening Panels, Pharmacogenomic Panels, and Cancer Panels. Standardisation and permission processes are essential for ensuring the clinical value and evidence-based utility of these panels. Reimbursement policies and Insurance coverage are critical factors influencing the adoption of these solutions in various healthcare settings. Genomics, Sequencing, and Data analysis are integral components of Gene Panel development and application. Genetic testing and Hereditary diseases are primary applications of these panels, which can significantly impact patient care and management. The market for Gene Panels is expected to grow substantially due to the increasing prevalence of Genetic Disorders and the potential for improved patient outcomes through early and accurate diagnosis.
Amplification engineering is the largest segment in terms of market share in the global market. Chronic diseases such as cardiovascular diseases, diabetes, and arthritis pose a substantial burden on adults, especially those with multiple chronic conditions. Gene panel testing plays a crucial role in the early detection and diagnosis of these conditions, thereby reducing fatalities and improving patient outcomes. Cardiovascular diseases, for instance, can be identified through gene panel testing, enabling timely intervention and management. Similarly, diabetes and arthritis can be diagnosed and monitored effectively using these tests. Further, the market is a vital component of the healthcare industry, focusing on diagnostics services for chronic conditions such as cardiovascular diseases, diabetes, and arthritis. Gene panel testing using test kits contributes to improved patient outcomes, reduced fatalities, and effective disease management in adults with multiple chronic conditions.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The Market encompasses a range of diagnostic tools utilized for identifying genetic variations associated with various inherited SNPs, Indels, and genetic disorders. These panels employ advanced genomic technologies, such as the Hybridization approach, CD Genomics, and Next-Generation Sequencing (NGS), to facilitate the detection of genetic alterations in Hereditary diseases and Rare disorders. CRISP validation plays a crucial role in ensuring the accuracy and reliability of these panels. Hospitals and diagnostic laboratories increasingly adopt these advanced diagnostic solutions for Cancer risk assessment, Congenital diseases, and congenital disorders.
The use of Gene Panels extends to Oncology, where they contribute significantly to Personalised Medicine by providing valuable genetic information for treatment decisions. The market for Gene Panels includes Diagnostic Panels, Carrier Screening Panels, Pharmacogenomic Panels, and Cancer Panels. Standardisation and permission processes are essential for ensuring the clinical value and evidence-based utility of these panels. Reimbursement policies and Insurance coverage are critical factors influencing the adoption of these solutions in various healthcare settings. Genomics, Sequencing, and Data analysis are integral components of Gene Panel development and application. Genetic testing and Hereditary diseases are primary applications of these panels, which can significantly impact patient care and management. The market for Gene Panels is expected to grow substantially due to the increasing prevalence of Genetic Disorders and the potential for improved patient outcomes through early and accurate diagnosis.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Agilent Technologies Inc.: The company offers gene panels such as the ClearSeq Comprehensive Cancer panel.
Azenta Inc., BGI Genomics Co. Ltd., CENTOGENE NV, Color Health Inc., Danaher Corp., Eurofins Scientific SE, F. Hoffmann La Roche Ltd., Fagron NV, GenXPro GmbH, Illumina Inc., Invitae Corp., MedGenome Labs Ltd., MGZ Medizinisch Genetisches Zentrum, Novogene Co. Ltd., OPKO Health Inc., Oxford Nanopore Technologies plc, QIAGEN NV, Quest Diagnostics Inc., and Thermo Fisher Scientific Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The mortality rate for individuals with diagnosed genetic conditions can be substantially higher than those without, emphasizing the importance of genetic testing and early intervention. The market caters to various therapeutic areas, including oncology, where cancer rates are influenced by genetic predispositions. Genomics plays a crucial role in gene panel development, with sequencing technologies enabling the identification of genetic alterations that contribute to disease development. In summary, the Market is a vital component of personalized medicine, offering clinicians and patients essential insights into genetic predispositions and enabling targeted therapeutic interventions. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The growing use of gene panels in cancer-targeted therapies is the key factor driving the market. Aligning with market growth and trends, the market holds significant potential in addressing the unmet diagnostic and therapeutic needs for chronic diseases, particularly in the context of cancer. With the increasing prevalence of fatalities due to cardiovascular diseases, diabetes, and arthritis among adults suffering from multiple chronic conditions, there is a pressing demand for advanced diagnostics services. Which incorporate clinically relevant target sequences into NGS based tests, offering a promising solution.
Further, gene tests enable the identification of mutated genes responsible for various diseases, paving the way for the development of targeted therapies. The therapeutic areas that stand to benefit from this technological advancement are vast and include, but are not limited to, oncology. The growing investment in research and development by pharmaceutical companies underscores the market's potential. In summary, the Market is poised to revolutionize the diagnostics landscape by providing accurate and timely information, ultimately leading to improved patient outcomes.
Collaboration to maximize research efficiency is the primary trend shaping the market. Aligning with market trends and analysis, in the realm of life sciences, the market is experiencing significant pressure to decrease costs, particularly in the context of diagnostics services for chronic diseases such as cardiovascular diseases, diabetes, and arthritis among adults with multiple chronic conditions. To address these challenges, vendors are forming strategic alliances along the value chain. These collaborations extend to academic institutions and involve the transfer of technology to regional partners.
For instance, Agilent Technologies Inc., a prominent player in the market, entered into a Memorandum of Understanding (MOU) with Theragen Bio in South Korea in April 2023. This alliance aims to enhance the manufacturing and commercialization capabilities of gene panels, ultimately improving diagnostics and contributing to the therapeutic areas for fatalities associated with these chronic conditions.
Large NGS gene panel implementation issues is the major challenge that affects the market growth. the market plays a significant role in the diagnostics services for various chronic diseases, including cardiovascular diseases, diabetes, and arthritis. Fatalities caused by these conditions can be minimized through early and accurate detection, which is facilitated by the use. NGS technology, a key player in gene panel implementation, enables the acquisition of genetic information from multiple genes, providing a comprehensive understanding of an individual's mutational profile.
Consequently, such information is crucial for the development of targeted therapies in therapeutic areas such as oncology. Adults with multiple chronic conditions can benefit greatly from the use of the test kits, as they are often at higher risk for complex diseases. NGS technology, with its ability to decode genetic information in a faster, easier, and more cost-effective manner than conventional methods, is essential for the advancement of personalized medicine in the healthcare industry.
The market forecast report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market is a significant sector in the genetic testing industry, driven by advances in technology and the increasing demand for personalized medicine. This market encompasses the production and distribution of gene panels, which are sets of genes analyzed together to identify genetic variations associated with specific diseases or conditions. The use of gene panels in diagnostics and research is growing, particularly in the fields of oncology and rare diseases. The market is expected to expand due to the rising prevalence of genetic disorders and the increasing awareness of the benefits of genetic testing. Additionally, the development of next-generation sequencing technologies and the growing adoption of telemedicine are expected to further fuel market growth. Gene panels are used in various applications, including prenatal testing, newborn screening, and disease diagnosis and monitoring. The market for gene panels is expected to experience steady growth in the coming years.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.44% |
Market growth 2024-2028 |
USD 5.40 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
18.67 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 43% |
Key countries |
US, Germany, UK, China, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agilent Technologies Inc., Azenta Inc., BGI Genomics Co. Ltd., CENTOGENE NV, Color Health Inc., Danaher Corp., Eurofins Scientific SE, F. Hoffmann La Roche Ltd., Fagron NV, GenXPro GmbH, Illumina Inc., Invitae Corp., MedGenome Labs Ltd., MGZ Medizinisch Genetisches Zentrum, Novogene Co. Ltd., OPKO Health Inc., Oxford Nanopore Technologies plc, QIAGEN NV, Quest Diagnostics Inc., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Technique
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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