Gene Panel Market by Product, Technique and Geography - Forecast and Analysis 2023-2027

Gene Panel Market Forecast 2023-2027

The global gene panel market size is estimated to grow by USD 3,236.87 million at a CAGR of 18.21% between 2022 and 2027. 

The global gene panels market is expected to benefit from the increasing use of gene panels for the development of targeted cancer therapies. The growing demand for effective therapies in cancer treatment has led pharmaceutical companies to invest heavily in research into targeted therapies. The gene panel test for cancer offers many possibilities, as recent studies show that it can be used to detect hypermutations, which would be a promising biomarker for cancer cells. immune checkpoint inhibitors. Market players are focusing on developing NGS-based gene panels for the treatment of lung adenocarcinoma, which is known to be associated with mutations in various genes including epidermal growth factor receptor (EGFR), tyrosine receptor kinase (ROS1), and lymphoma kinase (ALK). Hence, these factors are expected to contribute to a growth in the use of gene panel tests for evaluating effective cancer treatments, thereby boosting the growth of the global market during the forecast period.

It also includes an in-depth analysis of drivers, trends, and challenges. Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021.

What will be the size of the Gene Panel Market During the Forecast Period?

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Market Segmentation by Product, Technique and Geography Analysis

Product Analysis

Small panel testing

The market share growth by the small panel testing segment will be significant during the forecast period. Small panel testing, also known as targeted gene panel testing, is a type of genetic testing technique involving the testing of several specific genes, which are linked to a particular genetic condition, at the same time. The market has seen an increase in the use of small panel testing, mainly due to the growing need to identify a known gene mutation that exists in a family.

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The small panel testing segment was valued at USD 892.08 million in 2017. Market players offer both pre-designed targeted gene panels and custom-targeted gene panels. While a pre-designed target gene panel provides information on important disease-associated genes (selected from publications and expert advice), a custom target gene panel helps to provide information on specific target regions of the genome relevant to specific research. Factors such as easy availability and relatively lower cost of testing small consoles increase their popularity in the market. Hence, these factors will drive the growth of the market during the forecast period.

Technique Segment Analysis

Amplicon

Amplification engineering is the largest segment in terms of market share in the global market. Amplicon sequencing is a next-generation targeted sequencing (NGS) method that can be used to analyze genetic variation in specific regions of the genome. This method uses a polymerase chain reaction to create a strand of DNA known as an amplicon. Compared with hybrid capture sequencing, amplicon sequencing is a fast and simple targeted sequencing method with a simpler workflow and shorter turnaround time. Due to the precision of the primer design, amplicon sequencing has an inherently higher target ratio than other targeted sequencing methods. Thus, the benefit of the amplification technique drives segment growth and is expected to fuel the growth of the global market during the forecast period.

Hybridization

Hybridization is a next-generation target sequencing technique. DNA or RNA samples were converted into sequencing libraries prior to collection by hybridization. To create the library, samples were randomly divided into fractions by mechanical or enzymatic methods, and a sequencing adapter are added. The hybridization technique is suitable for genotyping and detecting rare variants. The complexity of the detection preference sequence with hybrid probes, unlike amplification sequencing, requires the design of polymerase chain reaction primers to avoid base-pair mismatches due to variations in a single nucleotide (SNV) and indel. The hybridization technique yielded multiple targets in sequence on each panel. Hence, this technique is expected to witness significant growth which in turn boost the growth of the market during the forecast period.

Regional Analysis

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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 that will shape the market during the forecast period. Factors such as the availability of reimbursement policies for gene panel testing are contributing to their raised adoption. A large percentage of third-party payers offer reimbursement for costs associated with genetic testing, helping to reduce the financial burden on patients.

Additionally, factors such as easy patient access and samples needed for gene panel research are also driving players to invest in the market in the region. As a result, the region sees the presence of many large and medium-sized providers with a wide range of services. Furthermore, factors such as the growing prevalence of various genetic disorders and cancers are also contributing to the raised use of gene panels. Hence, these factors are expected to drive the growth of the North American genetic panel market during the forecast period.

COVID Recovery Analysis

The COVID-19 outbreak caused significant disruption in the market in North America in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions. The market started to recover as clinical trials and apheresis resumed their work in the region. The increasing number of cancer patients in the region is expected to drive the growth of the regional market during the forecast period.

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Key Gene Panel Market Companies 

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 15 market companies, including:

Agilent Technologies Inc.: The company offers gene panels such as the ClearSeq Comprehensive Cancer panel.

• Azenta Inc.
• 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

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.

Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

Decreasing the cost of next-generation sequencing (NGS) gene panel tests is the key factor driving the growth of the market. The Growing technological advances and the rising popularity of these tests have contributed to increased adoption, resulting in lower costs for gene panels. Most players now offer large-scale gene panel testing, which helps them achieve economies of scale, thereby reducing costs. In addition, the growing and progressive adoption of NGS-based gene panel tests, which examine only clinically important genes, has made it possible to obtain genomic data quickly and cost-effectively.

Moreover, 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.

Significant Market Trends

Collaboration to maximize research efficiency is the primary trend in the market. The global market is showing an increase in alliances between market players as well as between suppliers and academic institutes. Suppliers forge these alliances to overcome challenges related to gene panel research, production, and marketing. These alliances also include technology transfers to suppliers in specific regions.

For example, Agilent Technologies Inc., one of the leading market players offering a wide range of gene panels, signed a Memorandum of Understanding with Theragen Bio in South Korea in April 2023 According to the terms of the partnership and cooperation agreement, Agilent and Theragen Bio will bring together their own strengths in software development, engineering understandable, and cancer genome profiling (CGP) design to enhance analysis capabilities and accelerate treatment decisions. Therefore, such collaborations are expected to boost the growth of the market during the forecast period.

Major Market Challenges

The lack of effective treatment for several genetic mutations is the major challenge that affects the growth of the market. The global market is expected to face some challenges due to the lack of effective treatment options for many mutated genes. Despite the efficacy of NGS-based precision drugs, factors such as limited or non-existent therapeutic potential associated with specific indications have limited their use. Most pharmaceutical companies and research institutes prefer to focus on providing therapy to patients which are effective. This is primarily aimed at reducing the risk of side effects while also providing an effective treatment.

However, the results of many clinical studies and clinical trials based on genetic panel testing have been found to be ineffective. This is owing to the lack of effective treatment options despite the known number of altered genes. Factors such as high costs associated with equipment and consumables for library preparation and sequencing, quality assessment,  the parallel development of tools to improve sequencing workflows, and bioinformatics add additional costs to providers. Hence, such factors will impede the growth of the market during the forecast period.

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Key Market Customer Landscape

The market 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027. 

• Product Outlook (USD Million, 2017 - 2027)
  • Small panel testing
  • Large panel testing

• Technique Outlook (USD Million, 2017 - 2027)
  • Amplicon
  • Hybridization

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the World
    • Brazil 
    • Argentina
    • Australia

Market Analyst Overview

The Market is witnessing significant growth driven by the increasing prevalence of hereditary disorders and the rising adoption of genetic screening. Recommendations for genetic screening, especially in infants, are leading to early detection and management of monogenic defects.

Technological advancements, such as the BGI Xome - Targeted Monogenic Disease Examination screening panel and Infinium Custom Methylation Kit for methylation patterns, are enhancing the accuracy and efficiency of screening processes. These advancements include pre-designed and customizable gene panels, as well as direct-to-consumer genetic testing kits, which are increasing genetic level awareness among clinicians and the general population.

The market is also benefiting from the expanding applications of gene panels in pre-gestational, prenatal, and neonatal screening, as well as in oncology for identifying tumor genes, biomarkers, and genomic signatures. However, cost factors and the need for laboratory-based conventional genetic analysis technologies remain challenges in the market.

Gene Panel Market Scope
Report Coverage	Details
Page number	161
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 18.21%
Market growth 2023-2027	USD 3,236.87 million
Market structure	Fragmented
YoY growth 2022-2023(%)	17.07
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 43%
Key countries	US, Germany, UK, France, and China
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Agilent Technologies Inc., Azenta Inc., 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., Thermo Fisher Scientific Inc., and BGI Genomics Co. Ltd.
Market dynamics	Parent market analysis, Market Forecasting, 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 market forecast period.
Customization purview	If our 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

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