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Gene Panel Market Present Scenario and Growth Prospects Analysis by Key Players upto 2023 

July 24th, 2019 Market Research Future Releases

Market Scenario

The Global Gene Panel Market is expected to reach an approximate CAGR of ~19% during the forecast period. The rising prevalence of genetic diseases and cancer is the key factor for the market to grow. According to the Cancer Research U.K., in 2012, 14.1 million cases of cancer were diagnosed all over the world, and 8.2 million died due to cancer. It also projected that the number of cancer patients is expected to reach 23.6 million by 2030.

The increase in adoption of genetic testing, rising company initiatives, technological advancements such as Next Generation Sequencing (NGS) system, and the need for efficient prenatal diagnosis are important factors influencing the growth of the market. It is estimated that Next-Generation Sequencing (NGS) enables to sequence the entire DNA and RNA sequences in order to detect the presence of any mutation in the genome. With these diagnostic benefits of gene panel, the market is projected to grow rapidly.

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However, factors such as high cost of testing followed by erroneous results and security concerns for the genetic data are estimated to hinder the market growth during the forecast period.

Key players

Some of the key players for the global gene panel market are

  • Thermo Fisher Scientific
  • Hoffmann-La Roche AG
  • Illumina, Inc.
  • BGI (China)
  • Agilent Technologies
  • Integrated DNA Technologies (IDT)
  • Eurofins Scientific
  • QIAGEN
  • GENEWIZ
  • Novogene Corporation
  • Personalis
  • GATC Biotech AG (GATC Biotech)
  • ArcherDx
  • CENTOGENE AG

Segmentation

The global gene panel market is segmented on the basis of product and service, technique, design, application, and end-user. The gene panel market, by product and service, is segmented into test kits and testing services. The global gene panel market by technique is segmented into the amplicon-based approach and hybridization-based approach. The design segment is segmented into predesigned gene panels and customized gene panels. On the basis of application, the market is categorized into cancer risk assessment, pharmacogenetics, diagnosis of congenital disorders, and other applications. The cancer risk assessment segment is further sub-segmented into syndrome-specific gene panels, high-penetrance gene panels, high and moderate-penetrance gene panels, and comprehensive cancer risk panels. On the basis of end-user, the market is categorized into hospitals, diagnostic laboratories, research and academic institutes, and pharmaceutical and biotechnology companies.

Regional Market Summary

The gene panel market is dominated by Americas owing to the increasing prevalence of chronic diseases such as cancer. The American Cancer Society, Inc., estimated that there would be 1,735,350 new cancer cases diagnosed in the United States in 2018. Increasing cancer care expenditure in the United States is likely to drive the market growth. The U.S. Department of Health and Human Services estimated USD147.3 billion national expenditures for cancer care in 2017. The growing biotech sector in the U.S. also drives the market growth in this region. According to Statista (2015), around 108 billion U.S. dollars revenue was generated from the biotech sector in U.S. Additionally, the presence of the highest concentration of biotech companies in the U.S. influences the growth of the market.

According to Eurostat, in 2014, 26.4% of the total death number was due to cancer. These concerns, enhance the research and development activities in Europe, thereby influencing the growth of the market.

It is estimated that Europe stood second in the global gene panel market. Increasing research and development activities for cancer and congenital diseases drive the growth of the market in Europe.

Asia Pacific will witness growth for the gene panel market owing to growing prevalence of cancer. China accounts for the largest prevalence of cancer in the Asia Pacific region. The American Cancer Society, Inc., in 2012 estimated that China accounted for 48.9% of the total cancer cases in South-Eastern Asia and India and Japan accounted for 16.2% and 11.2%, respectively. Additionally, increasing health expenditure in Asia Pacific influences the market growth.

The Middle East and Africa is expected to witness growth at a slower pace due to the less exposure to healthcare services and low per capita healthcare expenditures in the African region. Whereas, the Middle Eastern market is estimated to be growing at a faster rate due to increase in government initiatives, new health insurance policies, and digital health services during the forecast period

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LIST OF TABLES

Table 1 Gene Panel Market Industry Synopsis, 2018–2023

Table 2 Global Gene Panel Market Estimates & Forecast, 2018–2023, (USD Million)

Table 3 Global Gene Panel Market, By Region, 2018–2023, (USD Million)

Table 4 Global Gene Panel Market, By Product & Service, 2018–2023, (USD Million)

Table 5 Global Gene Panel Market, By Technique, 2018–2023, (USD Million)

Table 6 Global Gene Panel Market, By Design, 2018–2023, (USD Million)

Table 7 Global Gene Panel Market, By Application, 2018–2023, (USD Million)

Table 8 Global Gene Panel Market, By End-User, 2018–2023, (USD Million

Table 9 North America Gene Panel Market, By Product & Service, 2018–2023, (USD Million)

Table 10 North America Gene Panel Market, By Technique, 2018–2023, (USD Million)

Table 9 North America Gene Panel Market, By Design, 2018–2023, (USD Million)

Table 10 North America Gene Panel Market, By Application, 2018–2023, (USD Million)

Table 11 North America Gene Panel Market, By End-User, 2018–2023, (USD Million)

Table 12 U.S. Gene Panel Market, By Product & Service, 2018–2023, (USD Million)

Table 13 U.S. Gene Panel Market, By Technique, 2018–2023, (USD Million)

LIST OF FIGURES

Figure 1 Research Process

Figure 2 Segmentation For Global Gene Panel Market

Figure 3 Market Dynamics For Global Gene Panel Market

Figure 4 Global Gene Panel Market Share, By Product & Service 2017

Figure 5 Global Gene Panel Market Share, By Technique 2017

Figure 6 Global Gene Panel Market Share, By End-User, 2017

Figure 7 Global Gene Panel Market Share, By Region, 2017

Figure 8 North America Gene Panel Market Share, By Country, 2017

Figure 9 Europe Gene Panel Share, By Country, 2017

Figure 10 Asia Pacific Gene Panel Market Share, By Country, 2017

Figure 11 The Middle East & Africa Gene Panel Market Share, By Country, 2017

Figure 12 Global Gene Panel Market: Company Share Analysis, 2017 (%)

Figure 13 Thermo Fisher Scientific: Key Financials

Figure 14 Thermo Fisher Scientific: Segmental Revenue

…Continued!

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