The global gene panel market is expected to reach an approximate CAGR of 19% during the forecast period.
The increasing prevalence of chronic diseases such as cancer, genetic diseases, and rare diseases, increase in adoption of genetic testing, rising company initiatives, technological advancements, need for efficient prenatal diagnosis, and increasing health awareness are estimated to drive the market during the forecast period. However, factors such as expensive tests, inaccuracy in results, and security concerns of the genes are estimated to restrain the market growth during the forecast period.
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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.
Key players
Some of the key players for the global gene panel market are Thermo Fisher Scientific (US), F. Hoffmann-La Roche AG (Switzerland), Illumina, Inc., BGI (China), Agilent Technologies (US), Integrated DNA Technologies (IDT) (US), Eurofins Scientific (US), QIAGEN (Germany), GENEWIZ, Novogene Corporation (China), Personalis (US), GATC Biotech AG (GATC Biotech) (Germany), ArcherDx (US), GeneDx., CENTOGENE AG, and others.
Regional Market Summary
The Americas dominates the global market for gene panel. The increase in the patient pool for chronic diseases, government initiatives for the development of cancer treatment, and presence of strong market players such as Thermo Fisher Scientific drive the market growth in this region. Europe (the U.K., Belgium, France, and the Netherlands) is second in the market owing to the increasing research and development activities for cancer and congenital diseases. Also, the high occurrence rate of cancer in Europe influences the market growth in Europe. According to WHO, there are 3.7 million cases of cancer in Europe every year. Furthermore, Germany is predicted to dominate the European market as there were 2, 24,089 number of deaths due to cancer in 2014. Also, technological advancements coupled with an early diagnosis of cancer is likely to drive market growth for gene panel in Germany. Asia Pacific is expected to observe growth for the global gene panel market owing to the growing prevalence of cancer and increasing health expenditure. The Middle East and Africa with the presence of low-income countries, low healthcare expenditures, and stringent government regulations accounted for the least market share.
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