Gene Panel Market overview:
Market Research future (MRFR) has recently published a detailed report asserting that the global gene panel market is anticipated to expand remarkably at a robust CAGR of 19% during the forecast period of 2018-2025.
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Market Drivers and Restraints:
With the rise in prevalence of chronic diseases such as cancer and increasing disorders caused by genetic mutation is inducing high demand for gene panel testing in order to diagnose such mutations, resulting in the significant growth of the global gene panel market. The emergence of efficient prenatal diagnosis and development of technologically advanced next-generation sequencing (NGS) system are some of the important factors that are fuelling the growth of the global gene panel market.
The adoption gene panels have increased in last few years owing to their multiple benefits in the diagnosis of diseases related to genetic disorders, which in turn is impacting positively on the growth of the global gene panel market.
However, concerns regarding the security of genetic data, accuracy and standardization issues of the diagnostic tests, low penetration of advanced technology and lack of awareness among the population of underdeveloped regions are likely to create hindrance in the growth of the global gene panel market during the forecast period.
Gene Panel Market Segmentation:
The global gene panel market has been segmented on the basis of product and services, technique, design, application and end-users. Based on product and services, the gene panel market is segmented into test kits and testing services. Based on technique, the gene panel market is segmented into amplicon-based approach and hybridization-based approach.
Based on design, the gene panel market is segmented into predesigned gene panels and customized gene panels. Based on application, the gene panel market is segmented into cancer risk assessment, pharmacogenetics, diagnosis of congenital disorders and others. The cancer risk assessment segment is sub-segmented into syndrome-specific gene panels, high-penetrance gene panels and high and moderate-penetrance gene panels.
Based on end-users, the gene panel market is segmented into hospitals, diagnostic laboratories, research and academic institutes, pharmaceutical and biotechnology companies and others.
Gene Panel Market Regional Analysis:
The global Gene Panel Market is geographically segmented into four major regions such as Americas, Europe, Asia Pacific and the Middle East and Africa. The gene panel market in the Americas is projecting significant growth owing to the rapid technological development and extensive research being carried out in the field of genetics in this region.
The increasing prevalence of diseases caused by genetic disorders is fuelling the growth of the gene panel market in the Europe region. The rapid development of healthcare sector and increasing healthcare expenditure are leading to the significant growth of the gene panel market in the Asia Pacific region. However, low penetration of advanced technology and poor primary healthcare services are hampering the growth of the gene panel market in the Middle East and Africa region.
Industry Updates:
In August 2018, Australia’s Genepath has announced a delay in the development of diagnostic gene panels for newborn screening.
Gene Panel Market Studied by Key Players:
The leading players of the global gene panel market that are profiled in the report published by MRFR are Thermo Fisher Scientific (the U.S.), F. Hoffmann-La Roche AG (Switzerland), Illumina, Inc., BGI (China), Agilent Technologies (the U.S.), Integrated DNA Technologies (IDT) (U.S.), Eurofins Scientific (the U.S.), QIAGEN (Germany), GENEWIZ, Novogene Corporation (China), Personalis (the U.S.), GATC Biotech AG (Germany), ArcherDx (the U.S.), GeneDx., CENTOGENE AG, and others.
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