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Gene Panel Market to Reach USD 4347.32 Mn by 2025, Rise in Demand of Genetic Testing are Driving Factors for Global Gene Panel Industry

April 21st, 2020 Market Research Future Releases

Gene Panel Market Analysis

A gene panel is a type of test that helps to analyze multiple genes at the same time for cancer-associated mutations.This test is capable of analyzing many numbers of genes that can provide cancer information and provide a reliable diagnosis to help avoid or stop spreading cancer.

According to Market Research Future (MRFR), The Global Gene Panel Market is expected to post a CAGR of 12.16 per cent to cross USD 4,347.32 million by 2018 to 2025 (forecast period). The report is a great combination of qualitative and quantitative information that highlights key business trends, challenges faced by industry and competition as well as trend in the Gene Panel Market.

Avail Free Sample Copy at https://www.marketresearchfuture.com/sample_request/6100

Gene Panel Market Dynamics

Due to the rise in the prevalence of chronic diseases worldwide, the global gene panel market is projected to grow significantly. An increase in the number of company initiatives worldwide and the advantages of gene panels are major factors expected to propel the gene panel market during the forecast period. But strict rules and regulations for pharmaceutical firms and health issues about genetic data are likely to hamper the gene panel market. However, ongoing research and development in the field of gene sequencing are expected during the forecast period to pose substantial opportunities for market growth.

Gene Panel Market Segmentation

The Global Gene Panel Market has been segmented by product & service, technology, design, application, and end user.The market was bifurcated into test kits and test services, based on product & service. Based on the technology, the global market for gene panels has been bifurcated into an amplicon-based approach and a hybridization-based approach. Based on the design, the global market for gene panels was divided into pre-designed gene panels and customized gene panels.The global gene panel market was listed, based on application, as cancer risk assessment, congenital condition diagnosis, and pharmacogenetics. The end-user-based gene panel market was divided into hospitals, diagnostic laboratories, and others.

Gene Panel Market Regional Analysis

The region-based global gene panel market was divided into the United States of America, Europe, Asia Pacific, and the Middle East & Africa.

The United States of America is likely to lead the global demand for gene panels. This can be attributed to the region’s growing cancer prevalence. In 2017 nearly 1,688,780 new cases were reported in the US. It is estimated that the European gene panel market will be second-largest during the forecast period. The incidence rates for all cancers are expected to increase to 742 cases per 100,000 people by 2 percent in the UK between 2014 and 2035.

This growing cancer case, coupled with improved gene panel performance, is expected to drive market growth. Due to the growing healthcare expenditure and the existence of a wide patient pool, the Asia Pacific market is expected to register a significant growth rate during the forecast period.

The Middle East & Africa market is increasing healthcare spending, increasing investments by major market players and growing patient pool in this area. For example, according to the International Trade Administration, in 2017, expenditure in the UAE was USD 17 billion, and by 2021 is projected to hit USD 21.3 billion.

Gene Panel Market Key Players

The key players in the Global Gene Panel Market are Agilent Technologies Inc. (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd (Switzerland), Qiagen (Germany), Illumina Inc. (US), BGI Genomics (China), Integrated DNA Technologies, Inc. (the US), GENEWIZ (US), Novogene Corporation (US), Personalis, Inc. (US), GATC Biotech AG (Germany), ArcherDX, Inc. (the US), GeneDx (Switzerland), and CENTOGENE AG (Germany).

Gene Panel Industry News 

In October 2019, Qiagen and Illumina (US) announced a 15-year agreement to expand the development and use of NGS-based in-vitro diagnostic (IVD) kits for patient management and companion diagnostics. This partnership has become a central pillar of Qiagen’s NGS strategy, which continues to include universal solutions for use with any sequencer, as well as the GeneReader NGS System for mainly use with smaller, targeted gene panels. In June 2018, Thermo Fisher Scientific released the next-generation library preparation innovation Ion AmpliSeq HD technology, which allows clinical researchers to build custom gene panels and interrogate highly heterogeneous tumor samples.

Browse Complete Report with TOC at https://www.marketresearchfuture.com/reports/gene-panel-market-6100

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:

Akash Anand

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com

NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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