Gene Panel Market is expected to grow at a CAGR of around 21% from 2022-2028F.
According to a new report published by UnivDatos Markets Insights, the Gene Panel Market is expected to grow at a CAGR of around 21% from 2022-2028F. The analysis has been segmented into Products & Services (Test Kits and Testing Services); Technique (Amplicon-Based Approach and Hybridization-Based Approach); Application (Cancer Risk Assessment, Pharmacogenetics, Diagnosis of Congenital Disorders, and Others); End-User (Hospitals, Diagnostic Laboratories, Pharmaceutical Companies, and Others); Region/Country.
Click here to view the Report Description & TOC- https://univdatos.com/report/gene-panel-market/
The gene panel market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the gene panel market. The gene panel market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the gene panel market at the global and regional levels.
Market Overview
A gene panel is a diagnostic test that is used to pinpoint a diagnosis when a person has symptoms that may fit a wide array of conditions, or when the suspected condition can be caused by variants in many genes. In addition, it allows us to capture certain mutations in the gene that may increase the risk of a disease like cancer. Moreover, the increasing adoption of genetic testing, growing prevalence of chronic disease, technological advancements such as the next-generation sequencing system, and the need for efficient prenatal diagnosis can be considered as the reasons for the growth of this market.
The gene panel market is expected to grow at a steady rate of around 21% owing to the increasing number of chronic diseases such as various types of cancer globally. For instance, according to the American Cancer Society (ACS), prostate cancer growth is one of the most widely diagnosed tumors in the male populace in the U.S. and is supposed to observe 191,930 new cases of prostate cancer in 2020.
Request for Sample Pages- https://univdatos.com/get-a-free-sample-form-php/?product_id=24593
Some of the major players operating in the market include Illumina Inc., BGI, Agilent Technologies Inc., Eurofins Scientific SE, QIAGEN, GENEWIZ Inc., Novogene Corporation, Personalis Inc., Thermo Fisher Scientific, F. Hoffmann-La Roche AG
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry and has transformed the way healthcare is delivered. The COVID-19 pandemic has significantly affected the gene panel market during the COVID-19 pandemic led to worldwide lockdown and restrictions, leading to many diagnostic and treatment procedures had been canceled or postponed around the world.
· On the basis of products & services, the market is segmented into test kits and testing services. Among these test kits category to witness a higher CAGR during the forecast period owing to the growing elderly population and increasing prevalence of various chronic diseases globally. Furthermore, new developments and technological advancements in diagnostic products will further drive the growth rate of this market during the forecast period. For instance, in October 2019, a 15-year partnership has been announced between Illumina and Qiagen to increase the supply of NGS-based (Next Generation Sequencing) in-vitro diagnostic (IVD) kits for proper patient management. This partnership will provide universal solutions for using the Gene Reader NGS System and any sequencer for small gene panels.
· On the basis of technique, the market is segmented into the amplicon-based approach and hybridization-based approach. Among these amplicon-based approach category to witness a significant growth rate during the forecast period. In addition, the amplicon is a highly targeted approach that enables researchers to analyze different variations and ultra-deep sequencing of amplicons allows efficient variant identification and characterization. Moreover, the growing mutation in the gene causes diseases such as down syndrome, cystic fibrosis, colon cancer, breast cancer, etc. These factors are Proliferating the market growth during the forecast period.
· On the basis of application, the market has been classified into cancer risk assessment, pharmacogenetics, diagnosis of congenital disorders, and others. The cancer risk assessment category is expected to witness significant growth during the forecast period. This is mainly due to the rising cancer cases worldwide because of the increasing geriatric population, family history of cancer, and using tobacco. In addition, new guidelines issued by the American Society of Breast Surgeons have now recommended genetic testing for all breast cancer patients to discover hereditary risks in addition to standard imaging exams.
Request For Sample- https://univdatos.com/get-a-free-sample-form-php/?product_id=24593
Gene Panel Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
For a better understanding of the market adoption of the gene panel market industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising number of cancer patients, availability of well-settled healthcare infrastructure & skilled healthcare professionals, strong market position of major market players, and rising research and development activities in this region. Moreover, the introduction of advanced gene panels by key market players is driving the growth rate during the forecast period in the region. For instance, GENEWIZ (U.S.) is investigating a huge amount in the research and development of the gene panel market to sustain its market position in the global market and to expand its customer base for more sales revenue.
The major players targeting the market include
· Illumina Inc.
· BGI
· Agilent Technologies Inc.
· Eurofins Scientific SE
· QIAGEN
· GENEWIZ Inc.
· Novogene Corporation
· Personalis Inc.
· Thermo Fisher Scientific
· F. Hoffmann-La Roche AG
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the gene panel market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the gene panel market?
• Which factors are influencing the gene panel market over the forecast period?
• What are the global challenges, threats, and risks in the gene panel market?
• Which factors are propelling and restraining the gene panel market?
• What are the demanding global regions of the gene panel market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
