MarkNtel Advisors analyses the growth rate of the Gene Panel market in the forecast period from 2024 to 2030. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Gene Panel market, helping them make informed decisions.
Market Outlook – 2024-2030:
The Global Gene Panel Market size was valued at around USD 3.1 billion in 2023 & is estimated to grow at a CAGR of around 14.2% during the forecast period, i.e., 2024-30. This market is expected to see significant revenue growth driven by an increase in cases of cancer and genetic diseases. Gene panels that test for various gene variations at once for a specific disease are becoming essential for precise medicines. The increase in the number of cancer cases which show 20 million cases diagnosed globally in 2022, depicts the emerging need for Gene Panels for targeted and personalized treatment.
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Key Company Profiles
This report explores recent significant developments in the Gene Panel Market, focusing on the leading companies and their innovative profiles. The major players in the Gene Panel Market, featured in this report, include:
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- Agilent Technologies
- Qiagen Inc.
- Eurofins Scientific Se
- BGI
- Hoffmann-La Roche AG
- Integrated DNA Technologies Inc.
- Genewiz, Inc.
- Novogene Corporation
- Personalis, Inc.
- Gatc Biotech AG
- Archerdx
- Genedx
- Centogene AG
- Others
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Market Segmentation & Coverage
This research report by MarkNtel Advisors categorizes the Gene Panel Market to forecast revenues and analyse trends across each of the following sub-markets:
By Product & Service
- Test Kits- Market Size & Forecast 2019-2030, USD Million
- Testing Services- Market Size & Forecast 2019-2030, USD Million
By Technique
- Amplicon Based Approach- Market Size & Forecast 2019-2030, USD Million
- Hybridization Based Approach- Market Size & Forecast 2019-2030, USD Million
By Design
- Predesigned Gene Panel- Market Size & Forecast 2019-2030, USD Million
- Customized Gene Panel- Market Size & Forecast 2019-2030, USD Million
By Application
- Cancer Risk Assessment- Market Size & Forecast 2019-2030, USD Million
- Diagnosis of Congenital Diseases- Market Size & Forecast 2019-2030, USD Million
- Pharmacogenetics- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
By End User
- Academic & Research Institutes- Market Size & Forecast 2019-2030, USD Million
- Hospital & Diagnostic Laboratories- Market Size & Forecast 2019-2030, USD Million
- Pharmaceutical & Biotechnology Companies- Market Size & Forecast 2019-2030, USD Million
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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What are the primary factors driving the growth of the Gene Panel market?
Increasing incidences of Cancer & Genetic Disorders – The increase in the number of cancer and other genetic disorders are the key drivers of the Gene Panel Market. For instance,
- As per Global Cancer Statistics 2024, an estimated 20 million cancer cases were newly diagnosed in 2022 and 9.7 million people died from the disease worldwide. By 2050, the number of cancer cases is predicted to reach around 35 million.
An increase in such cases drives the demand for genetic tests that can identify specific mutations and guide some targeted treatment or therapy. Additionally, an increase in awareness against genetic disorders fuels the need for gene panels for early diagnosis and management if found some symptoms. Multi-genes panels focus on a wide range of genetic conditions simultaneously hence finding the disorder in no time. Moreover, as gene panels diagnose only a specific set of genes instead of all genes inside the body, they save time as well as cost hence increasing their demand and ultimately augmenting the revenue growth of the gene panel industry globally.
Key Questions Addressed:
- Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
- Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
- Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
- Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
- Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?
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