What is the current market size and future outlook for the gene panel market?
The gene panel market size has grown rapidly in recent years. It will grow from $2.14 billion in 2024 to $2.48 billion in 2025 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to the rising prevalence of hereditary disorders, growing necessity for genetic screening, increasing research and development activities, rising prevalence of congenital diseases, and increasing demand for advanced treatment options.
The gene panel market size is expected to see rapid growth in the next few years. It will grow to $4.37 billion in 2029 at a compound annual growth rate (CAGR) of 15.3%. The growth in the forecast period can be attributed to an increasing number of chronic diseases, increasing cancer cases, increasing awareness of genetic testing, and increasing government initiatives and healthcare spending. Major trends in the forecast period include the advancement of gene panel technology, strategic collaboration, personalized treatment, the integration of artificial intelligence, and advanced bioinformatics tools.
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How has the gene panel market evolved, and what factors have shaped its growth?
The increasing prevalence of cancer is expected to propel the growth of the gene panel market going forward. Cancer is a group of diseases characterized by the uncontrolled growth and spread of abnormal cells, which can invade and damage surrounding tissues and organs. Cancer cases are rising due to factors such as aging populations, lifestyle changes, environmental exposures, and improved detection and diagnostic technologies. Gene panels help in cancer by enabling comprehensive genetic testing to identify mutations and alterations in specific genes, which can guide personalized treatment strategies and improve outcomes for cancer patients. For instance, in February 2024, according to the World Health Organization, a Switzerland-based intergovernmental organization, an estimated 9.7 million people died from cancer in 2022, and there were 20 million new cases. Lung cancer accounted for 12.4% of all new cases, with 2.5 million new cases, making it the most common cancer in the world. Therefore, the increasing prevalence of cancer is driving the growth of the gene panel market.
What are the major segments of the gene panel market?
The gene panel market covered in this report is segmented –
1) By Product And Services: Test Kits, Testing Services
2) By Technology: Amplicon-Based, Hybridization-Based, Other Technologies
3) By Design: Predesigned Gene Panel, Customized Gene Panel
4) By Application: Cancer Risk Assessment, Diagnosis Of Congenital Diseases, Pharmacogenetics, Other Applications
5) By End-User: Research Institutes, Hospital, Diagnosis Centers, Pharmaceutical Companies, Other End-Users
Subsegments:
1) By Test Kits: Predesigned Gene Panels, Customized Gene Panels
2) By Testing Services: Cancer Risk Assessment Panels, Pharmacogenetic Testing Panels, Neurological Disorder Panels, Cardiovascular Disease Panels, Rare Disease Panels
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Which companies dominate the gene panel market?
Major companies operating in the gene panel market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Quest Diagnostics Inc., Intermountain Healthcare, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., Qiagen Inc., OPKO Health Inc., Myriad Genetics Inc., Guardant Health Inc., Invitae Corp., Integrated DNA Technologies Inc., Bio-Rad Laboratories Inc., Novogene Corporation, Fulgent Genetics Inc., MedGenome Inc., OriGene Technologies Inc., Centogene AG, Blueprint Genetics Inc., BIONEER Corporation, BGI Group Ltd., Vizgen Inc., Primbio Research Institute LLC
How will evolving trends contribute to the growth of the gene panel market?
Major companies operating in the gene panel market are focusing on developing innovative technologies, such as oncology panels, to enhance the accuracy, efficiency, and comprehensiveness of cancer diagnostics and personalized treatment strategies. Oncology panels are specialized gene panels that analyze multiple genes associated with cancer to identify genetic mutations and alterations, aiding in the diagnosis, prognosis, and treatment of cancer. For instance, in May 2023, Vizgen Inc., a US-based biotechnology company, launched the MERFISH PanCancer Pathways Panel, offering a customizable option for scientists entering the field of spatial genomics. These predesigned panels are tailored for various research applications, including cancer studies, and are optimized for enhanced error robustness, providing reliable and reproducible results. By integrating spatial information with gene expression data, the panels offer deeper insights into tumor microenvironments and cellular interactions, facilitating more targeted and personalized cancer research and therapeutic development. This launch represents a significant advancement in spatial biology, enabling researchers to explore complex biological systems with a level of detail previously unattainable.
What are the key regional dynamics of the gene panel market, and which region leads in market share?
North America was the largest region in the gene panel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gene panel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Gene Panel Market Report 2025 Offer?
The gene panel market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Gene panels refer to a collection of specific genes selected for testing in a single assay to assess genetic variations related to particular diseases or conditions. They are used for diagnosing genetic disorders, identifying inherited diseases, and providing personalized treatment plans by analyzing multiple genes simultaneously, often in the context of cancer, rare diseases, or other genetic conditions.
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