The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Gene Panel Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Gene Panel Industry (2024-2030):
According to the latest report, The 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. The report demonstrates the prominent factors propelling the exponential growth of the Gene Panel industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2019-22
- Base Year: 2023
- Forecast Period: 2024-30
- CAGR (2024-30): 14.2%
- Market Value in 2023: USD 3.1 Billion
What are the major Driver the Gene Panel industry?
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.
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Gene Panel Market Segmentation
The Gene Panel Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- 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
As per the regional aspect, the Gene Panel Market is expected to be dominated by North America by capturing the potential market share.
Explore further details about this research report - https://www.marknteladvisors.com/research-library/gene-panel-market.html
Top Companies in the Gene Panel Market
Illumina, Inc., Thermo Fisher Scientific Inc., Agilent Technologies, Qiagen Inc., Eurofins Scientific Se, BGI, F. Hoffmann-La Roche AG, Integrated DNA Technologies Inc., Genewiz, Inc., Novogene Corporation, Personalis, Inc., Gatc Biotech AG, Archerdx, Genedx, Centogene AG, and others
Global Neuro Navigation Systems Recent Development:
2024: Thermo Fisher on the Rise of Next-Generation Sequencing CDx, i.e., NGS-based in vitro diagnosing focusing on traditional Sanger sequencing and the polymerase chain reaction (PCR) methods.
2023: Illumina launches advanced liquid biopsy assay to enable comprehensive genomic profiling of solid tumors.
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Empowering Data-Backed Judgement: Our comprehensive Market research encompasses a wide spectrum of activities, including precise market sizing, detailed segment analysis, accurate demand forecasting, competitor identification, and meticulous pricing trend monitoring.
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