Emphasis on 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); and Region/Country
The global gene panel market is expected to grow at a significant rate of around 21% during the forecast period. The gene panel is a laboratory test in which many genes are studied in a sample of tissue. Multiple-gene panel tests help find mutations in certain genes that may increase a person’s risk of a disease such as cancer. Gene panels provide sequencing for genes like BRCA1 & BRCA2 which are determined to be involved in disease risk, genome sequencing in the genome. In addition, the rising cases of cancer among the population, or the high prevalence of chronic diseases are the major factor for the growth of this market during the forecast period. For instance, according to the data provided by the International Agency for Research on Cancer (IRAC) in 2018, it is estimated that there will be more than 27.5 million new cancer cases by 2040, which would be majorly due to factors such as unhealthy lifestyle, smoking, reduced physical activities, and genetic disorders.
Illumina Inc., BGI, Agilent Technologies Inc., Eurofins Scientific SE, QIAGEN, GENEWIZ Inc., Novogene Corporation, Personalis Inc., Thermo Fisher Scientific, F. Hoffmann-La Roche AG. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst products & services, test kits category to witness robust CAGR during the forecast period”
Based on type, the market is segmented into test kits and testing services. Among these, the test kits category to witness a higher CAGR during the forecast period. This is mainly due to the growing chronic diseases, cardiovascular diseases, down syndrome, Huntington’s disease, cystic fibrosis, and sickle cell disease worldwide. In addition, growing research and development activities as well as the high demand for genetic diagnostic tests in the laboratories are also expected to drive the demand for the gene panel market over the forecast period. For instance, according to ILAC MRA (International Laboratory Accreditation Cooperation) and Signatories, in 2021, almost 85,000 laboratories, almost 13,000 inspection bodies, over 600 proficiency testing providers, and 250 reference material producers were accredited globally.
“Amongst technique, the amplicon-based approach to hold a significant share in the market in 2020”
On the basis of technique, the market is categorized into the amplicon-based approach and hybridization-based approach. Among these, the amplicon-based approach category holds a significant share during the forecast period. The amplicon-based approach method uses oligonucleotide probes designed to target and capture regions of interest, followed by next-generation sequencing (NGS) and it is also useful for the discovery of rare somatic mutations in complex samples. Additionally, the amplicon-based approach is used to detect Alzheimer’s disease, multiple sclerosis, Huntington’s disease, and Parkinson’s disease. For instance, approximately 60,000 Americans are diagnosed with Parkinson’s disease each year and more than 10 million people worldwide are living with Parkinson’s disease.
“Amongst application, the cancer risk assessment to hold a significant share in the market in 2020”
On the basis of application, the market is categorized into cancer risk assessment, pharmacogenetics, diagnosis of congenital disorders, and others. Among these, the cancer risk assessment category holds a significant share during the forecast period. This is mainly due to the rising cardiovascular diseases, cystic fibrosis, Huntington’s disease, and various cancers like lung cancer, breast cancer, prostate cancer, etc. These factors are propelling the growth of this market during the forecast period. For instance, in 2020, there were 2.3 million women diagnosed with breast cancer and 685 000 deaths globally. As of the end of 2020, there were 7.8 million women alive who were diagnosed with breast cancer in the past 5 years, making it the world’s most prevalent cancer.
“Amongst end-user, the hospitals to hold a significant share in the market in 2020”
On the basis of end-user, the market is categorized into hospitals, diagnostic laboratories, pharmaceutical companies, and others. Among these, the hospitals category holds a considerable market share during the forecast period. This category especially driven by the higher number of patients with severe conditions patients has been pivotal in the higher demand for gene panel testing globally. In addition, the growth of this segment is due to better treatment, availability of equipment and skilled professionals in the hospitals are the main reasons for the growth of this segment. In addition, the rising prevalence of cancer across the world, especially in developed countries. For instance, according to the statistics by the World Health Organization (WHO), 2.26 new cases of breast cancer were recorded in 2020.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global gene panel market. 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. The large hospital administration of the patients, rising demand for diagnostic devices due to the surge of cancer & chronic disease, and the presence of medical device manufacturers in the region. For instance, in September 2020, Bionano Genomics, an American genomic diagnostics manufacturer, announced the launch of EpiPanelDx PLUS, which is a gene panel test for the diagnosis of epilepsy. Moreover, it is expected that the market will continue to grow at a steady rate during the forecast period owing to the high-income levels of the consumers in the region coupled with rising awareness about the importance of spending time in outdoor recreational activities for a balanced and healthy life.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Gene Panel Market
6. Gene Panel Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Products & Services
8. Market Insights By Technique
9. Market Insights By Application
10. Market Insights By End-user
11. Market Insights By Region
12. Gene Panel Market Dynamics
13. Gene Panel Market Opportunities
14. Gene Panel Market Trends
15. Demand And Supply-side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the Gene Panel Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global gene panel market were the three major steps undertaken to create and analyze the adoption of gene panels in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Gene Panel Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the gene panel market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the gene panel market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as products & services, technique, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the gene panel market. Further, we conducted factor analysis using dependent and independent variables such as various products & services, technique, application, and end-user of the gene panel. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the gene panel market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global gene panel market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global gene panel market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of products & services, technique, application, and end-user in the global gene panel market.
The main objective of the Global Gene Panel Market Study
The current & future market trends of the global gene panel market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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