Gene Panel Market Current Trends & Opportunities by 2026


Posted March 8, 2019 by hawerr

Global gene panel market is expected to expand substantially, due to rise in the prevalence of chronic diseases across the globe

 
A gene panel is a test that helps in the analysis of multiple genes at the same time for cancer-associated mutations. BRCA1 and BRCA2 are two genes responsible for the production of proteins that help in suppressing tumors. These proteins help in repairing damaged DNA and prevent the growth of tumor cells. Damaged DNA may not be repaired accurately when either of these genes is mutated or altered, resulting in a condition wherein the cells are more prone to develop a further genetic mutation that can cause cancer.

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Both women and men can be analyzed for mutations in the BRCA1 or BRCA 2 genes. The analysis also helps in the evaluation of risk for developing a different type of cancer, including cancer of the fallopian tubes, ovaries, and breasts in women and prostate in men.

The global gene panel market is expected to expand substantially, due to rise in the prevalence of chronic diseases across the globe. Moreover, an increase in the number of company initiatives across the world and benefits of gene panels are major factors that are anticipated to propel the gene panel market during the forecast period. However, stringent rules and regulations for pharmaceutical companies and safety concerns about genetic data are likely to hamper the gene panel market in the coming years. Nonetheless, ongoing research and development in the field gene sequencing is expected to present significant opportunities for the development of the market during the forecast period.

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The global gene panel market can be segmented based on product & service, technique, design, application, end-user, and geography. Based on product & service, the global gene panel market can be divided into test kits and testing services. In terms of technique, the market can be classified into amplicon-based approach and hybridization-based approach. Based on design, the global gene panel market can be categorized into predesigned gene panel and customized gene panel. In terms of application, the market can be classified into cancer risk assessment, pharmacogenetics, diagnosis of congenital diseases, and other applications. Based on end-user, the market can be segmented into research and academic institutes, hospital and diagnostic laboratories, and pharmaceutical and biotechnology companies.

In terms of geography, the gene panel market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Each region is sub-segmented into specific countries such as the U.S., Canada, the U.K., Germany, Brazil, China, India, and GCC countries. North America dominated the global gene panel market because of increase in research on cancer and inherited rare diseases and an increase in the number of NGS-based & clinical applications in the region. Other growth factors include government support for genomics research and the presence of leading NGS providers in this region. Asia Pacific is estimated to be a highly attractive region of the market during the forecast period, due to an increase in health care awareness and rise in demand for advanced medical technology.

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Key players operating in the market are Illumina, Inc., BGI, Agilent Technologies, Eurofins Scientific, Qiagen, Genewiz, Inc., Novogene Corporation, Personalis, Thermo Fisher Scientific, F. Hoffmann-La Roche AG, Integrated DNA Technologies (IDT), GATC Biotech AG (GATC Biotech), ArcherDx, and other prominent players. In order to gain a competitive advantage in the industry, major players are actively involved in various growth strategies. Collaborations, agreements, partnerships, and new product launches are some of the important strategiesadopted by market players.

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Categories Health , Medical , News
Tags Gene Panel Market
Last Updated March 8, 2019
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