About Gene Panel
A gene panel is a test that helps analyze multiple genes for cancer-associated mutations at the same time. BRCA1 and BRCA2 are two genes responsible for producing proteins that help suppress tumors. These proteins help repair damaged DNA and prevent tumor cells from growing. Damaged DNA may not be able to be accurately repaired if any of these genes are mutated or altered, resulting in a condition where cells are more susceptible to developing another genetic mutation that can cause cancer. Both women and men can be analyzed for mutations in the BRCA1 or BRCA2 genes. The analysis also helps assess the risk of developing another type of cancer, including cancer of the fallopian tubes, ovaries, and breasts in women and prostate cancer in men. The global market for gene panels is expected to grow significantly due to the increasing prevalence of chronic diseases around the world. Additionally, an increase in the number of business initiatives around the world and the benefits of Gen Panels are important factors that are expected to propel the Gen Panels market during the forecast period. However, strict rules and regulations for pharmaceutical companies and safety concerns related to genetic data are likely to hamper the market for gene panels in the years to come. Nonetheless, the ongoing research and development in the field of gene sequencing are expected to offer significant opportunities for the development of the market during the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Gene Panel market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Illumina, Inc. (United States), BGI Group (China), Agilent Technologies (United States), Eurofins Scientific (Luxembourg), Qiagen (Germany), Genewiz, Inc. (United States), Novogene Corporation (China), Personalis (United States), Thermo Fisher Scientific (United States), F. Hoffmann-La Roche AG (Switzerland), Integrated DNA Technologies (IDT) (United States) and ArcherDx, Inc. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Gene Panel market by Type (Test Kits and Testing Services), Application (Cancer Risk Assessment, Diagnosis of Congenital Diseases, Pharmacogenetics and Others) and Region.
On the basis of geography, the market of Gene Panel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Design, the sub-segment i.e. Predesign will boost the Gene Panel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technique, the sub-segment i.e. Amplicon will boost the Gene Panel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospital will boost the Gene Panel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Increasing Number of Clinical and Preclinical Research Studies, Growing Research on Cancer and Inherited Rare Diseases and Increasing Number of NGS-Based & Clinical Applications
Market Growth Drivers:
Rising Prevalence of Chronic Diseases, Growing Company Initiatives, Rising Adoption of Gene Panel Owing To the Benefits They Offer and The Growing Demand for Gene Panel in Research As Well As Diagnostics to Understand the Genetic Variability of Chronic Disorders
Challenges:
Accuracy & Standardization Concerns in Diagnostic Testing
Restraints:
High Cost & Genetic Data Security Issue and Stringent Rules and Regulations for the Pharmaceutical Companies
Opportunities:
Growing Awareness about the Advantages of Gene Panels, The Rising Support for R&D and The Growing Emphasis on Governing and Raising Awareness about These Testing By Governments
Market Leaders and their expansionary development strategies
In February 2024, Myriad Genetics, Inc., a leader in genetic testing and precision medicine,has acquired from Intermountain Health of select assets from its Intermountain Precision Genomics (IPG) laboratory business, including the Precise Tumor Test, the Precise Liquid Test, and IPG’s CLIA-certified laboratory.The acquisition enables Myriad to more effectively scale and grow its tumor profiling offerings to complement its oncology portfolio of hereditary cancer and companion diagnostic testing options.
In May 2023 Vizgen a leader in spatial genomics has Launched Predesigned MERFISH Gene Panels.The PanCancer Pathways Panel features a list of genes targeting canonical signaling pathways of cancer and is constructed using recognized oncology databases, providing a key tool for researchers to study tumor behavior at cellular and subcellular levels across multiple different types of cancers.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Manufacturers of Gene Panel, Suppliers and Distributors of Gene Panel, Venture Capitalists and Private Equity Firms and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.