Segmented by component (test kits v/s test services), by technique (amplicon-based approach v/s hybridization-based approach), by design (pre-designed gene panel v/s custom gene panel), by application ( cancer risk assessment, congenital disease diagnosis, pharmacogenetics, other), by end user (academic and research institutions, hospital and diagnostic laboratories, pharmaceutical and biotechnology companies), by region and by competition.
New York, July 10, 2023 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of Report “Gene Panel Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F” – https://www.reportlinker .com/p06474209/?utm_source=GNW
The global genetic panel market is expected to witness impressive growth over the forecast period. This can be attributed to the increasing prevalence of genetic disorders such as Down syndrome, sickle cell disease, Sachs disease and others.
Due to the growing health awareness among the population and the growing demand for early diagnosis, many couples are opting for genetic testing before baby planning or during pregnancy, further increasing the market over the forecast period. Increasing application of gene panels due to the low cost of the technique and rapid and accurate testing should stimulate market growth.
Furthermore, improved healthcare infrastructure coupled with increasing R&D investments related to gene panels are expected to create lucrative opportunities for market growth in the coming years.
Growing incidence of chronic diseases
The increasing incidence of chronic diseases such as cancer, congenital diseases, heart attack and arthritis is expected to grow in the gene panel market during the forecast period. Increased ailments due to genetic mutation require genetic panel testing.
It is a diagnostic technique that simultaneously analyzes many genes for changes associated with cancer. The high demand for gene panels from major key players to develop and launch cancer therapy is expected to boost the gene panels market over the forecast period.
According to the Global Cancer Observatory, an estimated 19,292,789 new cases of cancer have been reported worldwide. Of these, 9,227,484 new cancer cases were reported in women, while the number of new cancer cases reported in men was approximately 10,065,305.
The increasing prevalence of cancer will increase the demand for gene panels. Given the high cost, genetic testing is usually only done on patients who are at high risk of developing specific types of cancer due to their inherited disease. This can include lifestyle factors such as smoking, an unhealthy lifestyle, reduced physical activity and alcohol consumption. According to the World Health Organization (WHO), approximately 295,000 newborns die within 28 days of birth each year worldwide due to congenital anomalies.
Technological advances
The growing demand for advanced medical tests, coupled with personalized drugs in clinical diagnosis, will create lucrative opportunities for market growth over the forecast period. Currently, genetic disorders are common in the geriatric population which largely supports the growth of the genetic panel market.
Many global companies are focusing on the development of new and advanced gene panels, which are expected to further stimulate market growth in the coming years. The increase of initiatives and investments by many private and government organizations for the development of new technologies is an important factor stimulating the growth of the market.
Birth defects affect 1 in every 33 babies born in the United States each year, which translates into approximately 120,000 babies.
Market segmentation
The global Gene Panel market can be segmented by component, technique, design, application, end user, and by region. Based on the components, the market can be divided into test kits and test services.
On the basis of the technique, the market can be split into Amplicon-based approach and Hybridization-based approach. Based on the design, the market can be split into Pre-designed Gene Panels and Customized Gene Panels.
Based on the application, the market can be segmented into cancer risk assessment, congenital disease diagnosis, pharmacogenetics, and others. Based on the end user, the market can be differentiated into academic and research institutes, hospital and diagnostic laboratories, and pharmaceutical and biotechnology companies.
Regionally, North America dominated the market among Asia Pacific, Europe, Middle East and Africa, and South America. Among several countries, the United States has dominated the global gene panel market due to the growing demand for gene panel techniques due to the increase in cancer cases worldwide. A little more than 1.9 million new cases of cancer are projected to be diagnosed in the United States in 2022, according to the American Cancer Society’s (ACS) 2022 Cancer Facts & Figures report.
Market leaders
Illumina, Inc., Agilent Technologies, Inc., Thermo Fischer Scientific, Inc., QIAGEN NV, Eurofins Scientific SE, Foundation Medicine Inc., Guardant Health, Inc., Myriad Genetic Laboratories Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG are some of the major players operating in the global Gene Panel market.
Scope of the report:
In this report, the global Gene Panel market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Gene Panel Market, by Component:
or Test Kits
o Testing Services
Gene Panel Market, By Technique:
o Amplicon-based approach
o Approach based on hybridization
Gene Panel Market, By Design:
o Default genetic panel
o Personalized genetic panel
Gene Panel Market, by Applications:
o Cancer risk assessment
o Diagnosis of congenital diseases
or Pharmacogenetics
or Others
Gene Panel Market, by End User:
o Academic and research institutes
o Hospitals and diagnostic laboratories
o Pharmaceutical and biotechnology companies
Gene Panel Market, by Region:
or North America
United States
Canada
Mexico
or Europe
France
Germany
United Kingdom
Italy
Spain
or Asia Pacific
China
India
Japan
South Korea
Australia
or South America
Brazil
Argentina
Colombia
o Middle East and Africa
South Africa
Saudi Arabia
United Arab Emirates
Competitive landscape
Company Profiles: Detailed analysis of the key companies present in the global Gene Panel market.
Customizations available:
With the market data provided, we offer customizations based on a company’s specific needs. The following customization options are available for the report:
Company information
Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06474209/?utm_source=GNW
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