Market Size of Gene Panel Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 18.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Gene Panel Market Analysis
The gene panel market studied is anticipated to grow with a CAGR of 18.3%, during the forecast period. The significant factor attributing the market's growth is the rising incidence & prevalence of chronic diseases and increasing technological advancement in diagnostics services and methods. The increasing ongoing research and development in the field of sequencing across the globe also drive the gene panel market. Chronic diseases in developing countries are responsible for more fatalities. Some of the leading chronic diseases in developed countries such as the U.S. are cardiovascular diseases, cancer, diabetes, arthritis, and others. As per the CDC (Centers for Disease Control and Prevention), six in ten adults in the U.S. have a chronic disease. As per the statistics, globally one in three adults has more than two or more chronic diseases, know as multiple chronic conditions. Gene panel diagnostics methods can help in identifying the cause of the disease such as cancer risk assessment and diagnosis of congenital diseases among others. All these key factors are expected to boost the growth of the gene panel market during the forecast period.
Gene Panel Industry Segmentation
A gene panel is a study that analyzes several genes for cancer-related mutations at once. "Gene panels provide common ground among sequencing only one gene like BRCA1 that we are sure is engaged in disease risk and sequencing each gene in the genome.
| By Products & Services | |
| Test Kits | |
| Testing Services |
| By Technique | |
| Amplicon Based Approach | |
| Hybridization Based Approach |
| By Application | |
| Cancer Risk Assessment | |
| Pharmacogenetics | |
| Diagnosis of Congential Disorders | |
| Other Application |
| By End User | |
| Hospitals | |
| Diagnostic Laboratories | |
| Pharmaceutical Companies | |
| Others |
| Geography | ||||||||
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Gene Panel Market Size Summary
The gene panel market is poised for significant growth, driven by the increasing incidence of chronic diseases and advancements in diagnostic technologies. The market is experiencing a surge due to ongoing research and development in sequencing methods worldwide. Chronic diseases, particularly in developing countries, contribute to high mortality rates, while in developed nations like the U.S., conditions such as cardiovascular diseases, cancer, and diabetes are prevalent. Gene panel diagnostics play a crucial role in identifying disease causes, including cancer risk assessment and congenital disease diagnosis, thereby propelling market expansion. The test kits segment holds a dominant share, benefiting from technological advancements and the production of specialized kits for targeted therapeutic areas. Government initiatives and heightened awareness have further accelerated the adoption of these tests globally, supported by robust research and development and the strong presence of major market players.
North America is expected to maintain its leading position in the gene panel market, supported by the high prevalence of chronic diseases, technological advancements, and the presence of key industry players. The region's well-established biotechnology sector and increased awareness of advanced technologies contribute to its dominance. The market is highly competitive, with a few major players holding significant shares. Companies like Illumina, Inc., Agilent Technologies, Inc., Thermo Fisher Scientific, QIAGEN, and Integrated DNA Technologies, Inc. are at the forefront, engaging in collaborations, acquisitions, and product launches to strengthen their global market positions.
Gene Panel Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Prevalance of Chronic Diseases
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1.2.2 Advantages of Gene Panels
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1.3 Market Restraints
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1.3.1 High Cost & Genetic Data Security Issue
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Products & Services
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2.1.1 Test Kits
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2.1.2 Testing Services
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2.2 By Technique
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2.2.1 Amplicon Based Approach
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2.2.2 Hybridization Based Approach
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2.3 By Application
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2.3.1 Cancer Risk Assessment
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2.3.2 Pharmacogenetics
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2.3.3 Diagnosis of Congential Disorders
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2.3.4 Other Application
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2.4 By End User
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2.4.1 Hospitals
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2.4.2 Diagnostic Laboratories
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2.4.3 Pharmaceutical Companies
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2.4.4 Others
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Mexico
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Italy
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2.5.2.5 Spain
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2.5.2.6 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 Japan
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2.5.3.3 India
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2.5.3.4 Australia
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2.5.3.5 South Korea
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2.5.3.6 Rest of Asia-Pacific
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2.5.4 Middle-East and Africa
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2.5.4.1 GCC
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2.5.4.2 South Africa
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2.5.4.3 Rest of Middle-East and Africa
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2.5.5 South America
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2.5.5.1 Brazil
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2.5.5.2 Argentina
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2.5.5.3 Rest of South America
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Gene Panel Market Size FAQs
What is the current Gene Panel Market size?
The Gene Panel Market is projected to register a CAGR of 18.90% during the forecast period (2024-2029)
Who are the key players in Gene Panel Market?
Illumina, Inc., Agilent Technologies, Inc., Thermo Fisher Scientific, QIAGEN and Integrated DNA Technologies, Inc. are the major companies operating in the Gene Panel Market.
