The latest report by IMARC Group, titled “Gene Panel Market Report by Products and Services (Test Kits, Testing Services), Technique (Amplicon-based Approach, Hybridization-based Approach), Design (Predesigned Gene Panel, Customized Gene Panel), Application (Cancer Risk Assessment, Diagnosis of Congenital Diseases, Pharmacogenetics, and Others), End User (Academic and Research Institutes, Hospital and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies), and Region 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on the global gene panel market trends. The global market size reached US$ 1,005.7 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 3,447.6 Million by 2032, exhibiting a growth rate (CAGR) of 14.67% during 2024-2032.

Factors Affecting the Growth of Gene Panel Industry:

• Advances in Genomic Research and Personalized Medicine

The gene panel market has experienced significant growth due to remarkable advancements in genomic research and the emergence of personalized medicine. Genomic research has evolved rapidly in recent years, enabling scientists to understand the genetic basis of various diseases and conditions. This deeper understanding has paved the way for the development of gene panels that can analyze specific sets of genes associated with particular health issues. Personalized medicine, which tailors medical treatment to the genetic makeup of an individual, has gained prominence. Gene panels play a pivotal role in this field by allowing healthcare providers to identify genetic variations that may influence the response of an individual to specific drugs or therapies. Patients can receive treatments that are more effective and have fewer adverse effects, leading to improved healthcare outcomes.

• Growing Demand for Non-Invasive Prenatal Testing (NIPT):

Non-invasive prenatal testing has witnessed a rise in demand, contributing significantly to the growth of the gene panel market. NIPT offers pregnant women a safer and less invasive alternative to traditional methods for detecting chromosomal abnormalities in fetuses. This is achieved by analyzing cell-free fetal DNA circulating in the bloodstream of the mother. Gene panels designed for NIPT can screen for a range of genetic disorders, including Down syndrome and Edwards syndrome, with a high degree of accuracy. Expectant parents are increasingly opting for NIPT as it poses no risk to the fetus and provides early and reliable information about potential birth defects. Consequently, healthcare providers and diagnostic laboratories are adopting gene panel-based NIPT, fueling market growth.

• Expanding Applications in Oncology:

The gene panel market has expanded significantly within the field of oncology. As our understanding of the genetic underpinnings of cancer has deepened, gene panels have become instrumental in cancer diagnosis, prognosis, and treatment planning. These panels can identify specific mutations or genetic alterations associated with various cancer types, allowing for more precise cancer classification and personalized treatment strategies. Oncologists can determine the most effective targeted therapies, immunotherapies, or chemotherapy regimens based on the genetic profile of the tumor of a patient. Moreover, gene panels are employed in monitoring disease progression, assessing minimal residual disease, and detecting the emergence of drug resistance mutations. This versatility in oncology applications has driven the adoption of gene panel testing in cancer care, making it an integral part of modern oncological practices.

Competitive Landscape with Key Player:

• Agilent Technologies Inc.
• BGI Genomics Co. Ltd. (BGI Group)
• Eurofins Scientific SE
• F. Hoffmann-La Roche AG
• Genewiz LLC (Azenta Inc.)
• Illumina Inc.
• Integrated DNA Technologies Inc. (Danaher Corporation)
• Novogene Co. Ltd.
• Qiagen N.V.
• Thermo Fisher Scientific Inc.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/gene-panel-market/requestsample

Report Segmentation:

The report has segmented the market into the following categories:

Products and Services Insights:

• Test Kits
• Testing Services

Test kits dominate the market due to their widespread use, cost-effectiveness, and convenience, making them the preferred choice for various diagnostic and research applications.

Technique Insights:

• Amplicon-based Approach
• Hybridization-based Approach

Amplicon-based approach holds maximum number of shares due to its cost-effectiveness and efficiency in targeted DNA amplification, making it particularly attractive for applications in clinical diagnostics, research, and pharmaceutical industries.

Design Insights:

• Predesigned Gene Panel
• Customized Gene Panel

Predesigned gene panel represents the largest segment due to their convenience, cost-effectiveness, and the fact that they are readily available for specific research or clinical applications, minimizing the need for custom design and reducing time-to-results.

Application Insights:

• Cancer Risk Assessment
• Diagnosis of Congenital Diseases
• Pharmacogenetics
• Others

Cancer risk assessment dominates the market due to its critical role in identifying individuals at higher risk of developing cancer, allowing for early intervention and personalized preventive measures.

End User Insights:

• Academic and Research Institutes
• Hospital and Diagnostic Laboratories
• Pharmaceutical and Biotechnology Companies

Academic and research institutes hold maximum number of shares due to their pivotal role in pioneering innovative scientific discoveries and driving the demand for advanced research tools and technologies.

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America’s dominance in the gene panel market is attributed to its robust healthcare infrastructure, substantial investments in genomics research, and a high adoption rate of advanced genetic testing technologies.

Global Gene Panel Market Trends:

The global shift toward preventive healthcare practices has spurred the demand for gene panel testing. Individuals are increasingly interested in proactively managing their health and assessing their genetic predisposition to various diseases. Gene panels offer a means of identifying potential health risks early on, empowering individuals to make informed lifestyle choices and seek timely medical interventions. This preventive approach to healthcare aligns with the growing trend of personalized wellness, contributing to the growth of the market. Additionally, continuous advancements in next-generation sequencing (NGS) technologies have played a pivotal role in the expansion of the gene panel market. NGS platforms have become more cost-effective, efficient, and accessible, enabling researchers and healthcare providers to conduct comprehensive genetic analyses on a larger scale. Gene panels integrated with NGS offer high-throughput sequencing capabilities, allowing for the simultaneous examination of multiple genes, making them indispensable tools in genomics research, diagnostics, and drug development.

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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