The Gene Panel Market Size valued at USD 1.1 Billion in 2022. The Gene Panel market industry is projected to grow from USD 1.25 Billion in 2023 to USD 3.49 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.72% during the forecast period (2023 - 2032). The increased number of cases of chronic diseases and growing investment by the government and the major market players are the key market drivers enhancing the growth of market.
Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for gene panels is being driven by the rising cases of chronic diseases. The growing burden of chronic diseases that are associated with genes like heart attack, stroke, cancer, arthritis, and others is anticipated to boost the market growth. Further, the increasing number of product approval and launches is foreseen to boost the  gene panel market throughout the forecast period. The rising variety in the cases of cancers in females and males both and the benefits offered by the gene panel market.
A gene panel is a test that helps to analyze multiple genes at the same time for cancer-associated mutations. This test has the ability to examine a various genes that helps in providing information related to cancer and also offers a secure diagnostic that assists in preventing cancer from spreading. The growing number of cancer cases of different types, including breast cancer, cancer of the ovaries, fallopian tubes, and prostate cancer in men, and rising frequencies of chronic diseases throughout the world are the main factor boosting the gene panel market. Further, a growing number of initiatives taken by different companies worldwide and other benefits of gene panels are the prime reasons favoring the growth of the gene panel market. As per the Genetic and Rare Disease Information Center, there are around 7,000 diagnosed genetic conditions, and the list is continuously increasing. Several gene panels are fabricated to detect genetic disorders at birth so that effective therapeutic steps and prognoses can be taken as early as possible.
During the forecast period, huge investment is anticipated by the market players and the government to be done, and a rising pool of patients offers growth opportunities in the coming years. The advancement in technology and the rising need for prenatal diagnosis are other factors boosting the growth of the market. Thus, driving the Gene Panel market revenue.
However, the strict regulations and policies by the government for the pharmaceutical companies and protection issues about genetic data are the prime challenge experienced by the gene panel market and restraining the market growth. Further, the inability of next-generation sequencing (NGS) gene panels is detecting some allelic mutations, thus impacting the market growth.
The Gene Panel market segmentation, based on technique, includes Amplicon Based Approach and Hybridization Based Approach. The amplicon-based approach segment dominates the market, accounting for the largest market revenue as it is the popular target-based next-generation sequencing method that analyzes genetic discrepancy in a specific genome region. It is utilized for genotyping through sequencing, locating an inherited SNP, validation of CRISP, and detection of indels. Further, the hybridization approach is the best in regard to complexity and uniformity, which is advantageous when sequencing a large number of genes. It is often utilized for multigene panels in different clinical applications owing to its reliability and reproducibility.
The Gene Panel market segmentation, based on design, includes Predesigned Gene Panel and Customized Gene Panels. The predesigned gene panel segment dominated the market as humans are yet at the developing stage of understanding the genetic predisposition to any disorder; it is always most relevant that the predesigned gene panels are utilized for consumer genetic testing in order to yield comprehensive analysis. Further, the customized gene panel segment is expected to witness steady growth as it is utilized for the diagnosis of rare disorders and several research purposes where a deep understanding of a particular rare gene disorder is important.
Figure 1 Gene Panel Market, by Design, 2022 & 2032 (USD Billion)
Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review
By region, the study gives market insights into the North America, Europe, Asia-Pacific, and the Rest of the World. The North American Gene Panel market area dominates the market due to the extensive research that are carried out in different research institutes collaboratively sponsored by academic research institutes, National Cancer Institutes, and pharmaceutical giants throughout the region. The US is the largest contributor to the growth of the gene panel market in the North American region.
Further, the prime countries studied in the market report are the US, Canada, France, German, the UK, Italy, Spain, Japan, India, China, Australia, South Korea, and Brazil.
Figure 2 GENE PANEL MARKET SHARE BY REGION 2022 (USD Billion)
Source The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Gene Panel market accounts for the second-largest market revenue due to the rise in the number of cases of cancer and increasing investment in research and development made by various organizations. Further, the German Gene Panel market held the largest market share, and the UK Gene Panel market was the rapid-growing market in European region.
The Asia-Pacific Gene Panel Market is expected to grow at the rapid CAGR from 2023 to 2032. This is due to the rising expenditure on healthcare facilities by the government and the presence of highly populous countries in this region. Moreover, China’s Gene Panel market held the largest market share, and the Indian Gene Panel market was the rapid-growing market in Asia-Pacific region.
Gene Panel Key Market Players & Competitive Insights
Leading market players are investing hugely in research and development in order to expand their product lines, which will help the Gene Panel market grow even more. Market players are also undertaking a variety of strategic activities to spread their footprint, with important market developments including new product launches, higher investments, contractual agreements, mergers and acquisitions, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Gene Panel industry must offer cost-effective items.
Manufacturing locally to minimize the operational costs is one of the key business tactics used by the manufacturers in the Gene Panel industry to benefit clients and the market sector. In recent years, the Gene Panel industry has offered some of the most significant advantages to the biotechnology industry. Major players in the Gene Panel market, including Eurofins Genomics, Illumina Inc, Gencove, Centogene NV, Myriad Genetic Laboratories Inc., Agilent Technologies, Thermo Fisher Scientific, Foundation Medicine Inc., Bio-Rad Laboratories Inc., Guardant Health Inc., others, are attempting to increase market demand by investing in research and development operations.
Gencove, a US-based biotechnology company founded in the year 2015, is the provider of information proposed to make genome sequencing technologies more accessible and analyzed. The company makes molecular and computational tools for enabling high-throughput and low-cost genome sequencing technologies for industries like agriculture and pharma, allowing the researchers to have access to genomic data. In January 2021, the company and BGI Americas Corporation, which is a subsidiary of BGI Genomics in the US, announced the extension of collaboration which was intended to combine sequencing assistance BGI using proprietary DNBSEQ sequencing technologies with the evaluation interface of Gencove in order to use high-capacity, cost-effective whole genome data for actionable tasks.
Illumina Inc is an American biotechnology company founded in the year 1998, headquartered in San Diego, California, serving more than 140 countries. The company develops, produces, and sells integrated systems for the interpretation of genetic variation and biological function, providing a line of services and products that serves the genotyping, sequencing, gene expression, and proteomics markets. The company sells a variety of high-throughput DNA sequencing systems, depending on technology developed by Solexa. In March 2022, the company launched the TruSight Oncology Comprehensive test in the European region, which can capably evaluate a total of 517 tumor genes throughout 30 types of cancer and biomarkers to be able to gain specific individual molecular profiles. The test evaluates peculiar genomic signatures like tumor mutational burden and microsatellite instability.
Key Companies in the Gene Panel market includes
Gene Panel Industry Developments
March 2022Â Eurofins Genomics encourages the mission of 'Our Future Health,' which is the largest ever health analysis program of the UK to assist genotype five million individuals in order to generate a diverse idea of the health of inhabitants in the UK. This is helpful data for diagnosis, prevention, and therapy of ailments.
June 2022Â Centogene NV announced the expansion of its collaboration with Agios Pharmaceuticals Inc. in order to devise improved therapeutics for genetically confirmed infirmity by using PYRUKYND. This is the first-in-class, selective, small-molecule activator of the pyruvate kinase enzymes.
February 2021Â Hydroxycut's novel creation, CUT Energy, a delectable clean energy drink, was released. This powerful mix was thencarefully formulated for regular energy drink consumers, the exercise enthusiasts, and dieters looking to lose weight.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 1.1 Billion |
| Market Size 2023 | USD 1.25 Billion |
| Market Size 2032 | USD 3.49 Billion |
| Compound Annual Growth Rate (CAGR) | 13.72% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technique, Design, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Eurofins Genomics, Illumina Inc, Gencove, Centogene NV, Myriad Genetic Laboratories Inc., Agilent Technologies, Thermo Fisher Scientific, Foundation Medicine Inc., Bio-Rad Laboratories Inc., Guardant Health Inc. |
| Key Market Opportunities | Technological advancement in the field of biotechnology. |
| Key Market Dynamics | Increased cases of chronic diseases and rising investments by government and market players. |
Gene Panel Market Highlights:
Frequently Asked Questions (FAQ) :
The Gene Panel market size valued at USD 1.1 Billion in 2022.
The market is projected to raise at a CAGR of 13.72% throughout the forecast period, 2023-2032.
North America had the largest share of the market
The key players in the market are Eurofins Genomics, Illumina Inc, Gencove, Centogene NV, Myriad Genetic Laboratories Inc., Agilent Technologies, Thermo Fisher Scientific, Foundation Medicine Inc., Bio-Rad Laboratories Inc., Guardant Health Inc.
The Amplicon-Based Approach category dominated the market in 2022.
The Predesigned Gene Panel had the largest share in the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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