Global Gene Panel Market is expected to register a CAGR of 13.72% to reach USD 2.5 Billion by 2030
The gene panel market is expected reach USD 2.5 billion by 2030 at 13.72% CAGR during the forecast 2022-2030.The various selected set of genes which is commonly used for suspecting relationship with the phenotype or disease for the study is done in gene panel market. The custom-designed or predesigned- content can be purchased by the market to include the genomic region of interest. Owing to the increasing cases of different types of cancers like breast cancer in women, cancer in ovaries, cancer in fallopian tubes, and prostate cancer in men a significant growth has been seen in the global market.
COVID 19 Analysis
The normal working lives of people have been affected adversely owing to the prevailing global pandemic situation of COVID 19 all across the globe. This situation has pushed the economies towards forced recession. The outbreak of the global pandemic of COVID 19 resulted in financial crises along with health concerns. The lockdown situation during the peak COVID 19 situation has abruptly affected the supply chain operations of the gene panel market which resulted in a steep downfall in sales revenue of the market.
However, it is expected that the market will recover from this global pandemic situation by the end of the third quarter of the coming year.
Owing to the increasing variety in the cases of cancers in both males and females and benefits provided by the gene panel market to fight against cancer propel the market growth. Also, the increasing efficiency in the working of market is another factor that boosts the growth of the market. The advancement in technology and an increasing need for prenatal diagnosis is another contributing factor to accelerate the growth of the market.
The rise in the growth of demand of gene panel market in the global market. During the forecasted period, a huge investment is expected to be done by the major market key players and increasing pool of patients provides growth opportunities in the future. Investment is done by the government in the market also offers growth factor in the global market.
The gene panel market is increasing constantly in the global market but some factors restrain its growth during the forecasted period. The stringent regulations related to establishing pharmaceutical companies and regulations related to its working hinder the growth of the market. Moreover, the safety concern regarding genetic data is another hindrance in the growth of the global market.
Value Chain Analysis
The demand for the gene panel market is increasing tremendously in the global market and hence adds value to society. The modern market helps in analyzing multiple genes for cancer mutations at the same time. The two most common genes which help in suppressing tumors are BRCA1 and BRCA2 by repairing the damaged DNA whose mutations can cause cancer and hence helps in saving the lives of many people.
The gene panel market in the global market has been divided into broader terms based on products & services, technique, design, application, and end-users.
Based on the Product & Service
Based on the Technique
Based on the Design
Based on the Application
Based on the End-Users
The gene panel market has been divided based on the region into North American region, the Middle East and African region, Asia-Pacific region, European region, and the rest of the world. The largest market share in the global market is held by the North American region and hence it dominates the global market. The growing cases of cancer patients drive the market in this region.
The second-largest market share in the global market is held by the European region as the number of cancer cases is expected to increase with a 2% growth rate in the U.K. The third-largest market share in the global market is held by the Asia-Pacific region owing to increasing expenditure on healthcare facilities by the government. The presence of a high population in the Asia-Pacific region is another contributing factor.
The most prominent major key players in the gene panel market in the global market are mentioned below:
These major market key players in the market adopt various strategies and techniques to expand in the global market by establishing a joint venture, collaboration, mergers, and acquisitions, establishing a partnership, developing a new production process, developing a new product, innovation in the existing products to expand their customer base in the untapped market.
This gene panel market research report consists of the following elements:
This global market research report contains various factors that drive the market to greater heights in the market along with the factors that restrain its growth in the global market. The various growth opportunities available during the forecasted period in the global market are mentioned. The impact of COVID 19 on the sales revenue of the market is enumerated. The future growth rate of the market in the global market is estimated and mentioned.
Pharmaceutical companies, research and development organizations, academic institutes, contract research organizations, market research and consulting service providers, and many others.
|Market Size||USD 2.5 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product & Service, By Technique, Design, Application, End User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Agilent Technologies Inc. (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche Ltd (Switzerland), Qiagen (Germany), Illumina Inc. (US), BGI Genomics (China), Integrated DNA Technologies, Inc. (US), GENEWIZ (US), Novogene Corporation (US), Personalis, Inc. (US), GATC Biotech AG (Germany), ArcherDX, Inc. (US), GeneDx (Switzerland), and CENTOGENE AG (Germany)|
|Key Market Opportunities||Rising investments by major market players, and growing patient pool|
|Key Market Drivers||
Gene Panel Market is projected to grow at a 13.72% CAGR between 2022-2030.
Gene Panel Market predicted to touch USD 2.5 billion by 2030.
The Americas is expected to lead the Gene Panel Market.
The cancer risk assessment segment will have the largest share in the Gene Panel Market.
Inaccuracy of the test may limit market growth.