The global gene panel market is expected to reach an approximate CAGR of ~19% during the forecast period. The rising prevalence of genetic diseases and cancer is the key factor for the market to grow. According to the Cancer Research U.K., in 2012, 14.1 million cases of cancer were diagnosed all over the world, and 8.2 million died due to cancer. It also projected that the number of cancer patients is expected to reach 23.6 million by 2030.
The increase in adoption of genetic testing, rising company initiatives, technological advancements such as Next Generation Sequencing (NGS) system, and the need for efficient prenatal diagnosis are important factors influencing the growth of the market. It is estimated that Next-Generation Sequencing (NGS) enables to sequence the entire DNA and RNA sequences in order to detect the presence of any mutation in the genome. With these diagnostic benefits of gene panel, the market is projected to grow rapidly.
However, factors such as high cost of testing followed by erroneous results and security concerns for the genetic data are estimated to hinder the market growth during the forecast period.
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Global Gene Panels Market – Key Players
Thermo Fisher Scientific (U.S.)
Hoffmann-La Roche AG (Switzerland)
Agilent Technologies (U.S.)
Integrated DNA Technologies (IDT) (U.S.)
Eurofins Scientific (U.S.)
Novogene Corporation (China)
GATC Biotech AG (GATC Biotech) (Germany)
Global Gene Panel Market: Segmentation
Global Gene Panel Market, by Product & Service
Global Gene Panel Market, by Technique
Global Gene Panel Market, by Design
Predesigned Gene Panels
Customized Gene Panels
Global Gene Panel Market, by Application
Cancer Risk Assessment
Syndrome-Specific Gene Panels
High-Penetrance Gene Panels
High and Moderate-Penetrance Gene Panels
Comprehensive Cancer Risk Panels
Diagnosis of Congenital Disorders
Global Gene Panel Market, by Region
The Middle East & Africa
Government and private laboratories
Research and Development (R&D) companies
Medical research laboratories
Market research and consulting service providers
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Global Gene Panels Market – Regional Analysis
The gene panel market is dominated by Americas owing to the increasing prevalence of chronic diseases such as cancer. The American Cancer Society, Inc., estimated that there would be 1,735,350 new cancer cases diagnosed in the United States in 2018. Increasing cancer care expenditure in the United States is likely to drive the market growth. The U.S. Department of Health and Human Services estimated USD147.3 billion national expenditures for cancer care in 2017. The growing biotech sector in the U.S. also drives the market growth in this region. According to Statista (2015), around 108 billion U.S. dollars revenue was generated from the biotech sector in U.S. Additionally, the presence of the highest concentration of biotech companies in the U.S. influences the growth of the market.
It is estimated that Europe stood second in the global gene panel market. Increasing research and development activities for cancer and congenital diseases drive the growth of the market in Europe.
According to Eurostat, in 2014, 26.4% of the total death number was due to cancer. These concerns, enhance the research and development activities in Europe, thereby influencing the growth of the market.
Asia Pacific will witness growth for the gene panel market owing to growing prevalence of cancer. China accounts for the largest prevalence of cancer in the Asia Pacific region. The American Cancer Society, Inc., in 2012 estimated that China accounted for 48.9% of the total cancer cases in South-Eastern Asia and India and Japan accounted for 16.2% and 11.2%, respectively. Additionally, increasing health expenditure in Asia Pacific influences the market growth.
The Middle East and Africa is expected to witness growth at a slower pace due to the less exposure to healthcare services and low per capita healthcare expenditures in the African region. Whereas, the Middle Eastern market is estimated to be growing at a faster rate due to increase in government initiatives, new health insurance policies, and digital health services during the forecast period
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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