Global Gene Panel Market Size To Worth USD 4.46 Billion by 2033 | CAGR of 13.75%
Category: HealthcareGlobal Gene Panel Market Size To Worth USD 4.46 Billion by 2033
According to a research report published by Spherical Insights & Consulting, the Global Gene Panel Market is to Grow from USD 1.23 Billion in 2023 to USD 4.46 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 13.75% during the projected period.
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Browse key industry insights spread across 265 pages with 120 Market data tables and figures & charts from the report on the "Global Gene Panel Market Size, Share, and COVID-19 Impact Analysis, By Product & Services (Test Kits, and Testing Services) By Technique (Amplicon-Based Approach, and Hybridization-Based Approach), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/gene-panel-market
Gene panels are collections of genes assembled for testing purposes, allowing for the simultaneous sequencing of all known genes responsible for a certain trait, disease, or condition. The genes that are specifically targeted by these panels are those that are known to be significant for the specific illness or clinical issue under investigation. By concentrating on a subset of genes, gene panels provide active testing and analysis of known disease-causing genes. Because fewer genes have been sequenced in gene panel testing than in whole exome or whole genome sequencing, the cost is usually lower. Results from gene panels are usually analyzed and interpreted more quickly. However, the stringent controls enforced by the government can hinder the market's growth.
The test kits category is expected to hold the largest market share.
Based on products & services, the gene panel market is divided into test kits and testing services. Among these, the test kits category is expected to hold the largest market share. The best tools for detecting genetic alterations in proteins, chromosomes, or genes are genetic testing kits. The introduction of direct-to-customer test kits by major rivals in response to consumer demand for at-home testing fuelled the expansion of the market. The dominance of the segment was reinforced by an increase in regulatory approvals and clinical trials. Direct-to-consumer testing (DTC) is the most common option for gene testing services among customers.
The technique based on amplicon technology has the largest market share over the duration of the forecast.
Based on technique, the gene panel market is divided into amplicon-based approach and a hybridization-based approach. Among these, the technique based on amplicon technology has the largest market share over the duration of the forecast. Amplicon sequencing allows researchers to sequence targets, which can range in quantity from a few to hundreds of genes, in a single run. Research is accelerated by this ultra-high multiplexed PCR technology, which evaluates many genes simultaneously. It is expected that the leading firms using this technology will continue to release new products, which will support the growth of the market. Amplicon-based gene panels are the industry standard due to their high gene count evaluation capability, repeatability, and dependability. Because it may be used for both the diagnosis of complex genetic disorders and comprehensive genetic analysis, hybridization-based technology is expected to advance at the highest rate.
North America has the highest share of the global gene panel market over the forecast period.
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The market share in North America can be attributed in large part to government support for genomics research. Additional growth factors in the field include a rise in NGS-based and clinical applications, a surge in cancer and hereditary rare disease research, and a leading NGS supplier. Research on cancer and inherited rare disorders has significantly increased in the region, and there has been a noticeable jump in the number of NGS-based and clinical applications. Furthermore, the advancement of the discipline has been expedited by the region's concentration of leading NGS vendors and the growth in government financing for genomics research.
Asia-Pacific is predicted to grow fastest pace throughout the forecast period. This is because there are several highly populous countries in the region and there is an increase in government spending on healthcare services. Furthermore, in the Asia-Pacific region, China held the biggest market share, while India's gene panel market was expanding at the fastest rate.
Major vendors in the global gene panel market include Blueprint Genetics, Illumina, Centrillion Technology Holdings Ltd, Myriad Genetics, Inc, Qiagen, Ancestry, BGI Genomics Co., Ltd, Eurofins Scientific SE, GENEWIZ, Inc, Novogene Corporation, Personalis, Inc, F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc, Agilent Technologies, Inc, and Others.
Recent Developments
- In May 2024, 10x Genomics introduced the Xenium Prime 5K Pan-Tissue and Pathways panel, which completely changed single-cell analysis. This made it possible to thoroughly examine the causes of disease and cellular biology.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global gene panel market based on the below-mentioned segments:
Global Gene Panel Market, By Product & Services
- Test Kits
- Testing Services
Global Gene Panel Market, By Technique
- Amplicon-Based Approach
- Hybridization-Based Approach
Global Gene Panel Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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