Global Gene Panel Market Gene Panel Forecasts to 2033

• The Global Gene Panel Market Size was Valued at USD 1.23 Billion in 2023
• The Market Size is Growing at a CAGR of 13.75% from 2023 to 2033
• The Worldwide Gene Panel Market Size is Expected to Reach USD 4.46 Billion by 2033
• Asia-Pacific is Expected to Grow the fastest during the forecast period.

The Gene Panel Market Size is Anticipated to Exceed USD 4.46 Billion by 2033, Growing at a CAGR of 13.75% from 2023 to 2033.

GENE PANEL MARKET REPORT OVERVIEW

Gene panels are sets of genes gathered together for testing purposes so that all known genes causing a given disease, condition, or phenotype can be sequenced at the same time. These panels are made to precisely target genes that are known to be important for the particular disease or clinical question being studied. Gene panels offer active testing and analysis of known disease-causing genes by focusing on a subset of genes. Compared to whole exome or whole genome sequencing, gene panel testing is typically less expensive because fewer genes have been sequenced. The analysis and interpretation of gene panel results are typically completed more quickly. Gene panels can find variations such as point mutations, insertion and deletions, copy number variations (CNV), and translocations. Since conventional sequencing methods might be overlooked. Additionally, the main strategy used by clinicians to improve disease diagnosis and therapy is now determining the genetic propensity for different forms of cancer or other genetic problems.

The rising incidence of cancer and hereditary disorders, the growing necessity for genetic screening, and the modification of screening standards to proactively lower the death rate from genetic disorders can boost market growth. The growing implementation of gene panels in cancer treatments is the primary driver of market growth. For instance, the FDA has approved the sale of a blood test that can identify changes in 47 genes linked to cancers that run in families.

Report Coverage

This research report categorizes the market for the global gene panel market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global gene panel market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global gene panel market.

DRIVING FACTORS:

The increased prevalence of chronic illnesses is fueling the market's expansion.

The market is expected to increase as a result of the rising prevalence of chronic diseases like cancer, heart attack, stroke, and arthritis that are linked to genes. Moreover, it is anticipated that the growing number of product approvals and launches will support the gene panel market during the course of the projected time. The growing diversity of cancers in both males and females could offer market expansion over the projected timeframe. In order to improve disease prognoses and treatments, physicians are calling for more effective diagnostic techniques to comprehend the hereditary susceptibility of any recognized genetic disorders, including cancer.

RESTRAINING FACTORS

The stringent government regulation could restrict the market growth.

The main obstacles impeding the expansion of the gene panel business are the government's stringent rules and standards for pharmaceutical companies and concerns about genetic data protection. Furthermore, the expansion of the market is impacted by next-generation sequencing (NGS) gene panels' incapacity to detect some allelic mutations.

Market Segmentation

The gene panel market share is classified into products & services and techniques.

The test kits segment has the highest share of the market throughout the forecast period.

Based on products & services, the gene panel market is classified into test kits and testing services. The best tools for detecting genetic alterations in proteins, chromosomes, or genes are genetic testing kits. Key competitors introduced direct-to-customer test kits in response to customer demand for at-home testing, which propelled the segment's growth. The segment's domination was further aided by growing clinical studies and regulatory approvals. A favorable outcome can point a person in the direction of available alternatives for monitoring, treatment, and prevention. Certain test findings can also be used to inform decisions regarding starting a family. Early detection of genetic abnormalities by newborn screening enables prompt initiation of treatment. In gene testing services direct-to-consumer tests (DTC) are most popular among consumers. These tests give people access to data regarding genetic predispositions and how they react to substances and treatments. The growing field of these tests has made provider education and public genetic literacy more crucial than ever.

The amplicon-based technique owing to the greatest market share during the forecast period.

Based on technique, the gene panel market is classified into an amplicon-based approach and a hybridization-based approach. Amplicon sequencing enables scientists to sequence targets in a single run that varies in number from a few to hundreds of genes. By evaluating numerous genes at once, this ultra-high multiplexed PCR method speeds up research. The major companies utilizing this technology are anticipated to keep launching new products, which will fuel the segment's expansion. Amplicon-based gene panels are the dominant method in the gene panel market because of their dependability, repeatability, and capacity to evaluate a high number of genes. the hybridization-based technique is anticipated to develop fastest rate due to its applicability for comprehensive genetic analysis and the diagnosis of complicated genetic illnesses.

Regional Segment Analysis of the Global Gene Panel Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America has the biggest share of the gene panel market throughout the forecast period.

The government's backing of genomics research is largely responsible for the market share in North America. Leading NGS providers, expanding cancer and hereditary rare disease research, and an increase in NGS-based and clinical applications in the area are further growth factors. There has been a noteworthy upsurge in the number of NGS-based and clinical applications in the region, along with a notable boost in research on cancer and hereditary uncommon disorders. Furthermore, the region's concentration of top NGS suppliers and the expanding government funding for genomics research has accelerated the field's progress.

The Asia-Pacific is the fastest-growing region during the projected timeframe.

This is because the region is home to several highly populated countries and the government is spending an increasing amount of money on healthcare services. Furthermore, the Asia-Pacific region's fastest-growing gene panel market was India, while China held the greatest market share. Due to the region's growing healthcare infrastructure, growing public awareness, and the increasing prevalence of genetic illnesses and cancer, applications like pharmacogenomics, congenital disease detection, and cancer risk assessment are being adopted at a faster rate.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global gene panel market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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.
• Others

Key Market Developments

• In May 2024, 10x Genomics revolutionized single-cell analysis with the Xenium Prime 5K Pan-Tissue and Pathways panel. This allowed for an in-depth investigation of cellular biology and disease causes.

• In April 2023, a new NGS panel for thorough genomic profiling of solid tumors called the SureSelect Cancer CGP Assay was introduced by Agilent Technologies, Inc.

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