Gene Panel Market Size, Share, Trends, Growth and Forecast 2032

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A gene panel is a kind of test that helps in the analysis of multiple genes at the same time for cancer-associated mutations. BRCA1 and BRCA2 are two genes responsible for the production of proteins which help in suppressing the tumor. These proteins help in repairing the DNA which is damaged and avoid the growth of tumor cells. The DNA which is damaged may not be repaired accurately when either of these genes is mutated or altered, resulting in a condition wherein the cells are more prone to develop a further genetic mutation that can cause cancer. 

Both women and men can be analyzed for the mutation in the BRCA1 or BRCA 2 genes which helps in the evaluation of risk for developing a different type of cancer including fallopian or peritoneal cancer, ovarian, breast cancer in women, and prostate in men.

 
Globally, gene panel market has been hastened due to rising prevalence of chronic diseases across the globe. Moreover increasing numbers of company initiatives across the world coupled with benefits of gene panels are considered as major factors which help in driving the gene panel market. However, stringent rules and regulations for the pharmaceutical companies coupled with safety concerns with the genetic data is the key restraining factor that hinders the growth of the gene panel market. Nonetheless, ongoing research and development in the field of technology of the gene sequencing may bring huge growth opportunities for the development of the market within the forecast period. 
 
Based on product and service type, the global gene panel market is segmented into two types such as test kits and testing. The test kits are the most preferred and accounted for the largest market share in terms of revenue in the year 2017. This growth is attributed due to increased demand for the test kit. Recently technological advancement coupled with increased accuracy of the test kits is considered as the major driver for the growth of the test kit market.

Based on end-users, the global gene panel market is segmented into four types: cancer risk assessment, diagnosis of congenital diseases, pharmacokinetics and others. In the end-user segment, cancer risk assessment accounted for the largest market share in terms of revenue in 2017. Increasing cancer cases among adults help in fuelling the growth of the gene panel market.

Based on region, the global gene panel market is fragmented into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In terms of revenue, North America is expected to account for the largest market share of the global gene panel market within the forecast period. Whereas, Europe accounted for the second largest market shares in the year 2017. Asia Pacific is expected to grow with the fastest CAGR within the forecast period. Developing economies such as China and India are the major drivers for the growth of this region in the gene panel market. In addition, increasing healthcare expenditure in this region is expected to bring huge growth opportunities which, in turn, will drive the gene panel market.

The report covers a detailed outlook which includes company profiles of the key participants, various reimbursement policies, and market shares of the players in the global gene panel market. These include QIAGEN, Illumina, Inc., Novogene Corporation, BGI, Agilent Technologies, GENEWIZ, Inc., Eurofins Scientific, Personalis, Thermo Fisher Scientific, F. Hoffmann-La Roche AG, and others.