According to the latest report by IMARC Group, titled, “Gene Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global gene panel market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
|Market Size in 2022
|US$ 864.75 Million
|Market Forecast in 2028
|US$ 2,233.06 Million
|Growth rate (2023 to 2028)
|CAGR of 16.3%
|Base Year of the Analysis
Gene panel refers to a laboratory test used to analyze a set of genes with variants known to be associated with the development of a disease or a collection of clinical symptoms under investigation. It aids in detecting mutations in specific genes in a tissue sample that may increase the risk of a disorder, including cancer, in an individual. Gene panel sequencing is usually performed using next-generation sequencing (NGS) technology. Compared to sequential single-gene sequencing, whole-exome sequencing (WES), and whole-genome sequencing (WGS), gene panel is faster and more cost-effective. It is gaining immense traction across the globe.
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The increasing incidences of hereditary disorders and cancer are primarily driving the gene panel market. Furthermore, the escalating demand for efficient diagnostic methods among clinicians to understand the genetic predisposition of any cancer or other known genetic disorders to determine better disease prognostics and therapeutics is also augmenting the market growth. Apart from this, the growing popularity of predesigned and customizable gene panels and direct-to-consumer genetic testing kits that do not require wide laboratory setup or personnel is positively influencing the global market. Moreover, numerous biopharmaceutical and biotechnology companies are investing in extensive research and development (R&D) activities to introduce targeted therapies for cancer treatment, which is further bolstering the market growth. Besides this, the rising need for gene panels in pre-gestational, prenatal, and neonatal screening procedures is acting as another significant growth-inducing factor. Additionally, the launch of screening programs by government bodies of several countries and continuous technological advancements in diagnostics services and methods are expected to drive the gene panel market in the coming years.
The report has segmented the market into the following categories:
Products and Services Insights:
End User Insights:
Breakup by Region:
The report covers the major market players including:
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