Gene Panel Market Size 2023 | Industry Trends, Share and Forecast 2028

Gene Panel Market Size 2023 | Industry Trends, Share and Forecast 2028

September 4, 2023

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.

Report Highlights:

How big is the gene panel market?

Report AttributesDetails
Market Size in 2022US$ 864.75 Million
Market Forecast in 2028US$ 2,233.06 Million
Growth rate (2023 to 2028)CAGR of 16.3%
Base Year of the Analysis2022
Forecast Period2023-2028

What is gene panel?

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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What are the growth prospects and trends in the gene panel industry?

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.

What is included in market segmentation?

The report has segmented the market into the following categories:

Products and Services Insights:

  • Test Kits
  • Testing Services

Technique Insights:

  • Amplicon-based Approach
  • Hybridization-based Approach

Design Insights:

  • Predesigned Gene Panel
  • Customized Gene Panel

Application Insights:

  • Cancer Risk Assessment
  • Diagnosis of Congenital Diseases
  • Pharmacogenetics
  • Others

End User Insights:

  • Academic and Research Institutes
  • Hospital and Diagnostic Laboratories
  • Pharmaceutical and Biotechnology Companies

Breakup by Region:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

  • Agilent Technologies Inc.
  • BGI Genomics Co. Ltd. (BGI Group)
  • Eurofins Scientific SE
  • Hoffmann-La Roche AG
  • Genewiz LLC (Azenta Inc.)
  • Illumina Inc.
  • Integrated DNA Technologies Inc. (Danaher Corporation)
  • Novogene Co. Ltd.
  • Qiagen N.V.
  • Thermo Fisher Scientific Inc., etc.

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About Us

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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