New York, NY, Aug. 29, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Gene Panel Market by Product & Services (Test Kits and Testing Services), by Techniques (Amplicon-based Approach and Hybridization-based Approach), by Design (Predesigned Gene Panels and Customized Gene Panels), by Application (Cancer Risk Assessment, Syndrome-specific, High-penetrance, High and Moderate-penetrance, Comprehensive Cancer Risk, Diagnosis of Congenital Diseases, Pharmacogenetics, and Others), and by End-user Industry (Research and Academic Institutes, Hospital and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global gene panel market accounted for USD 1,050.23 million in 2017 and is expected to reach approximately USD 4,280.43 million by 2024, growing at a CAGR of around 19.32% between 2018 and 2024.
Targeted gene panels are prime tools which are used to examine a specific mutation in a study sample. Focused panels include a selected set of genes which have a known association with the phenotype or a disease which is being studied. These panels can be bought with a custom-made design so as to include genomic regions of interest in it or can be purchased with a preselected content.
Browse through 83 Tables & 16 Figures spread over 110 Pages and in-depth TOC on “Global Gene Panel Market Share 2017: By Product & Services, Industry Type, Size, Trends, Analysis and Forecast to 2024”.
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Next-generation sequencing (NGS) provides the speed, resolution as well as the scalability to assess the targeted genes of interest. Various genes can be accessed from multiple samples simultaneously, thus saving the time as well as reducing the cost which is associated with running different separate assays. Targeted gene sequencing also produces a more manageable and smaller dataset as compared to broader approach such as whole-genome sequencing, making analysis easier.
The global gene panel market is expected to witness excellent growth within the forecast period. The growth is mainly associated with increased prevalence of chronic disorders across the world. In addition, expansion of gene sequencing segment in healthcare also helps in driving the growth of the gene panel market. However, few factors such as government regulations, lack of awareness, and high cost are the key restraining factor for the growth of the gene panel market. Nonetheless, various research and technological advancements are considered better opportunities that will help in bringing the growth avenue for the gene panel market within the forecast period.
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Based on product and service type, the global gene panel market is segmented into two types which include test kits and test kit services. The test kit is one of the important groups and is contributing approximately more than 50% of the gene panel sales.
Based on application, the global gene panel market is classified into four types: diagnosis of congenital diseases, cancer risk assessment, pharmacogenetics, and others. Cancer risk assessment accounts for the largest market share in the forecast period and is likely to continue its dominance within the forecast period. The growth is due to the presence of increasing cases of cancers among all age groups.
Based on end-users, the global gene panel market is classified into five types research and academic institutes, hospital and diagnostic laboratories, pharmaceutical and biotechnology companies, and others. Hospitals and diagnostic laboratories were the major consumers of the gene panel market in the year 2017.
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North America and Europe are the most attractive markets for the gene panel market and is expected to remain the same within the forecast period. North America is the largest consumer and has gained approximately more than 38% of world market share in 2017 followed by Europe. The demand for gene panel in both regions is seen to grow continuously due to the presence of advanced infrastructure in the region.
The Asia Pacific and Latin America together held approximately more than 25% of total world demand in 2017 due to emerging markets like India, China, and Brazil. The Asia Pacific region is the most promising region for gene panel market and is expected to rise in the near future. China is the biggest consumer followed by India in the Asia Pacific region. The demand for gene panel market in Asia Pacific market is anticipated to grow at a CAGR of 17.9% in term of consumption.
Browse the full "Gene Panel Market by Product & Services (Test Kits and Testing Services), by Techniques (Amplicon-based Approach and Hybridization-based Approach), by Design (Predesigned Gene Panels and Customized Gene Panels), by Application (Cancer Risk Assessment, Syndrome-specific, High-penetrance, High and Moderate-penetrance, Comprehensive Cancer Risk, Diagnosis of Congenital Diseases, Pharmacogenetics, and Others), and by End-user Industry (Research and Academic Institutes, Hospital and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/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.
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This report segments the global gene panel market as follows:
Global Gene Panel Market: Product & Service Type Analysis
- Test Kits
- Testing Services
Global Gene Panel Market: Techniques Type Analysis
- Amplicon-based Approach
- Hybridization-based Approach
Global Gene Panel Market: Design Type Analysis
- Predesigned Gene Panels
- Customized Gene Panels
Global Gene Panel Market: Application Type Analysis
- Cancer Risk Assessment
- Diagnosis of Congenital Diseases
- Pharmacogenetics
- Others
Global Gene Panel Market: End-Users Analysis
- Research and Academic Institutes
- Hospital and Diagnostic Laboratories
- Pharmaceutical and Biotechnology Companies
- Others
Global Gene Panel Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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