WASHINGTON, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research analyses that the Gene Panel Market which was USD 2.20 Billion in 2021, would rocket up to USD 3.09 Billion by 2028, and is expected to undergo a CAGR of 20.1% during the forecast period 2022 to 2028. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Vantage Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Recent Developments:
February 2021: QIAGEN and INOVIO Expand Collaboration to Develop Next-Generation Sequencing (NGS) Companion Diagnostic for INOVIOs VGX-3100 for Advanced Cervical Dysplasia.
April 2021: Illumina and Kartos Therapeutics Announce New Oncology Partnership to Develop an NGS-Based TP53 Companion Diagnostic. With this partnership, Illumina will expand the TruSight Oncology offerings into hematologic malignancies.
List of Prominent Players in the Gene Panel Market:
- Thermo Fisher Scientific Inc.
- BGI
- GENEWIZ, Inc.
- GATC Biotech
- Novogene Co., Ltd.
- QIAGEN
- Integrated DNA Technologies, Inc.
- Illumina Inc.
- Agilent Technologies, Inc.
- Eurofins Scientific
- F. Hoffmann-La Roche Ltd
- Personalis Inc.
- GeneDx Inc.
- Invitae Corporation
What is Gene Panel? What will be the valuation of the Global Gene Panel Market by 2028?
Market Dynamics:
Escalating Prevalence of Infectious and Chronic Diseases
The number of infectious and chronic diseases are proliferating across the globe amid all the precautions and personal hygiene procedures taken care of. In the prevention of chronic diseases, nutrition and diet are the most critical factors. Whereas, nutritional content in diet is deteriorating, prevalence of chronic diseases worldwide is escalating, especially across developing countries including Southeast Asian countries and Western European countries. Cardiovascular diseases, diabetes, neurological, osteoporosis, and cancer, are some of the common chronic diseases. Thus, increasing chronic diseases prevalence will ultimately upsurge the demand for Gene Panels, further propelling the Gene Panels market growth over the forecast period.
Increasing number of Congenital Diseases
Congenital anomalies are also known as birth defects, congenital disorders or congenital malformations. According to World Health Organization (WHO), around 295 000 new-borns die within 28 days of birth every year, worldwide, due to congenital anomalies. Moreover, number of people living with Sickle cell disease (SCD) is also increasing. According to Centers for Disease Control and Prevention (CDC), Sickle cell disease (SCD) affects approximately 100,000 Americans. SCD occurs among about 1 out of every 365 Black or African-American births. Sickle cell disease (SCD) occurs among about 1 out of every 16,300 Hispanic-American births. Gene Panels have application in diagnosis of congenital disorders. Thus, increase in number of Congenital Diseases is increasing the need for Gene Panels. Consequently, propelling the market growth over the forecast period.
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The Report on Gene Panel Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
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Frequently Asked Questions Covered in the Report:
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report.
- This report analyzed five years data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the Gene Panel market are explained in detail.
- Data and information by market player, by region, by type, by application and etc, and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the Global Gene Panel Market.
- Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Regional Analysis:
North America Dominates the Global Gene Panel Market
North America has dominated the Global Gene Panel Market in 2021 and is likely to continue the same trend during the forecast period. The market growth in the region is attributed to consumer demand for safe and effective genetic tests in the region. Additionally, mounting demand for personalized medicine in addition to the growing application of genetic testing in oncology is, further fuelling the market growth over the forecast period.
Asia Pacific is likely to witness fastest growth in the Gene Panel market during the forecast period. The market growth in the region is attributed to factors such as, presence of emerging economies, as well as large base of population. Additionally, rising healthcare spending is further propelling the market growth in the region.
Browse market data Tables and Figures spread through 140 Pages and in-depth TOC on Gene Panel Market Forecast Report (2022-2028).
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 2.20 Billion |
| Revenue Forecast by 2028 | USD 3.09 Billion |
| CAGR | 20.1% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players |
|
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