Press release
Gene Panel Market Growth Driven by Rising Congenital Disorders and Advanced Testing Technologies
Gene Panel Market
Key Factors Driving Market Growth
Increased Demand for Comprehensive Testing: There is a growing demand for gene panels that provide comprehensive and precise testing, particularly for hereditary cancer syndromes. These panels are crucial for accurately detecting specific genetic mutations associated with cancers. The WHO reports that noncommunicable diseases (NCDs) account for 41 million deaths annually, which underscores the importance of effective testing for hereditary risks. Gene panels specifically designed for cancer risk assessment are expected to enhance early detection and preventive measures.
Adoption of Artificial Intelligence (AI) and Machine Learning (ML): The integration of AI and ML technologies into genomic profiling is transforming the market landscape. Innovations like Guardant Health's Guardant Infinity, launched in September 2023, combine genomic and epigenomic profiling with AI to provide a more detailed view of cancer in patients, paving the way for improved diagnostic and treatment strategies.
Regulatory Approvals for DNA Testing: The market is also benefiting from increasing regulatory approvals for DNA testing portfolios aimed at detecting various cancers and genetic predispositions. For example, the U.S. Food and Drug Administration (FDA) approved a hereditary cancer panel developed by Invitae Corporation in October 2023, which further validates the growing acceptance and reliability of genetic testing.
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Challenges in the Market
Despite the promising growth, concerns regarding genetic data protection pose challenges for the market. Safeguarding privacy related to genetic information is crucial, as traditional health data protection models offer limited security for genetic data. Recent incidents, such as the hacking of 23andMe's database in November 2023, highlight the potential risks of misuse of sensitive genetic information. This underscores the need for improved data security measures to build consumer trust in genetic testing services.
Market Segment Insights
The gene panel market is segmented based on offerings and applications, with test kits emerging as the leading segment. The demand for test kits is driven by the need for comprehensive cancer gene analyses. Companies are responding to this trend by launching Direct-to-Consumer (DTC) testing kits, such as those introduced by Quest Diagnostics in July 2023, to cater to the rising interest in at-home genetic testing.
The instruments segment is also expected to experience steady growth, driven by the increasing demand for gene analysis equipment, such as DNA sequencers and gene amplification devices. The integration of AI and ML algorithms into these instruments is anticipated to enhance testing accuracy and open new opportunities in diagnostics and research.
In terms of applications, cancer risk assessment holds the largest market share. Gene panels are vital for identifying genetic mutations linked to cancer, allowing for preventive strategies against solid tumors. The rising prevalence of breast cancer, which affects 2.3 million women globally each year, further propels the demand for effective testing solutions. Collaborations in AI-guided breast cancer research, such as the partnership between BPGbio and the U.S. Department of Defense's Clinical Breast Care Project announced in May 2023, are expected to strengthen advancements in cancer detection.
The pharmacogenetics segment is also gaining traction as gene panels are increasingly used to develop personalized treatment plans based on individual genetic profiles, helping healthcare providers tailor medication types and dosages for better patient outcomes.
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Gene Panel Top Companies and Competitive Landscape
The global gene panel market is fragmented, with several key players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new gene panel products and solutions.
Some major players included in the global gene panel market report are:
Agilent Technologies
Thermo Fisher Scientific Inc.
Illumina, Inc.
QIAGEN
Hoffmann-La Roche Ltd
Eurofins Scientific
BGI
Integrated DNA Technologies, Inc.
Synbio Technologies
Novogene Co, Ltd
Personalis, Inc.
GATC HEALTH.
GeneDx, LLC
CENTOGENE N.V.
Guardant Health
Natera, Inc.
Invitae Corp
Sophia Genetics
Swift Biosciences
Paragon Genomics, Inc.
Gene Panel Latest Industry Updates
On 3 October 2023, California, a biotechnology company based in the U.S. Invitae Corp. received the U.S. FDA approval for common hereditary cancers panel. Invitae was able to build a new device category based on its testing technology and methodology through this application, which gives significant marketing distinction and opportunity for its largest testing category.
On 20 June 2022, Avesthagen Limited partnered with Wipro limited to launch a project called 'Cancer risk assessed by NGS profiling of circulating free DNA and RNA for lung cancer project related Genomics sequencing services 'where the life sciences lab has been developing next generation sequencing with the help of AI and ML algorithms.
Gene Panel Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented the global gene panel market on the basis of offering, technique, application, end-use, and region:
Offering Outlook (Revenue, USD Billion; 2019-2032)
Test Kits
Instruments
Reagents
Software and Services
Others
Technique Outlook (Revenue, USD Billion; 2019-2032)
Amplicon Based Approach
Hybridization Based Approach
Whole Exome Sequencing (WES)
RNA Sequencing
Others
Application Outlook (Revenue, USD Billion; 2019-2032)
Cancer Risk Assessment
Pharmacogenetics
Diagnosis of Congenital Disorders
Infectious Diseases
Others
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals
Pharmaceutical and Biotechnology
Laboratories
Research and Academic Institutes
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa
Find More Competitor in TOC with Profile Overview Share Growth Analysis @ https://www.emergenresearch.com/industry-report/gene-panel-market
Strategic Overview: Analyzing Market Forces and Competitive Landscape
Gene Panel Market Size @ https://www.emergenresearch.com/industry-report/gene-panel-market/market-size
Gene Panel Market Share @ https://www.emergenresearch.com/industry-report/gene-panel-market/market-share
Gene Panel Market Trends @ https://www.emergenresearch.com/industry-report/gene-panel-market/market-trends
Gene Panel Regional Market Demand @ https://www.emergenresearch.com/industry-report/gene-panel-market/regional-market-demand
Gene Panel Market Analysis @ https://www.emergenresearch.com/industry-report/gene-panel-market/market-analysis
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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