Gene Panel Market Scope to Witness Growth by a CAGR of ~22% throughout 2022 - 2030

Research Nester published a report titled "Gene Panel Market: Global Demand Analysis & Opportunity Outlook 2030" which delivers detailed overview of theglobalgene panel market in terms of market segmentation by technology, design, application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The globalgene panel market is anticipated to attain a CAGR of ~22% over the forecast period, i.e., 2022 - 2030. The market is segmented on the basis of application, into cancer risk assessment, pharmacogenetics, congenital disorders, and others, out of which, the cancer risk assessment segment is anticipated to gain the largest share over the forecast period, owing to the rising prevalence of cancer across the world, especially in developed countries. According to the statistics by the World Health Organization (WHO), 2.26 new cases of breast cancer were recorded in 2020.

The globalgene panel market is estimated to grow on the back of growing advancement in genetic biotechnology, along with increasing investment in ongoing research and development activities in the field of genomics. Moreover, growing application of gene panels in diagnosis of rare genetic diseases or cancer, is estimated to boost the market growth. In addition to this, increasing incidences of cancer and genetic disorders are expected to boost the market growth.

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On the basis of geographical analysis, the global gene panel market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is estimated to garner the largest share over the forecast period on the back of presence of efficient biotechnology laboratories in the region, as a result of advancement in the healthcare system. Moreover, high government expenditure in healthcare sector is estimated to boost the market growth. According to other report by the World Health Organization (WHO), as of 2018, the per capita healthcare expenditure of North America valued USD 10,050.516.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rising Prevalence of Cancer Likely to Propel the Market Growth

According to the statistics by the World Health Organization (WHO), cancer caused approximately 10 million deaths in 2020.

Cancer is one of the most prominent cause of premature death, and can be treated by early diagnosis or monitoring. Gene panel can diagnose risk of cancer through genetic testing, which is estimated to boost the market growth.

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However, lack of health awareness in developing countries is expected to operate as key restraint to the growth of the global gene panel market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global gene panel market which includes company profiling of Illumina, Inc., Integrated DNA Technologies, Inc., BGI Group, Agilent Technologies, Inc., Eurofins Scientific, QIAGEN, GENEWIZ Japan Corp., Novogene Corporation, F. Hoffmann-La Roche AG, Personalis Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global gene panel market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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This release was published on openPR.