Gene Panel Market Anticipated To Witness Robust Growth, Surpassing 4.36 Billion By 2029

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What Is the Current Gene Panel Market Size and Its Estimated Growth Rate?
In recent years, there has been significant growth in the gene panel market size. It is projected to increase from a value of $2.14 billion in 2024 to $2.48 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 15.5%. Several factors can explain this historical growth, including an uptick in hereditary disorders, a greater need for genetic screening, intensified research and development activities, a rise in congenital diseases, and a growing demand for improved treatment solutions.

The market size of the gene panel is anticipated to experience a fast-paced expansion in the upcoming years. It's projected to escalate to $4.37 billion by 2029, with a compound annual growth rate (CAGR) of 15.3%. The propelling factors for this growth during the forecast period are a rise in chronic diseases, surge in cancer instances, growing awareness about genetic testing, and increased government actions and expenditure in TH*Care. Significant trends anticipated during the forecasting period include advancements in gene panel technology, strategic partnerships, personalized therapies, incorporation of artificial intelligence, and innovative bioinformatics tools.

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How Are Emerging Segments Shaping the Gene Panel Market Landscape?
The gene panel market covered in this report is segmented -

1) By Product And Services: Test Kits, Testing Services
2) By Technology: Amplicon-Based, Hybridization-Based, Other Technologies
3) By Design: Predesigned Gene Panel, Customized Gene Panel
4) By Application: Cancer Risk Assessment, Diagnosis Of Congenital Diseases, Pharmacogenetics, Other Applications
5) By End-User: Research Institutes, Hospital, Diagnosis Centers, Pharmaceutical Companies, Other End-Users

Subsegments:
1) By Test Kits: Predesigned Gene Panels, Customized Gene Panels
2) By Testing Services: Cancer Risk Assessment Panels, Pharmacogenetic Testing Panels, Neurological Disorder Panels, Cardiovascular Disease Panels, Rare Disease Panels

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Which Growth Factors Are Influencing Gene Panel Market Expansion?
The escalating incidences of cancer are anticipated to spur the expansion of the gene panel market. Cancer, a set of diseases marked by the unregulated growth and spread of abnormal cells, has the ability to invade and cause damage to adjacent tissues and organs. The rise in cancer cases is due to factors such as older populations, changes in lifestyle, exposure to environmental factors, and advancement in detection and diagnostic technologies. Gene panels contribute immensely to cancer management by facilitating thorough genetic testing. This assists in identifying mutations and alterations in specific genes, providing a path for personalized treatment approaches and bettering cancer patient outcomes. For example, the World Health Organization, a Switzerland-based intergovernmental organization, reported in February 2024 that approximately 9.7 million people succumbed to cancer in 2022, and 20 million new cases were reported. Lung cancer, with 2.5 million new cases, constituted 12.4% of all new cases, hence being the most prevalent cancer globally. Therefore, the surge in cancer incidences is stimulating the expansion of the gene panel market.

Who Are the Dominant Players Across Different Gene Panel Market Segments?
Major companies operating in the gene panel market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Quest Diagnostics Inc., Intermountain TH*Care, Eurofins Scientific SE, Agilent Technologies Inc., Illumina Inc., Qiagen Inc., OPKO Health Inc., Myriad Genetics Inc., Guardant Health Inc., Invitae Corp., Integrated DNA Technologies Inc., Bio-Rad Laboratories Inc., Novogene Corporation, Fulgent Genetics Inc., MedGenome Inc., OriGene Technologies Inc., Centogene AG, Blueprint Genetics Inc., BIONEER Corporation, BGI Group Ltd., Vizgen Inc., Primbio Research Institute LLC

What Are the Major Trends Shaping the Gene Panel Market?
Leading businesses in the gene panel market are centering their efforts on creating cutting-edge technologies, like oncology panels, to improve the precision, efficacy, and comprehensiveness of cancer diagnosis and individualized treatment plans. Oncology panels are unique gene panels designed to examine numerous genes linked with cancer, helping detect genetic mutations and changes which contribute to the diagnosis, prognosis, and treatment of the disease. For example, in May 2023, U.S. biotech firm Vizgen Inc., introduced the MERFISH PanCancer Pathways Panel, offering an adaptable solution for researchers stepping into the realm of spatial genomics. These ready-made panels are formulated for a range of research applications, such as cancer research, and they are honed for improved error robustness, ensuring consistent and repeatable outcomes. By amalgamating spatial data with gene expression information, the panels yield more profound insights into tumor environments and cellular interaction, thereby paving the way for more focused and personalized cancer studies and therapeutic advancements. This introduction marks a noteworthy stride forward in spatial biology, granting researchers the ability to examine intricate biological structures with an unprecedented level of detail.

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Which Geographic Regions Are Expected to Dominate the Gene Panel Market in the Coming Years?
North America was the largest region in the gene panel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gene panel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Gene Panel Market?
2. What is the CAGR expected in the Gene Panel Market?
3. What Are the Key Innovations Transforming the Gene Panel Industry?
4. Which Region Is Leading the Gene Panel Market?

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