Gene Panel Market – Emerging Technological Innovations | Global Industry Growth Dynamics

The report “Gene Panel Market by Product & Service, Technique (Amplicon, Hybridization), Design (Predesign, Custom), Application (Cancer, Congenital Disease, Pharmacogenetics) & End User (Hospital, Research Center, Pharmaceutical Companies) – Global Forecast to 2023″, The global gene panels market is expected to reach USD 2.95 Billion by 2023 from USD 1.22 Billion in 2018, at a CAGR of 19.2%.

The growth of this market is mainly driven by factors such as the increasing prevalence of chronic diseases, growing company initiatives, and growing adoption of gene panels owing to their benefits such as cost-efficiency and simplified the workflow.

The research and academic institutes segment is projected to grow at the highest CAGR during the forecast period.

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Based on end user, the market is segmented into research & academic institutes, hospital & diagnostic laboratories, and pharmaceutical & biotechnology companies. The research and academic institutes segment is expected to register the highest CAGR during the forecast period. This growth can be attributed to the increasing government funding programs across the globe and the focus of market players on providing efficient gene panels.

Target Audience for this Report:

NGS equipment manufacturers, vendors, and distributors
NGS sequencing services companies
# NGS bioinformatics/data analysis companies
Research institutes and government organizations
Venture capitalists and government funding organizations
Research and consulting firms
Healthcare institutions
Pharmaceutical and biotechnology companies
Contract manufacturing organizations
Contract research organizations

North America is expected to dominate the gene panels market in 2018

In 2018, North America is expected to hold the largest share of the gene panels market followed by Europe. The large share of this geographical segment is primarily attributed to the growing research on cancer and inherited rare diseases and the increasing number of NGS-based & clinical applications in the region. Other growth factors include government support for genomics research and the presence of leading NGS providers in this region.

Agreements, partnerships, joint ventures, and collaboration accounted for the largest share of the overall growth strategies followed by key players between 2015 and 2018.

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Some of the key players in the gene panels market include Illumina, Inc. (US), BGI (China), Agilent Technologies (US), Eurofins Scientific (US), QIAGEN (Germany), GENEWIZ, Inc. (US), ), Novogene Corporation (China), F. Hoffmann-La Roche AG (Switzerland), Integrated DNA Technologies (IDT) (US), GATC Biotech AG (GATC Biotech) (Germany), and ArcherDx (US).