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Gene Panel Market by Product & Service, Technique, Design, Application & End User - Global Forecast to 2023

Gene Panel Market: Global Forecast until 2023

  • May 2018
  • 142 pages
  • ID: 5404723
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The overall gene panels market forecasted to grow at a CAGR (Compound annual growth rate) of 19.20 percent.

The overall gene panels market is forecasted to reach ~$3.0B by 2023 from ~$1.2B in 2018, at a compound annual growth rate (CAGR) of 19.20 percent. This industry is experiencing significant increase due growing prevalence of chronic diseases, increasing company initiatives (in terms of strategic partnerships, collaborations, and launches of new product), and increasing adoption of gene panels due to the benefits they offer. Nevertheless, issues associated to the security of genetic data and accuracy & standardization concerns in diagnostic testing are restricting the increase of this market

The testing services segment is expected to grow at the maximal compound annual growth rate (CAGR) during the outlook period.

Established on product & service, the sector is divided into test kits and testing services.The test services segment is expected to register the highest CAGR (Compound annual growth rate) during the estimate period.

Elements such as the rising focus of market actors on providing efficient gene panel services to researchers and the increasing number of government funding programs for genomic research are likely to drive the sector for gene panel testing services.

By application, the cancer risk assessment segment held the largest market share during the outlook period.

Established on applications, the sector is divided into cancer risk assessment, diagnosis of congenital diseases, pharmacogenetics, and other applications.The cancer risk assessment segment held the most important share of the gene panels market in 2018.

It is also expected to register the more considerable rise during the forecast period due to the growing incidence of cancer and the increasing demand for gene panels in analysis and diagnostics to apprehend the genetic variability of cancer.

North America to witness the more significant increase during the estimate period.

In 2018, North America continent is forecasted to account for the biggest share of the market succeeded by EU.North America (NA) is also estimated to register the highest compound annual growth rate (CAGR) during the outlook period.

This can be connected to Elements such as the government support for genomics research, presence of leading NGS providers, and increasing research on cancer and inherited rare diseases in the territory.

The primary interviews conducted for this business report can be categorized as follows:

• By Company category: Tier 1 - 30.0 percent; Tier 2 - 42.0 percent; Tier 3 - 28.0 percent

• By Description: C-level- 25.0 percent; D-level- 45.0 percent; Others- 30.0 percent

• By Area: North America continent - 48.0 percent; Europe (EU) - 29.0 percent; Asia Pacific (APAC) - 19.0 percent; Rest of the globe - 4.0 percent

List of firms decribed in the market research

• Illumina, Incorporated

• GENEWIZ, Incorporated

Segment Research

The industry report offers an overview of the gene panels market.It aims at evaluating the market value and upcoming growth potential of this market across distinct segments including product & service, technique, design, application, end-user, and area.

Moreover, the study also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, recent evolutions, and key industries strategies.

Main highlights

The analysis will facilitate the market top players/new sector entrants in this sector by providing them with the closest approximations of revenues for the global gene panels market and its sub-segments.This industry report will facilitate partners to comprehend the competitive landscape better and acquire business insights to position their businesses and help firms make suitable go-to-market approaches.

The market research will also assist partners comprehend the pulse of the sector and offer them with info concerning main market drivers and alternatives.

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