The global gene panel market at a CAGR of about 18% during the forecast period
NEW YORK, Dec. 31, 2019 /PRNewswire/ --
Global Gene Panel Market: About this market
This gene panel market analysis considers sales from small panel testing and large panel testing products. Our study also finds the sales of gene panels in Asia, Europe, North America, and ROW. In 2019, the small panel testing segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising need to identify a known gene mutation will play a significant role in the small panel testing segment to maintain its market position. Also, our global gene panel market report looks at factors such as the growing use of gene panels in cancer-targeted therapies, increasing the number of people with genetic disorders, and decreasing the cost of NGS gene panel tests. However, challenges in implementing large NGS gene panels, lack of effective treatment for several genetic mutations, and the growing complexity of gene panel tests may hamper the growth of the gene panel industry over the forecast period.
Read the full report: https://www.reportlinker.com/p05835631/?utm_source=PRN
Global Gene Panel Market: Overview
Growing use of gene panels in cancer-targeted therapies
Pharmaceutical companies are investing heavily in research activities to develop targeted therapies for the treatment of cancer. This is driving the demand for gene panels as they are used in the development of targeted therapies for cancer. Gene panel testing provides a wide range of benefits such as providing the genetic basis of an individual's response to therapy. NGS-based gene panel tests are becoming popular as the first choice for cancer care as they are cost-effective, provide genomic data in a brief time, and examine only clinically important genes. This is driving the use of gene panels to evaluate effective treatments for cancer, which will lead to the expansion of the global gene panel market at a CAGR of about 18% during the forecast period.
Rising use of direct-to-consumer tests
The global gene panel market is expected to benefit from the increase in the use of direct-to-consumer tests. In this method, commercial laboratories provide genetic testing directly to consumers without the involvement of a healthcare professional or an authorization for payment by a third-party payer. The easy access and the increasingly affordable options associated with direct-to-consumer genomic testing have helped the technique gain significant popularity over the recent years. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of a few major players, the global gene panel market is concentrated. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading gene panel manufacturers, that include Agilent Technologies Inc., ArcherDx Inc., BGI Genomics Co. Ltd., Eurofins Scientific SE, F. Hoffmann-La Roche Ltd., GENEWIZ Inc., Novogene Corp., Personalis Inc., QIAGEN NV, and Thermo Fisher Scientific Inc.
Also, the gene panel market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05835631/?utm_source=PRN
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