The gene panel market size is estimated to be USD 795.34 million in 2022 and is expected to witness a CAGR of 15.87% during the forecast period 2023-2033.  Rising incidence of hereditary diseases and cancer, the escalating demand for genetic testing, and the development of recommendations for genetic testing in order to take preventative measures to effectively lower the mortality rate are factors contributing to the market growth. Additionally, growing knowledge of clinicians regarding genetic tendency of any type of cancer or any other known genetic condition and surge in use of several pre-designed, customized gene panels and kits for genetic testing sold directly to consumers is projected to drive the market. However, concerns regarding security of data and lack of knowledge about gene panel is expected to hinder the growth.

Growing knowledge of clinicians regarding genetic tendency of any type of cancer or any other known genetic condition is predicted to propel the market. The Genetic and Rare Disease (GARD) Information Centre estimates that there are at least 7,000 genetic disorders that have been diagnosed, and the number is constantly rising. In the United States, at least 200,000 people have survived a genetic disease of some form. However, in the UK, where there are over 2.4 million people who have survived various genetic illnesses, at least 30,000 infants are diagnosed with genetic disorders every year. So that appropriate prognosis and therapeutic measures can be done as early as feasible, many gene panels are made to detect genetic diseases from birth.

Surge in use of several pre-designed, customized gene panels and kits for genetic testing sold directly to consumers is expected to fuel the market during the forecast period. For instance, the Infinium Custom Methylation Kit is a methylation microarray that can be customised and is only used for extensive, commercial target studies to comprehend methylation patterns. The kit can be modified to meet specific research needs. The market is anticipated to have considerable growth during the forecast period as a result of leveraged technical innovations, increased genetic level awareness, and moderated cost factors.

Segmentation

 By Product & Service

The market is categorized into testing services and test kits. In the global market, the test kits segment accounted for the largest revenue share in 2022 owing to the shifting towards self-utilitarian. Any laboratory personnel or laboratory setup with direct-to-consumer testing kits must meet a strict minimum standard. For instance, 23andMe offers more than 50 tests that can assess the risk of genetic disorders, and the company is approved by the FDA to do direct-to-consumer genetic testing. The Australian government is also well recognized for sending home test kits for particular cancer types directly to the targeted audience. Additionally, direct-to-consumer kits can be bought in North America, Europe, the Middle East and Africa, and Asia Pacific.

 By Technique

The market is divided into hybridization-based approach and amplicon-based approach. In 2022, the hybridization-based approach accounted for the highest revenue share due to its discovery, sequencing by hybridization has undergone extensive modifications to improve its accuracy. Numerous attempts have been made to develop techniques that increase the hybridization phase’s resilience to faults since the process is highly susceptible to hybridization errors in the spectrum. One of the developments increased the amount of information in the spectrum by predicting the locations of each of its parts in the target sequence.

 By Design

The market is categorized into customized gene panel and predesigned gene panel. In the global market, the customized gene panel segment accounted for the largest revenue share in 2022 owing to the fact that predesigned gene panels be used for consumer genetic testing to get a thorough examination as humans are still at the infancy of understanding genetic predisposition to any condition. For instance, using resources such as tissue, biopsy, or blood samples, the BGI SENTIS Lung Cancer Panel is capable of analysing over 20 genes with therapeutic implications for 42 targeted medicines and all types of genomic aberrations.

 By Application

The market is categorized into pharmacogenetics, cancer risk assessment, diagnosis of congenital diseases, and others. In 2022, the cancer risk assessment accounted for the highest revenue share due to increase in the incidence of cancer worldwide and the minimally invasive nature of gene panels. Gene panels can effectively replace several screening tests to identify genetic risk factors for many types of cancers because cancer screening is strongly advised for commonly occurring types of cancer in populations with inherited risk factors. For instance, The BGI SENTIS Lung Cancer Panel can evaluate more than 20 genes with therapeutic implications for 42 targeted drugs and all kinds of genetic aberrations using resources including tissue, biopsy, or blood samples.

By End User

The market is segmented into hospital & diagnostic laboratories, academic & research institutes, and pharmaceutical & biotechnology companies. In 2022, the academic & research institutes segment accounted for the largest revenue share owing to increasing prevalence of cancer and genetic disorders worldwide. Along with gene panels for cancer screening, pre-gestational, prenatal, and neonatal screening methods are steadily increasing their market penetration. For instance, the U.S. Medicare industry had to cover the expenses of 2.1 million genetic testing in 2019 a 235% rise from the prior years, according to data from the U.S. Department of Health & Human Services published in December 2021. Hospitals and diagnostic laboratories are expected to experience a substantial CAGR. The use of gene panels in hospitals and diagnostic facilities is expanding as a result of more widespread recommendations and national screening initiatives introduced by many nations across the world. For instance, Eurofins Genomics will support the mission “Our Future Health” in March 2022, the U.K.’s largest-ever health research programme, to help genotype five million people in order to produce a comprehensive understanding of the population’s health in the U.K., which is useful information for the prevention, diagnosis, and treatment of diseases.

Regional Markets

North America held the largest revenue share in the gene panel market in 2022, and it is predicted to continue to do so throughout the forecast period. This is due to increasing research studies. In the United States, gene panels are intended to detect a variety of genetic abnormalities, ideally using liquid biopsy or blood samples as a complement to the advised genetic screening with the help of machine learning. The National Cancer Institute (NCI), pharmaceutical industry titans, and academic research institutes around the country are jointly funding considerable research conducted at a number of research institutes, which is largely responsible for the market expansion. For instance, in January 2021, Gencove and BGI Americas Corporation announced the expansion of their partnership, which aimed to combine BGI’s sequencing assistance using proprietary DNBSEQ sequencing technology with Gencove’s evaluation interface in order to use high-capacity, reasonably priced whole genome data for useful tasks. Additionally, the rising incidence of cancer is invariably favourable for the market’s expansion.

Competitor Insights

Some of the key players operating in the gene panel market are Foundation Medicine, Inc., Qiagen Inc., Illumina Inc., Eurofins Genomics, Guardant Health, Inc., Agilent Technologies, Thermo Fisher Scientific, Myriad Genetic Laboratories Inc., Cepheid, Personalis, and Bio-Rad Laboratories, Inc.

The market’s leading competitors are concentrating on joint ventures, strategic alliances, and regional expansion in emerging and wealthy nations.

• For instance, Centogene N.V. announced in June 2022 that it was expanding its partnership with Agios Pharmaceuticals, Inc. to develop improved therapies for genetically diagnosed infirmities using PYRUKYND (mitapivat). The U.S. FDA approved PYRUKYND in February 2021 as a first-in-class, selective, small chemical activator of the pyruvate kinase enzyme.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product & service, technique, design, application, and end user from 2023 to 2033.

Report Scope:

Segmentation: Gene Panel Market Report 2022 – 2033

Product & Service (Revenue, USD Million), 2022 – 2033

• Testing Services
• Test Kits

Technique (Revenue, USD Million), 2022 – 2033

• hybridization-based Approach
• Amplicon-based Approach

Design (Revenue, USD Million), 2022 – 2033

• Customized Gene Panel
• Predesigned Gene Panel

Application (Revenue, USD Million), 2022 – 2033

• Pharmacogenetics
• Cancer Risk Assessment
• Diagnosis of Congenital Diseases
• Others

End user (Revenue, USD Million), 2022 – 2033

• Hospital & Diagnostic Laboratories
• Academic & Research Institutes
• Pharmaceutical & Biotechnology Companies

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA