Gene Panel Market: Global Opportunity Analysis and Industry Forecast 2023-2030 Market

Gene Panel test is used to analyze multiple genes at a single time for various cancer-associated mutations. Gene panels provide sequencing for a single gene like BRCA1 which is determined to be involved in disease risk, genome sequencing in the genome. Gene Panel allows in capturing all the relevant information for the process.

There are two major types in the Gene Panel Techniques:

• Targeted Gene Panel Testing
• Untargeted disease gene panel testing

Targeted Gene Panel Testing:

Targeted Gene Panel technique is used when specific genes are associated with a specific genetic condition is inspected simultaneously. These tests read the details coded in the exons. Targeted gene panels enlarged include hearing impairment, eye disorders, and epilepsy which are caused by various mutations in separate genes. 

Untargeted disease Gene Panel Testing:

Untargeted disease Gene Panel test covers the exons of all roughly 2600 genes related to the disease and their function. Untargeted disease Gene Panel Testing is done when many genes are required, such as intellectual disability, or where the selected panel has not disclosed a result for the family.

COVID-19 scenario analysis:

Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicines supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are short of these drugs. Owing to the demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future.
Owing to such factors, COVID 19 is expected to have a significant impact on the Gene Panel market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:

Increasing cancer cases of different types, which include cancer of ovaries, breast cancer, fallopian tubes, along with prostate cancer in men, increasing frequencies of chronic diseases all over the world are the major factors boosting the gene panel market. Additionally, a rising number of initiatives by different companies globally and other benefits of gene panels are the major factors favoring the gene panel market. 
On the other hand, strict policies and regulations by the government for pharmaceutical companies and protection issues about genetic data are the major challenges faced by the gene panel market and hampering the growth.

New product launches and acquisitions to flourish the market:

On October 7th, 2019, Qiagen signed a 15-year partnership with Illumina which helped to widen the availability and utilization of NGS-based in-vitro diagnostic (IVD) kits, which includes companion diagnostics for management of patient care.

On June 18th, 2018, Thermo Fisher Scientific introduced Ion AmpliSeq HD technology, which is a next-generation library preparation innovation.

Surge in usage in Pharmaceutical and Biotechnology Companies applications:

Biopharmaceutical and biotechnology companies have been investing in various R & D activities for the development of targeted therapies for cancer treatment. These companies are using the gene pane techniques for discovering new therapies for the cure of cancer.

Key benefits of the report:

• This study presents the analytical depiction of the global Gene Panel industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Gene Panel market share.
• The current market is quantitatively analyzed to highlight the global market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global Gene Panel market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the Gene Panel Market research report:

• What are the leading market players active in the Gene Panel market?
• What the current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?

 Gene Panel Market: Global Opportunity Analysis and Industry Forecast 2020–2027 Report Highlights