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Global Gene Panel Market Expected Expansion with a CAGR of Around 18% During the Forecast Period, 2020-2024 - ResearchAndMarkets.com

January 15, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Jan 15, 2020--

The “Gene Panel Market by Product and Geography - Forecast and Analysis 2020-2024” report has been added to ResearchAndMarkets.com’s offering.

Global Gene Panel Market: About this market

The 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.

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.

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY PRODUCT

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

PART 12: VENDOR LANDSCAPE

PART 13: VENDOR ANALYSIS

For more information about this report visit https://www.researchandmarkets.com/r/xlv30k

View source version on businesswire.com:https://www.businesswire.com/news/home/20200115005372/en/

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INDUSTRY KEYWORD: HEALTH GENERAL HEALTH

SOURCE: Research and Markets

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PUB: 01/15/2020 05:44 AM/DISC: 01/15/2020 05:44 AM

http://www.businesswire.com/news/home/20200115005372/en