The growth of this market is mainly driven by factors such as the increasing prevalence of chronic diseases, growing company initiatives, and growing adoption of gene panels owing to their benefits such as cost-efficiency and simplified the workflow.
Restraints:
# Issues Related to the Security of Genetic Data
Opportunities:
# Government Initiatives in Population Sequencing
# Growth Opportunities in Emerging Markets
Challenges:
# Accuracy and Standardization Concerns in Diagnostic Testing
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The test kits segment is expected to dominate the market in 2018
Based on product & service, the market is segmented into test kits and testing services. In 2018, test kits are expected to account for the largest share of the gene panels market. The growth in this market is mainly driven by the increasing demand for gene panels in research as well as diagnostics to understand the genetic variability of chronic disorders.
Based on technique, the amplicon-based approach segment is expected to dominate the market in 2018
Based on technique, the gene panels market is segmented into the amplicon-based approach and the hybridization-based approach. The amplicon-based approach segment is expected to dominate the market in 2018. This segment is also expected to register the highest growth rate during the forecast period due to the advantages associated with this approach, such as its rapidity, cost-efficiency, and low sample requirement.
The research and academic institutes segment is projected to grow at the highest CAGR during the forecast period.
Based on end user, the market is segmented into research & academic institutes, hospital & diagnostic laboratories, and pharmaceutical & biotechnology companies. The research and academic institutes segment is expected to register the highest CAGR during the forecast period. This growth can be attributed to the increasing government funding programs across the globe and the focus of market players on providing efficient gene panels.
North America is expected to dominate the gene panels market in 2018
In 2018, North America is expected to hold the largest share of the gene panels market followed by Europe. The large share of this geographical segment is primarily attributed to the growing research on cancer and inherited rare diseases and the increasing number of NGS-based & clinical applications in the region. Other growth factors include government support for genomics research and the presence of leading NGS providers in this region.
Read More Detailed Article on “Gene Panel Market – Global Forecast to 2023”, Here..!
The gene panel market is a fragmented market with the presence of several small and big players. Prominent players in this market include Illumina, Inc. (US), BGI (China), Agilent Technologies (US), Eurofins Scientific (US), QIAGEN (Germany), GENEWIZ, Inc. (US), Novogene Corporation (China), Personalis (US), Thermo Fisher Scientific (US), F. Hoffmann-La Roche AG (Switzerland), Integrated DNA Technologies (IDT) (US), GATC Biotech AG (GATC Biotech) (Germany), and ArcherDx (US).
Target Audience for this Report:
- NGS equipment manufacturers, vendors, and distributors
- NGS sequencing services companies
- NGS bioinformatics/data analysis companies
- Research institutes and government organizations
- Venture capitalists and government funding organizations
- Research and consulting firms
- Healthcare institutions
- Pharmaceutical and biotechnology companies
- Contract manufacturing organizations
- Contract research organizations
