Agreements, partnerships, joint ventures, and collaboration accounted for the largest share of the overall growth strategies followed by key players between 2015 and 2018.

Some of the key players in the Gene Panels Market include Illumina, Inc. (US), BGI (China), Agilent Technologies (US), Eurofins Scientific (US), QIAGEN (Germany), GENEWIZ, Inc. (US), ), Novogene Corporation (China), F. Hoffmann-La Roche AG (Switzerland), Integrated DNA Technologies (IDT) (US), GATC Biotech AG (GATC Biotech) (Germany), and ArcherDx (US).

The global gene panels market is expected to reach USD 2.95 Billion by 2023 from USD 1.22 Billion in 2018, at a CAGR of 19.2%. Increasing prevalence of chronic diseases and growing company initiatives are some of the major factors responsible for driving this market.

Illumina led the global gene panel test kit market in 2017, it is a well-established company and one of the leading brand names in the market. The leading position of the company can be attributed to its exhaustive product portfolio and strong geographic presence. The company focuses on organic as well as inorganic growth strategies to enhance its market position, such as agreements, partnerships, and collaborations that allow it to access the capabilities of complementary businesses and expand geographically. In the last three years, Illumina collaborated with companies such as Thermo Fisher Scientific (2018), Pensabio (2015), and Amoy Diagnostics Co. Ltd. (2015).

Thermo Fisher Scientific is the second-largest player in the gene panel test kits market in 2017. The company adopts organic and inorganic growth strategies to enhance its market share. It is an innovation-centric company and invests heavily in R&D. For example, it spent 4.4% of its revenue in 2017 of R&D activities. This high R&D investment helps the company to introduce and upgrade its products in the market. Some products launched by the company recently are the Ion AmpliSeq On-Demand (2017) and Ion Torrent AmpliSeq RNA Fusion Lung Cancer Research Panel (2015). Product launches help the company to stay current in the market and provide innovative solutions to its end users.

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Major Industry Growth Drivers:
# Increasing Prevalence of Chronic Diseases
# Growing Company Initiatives
# Benefits of Gene Panels

Major Growth Restraints:
# Issues Related to the Security of Genetic Data

Global Growth Opportunities:
# Government Initiatives in Population Sequencing
# Growth Opportunities in Emerging Markets

Challenges:
# Accuracy and Standardization Concerns in Diagnostic Testing

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.

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

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Scope of the Report:
This report categorizes the gene panel market into following segments and sub-segments:

by Product & Service:

• Test Kits
• Testing Services

by Technique:

• Amplicon-based Approach
• Hybridization-based Approach

by Design:

• Predesigned Gene Panel
• Customized Gene Panel

by Application:

• Cancer Risk Assessment
  • Syndrome-specific
  • High-penetrance
  • High and Moderate-penetrance
  • Comprehensive Cancer Risk
• Diagnosis of Congenital Diseases
• Pharmacogenetics
• Other Applications

by End User:

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

by Region:

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • RoE
• Asia Pacific
• Rest of the World (RoW)