The Global Gene Panel Market is projected to reach $7.33 billion by 2028, from a value of $2.15 billion in 2022, by registering a CAGR of 22.7% during the forecast period. Increasing prevalence of chronic diseases, rising adoption of genetic testing, increasing research and development activities by the market players, and rising number of company initiatives across the world coupled with benefits of gene panels are the major factors propelling the growth of the market. However, rising security concerns for the genetic data along with increasing stringent rules and regulations for the pharmaceutical companies are hampering market growth. Moreover, government initiatives in population sequencing, rising emerging markets, increasing technological advancements, and modernization in the healthcare techniques are creating ample opportunities across the globe.
Recent Developments
In September 2021, Agilent Technologies Inc. announced the agreement with Visiopharm, for worldwide distribution of CE-IVD, which is an artificial intelligence (AI)-driven precision pathology technology. This technology can be used for early diagnosis of cancer and other diseases.
In April 2021, Illumina and Kartos Therapeutics announced a new oncology partnership to co-develop a TP53 companion diagnostic (CDx) based on the content of Illumina’s comprehensive genomic profiling assay, TruSight™ Oncology 500 (TSO 500). With this partnership, Illumina will expand the TruSight Oncology offerings into hematologic malignancies.
In October, 2019, Qiagen signed a 15-year partnership with Illumina, to increase the supply of NGS-based in-vitro diagnostic (IVD) kits which includes companion diagnostics for management of patient care. This partnership will provide universal solutions for using the GeneReader NGS System and any sequencer for small gene panels.
In June 2018, Thermo Fisher Scientific introduced Ion AmpliSeq HD technology, for targeted next-generation sequencing (NGS) oncology and genetic research applications. The technology provides flexibility to clinical researchers to custom design gene panels without sacrificing the ultra-high sensitivity that is needed to find low-frequency variants in cell-free DNA (cfDNA) and highly heterogeneous solid tumour samples.
Competitive Landscape
Agilent Technologies, Thermo Fisher Scientific Inc., Qiagen, Illumina, Inc., F. Hoffmann-La Roche AG, Novogene Corporation, Eurofins Scientific, Genewiz, Inc., Integrated DNA Technologies, BGI Genomics, Personalis, Inc, ArcherDX, Inc., GATC Biotech AG, Bioneer Corporation, BioCat GmbH, and OriGene Technologies, Inc. are some of the major players in the global Gene Panel market.
