Originally published on Technavio: Forecast and Analysis of the Gene Panel Market 2023-2027

Overview:
The global gene panel market is projected to experience substantial growth, with an estimated increase of USD 3,236.87 million at a CAGR of 18.21% between 2022 and 2027. This growth is primarily driven by the rising adoption of gene panels in the development of targeted cancer therapies. Pharmaceutical companies are heavily investing in research on targeted therapies, leading to increased utilization of gene panel tests for evaluating effective cancer treatments. The report offers a comprehensive analysis of market drivers, trends, and challenges, alongside historical data from 2017 to 2021.

Gene Panel Market Size and Forecast:
Insights into the market size and forecast facilitate strategic decision-making for stakeholders.

Market Segmentation by Product, Technique, and Geography Analysis:
The report provides detailed analysis and insights into various segments of the gene panel market, aiding in understanding market dynamics and opportunities.

Product Analysis:
Small Panel Testing:
The small panel testing segment is anticipated to witness significant growth during the forecast period. This technique, also known as targeted gene panel testing, involves the simultaneous testing of specific genes linked to a particular genetic condition. The market has witnessed increased adoption of small panel testing due to the growing demand for identifying known gene mutations within families.

Technique Segment Analysis:
Amplicon sequencing, the largest segment in terms of market share, is a next-generation targeted sequencing method used to analyze genetic variation in specific genome regions. The simplicity and speed of amplicon sequencing, coupled with its high target ratio, contribute to its widespread adoption and expected growth in the global market.

Hybridization:
Hybridization, another next-generation target sequencing technique, involves converting DNA or RNA samples into sequencing libraries through hybridization. This technique, suitable for genotyping and detecting rare variants, is expected to witness significant growth, driven by its ability to detect multiple targets and its suitability for various research applications.

Regional Analysis:
North America is projected to contribute 43% to global market growth during the forecast period. Factors such as the availability of reimbursement policies for gene panel testing and the presence of numerous service providers offering a wide range of services drive market growth in the region.

COVID Recovery Analysis:
The market witnessed significant disruption due to the COVID-19 outbreak, but recovery began in 2021 with the initiation of vaccination drives and resumption of clinical trials and research activities. The increasing number of cancer patients is expected to further drive market growth in the region.

Market Dynamics and Customer Landscape:
Companies are employing various strategies such as alliances, partnerships, and mergers to enhance their market presence. The report includes detailed analyses of competitive landscapes and information about key market players.

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The report offers insights into market dynamics, including key drivers, trends, and challenges, along with analyses of the market's adoption lifecycle and key purchase criteria.
Market growth forecasts at global, regional, and country levels, along with analyses of growth trends and opportunities from 2017 to 2027, provide valuable insights for stakeholders.

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