The global Gene Panel Market size was estimated to be USD 3.51 billion in 2023 and is expected to reach USD 20.98 billion by 2034 with a CAGR of 17.66% during the forecast period 2024-2034. Rapid improvements in genomic technology, rising demand for genetic testing, increased R&D activities, government support and regulatory frameworks, and gene panel customization will all fuel market expansion.
Next-generation sequencing (NGS) and hybridization techniques are significantly enhancing the efficiency and accuracy of gene panels, making large-scale genetic testing more accessible and cost-effective. These innovations are driving widespread adoption across various sectors. Notably, in April 2023, Agilent Technologies, Inc. launched a new NGS assay intended for somatic variant profiling in a diverse range of solid tumors, which is expected to further advance precision oncology through comprehensive genomic profiling (CGP), ultimately contributing to more personalized and effective patient treatment strategies.
By product and services, the test kits segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to the increasing demand for rapid and accurate diagnostic tools, advancements in technology, and the rising prevalence of genetic disorders. For instance, in November 2023, MSD and Natera, Inc. signed a contract enabling MSD to access Natera's real-world database. About 100,000 cancer patients' clinical and genomic data are included in the database, which MSD plans to use to further oncology research. Additionally, the testing services segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for personalized medicine, advancements in genomic technologies, and increasing awareness of genetic testing among healthcare providers and patients.
By technique, the amplicon-based approach segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to its high sensitivity, specificity, and efficiency in detecting genetic variations. For instance, 10x Genomics introduced a 5,000-Plex Gene Panel for Xenium in March 2024. Based on the panel's great degree of customization, it is easier to focus on particular biology according to study needs. The creation of these panels is anticipated to encourage market segmentation. Additionally, the hybridization-based approach segment is predicted to grow at the fastest CAGR during the forecast period owing to its ability to allow simultaneous detection of multiple genetic targets with high accuracy and its increasing application in research and clinical diagnostics.
By design, the predesigned gene panel approach segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to its convenience, time efficiency, and ability to provide comprehensive genetic insights with established protocols for various diseases. For instance, at the American Association for Cancer Research (AACR) Annual Meeting in October 2023, Vizgen unveiled predesigned MERFISH Gene Panels in oncology and neuroscience. These panels are anticipated to aid in the research of the biology of human tumors and the investigation of the mouse brain, respectively. Additionally, the customized gene panel segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for personalized medicine and tailored therapeutic solutions that address specific genetic profiles and conditions.
By application, the cancer risk assessment segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to the rising incidence of cancer, growing awareness of genetic predisposition, and advancements in predictive genetic testing. For instance, new NGS panels from Twist Bioscience and Centogene were introduced in January 2023; these panels are expected to help with research related to hereditary cancer and enable sensitive detection of target genetic sequences. Additionally, the diagnosis of congenital diseases segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of congenital disorders and advancements in genetic testing technologies that enable early detection and intervention.
By end-user, the academic & research institutes segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to the growing focus on genomic research, increased funding for genetic studies, and the demand for advanced tools in academic settings. For instance, in February 2024, CooperSurgical and Fulgent Genetics launched the Cord Blood Registry, which offers a range of genetic testing options. These include the CBR Snapshot, CBR Portrait, and CBR Landscape tests, which can assist in screening children for a variety of diseases, such as cancer, cardiovascular disease, neonatal diabetes, and other conditions. Additionally, the pharmaceutical & biotechnology companies segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising investment in drug development, the increasing integration of genetic testing in clinical trials, and the demand for targeted therapies.
North American region is anticipated for the highest revenue share during the forecast period owing to the presence of advanced healthcare infrastructure, strong funding for research and development, and a high prevalence of genetic disorders. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to increasing investments in healthcare, rising awareness of genetic testing, and the growing prevalence of genetic diseases in the region. For instance, in May 2023, Unipath Specialty Laboratory in India developed the HRD Gene Panel using SOPHiA GENETICS technology, which is projected to assist advance the cancer genomics field.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Next-generation sequencing (NGS) and hybridization techniques are significantly enhancing the efficiency and accuracy of gene panels, making large-scale genetic testing more accessible and cost-effective. These innovations are driving widespread adoption across various sectors. Notably, in April 2023, Agilent Technologies, Inc. launched a new NGS assay intended for somatic variant profiling in a diverse range of solid tumors, which is expected to further advance precision oncology through comprehensive genomic profiling (CGP), ultimately contributing to more personalized and effective patient treatment strategies.
By product and services, the test kits segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to the increasing demand for rapid and accurate diagnostic tools, advancements in technology, and the rising prevalence of genetic disorders. For instance, in November 2023, MSD and Natera, Inc. signed a contract enabling MSD to access Natera's real-world database. About 100,000 cancer patients' clinical and genomic data are included in the database, which MSD plans to use to further oncology research. Additionally, the testing services segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising demand for personalized medicine, advancements in genomic technologies, and increasing awareness of genetic testing among healthcare providers and patients.
By technique, the amplicon-based approach segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to its high sensitivity, specificity, and efficiency in detecting genetic variations. For instance, 10x Genomics introduced a 5,000-Plex Gene Panel for Xenium in March 2024. Based on the panel's great degree of customization, it is easier to focus on particular biology according to study needs. The creation of these panels is anticipated to encourage market segmentation. Additionally, the hybridization-based approach segment is predicted to grow at the fastest CAGR during the forecast period owing to its ability to allow simultaneous detection of multiple genetic targets with high accuracy and its increasing application in research and clinical diagnostics.
By design, the predesigned gene panel approach segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to its convenience, time efficiency, and ability to provide comprehensive genetic insights with established protocols for various diseases. For instance, at the American Association for Cancer Research (AACR) Annual Meeting in October 2023, Vizgen unveiled predesigned MERFISH Gene Panels in oncology and neuroscience. These panels are anticipated to aid in the research of the biology of human tumors and the investigation of the mouse brain, respectively. Additionally, the customized gene panel segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for personalized medicine and tailored therapeutic solutions that address specific genetic profiles and conditions.
By application, the cancer risk assessment segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to the rising incidence of cancer, growing awareness of genetic predisposition, and advancements in predictive genetic testing. For instance, new NGS panels from Twist Bioscience and Centogene were introduced in January 2023; these panels are expected to help with research related to hereditary cancer and enable sensitive detection of target genetic sequences. Additionally, the diagnosis of congenital diseases segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of congenital disorders and advancements in genetic testing technologies that enable early detection and intervention.
By end-user, the academic & research institutes segment accounted for the highest revenue-grossing segment in the global gene panel market in 2023 owing to the growing focus on genomic research, increased funding for genetic studies, and the demand for advanced tools in academic settings. For instance, in February 2024, CooperSurgical and Fulgent Genetics launched the Cord Blood Registry, which offers a range of genetic testing options. These include the CBR Snapshot, CBR Portrait, and CBR Landscape tests, which can assist in screening children for a variety of diseases, such as cancer, cardiovascular disease, neonatal diabetes, and other conditions. Additionally, the pharmaceutical & biotechnology companies segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising investment in drug development, the increasing integration of genetic testing in clinical trials, and the demand for targeted therapies.
North American region is anticipated for the highest revenue share during the forecast period owing to the presence of advanced healthcare infrastructure, strong funding for research and development, and a high prevalence of genetic disorders. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to increasing investments in healthcare, rising awareness of genetic testing, and the growing prevalence of genetic diseases in the region. For instance, in May 2023, Unipath Specialty Laboratory in India developed the HRD Gene Panel using SOPHiA GENETICS technology, which is projected to assist advance the cancer genomics field.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product and Services, Technique, Design, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Gene Panel Market Report 2023 - 2034
Gene Panel Market Analysis & Forecast by Product and Service 2023 - 2034 (Revenue USD Bn)
- Test Kits
- Testing Services
Gene Panel Market Analysis & Forecast by Technique 2023 - 2034 (Revenue USD Bn)
- Amplicon-Based Approach
- Hybridization-Based Approach
Gene Panel Market Analysis & Forecast by Design 2023 - 2034 (Revenue USD Bn)
- Predesigned Gene Panel
- Customized Gene Panel
Gene Panel Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Cancer Risk Assessment
- Diagnosis of Congenital Diseases
- Pharmacogenetics
- Other Applications
Gene Panel Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Academic & Research Institutes
- Hospital & Diagnostic Laboratories
- Pharmaceutical & Biotechnology Companies
Gene Panel Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Gene Panel Market: Product and Services Estimates & Trend Analysis
8. Gene Panel Market: Technique Estimates & Trend Analysis
9. Gene Panel Market: Design Estimates & Trend Analysis
10. Gene Panel Market: Application Estimates & Trend Analysis
11. Gene Panel Market: End-user Estimates & Trend Analysis
12. Regional Market Analysis
13. North America Gene Panel Market
14. Europe Global Gene Panel Market
15. Asia Pacific Global Gene Panel Market
16. Latin America Global Gene Panel Market
17. MEA Global Gene Panel Market
18. Competitor Analysis
19. Company Profiles
Companies Mentioned
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Roche Diagnostics
- Agilent Technologies Inc.
- QIAGEN N.V.
- F. Hoffmann-La Roche Ltd.
- Genoa Healthcare LLC
- Becton
- Dickinson and Company
- Myriad Genetics Inc.
- Invitae Corporation
- 23andMe Inc.
- Guardant Health Inc.
- Foundation Medicine Inc.
- Genomic Health Inc.
- Asuragen Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | December 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 3.51 Billion |
| Forecasted Market Value ( USD | $ 20.98 Billion |
| Compound Annual Growth Rate | 17.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
