Genetic Testing Panels Market Growth, Trends and Value Chain 2018-2028

Posted by vakhas on January 29th, 2019

Genetic Testing Panels Market: Introduction

Genetic testing panels are one of the rapidly growing segments in the molecular diagnostics industry and help in delivering personalized medicine. With the help of genetic testing panels, people can learn about inherited mutations. Genetic testing panels were introduced to examine dozens of cancer genes in order to reduce the risk of cancer, as it is considered the leading cause of mortality and morbidity globally.

The sensitivity and specificity of the genetic testing panels vary depending on the characteristics of the cancer stage, heterogeneity, etc. Genetic testing panels make it possible to sequence, process and analyze large volumes of genes. Genetic testing panels use next-generation sequencing technology.

Genetic Testing Panels Market: Drivers and Restraints

The growth of the genetic testing panels market is majorly driven by increasing incidence and prevalence of a variety of cancer and genetic diseases. In addition, increasing government investments in research and development activities and awareness about genetic testing panels are also the prime factors projected to impel the growth of the global genetic testing panels market over the forecast period.

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However, factors such as complex regulatory framework, and scarcity of skilled professionals, among others are the major obstacles in the growth of the genetic testing panels market. Moreover, lack of sufficient information to guide the people in prevention strategies is expected to hamper the growth of the genetic testing panels market.

Genetic Testing Panels Market: Overview

The global market for genetic testing panels market is expected to witness significant growth over the forecast period. Presently, many genetic testing panels for cancer susceptibility are available in the market. Advancements in both research and technology around hereditary cancer have increased the adoption of genetic testing panels. The cost-effectiveness of genetic testing panels and less need of sequential testing also support the growth of the genetic testing panels market.

Genetic testing panels are advanced DNA screenings, which identify the specific genes and genetic mutations that can be related to major cancers.  Amongst all the end users of the genetic testing panels market, the research laboratory segment is expected to hold significant share in the global genetic testing panels market majorly due to increasing incidence of cancer cases.