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.
The objectives of this study are as follows:
# To define, describe, and forecast the global gene panel market by product & service, technique, design, application, end user, and region
# To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for the key players
# To forecast the size of the market with respect to five regions: North America, Europe, Asia Pacific, and the Rest of the World
# To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
# To track and analyze competitive developments in the gene panel market, such as agreements, collaborations, acquisitions, product launches, expansions, and R&D activities
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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).
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.
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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