Market Trends of Gene Panel Industry
This section covers the major market trends shaping the Gene Panel Market according to our research experts:
Test Kits segment is Expected to Hold the Largest Market Share in the Gene Panel Market
- The dominant share is retained by the test kits segment owing to the attributes such as the rising advancement in technology over the last few years, which have opened up many opportunities for growth in the industry. The increase in the prevalence of chronic diseases and the production of tailor-made gene panel test kits for specialized therapeutic areas are aiding the exponential market growth.
- The growing emphasis on governing and raising awareness about these testing by governments in different countries has resulted in the rapid acceptance of these tests worldwide. The rising support for R&D, along with the strong market position of major market players, has created a strong entry channel for new market entrants.
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North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to maintain its supremacy in the overall gene panel market, throughout the forecast period. This is owing to factors such as the rising prevalence of chronic diseases in the region, technological advancement, and the domicile presence of major players in the region driving the growth and responsible for the dominance of the region. The excellently-established biotechnology industry coupled with rising awareness regarding advanced technologies among the population in this region and strong acceptance of developed diagnostics methods is also some of the key factors ensuring the dominance of the region.
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