The global Carrier Screening Market is estimated to be valued at US$1.9 billion in 2021 and is expected to exhibit a CAGR of 13.8% over the forecast period 2021-2031, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Carrier screening is a genetic testing process that helps to identify individuals who carry a gene mutation for a genetic disorder. This screening can help individuals make informed decisions about family planning and reproductive choices. The advantage of carrier screening is early detection and prevention of genetic disorders in offspring. With the increasing prevalence of genetic disorders and the growing awareness about carrier screening, the market is expected to witness significant growth. The need for carrier screening products and services is driven by the increasing demand for personalized medicine and advancements in technology that have made genetic testing more accessible and affordable.
Market Key Trends:
One key trend in the carrier screening market is the integration of advanced technologies such as next-generation sequencing (NGS) and bioinformatics. NGS allows for the simultaneous analysis of multiple genes, providing more comprehensive and accurate results. Bioinformatics tools help in the analysis and interpretation of complex genomic data, improving the efficiency and accuracy of carrier screening tests. Integration of these technologies in carrier screening products and services is expected to enhance the accuracy and reliability of genetic testing, driving the market growth.
Another key trend is the increasing focus on expanding the carrier screening panel for a wider range of genetic disorders. As more genetic mutations associated with various disorders are discovered, companies are expanding their screening panels to include these mutations. This allows for more comprehensive screening and early detection of a wider range of genetic disorders. Additionally, advancements in testing methodologies and the availability of high-throughput platforms have made it easier to include a larger number of genetic mutations in carrier screening panels.
Overall, the carrier screening market is expected to witness high growth due to the increasing prevalence of genetic
PEST Analysis:
Political: The political factors influencing the carrier screening market include government regulations and policies regarding genetic testing and screening. These regulations can impact the accessibility and affordability of carrier screening tests, as well as the approval and licensing process for companies in the market.
Economic: The economic factors affecting the carrier screening market include the overall healthcare expenditure, insurance coverage, and reimbursement policies for genetic testing. Higher healthcare expenditure and favorable reimbursement policies can drive the adoption of carrier screening tests, while budget constraints and limited insurance coverage can hinder market growth.
Social: The social factors influencing the carrier screening market include the awareness and acceptance of genetic testing among individuals and healthcare providers. Increasing awareness about the benefits of carrier screening, as well as changing societal attitudes towards genetic testing, can contribute to market growth.
Technological: The technological factors affecting the carrier screening market include advancements in genetic testing technologies, such as next-generation sequencing and microarray-based tests. These technological advancements have led to increased accuracy, efficiency, and affordability of carrier screening tests, thereby driving market growth.
Key Takeaways:
The Global Carrier Screening Market Demand is expected to witness high growth, exhibiting a CAGR of 13.8% over the forecast period of 2021-2031. This growth can be attributed to several factors. Firstly, the increasing prevalence of genetic disorders and the growing demand for early detection and prevention are driving the adoption of carrier screening tests. Additionally, advancements in genetic testing technologies have made carrier screening more accessible and cost-effective, further contributing to market growth.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the carrier screening market. This can be attributed to the presence of well-established healthcare infrastructure, favorable reimbursement policies, and higher awareness about genetic testing among healthcare providers and individuals. The region also has a high prevalence of genetic disorders, which further fuels the demand for carrier screening tests.
Key players operating in the carrier screening market include Invitae Corporation, Thermo Fisher Scientific, Quest Diagnostics, Sema4, Myriad Genetics, Inc., Illumina, Inc., Fulgent Genetics, Gene by Gene, CENTOGENE N.V., QIAGEN, Eurofins Scientific, Luminex Corporation, Medgenome, and others. These key players play a crucial role in driving market growth through their product offerings, partnerships, and collaborations. They leverage their expertise in genetic testing technologies to develop and launch innovative carrier screening tests and expand their market presence.
Overall, the carrier screening market is expected to experience significant growth in the coming years, driven by factors such as increasing awareness, technological advancements, and favorable regulatory frameworks. The market will continue to evolve and innovate, providing opportunities for key players to establish a strong foothold and cater to the growing demand for carrier screening tests.
Global Carrier Screening Market Research Report, by Product & Service (Services and Products), Type, Medical Condition Technology, End-User and Region - Forecast till 2027Market SynopsisGlobal Carrier Screening Market 2020 is poised to hold a value of about USD 4.20 billlion by 2025 and is slated to mature at a CAGR of 16.8% from 2019 to 2025.Market HighlightsThe key driving factor in the growth of the carrier screening market is the growing research and development operation and the introduction of carrier screening products for genetic disease testing.
Demand development for carrier screening items is boosted by the increased launch of items.
The increase in recognition and the number of persons with genetic abnormalities results in the need for screening testing for carriers.In order to diagnose foetal defects, businesses working in the global carrier screening industry mainly follow the next generation sequencing (NGS) strategy.
Manufacturers are making continuous efforts to upgrade the current technology and implement a new revolutionary technology in the market.
Latest developments in genetic science have catapulted carrier screening solutions from gene-by-gene testing to panels covering several diseases at one time.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/8755 SegmentationBased on product & service, form, medical condition, technology, and end users, the Global Carrier Screening Market has been segmented.The goods & service-based business has been separated into goods and services.
It is projected that the extended carrier screening category will have the highest market share throughout the forecast period.The industry is segmented into respiratory disorders, haematological disorders, neurological conditions, and others dependent on medical conditions.The market has been segmented into polymerase chain reaction, microarrays, and others by technology.The industry is segmented into hospitals, reference labs, medical offices, and clinics, among others dependent on end-users.Regional OverviewThe Americas holds the largest market share in the global carrier screening market.
Market HighlightsAccording to MRFR analysis, the Global Carrier Screening Market is expected to register a CAGR of 16.8% during the forecast period of 2019 to 2025 and is anticipated to reach USD 4,200 Million by 2025.The growth of the global carrier screening market is driven by various factors, such as the increasing launch of carrier screening products and growing numbers of players involved in the development of new carrier screening technologies.
In addition, the rising awareness program about genetic disorders supports the market growth during the forecasted period.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/8755However, the lack of skilled professionals and accuracy issues of carrier screening products may hamper market growth.Regional AnalysisThe market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The high occurrence of inherited diseases such as sickle cell anemia, X linked disorders and among other disorders in the US is one of the reasons for the growth of the market in the country.
The Western European market has further been divided as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The carrier screening market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific.
The carrier screening market in the Middle East & Africa has been divided into the Middle East and Africa.SegmentationThe Global Carrier Screening Market has been segmented based on Product & Service, Type, Medical Condition, Technology, and End Users.The market, based on product & service, has been divided into products and services.
