Dublin, April 26, 2024 (GLOBE NEWSWIRE) -- The "Global Carrier Screening Market by Product and Service, Type (Expanded (Customized, Predesigned) Targeted Diseases), Medical Condition (Hematologic, Pulmonary), Technology (DNA Sequencing, PCR), End-user, and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Carrier Screening Market is expected to reach USD 5.4 billion by 2028 from USD 2.2 billion in 2023, at a CAGR of 19.7% during the forecast period.
Key drivers include an emphasis on early disease detection, rising genetic disorder prevalence, and increased preconception and prenatal testing. However, ethical concerns, high costs, and challenges like a lack of skilled professionals and standard guidelines hinder growth. Opportunities lie in emerging economies' reproductive health awareness, integration with telehealth, government initiatives, and rare disease screening focus. Notably, trends indicate a lack of public interest in expanded carrier screening.
The Neurological Conditions accounted for the second largest market share in the carrier screening market product's market, during the forecast period
Based on the Medical Conditions, Carrier Screening Market is classified into Hematologic Conditions, Pulmonary Conditions, Neurological Conditions, and Others. In 2022, Neurological Conditions accounted for a sizable market share because Many neurological disorders have a genetic component. Understanding the genetic basis of conditions such as Huntington's disease, amyotrophic lateral sclerosis (ALS), and certain forms of epilepsy can be crucial for assessing the risk of passing on these conditions to future generations. Likewise, Carrier screening for neurological conditions allows for early detection of genetic risk factors. Early identification of carriers provides an opportunity for individuals and couples to make informed reproductive decisions and consider interventions or therapies early in the planning stages.
PCR technology segment accounted for the second largest market share
Based on type on technology, the carrier screening market is segmented into DNA Sequencing, PCR, DNA Microarray, and Other. The PCR technology segment accounted for the second largest market share in 2022., due to its variety of applications such as PCR technology is known for its high sensitivity and specificity in amplifying and detecting specific DNA sequences. This accuracy is crucial in carrier screening to reliably identify carriers of genetic mutations associated with various disorders, likewise, PCR allows for the amplification of multiple target DNA sequences in a single reaction, a feature known as multiplexing.
APAC region accounted for the third highest CAGR
The global Carrier Screening market is divided into four regions: North America, Asia-Pacific, Europe, and Rest of the World. According to the regional analysis, the Asia-Pacific region is likely to retain a considerable market share in 2022 and the future. The Asia-Pacific market is being propelled by an rising cases of rare disease, rising in healthcare expenditure, rising in awareness about early disease diagnosis.
Europe is estimated to register the second highest CAGR during the forecast period
In this report, the Carrier Screening market is segmented into four major regional segments: North America, Europe, Asia Pacific, Rest of the world. The market in Europe is projected to register the second highest growth rate during the forecast period. The growth in this market is due to Europe has a strong tradition of research and academic excellence, the rising incidence of genetic and rare diseases, government funding for research and healthcare in many European countries supports the development and adoption of advanced diagnostic technologies such as carrier screening.
Research Coverage
This report studies the Carrier Screening market based on Product & Service, Type, Medical Condition, Technology, End User, and Region. The report also analyses factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total Carrier Screening market. The report forecasts the revenue of the market segments with respect to four major regions.
List of Companies Profiled
- Invitae Corporation (US)
- Fulgent Genetics (US)
- Eurofins Scientific (Germany)
- OPKO Health, Inc (US)
- Thermo Fisher Scientific Inc (US)
- Quest Diagnostics Incorporated (US)
- Myriad Genetics, Inc (US)
- Illumina, Inc (US)
- Natera, Inc (Italy)
- Laboratory Corporation of America Holdings (US)
- CENTOGENE N.V. (Germany)
- DiaSorin S.p.A. (Italy)
- BGI (China)
- Otogenetics (US)
- GeneTech (India)
- Signature Diagnostics Inc. (US)
- MedGenome (US)
- Ambry Genetics (US)
- Asper Biogene (Estonia)
- LifeLabs Genetics (Canada)
- EasyDNA (US)
- LifeCell (India)
- CNC Path Lab (India)
- Oxy-Gen Laboratory LLC (US)
- Mitera (US)
Key Attributes
| Report Attribute | Details |
| No. of Pages | 224 |
| Forecast Period | 2023-2028 |
| Estimated Market Value (USD) in 2023 | $2.2 Billion |
| Forecasted Market Value (USD) by 2028 | $5.4 Billion |
| Compound Annual Growth Rate | 19.7% |
| Regions Covered | Global |
Premium Insights
- Growing Prevalence of Genetic Disorders to Drive Market
- Predesigned Panel Testing Segment to Register Highest Growth During Forecast Period
- US and Products to Dominate North American Carrier Screening Market in 2023
- US to Register Highest Growth Rate During Study Period
Market Dynamics
- Drivers
- Increasing Emphasis on Early Disease Detection and Prevention
- Growing Prevalence of Genetic Disorders
- High Risk of Chromosomal Abnormalities with Advancing Maternal Age
- Increased Focus on Preconception and Prenatal Testing
- Rising Number of Fertility Clinics and IVF Centers
- Declining Rate of Fertility
- Restraints
- Ethical Concerns in Preconception Genetic Carrier Screening
- High Cost of Carrier Screening
- Opportunities
- Increased Awareness About Reproductive Health in Emerging Economies
- Integration with Telehealth and Digital Health Platforms
- Increased Number of Collaborations and Partnerships Among Healthcare Organizations
- Increasing Number of Government Initiatives and Policies Toward Genetic Health Improvement
- Growing Focus on Health Screening for Rare Diseases
- Challenges
- Lack of Skilled Professionals
- Lack of Standard Guidelines for Carrier Screening
- Trends
- Lack of Public Interest in Expanded Carrier Screening
For more information about this report visit https://www.researchandmarkets.com/r/sigydk
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