WASHINGTON, Jan. 12, 2022 (GLOBE NEWSWIRE) -- The Global Carrier Screening Market size is expected to reach over USD 7.56 Billion by 2028, exhibiting a CAGR of 17.3% during the forecast period.
Market Synopsis
Growth of the market can mainly be attributed to determinants such as growing emphasis on technological advancements and early disease detection in carrier screening. Growing awareness related to carrier screening is anticipated to provide a broad range of growth opportunities in the forecast period for players in the market, states Vantage Market Research, in a report, titled “Carrier Screening Market by Type (Expanded Carrier Screening, Targeted Disease Carrier Screening), by Technology (DNA Sequencing, Polymerase Chain Reaction, Microarrays, Others), by End User (Hospitals & Clinics, Reference Laboratories, Physician Offices, Others), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Carrier Screening Market:
- Invitae (US)
- Eurofins Scientific (US)
- Fulgent Genetics (US)
- OPKO Health (US)
- Quest Diagnostics (US)
- Myriad Genetics (US)
- Sema4 (US)
- Thermo Fisher Scientific (US)
- Illumina (US)
Market Dynamics:
Driver: Carrier Screening for Diseases
The early a disease is identified, the more probable it can be managed successfully or be cured. Treating the disease in its initial phase could also make it easier to live with. Disease detection in its initial phase helps people plan forward, while they are still capable to make key decisions with respect to their support and health needs and on legal and financial matters. Genetic diseases, like, sickle cell anaemia, cystic fibrosis, and Tay-Sachs disease, are disorders which are inherited. Carrier testing for these diseases can provide data about a risk of having a child for a couple with a genetic condition. Risk identification, prior to the beginning of symptoms, is called pre-symptomatic / predictive testing. Many disorders which are genetic can be diagnosed early during pregnancy. Therefore, the consumer demand for effective and safe carrier tests is driving the market growth. Furthermore, carrier tests adoption into normal clinical care provides a commercial benefit to the market.
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Driver: Rising Occurrence of Chromosomal Abnormalities
First time mother’s average age has been growing, especially in developed nations such as England, France, the U.S., Italy, Japan, and Germany. Financial stability, increase in literacy rates, and social determinants are key aspects for maternal age advancing. The risk of fatal chromosomal abnormalities is related directly to the rise in maternal age. This rise in average maternal age is likely to boost the chromosomal abnormalities incidence, leading to an increase in demand for carrier screening.
Regional Trends
North America is estimated to hold a substantial share of the market for carrier screening and is likely to show a similar share in the coming years, without substantial fluctuations. Diseases which are genetic is the leading factor of infant deaths in the U.S., accounting for over 18% of the total annual infant mortality, stated by WHO.
Technological platforms and advances in genomic medicine have made possible pan‐ethnic, low-cost, extended carrier screening which enables obstetric care health providers to provide screening for over 100 passive genetic diseases.
However, rapid assimilation of this genomic medicine into the regular obstetric practice has elevated some concerns about the implementation of carrier testing practically.
Important questions answered in this report:
- What is the estimated market size and growth rate of the Carrier Screening Market?
- Which segments are included in the Carrier Screening Market?
- Which top companies are active in the Carrier Screening Market?
- What are the major driving factors for the growth of the Carrier Screening Market?
- How can I get free sample reports or study of Carrier Screening Market?
Key Findings
- Expanded carrier screening to hold the largest market share: Based on type, the market for Carrier Screening is bifurcated into targeted disease carrier screening and expanded carrier screening. Expanded carrier screening is segmented into predesigned and customized panel testing. The expanded carrier screening held largest market share of the market in 2021 globally, due to upgradation in DNA sequencing, microarrays, polymerase chain reaction, and other technologies in the area of carrier screening. Additionally, rise in cases of genetic disorder is further facilitating the market growth for carrier screening.
- DNA sequencing to hold the largest market share: Based on technology, Carrier Screening Market is segmented into polymerase chain reaction, DNA sequencing, microarrays, and others. DNA sequencing led the market share in 2021, and is anticipated to remain as a leader in the coming years, due to upgradation in genetic analysis tools, like, assays on next-generation microarray and sequencing technologies, advancing the type for heritable diseases, and molecular diagnostics.
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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Carrier Screening Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2021 & 2022
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Carrier Screening Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
This market titled “Carrier Screening Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 2.21 Billion |
| Projected Market Size in 2028 | USD 7.56 Billion |
| CAGR Growth Rate | CAGR of 17.3% from 2022–2028 |
| Base Year | 2021 |
| Historic Years | 2016 – 2020 |
| Forecast Years | 2022 – 2028 |
| Segments Covered | Type:- Expanded Carrier Screening, Targeted Disease Carrier Screening Technology:- DNA Sequencing, Polymerase Chain Reaction, Microarrays End User:- Hospitals & Clinics, Reference Laboratories, Physician Offices |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Browse market data Tables and Figures spread through Pages and in-depth TOC on "Carrier Screening Market by Type (Expanded Carrier Screening, Targeted Disease Carrier Screening), by Technology (DNA Sequencing, Polymerase Chain Reaction, Microarrays, Others), by End User (Hospitals & Clinics, Reference Laboratories, Physician Offices, Others), by Regions (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Table of Content here – https://www.vantagemarketresearch.com/press-release/carrier-screening-market-673876
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