New York, April 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Carrier Screening Global Market Report 2023" - https://www.reportlinker.com/p06450944/?utm_source=GNW
, Myriad Genetics Inc., Eurofins Scientific SE, OPKO Health Inc., Quest Diagnostics Inc., Luminex Corporation, BGI Genomics, Gene by Gene, OME Care, MedGenome Inc., and Otogenetics Corporation.
The global carrier screening market is expected to grow from $2.03 billion in 2022 to $2.38 billion in 2023 at a compound annual growth rate (CAGR) of 17.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The carrier screening market is expected to grow to $4.30 billion in 2027 at a CAGR of 15.9%.
The carrier screening market includes revenues earned by entities by providing customized panel testing and predesigned panel testing.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Carrier screening refers to a type of genetic test that can determine if there is a gene that causes certain genetic illnesses. The carrier screening is used to identify people who have one copy of a gene mutation that produces a hereditary illness when two copies are present.
North America was the largest region in the carrier screening market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the carrier screening report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of carrier screening are expanded carrier screening and targeted disease carrier screening.Expanded carrier screening provides carrier screening for multiple autosomal and X-linked recessive disorders, facilitated by new genetic testing technologies, and allows testing of individuals regardless of ancestry or geographic origin.
The products and services are service and product.The medical conditions are pulmonary conditions, hematological conditions, neurological conditions, and other medical conditions.
The technologies involved DNA sequencing, polymerase chain reaction, microarrays, and other technologies. The various end users included hospitals, reference laboratories, physician offices and clinics, and other end users.
An increase in fetal chromosomal abnormalities and genetic disorders is expected to propel the growth of the carrier screening market going forward.Fetal chromosomal abnormalities refer to a fetus with an abnormal number of chromosomes, an abnormal quantity of DNA inside a chromosome.
Prenatal testing for chromosomal abnormalities is intended to provide an accurate assessment of a patient’s risk of carrying a fetus with a chromosomal disorder.For instance, in February 2022, according to estimates by the World Health Organization, a Switzerland-based global health agency, birth defects cause 240 000 newborns to pass away in the first 28 days of life each year.
An additional 170,000 children between the ages of 1 month and 5 years die as a result of birth defects.Moreover, in March 2022, according to an article published by the Government of United Nations, Down syndrome is estimated to affect 1 in 1,000 to 1 in 1,100 live births worldwide.
Every year, between 3,000 and 5,000 children are born with this chromosome disorder. Therefore, an increase in fetal chromosomal abnormalities and genetic disorders is driving the growth of the carrier screening market.
Technological advancements are a key trend gaining popularity in the carrier screening market.Major companies operating in the carrier screening market are focused on developing new technological solutions to strengthen their position.
For instance, in July 2020, NIPD Genetics, a Cyprus-based biotechnology company, released Adventia, a broader carrier screening test for anyone or a couple interested in learning if they are a carrier of a genetic disease.Adventia is a safe, reliable, and exclusive test for up to 229 X-linked and autosomal recessive illnesses that offer healthcare professionals and individuals significant genetic insight and information about their reproductive possibilities.
Adventia consists of three panels: (a) Focus Panels, which give the option to test one of six moderate-to-severe, high-frequency monogenic diseases; (b) the Guidelines-Based Panel, which includes all diseases in the Focus Panels and tests for 19 diseases with high carrier frequency; and (c) the Comprehensive Panel, which includes all diseases in the Guidelines-Based Panel and tests for a total of 229 diseases with a clearly defined phenotype and high cumulative frequency.
In May 2022, Sema4 OpCo Inc., a US-based firm providing patient-focused health intelligence, acquired GeneDx LLC for $623 million. The acquisition is expected to establish Sema4 as one of the biggest and most sophisticated genomic testing companies in the United States and increase its health information database, which will alter patient care and advance therapeutic research. GeneDx LLC is a US-based company operating in analysis for rare disorders and genomic testing.
The countries covered in the carrier screening market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The carrier screening market research report is one of a series of new reports that provides carrier screening market statistics, including carrier screening industry global market size, regional shares, competitors with a carrier screening market share, detailed carrier screening market segments, market trends and opportunities, and any further data you may need to thrive in the carrier screening industry. This carrier screening market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06450944/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
