Carrier Screening Market: Global Market Growth by Type, Medical Condition, Technology, End User and Region Forecast (2023 – 2029)

Carrier Screening Market expected to hit USD 5.19 Bn by 2029 from USD 2 Bn in 2022 at a CAGR of 14.6 % during the forecast period
Carrier Screening Market Overview
Carrier screening is a type of genetic test in the medical field, which tells whether a person is carrying a gene for certain genetic disorders. The test is carried out mostly before the pregnancy to know the chances of having a genetic disorder in the child. As they said, “Precaution is better than cure” so, the growing need to detect the disease early is the major factor that is expected to drive the Carrier Screening Market. The growing trend of using Next-generation Sequencing Technology is a lucrative opportunity for Carrier Screening Key Players to invest in Carrier Screening Market.

The cost of a Carrier Screening Test varies as per the complexity of the test, which might hamper the growth of the Carrier Screening Market. Recently, MedGenome, a genetic diagnostic company is adopting inorganic growth to grow their business in developing markets by partnering with other Carrier Screening Companies and advancing their Carrier Screening Solutions using artificial intelligence (AI) and machine learning (ML). The report has included all the important segments in the Carrier Screening Market and helps the client to understand the market.To know about the Research Methodology :- Request Free Sample Report
Carrier Screening Market Research Methodology
The report provides detailed data regarding the latest innovations and mergers and acquisitions happening in the market. The report involves the details of the Carrier Screening Key Players’ partnerships with local players in major geographic regions such as North America, Asia Pacific, Europe, Middle East and Africa and South America. The report analyses the market through Carrier Screening Key Companies’ market share and their gross income, recent developments and business strategies, which is expected to help Carrier Screening New Market Entrants.

The bottom-up approach was used to estimate the size of the Market by value and volume. Primary and secondary research methods were used to collect data. The data from interviews with market leaders and opinions from business owners and research analysts. Secondary data were gathered from annual reports of organizations and paid databases. Collected data was later analyzed by SWOT analysis, PORTER’s five force model, which includes drivers, restraints, opportunities and the competitive landscape in the Carrier Screening Market.
Carrier Screening Market Dynamics
Drivers:

Increased rate of genetic illness and disorders drives the demand for the Market. Also the growing consciousness regarding the benefits of early diagnosis of cystic fibrosis, Tay - Sachs disease and sickle cell anemia such genetic disorders. These factors are expected to create a lucrative opportunity for Carrier Screening Key Companies to invest in the Market.

The market has been growing due to the inorganic growth of the key players in the Market. Many companies are evaluating inorganic growth to increase their market share through mergers and collaborations and partnerships. The market growth is supported by the increased investment by key players in developing and poor resource countries to increase the efficiency of diagnosis in those regions and hold the largest market share.

1. The Carrier screening tests are cost-effective and provide accurate results as compared to traditional screening.

2. Growing concerns about the health of a future generation also driving the Carrier Screening Market.

3. Continuous improvements by key companies in the development of Carrier Screening Solutions.

4. Trends such as expanding carrier screening and next-generation sequencing is expected to drive the Carrier Screening Market.

Restraining Factors in Carrier Screening Market

Strict regulations in the approval of carrier screening tests and ethical concerns about their screening and confidentiality are expected to hinder the growth of the Carrier Screening Market. The report includes all aspects of the market and provides solutions. Lack of awareness about the screening tests and the high cost associated with carrier screening tests for complex DNA sequencing are limiting the growth of the market.
Carrier Screening Market Regional Insights
North America is expected to grow significantly at the highest CAGR of 11.9 percent to hold the largest share of the  Market during the forecast period (2023-2029). Recently, a study published in ‘Jama Network Open’ around 41 percent of infant deaths in the United States is related to genetic disease. The practical and accurate diagnosis of the genetic disorder with the help of expanded screening techniques and advanced solutions is the need of an hour in the United States. The federal government is promoting the Carrier Scanning Key Companies in the region to develop more advanced Carrier Screening Solutions. These factors have been driving the growth of the North America Carrier Screening Market.

A study published by BMC Medical Genetics on November 2, 2020, states that 26 percent of the North Indian population is found as a carrier of more than one genetic disorder. This is expected to increase the growth of the Carrier Screening Market. The increased expenditure of the developing economies on healthcare infrastructure has been driving the Asia Pacific market growth.

Carrier Screening Market Competitive Landscape

The market is highly fragmented and the report provides a detailed analysis of the Market Key Competitors based on their recent developments, business strategies and their solution penetration in the Carrier Screening Market. MedGenome is one of the leading company decided to grow their business by evaluating inorganic growth. On Feb 28, 2023, Fulgent Genetics launched the new Beacon787 expanded carrier screening panel, which is expected to provide an accurate option for carrier screening. Myriad Genetics and SimonMed Imaging announced their collaboration to advance the diagnosis with a new genetic screening risk management program. The report involves the competitive landscape of all the Market Key Competitors, which is expected to help new market entrants to develop their strategies accordingly.


Carrier Screening Market Segment Analysis:
The expanded Market segment dominated the market in 2022 and is expected to grow significantly during the forecast period. Expanded carrier screening looks for multiple carrier mutations that are possible practically and doesn’t make assumptions based on ethnicity or family history. This basic difference is driving the end users to completely rely on expanded carrier screening. Expanded carrier screening provides an accurate result in the diagnosis of genetic disorders. Expanded carrier screening uses Next-generation sequencing (NGS) and high-density microarrays technology platforms in the diagnosis of genetic disorders. These factors have been driving the growth of the expanded carrier screening segment in the Carrier Screening Market.

Based on end users, hospitals and clinics i.e. healthcare segment is expected to hold the largest revenue share in the  Market. As the main use of carrier screening is in the diagnosis of gene disorders, cancer patients and others.
Carrier Screening Market Scope: Inquire before buying



Carrier Screening Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
USD 2 Bn.


Forecast Period 2023 to 2029 CAGR:
14.6 %
Market Size in 2029:
USD 5.19 Bn.


 Segments Covered:
by Type
1. Expanded Carrier Screening
1. Customized Panel Testing
2. Predesigned Panel Testing
2. Targeted Disease Carrier Screening


by Medical Condition
1. Pulmonary Conditions
2. Hematological Conditions
3. Neurological Conditions
4. Other Conditions


by Technology
1. DNA Sequencing
2. Polymerase Chain Reaction
3. Microarrays
4. Others


by End User
1. Hospitals and clinics
2. Reference Laboratories
3. Physician Offices
4. Others



Carrier Screening Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Carrier Screening Market, Key Players are:
1. Fulgent Genetics Inc.
2. Illumina Inc.
3. Diasorin S.p.A.
4. Natera Inc.
5. Thermo Fisher Scientific Inc.
6. Eurofins Scientific
7. Myriad Genetics Inc.
8. Opko Health Inc
9. Quest Diagnostics Inc.
10. InVitae Corporation
11. Sena4
12. LabCorp
13. CENTOGENE
14. Luminex Corporation
15. BGI Genomics
16. Gene by Gene
17. Progenity
18. Otogenetics Corporation
19. Pathway Genomics
20. MedGenome
21. True Health
22. ZAI Lab
23. Azenta
24. Dante Labs
25. Ambry Genetics

Frequently Asked Questions:

1] What is the growth rate of the Market?
Ans. The  Market is growing at a CAGR of 14.6 % during the forecast period.

2] Which region is expected to dominate the  Market?
Ans. North America is expected to dominate the  Market during the forecast period from 2023 to 2029.

3] What is the expected  Market size by 2029?
Ans. The size of the Market by 2029 is expected to reach USD 5.19 Bn.

4] Who are the top players in the Market?
Ans. The major key players in the  Market are Azenta, Ambry Genetics, Pathway Genomics and BGI Genomics.

5] Which factors contributed to the growth of the  Market in 2022?
Ans. The  Market is expected to grow due to increased rate of gene disorders.