Carrier Screening Market in terms of revenue was estimated to be worth $2.2 Billion in 2023 and is poised to reach $5.4 Billion by 2028, growing at a CAGR of 19.7% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The expansion of this market is majorly due to the development and availability of expanded carrier screening panels that cover a wide range of genetic conditions contribute to the market’s growth. Comprehensive panels offer more thorough assessments, and healthcare providers adopt them to provide more extensive genetic information to patients. However, Despite efforts to increase awareness, many individuals and healthcare professionals may still have limited knowledge about the availability and importance of carrier screening. Lack of awareness can contribute to underutilization of carrier screening services which may inhibit the growth of this market.
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Key Market
The major players in the Carrier Screening Assays Market are 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), and DiaSorin S.p.A.(Italy)
DRIVER: the increasing prevalence of genetic disorders
The rising prevalence and awareness of genetic diseases contribute significantly to the growth and demand in the carrier screening market. Carrier screening is a crucial tool for identifying individuals who carry a single copy of a gene mutation associated with a specific genetic disorder.
There are an estimated 10,000 different types of single-gene diseases (also called monogenic diseases), which are diseases caused by mutations in a single gene. The World Health Organization estimates that 10 out of every 1000 people are affected. This means that between 70 million and 80 million people in the world are living with one of these diseases. Similarly, as per the NIH, around 350 million people are living with rare disorders, and this is a disorder or condition with fewer than 200,000 people diagnosed. About 80% of these rare disorders are genetic in origin, and 95% of them do not have even one treatment approved by the FDA. In addition, as per a new scientific paper published in the European Journal of Human Genetics has confirmed that the number of people worldwide living with a rare disease is estimated at 300 million.
In addition, the rising prevalence of hereditary cancer is indeed a significant driver for the market. Carrier screening, particularly for cancer susceptibility genes, plays a crucial role in identifying individuals who carry genetic mutations associated with an increased risk of developing certain types of cancer. For instance, as per the NIH, up to 10% of all cancers may cause by inherited genetic changes. As a result, The rising prevalence of genetic diseases underscores the importance of carrier screening as a preventive measure and a tool for informed decision-making in family planning. As awareness continues to grow the market is likely to play an increasingly crucial role in managing and preventing genetic diseases.
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Predesigned Panel Testing in Expanded Carrier Screening type segment to witness the highest shares during the forecast period.”
Based on the type, the global Carrier Screening Market is segmented into Expanded Carrier Screening (Customized Panel Testing, Predesigned Panel Testing)., and Targeted Diseases Carrier screening. The Predesigned Panel Testing is expected to dominate because of its wider application. Predesigned testing panels are widely used in carrier screening for several reasons, providing benefits in terms of efficiency, cost-effectiveness, and comprehensive coverage of genetic conditions. The selection of genes and genetic variants included in predesigned panels is often based on extensive evidence and scientific research. These panels are designed to target well-established and clinically relevant genetic mutations associated with specific inherited disorders.
US dominates the North American Carrier Screening Industry
Based on the North America region, the Carrier Screening Market is divided into US and Canada. US is expected to dominate the Carrier Screening Market. The United States has a highly advanced and sophisticated healthcare infrastructure, including research facilities, laboratories, and healthcare institutions. This infrastructure supports the development, adoption, and implementation of advanced diagnostic screening such as carrier screening. Similarly, The U.S. is a global hub for biomedical research and innovation. The presence of leading research institutions, academic centers, and biotechnology companies fosters a conducive environment for the development and validation of novel diagnostic as well as research assays.
India dominates the Asia Pacific Carrier Screening Assays Industry
The APAC Carrier Screening Market is segmented into Japan, China, India, and Rest of APAC. In 2023, India accounted for the largest share of the Asian Carrier Screening Market. The large share of India can be attributed to the economic growth in the country, there is an increase in the incidence of genetic disorders or a higher prevalence of certain conditions in the Indian population, provides a greater demand for carrier screening services. Likewise, the India has one of the world’s largest populations, and a larger population often translates to a higher number of individuals seeking healthcare services, including carrier screening.
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Recent Developments of Carrier Screening Industry:
- In 2022, OPKO Health Acquired ModeX Therapeutics, to gain Proprietary Immunotherapy Technology with a Focus on Oncology and Infectious Diseases
- In 2021, DiaSorin acquired Luminex Corporation to expands DiaSorin’s offer in the molecular diagnostic sector gaining access to multiplexing technology, which allows analysis of multiple parameters from a single biological sample within a single run.
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