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 comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.
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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Browse in-depth TOC on “Carrier Screening Market”
206 – Tables
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232 – Pages
Key Market Players of Carrier Screening Industry:
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).
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Carrier Screening 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
Restraint:
- 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
Challenge:
- Lack of skilled professionals
- Lack of standard guidelines for carrier screening
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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 Market
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 Market
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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