Carrier Screening Market by Product and Service, Type (Expanded (Customized, Predesigned) Targeted Diseases, Medical condition (Hematologic, Pulmonary), Technology (DNA Sequencing, PCR), End user, Region – Global Forecast to 2028″, is expected to reach USD 5.4 billion by 2028 from USD 2.2 billion in 2023, at a CAGR of 19.7% during the forecast period.
Market is driven by factors such as High risk of chromosomal abnormalities with advancing maternal age and Increasing number of fertility clinics and IVF centers, as Carrier screening is a genetic testing method designed to identify individuals who carry specific genetic mutations that may be passed on to their offspring. While carrier screening primarily focuses on single gene disorders, chromosomal abnormalities can also be part of the considerations On the other hand, Ethical and Legal Concerns is expected to limit market growth to a certain extent in the coming years. As Genetic information is sensitive and can have implications not only for the individual but also for their family members. Likewise, Integration with Telehealth and Digital Health Platforms and Government initiate and policies are anticipated to propel market growth opportunities as Telehealth eliminates barriers related to geographic distance and transportation, making carrier screening services more accessible to a broader population. Individuals can access genetic counseling and testing services from the comfort of their homes. However, availability of lack of practiced professionals is anticipated to hinder market development.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=72642285
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.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=72642285
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 ScreeningMarket
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.
Request Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=72642285
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/carrier-screening-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/carrier-screening.asp
