- The growth of the market is attributed to the growing emphasis on initial detection of diseases and high risks associated with chromosomal abnormalities with age.
- Market Size – USD 1.70 Billion in 2019, Market Growth - CAGR of 17.4%, Market Trends – Growing awareness of carrier screening across the healthcare industry
VANCOUVER, BC, Oct. 28, 2020 /PRNewswire/ -- The Global Carrier Screening Market will be worth USD 6.13 billion by 2027, according to a current analysis by Emergen Research. The market is positively affected by a few key parameters. The leading biotechnological companies are trying to introduce and focus on a wide variety of affordable and technologically advanced screening test kits along with the solutions in order to keep a tab on the growing emergence of genetic disorders. However, in developing economies, the growing urbanization is leading to changing lifestyles, which often impacts pregnant women during the phase. Hence, in order to initially detect and diagnose disease, doctors across the globe are emphasizing the usage of carrier screening tests.
Moreover, as a result of the testing kits becoming more advanced and cost-effective, the carrier screening market is predicted to grow significantly throughout the forecast period because of the minimized expenditure on tests and effective efficiency that are propelling the demand for them among people planning a family.
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Key Highlights from The Report
- In November 2019, Asuragen, a molecular diagnostics company based out of the U.S., launched the AmplideX® PCR/CE SMN1/2 Plus Kit. The technology helps in the early detection of variants associated with SMN1 gene duplication events as well as quantify numbers related to SMN1 and SMN2. By providing results from a single PCR reaction, the technology helps increase efficiency by reducing time and effort.
- The growth across the carrier screening bifurcation is estimated to continue to contribute to the growth of the market until 2030 due to the fact that, with this approach, tests for multiple genetic diseases can be carried out at once. The dominance of the market segment is also because of the heavy utilization of the next-generation sequencing (NGS) technique for genetic disease screening.
- Over the forecast period, the DNA sequencing segment is anticipated to witness the highest market share in terms of revenue in the carrier screening market because of the number of patents rising on an incremental scale across European and North American regions. Additionally, awareness regarding the advantages of diagnosing critical diseases early is increasing, thereby driving the growth of the market.
- In terms of revenue, North America held the largest market share in 2019, which can be attributed to the increasing number of tests conducted in order to analyze whether an individual is carrying the gene for an inherited disease. The major competitors across the globe are emphasizing the development of healthcare infrastructure. Over the coming years, Asia Pacific is expected to register the highest CAGR of 18.4% throughout the forecast period as people in India, China, and Australia are becoming aware of genetic diseases and screening tests.
- Key participants include MedGenome Inc., Luminex Corporation, Illumina Inc., Otogenetics Corporation, Myriad Genetics Inc., Thermo Fisher Scientific Inc., Natera Inc., Gene By Gene Ltd., Corporation of America Holdings, and Mount Sinai Genomics Inc., among others.
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For the purpose of this report, Emergen Research has segmented the Global Carrier Screening Market on the technology, end-user, medical condition, and region:
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- DNA Sequencing
- Polymerase Chain Reaction
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Reference Laboratories
- Physician Offices and Clinics
- Medical Condition Outlook (Revenue, USD Billion; 2017-2027)
- Pulmonary Conditions
- Hematological Conditions
- Neurological Conditions
- Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
5. Rest of Europe
- Asia Pacific
3. South Korea
4. Rest of APAC
- Latin America
2. Rest of LATAM
- Middle East & Africa
1. Saudi Arabia
3. Rest of MEA
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