Carrier Screening Market Synopsis
Global Carrier Screening Market 2020 is poised to hold a value of about USD 4.20 billlion by 2025 and is slated to mature at a CAGR of 16.8% from 2019 to 2025.
The key driving factor in the growth of the carrier screening market is the growing research and development operation and the introduction of carrier screening products for genetic disease testing. Demand development for carrier screening items is boosted by the increased launch of items. The increase in recognition and the number of persons with genetic abnormalities results in the need for screening testing for carriers.
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In order to diagnose foetal defects, businesses working in the global carrier screening industry mainly follow the next generation sequencing (NGS) strategy. Manufacturers are making continuous efforts to upgrade the current technology and implement a new revolutionary technology in the market. Latest developments in genetic science have catapulted carrier screening solutions from gene-by-gene testing to panels covering several diseases at one time.
Carrier Screening Market Segmentation
Based on product & service, form, medical condition, technology, and end users, the Global Carrier Screening Market has been segmented.
The goods & service-based business has been separated into goods and services. During the revision phase, the food category is expected to retain the highest.
Based on form, widened carrier screening and focused disease carrier screening, the global carrier screening market has been segmented. It is projected that the extended carrier screening category will have the highest market share throughout the forecast period.
The industry is segmented into respiratory disorders, haematological disorders, neurological conditions, and others dependent on medical conditions.
The market has been segmented into polymerase chain reaction, microarrays, and others by technology.
The industry is segmented into hospitals, reference labs, medical offices, and clinics, among others dependent on end-users.
Carrier Screening Market Regional Overview
The Americas holds the largest market share in the global carrier screening market. Countries like the US and Canada have a significant number of patients suffering from genetic defects, and business development is driven by high knowledge of genetic disorders and their methods of diagnosis. In the US, 50,000 persons are reported to suffer from Marfan syndrome. Demand development in this area is fuelled by the large population suffering from numerous genetic disorders.
The second-largest market for carrier screening is Europe. Increasing research and development initiatives, a rising emphasis on personalised medicine, and the involvement of a significant number of healthcare firms in the area are fueling the growth of the European industry.
In the global carrier screening industry, the Asia-Pacific region is anticipated to be the fastest-growing region. Leading to the rise in the number of individuals suffering from genetic diseases and growing knowledge of genetic disorder diagnostic methods, this field has seen rising market development. With the presence of a wide population base and steady economic growth in countries, the region provides tremendous opportunities for the carrier screening industry. In India and China, high birth rates are expected to provide developers with major advantages, given the available tests are cost-effective. Focusing on these developing markets in such a scenario is likely to enable developers and providers of prenatal and newborn genetic testing to report fast revenue growth.
Owing to poor health facilities, lack of knowledge of the state of the disease and low per capita disposable income in underdeveloped regions of Africa , the Middle East & Africa is the smallest market.
Carrier Screening Market Key Players
Some of the eminent- players in the Global Carrier Screening Market are Fulgent Genetics Inc (US), Thermo Fisher Scientific Inc (US), Eurofins Scientific (Luxembourg), Invitae Corporation (US), Illumina Inc (US), Opko Health (US), Quest Diagnostics Incorporated (US), Myriad Genetics (US), Luminex Corporation (US), Natera Inc (US) Sema4 (US), and Laboratory Corporation of America Holdings (US).
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