The global carrier screening market was valued at $846.9 million in 2018 and is estimated to grow over $2.93 billion by 2029.
According to a new market intelligence report by BIS Research, titled “Global Carrier Screening Market- Analysis and Forecast, 2019-2029”, the global carrier screening market was valued at $846.9 million in 2018, and is estimated to grow over $2.93 billion by 2029. The global carrier screening market is expected to grow at a compound annual growth rate (CAGR) of 11.59% during the forecast period from 2019 to 2029.
The development of the market is aided by the impressive growth in the field of non-invasive prenatal testing (NIPT), genetic testing, and precision medicine.
Browse 16 Market Data Tables and 142 Figures spread through 201 Pages and in-depth TOC on "Global Carrier Screening Market"
Genetic diseases are the leading cause of the infant death, accounting for approximately 20% of annual infant mortality in the U.S. Advancements in the technological platforms in the genomic medicine have made possible low cost, pan-ethnic expanded carrier screening, enabling obstetric care providers to offer screening for over 100 recessive genetic disorders.
However, the rapid integration of use of genomic medicine into routine obstetric practices has eventually raised concerns about the implementation of carrier testing.
Technological and other advancements over the past decade have led to the discovery of thousands of genes that are associated with autosomal and X-linked recessive Mendelian disorders. Recent improvements in assessing the individual variants in the human genome, generally offer the possibility of testing populations for all known severe recessive genetic disorders.
For decades, general population carrier screening was based on the clinical validity and the utility to direct services based on ethnicity, social factors or race that may lead to particular conditions being more common in a particular group. With advancement in genetic knowledge and technologies, carrier screening for disorders such as cystic fibrosis has now become a part of primary care.
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With genetic screening, arises several important legal issues such as insurance and employment discrimination, confidentiality, and informed consent for both testing and treatment. Approximately, seven states have laws that penalize providers for violating a patient’s privacy regarding the genetic information of patients and 27 states require consent for disclosure of genetic information to the third parties.
According to Wahid Khan, Principal Analyst at BIS Research “North America is the leading contributor to the global carrier screening market and is noticed to be contributing more than 51.82% of the global market value. However, Asia-Pacific is expected to grow at an impressive CAGR of 15.97% during the forecast period from 2019 to 2029.
Currently, the Asia-Pacific market is estimated to contribute approximately 15.11% of total global market value.”
- South Korea is anticipated to witness a high growth in the demand for carrier screening products during the forecast period.
- Currently, the cystic fibrosis is acknowledged to be the major contributor to the global carrier screening market and is expected to grow at 13.36% CAGR during the forecast period.
- The commercialization of carrier screening laboratory developed tests in the near future is expected to disrupt the dynamics of the market. The key players of the market are improvising their product portfolio to handle the shift in the dynamics of the market.
- Next-generation sequencing (NGS) technology used in the carrier screening procedure is expected to witness a robust CAGR during the forecast period.
This market intelligence report provides a multidimensional view of the global carrier screening market in terms of market size and growth potential. This research report aims at answering various aspects of the global carrier screening market with the help of key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with the recent market activities, such as product launches, regulatory clearance, and certifications, partnerships, collaborations, business expansions as well as mergers and acquisitions. The research report provides a comprehensive analysis of the product sales and manufacturers and trend analysis by segment and demand analysis by geographical region.
This report is a meticulous compilation of research on more than 30 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles 15 key companies, namely, Illumina, Inc., Myriad Genetics, Inc., Thermo Fisher Scientific Inc., Laboratory Corporation of America Holdings, Quest Diagnostics, Natera, Inc., Invitae Corporation, Eurofins Scientific, GenMark Diagnostics, 23and Me, Inc., Sema4, BGI, Centogene AG, Pathway Genomics, and Gene By Gene.
Key Questions Answered in the Report:
- How the carrier screening technology is projected to impact the healthcare market, globally?
- What was the size of the market in 2018 and how much is it projected to grow during the forecast period from 2019 to 2029? What are the current key trends witnessed by the carrier screening market?
- How are the transformational trends of this technology expected to yield new business opportunities?
- What are the major market drivers, challenges, and opportunities in the global carrier screening market?
- How is each segment of the global carrier screening market expected to grow during the forecast period, on the basis of:
- Product type, including laboratory developed tests (LDT) and kits and assays
- Disease, including thalassemia, fragile x syndrome, sickle cell anemia, spinal muscular atrophy, hemophilia, cystic fibrosis, and other autosomal recessive genetic disorders
- Region, including North America, Europe, Asia-Pacific, Latin America, Rest-of-the-World (ROW)
- What is the impact of different macroeconomic factors on the dynamics of carrier screening market?
- What are the influencing factors that may affect the market share of the key players?
- What is expected to be the impact of commercialization of the carrier screening tests on global healthcare industry?
- Which are the key emerging players in this market and what type of products are being provided by them to the end users?
- How is the industry expected to evolve during the forecast period 2019- 2029?
- What is the role of each company in carrier screening market?
- What is the revenue generated through the sales of carrier screening, by each company?
- What are the key strategies including mergers and acquisitions done by each company during last three years?
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