Carrier Screening Market Expected to Reach $6.5 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Carrier Screening Market," The carrier screening market size was valued at $1.9 billion in 2021, and is estimated to reach $6.5 billion by 2031, growing at a CAGR of 13.8% from 2022 to 2031. Genetic testing is done for checking if people have genetic conditions or diseases that may be present in the family history prior to the occurrence of the symptoms or if people can pass on that genetic condition to their children. Genetic counselors help people decide what tests to get and understand the meaning of tests. It can be done on amniotic fluid through amniocentesis or the placenta through chorionic villus sampling in pregnant women.

Key factors driving the growth of the carrier screening market share include is driven by an increase in the number of cases of genetic diseases, the surge in technological advancement in carrier screening tests, the rise in demand for carrier screening among the new couple, and an upsurge in the awareness of the genetic testing. Moreover, favorable support of the government bodies for research activities and growth in awareness about healthcare importance, rise in healthcare expenditure and increase in the number of hospitals & research institutes also help in Carrier Screening growth. For instance, according to the data of an article published by BioMed Central Ltd. which is a part of Springer Nature, in 2019, the reported prevalence of birth defects in India was 64.4 per 1000 live births. The high genetic burden in India has been highlighted by independent studies by BioMed Central Ltd. The lack of a national newborn screening program recently has led to a distending proportion of the Indian population ailing with genetic diseases. However, the high cost of carrier screening and the dearth of skilled professionals are expected to hinder the Carrier Screening Market Growth.

The carrier screening market also offers growth opportunities to the key players in the market. The target population like people planning for a baby and newly married couples are in tremendous need of carrier screening in the region like Europe and Asia-Pacific. Hence, carrier screening requirements among the target population provide growth opportunities. The females who are pregnant or planning to become pregnant must consider having genetic carrier screening.  The results can provide important information about the chances to have a child with certain genetic conditions.  If results indicate that an individual is at increased risk to have a child with a genetic condition, then those people will have the opportunity to discuss the reproductive options with the healthcare professional.

The carrier screening market is segmented based on type, technology, end-user, and region. On the basis of type, the market is bifurcated into expanded carrier screening and targeted disease carrier screening. On the basis of technology, the Carrier Screening industry is classified into DNA sequencing, polymerase chain reaction, microarrays, and others. On the basis of end users, the market is classified into hospitals & clinics, reference laboratories, physician offices, and others. Region-wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

The key players profiled in the Carrier Screening Market study include Diasorin S.p.A (Luminex Corporation), Eurofins Scientific, Fulgent Genetics Inc., Illumina Inc., Invitae Corporation, Myriad Genetics Inc., Natera Inc., Opko Health Inc., Quest Diagnostics Incorporated, Thermo Fisher Scientific Inc. The players in the market have been actively engaged in the adoption of various strategies such as agreements and product launches to remain competitive and gain an advantage over the competitors in the market. For instance, in June 2020, Invitae announced that it had entered into a definitive agreement under which it will combine with ArcherDX to create a genetics leader with unrivaled breadth and scale in cancer genetics and precision oncology.

Key Market Insights

• By type, the expanded carrier screening segment was the highest revenue contributor to the market and is estimated to continue this during the analysis period, with a CAGR of 14.7%. Moreover, the expanded carrier screening segment is also estimated to be the fastest-growing segment with a CAGR of 14.7% during the forecast period.
• By technology, the DNA sequencing segment is expected to be the fastest-growing segment with a CAGR of 14.3% during the forecast.
• Based on end users, the hospitals and clinics segment was the highest revenue contributor to the market with a CAGR of 13.2% during the forecast period.
• Based on region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR of 14.9% during the forecast period.
• This report provides a detailed quantitative analysis of the current Carrier Screening Market Trends trends and future estimations from 2021 to 2030, which assists in identifying prevailing Carrier Screening Market Trends opportunities.