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There are several factors which shape the dynamics and growth of the Carrier Screening Market. Another key driver for this market is the growing awareness around and demand for carrier screening, a genetic testing method to identify individuals carrying recessive genetic mutations which could be passed down to their babies. The increasing awareness among people about their carrier status in relation to reproductive decisions has resulted in increased demand for carrier screens across the globe.
Advancements in medical research and technology play a pivotal role in shaping the carrier screening market. In turn, current research activities focus on enlarging screened conditions, reducing test errors by cutting costs involved while facilitating ease of administration. Therefore, introduction of advanced genetic testing technologies such as next-generation sequencing enhances its growth so as to make available comprehensive carrier screening options that are both trustworthy enough for healthcare professionals and reasonable from patients’ point of view.
Among diagnostic and biotechnology companies, the competitive landscape is another key market factor. Innovation is encouraged by fierce competition with companies struggling to develop more accurate and comprehensive carrier screening panels as well as testing methodologies. Strategic collaborations, acquisitions and mergers shape the competitive landscape of firms that are looking to expand their testing portfolios or increase their relevance in the carrier screening market. For continued success in a hotly contested arena such as this, effective marketing and differentiation of carrier screening services is crucial.
Furthermore, it’s important to understand consumer preferences and emerging healthcare trends in carrier screening market. Specifically, family planning often makes individuals or couples more proactive about undergoing carrier screening due to higher risk for certain genetic disorders. As such developers have gone ahead to introduce simple tests whose results can be easily understood by patients while emphasizing on early detection of genetic risks.
However, all-inclusive health system structure and payment policies shape the carrier screening market. People’s choices among them those of healthcare providers depend on service accessibility or reimbursement issues which affect specific test adoption for carrying out screenings hence shaping market dynamics.
Carrier Screening Market Highlights:
Carrier Screening Market Overview
The Career Screening Market size is anticipated to reach USD 8.39 Billion by 2032 at 14.4% CAGR during the forecast period 2023-2032. The carrier screening is genetic testing that is used to under the cause of gene disorders. This type of test is mainly done during the pregnancy and provides significant information about the woman's risks for reproduction and chances of a genetic disorder of the child.
The demand for this type of test has increased to prevent any disorders and risks. With the help of expanded carrier screening, it is now easy to detect around 100 disorders from a single sample. Also, the targeted carrier screening helps in identifying any disease by analyzing the family medical history. Also, medical conditions such as pulmonary and haematological conditions will have the highest growth in the Career Screening Market.
COVID-19 Analysis
The Coronavirus disease caused a huge ruckus in the Career Screening Market. Various incidents like financial disruption, supply, and management, manufacturing units were halted so several months. This led to an increase in the gap in production and demand in the market. Moreover, after the waiver of lockdown, various key players began to improve the market growth with investments, partnerships, acquisitions, etc. Henceforth, the market will observe immense growth in the future years.
Market Dynamics
Market Drivers
The increasing demand for early detection of diseases and development in technology will drive the Career Screening Market Growth. Also, the investment by key players for new technologies will further improve the market growth in the future.
Restraints
The low awareness for new technologies will act as a significant restraint for the Career Screening Market Growth. The unavailability of basic guidelines for carrier screening will further restrict the market growth.
Opportunities
The increasing investments by key players and rapid technological advancements will offer new opportunities for Career Screening Market Growth.
Challenges
The problem regarding the accuracy of data can be a major challenge for the Career Screening Market. Henceforth, this factor can hinder the Career Screening Market.
Cumulative Analysis
The Compound Annual Growth Rate (CAGR) of the Carrier Screening Market is estimated to boost up to 17.40%. It is also evaluated that the Carrier Screening industry Value will further reach up to USD 7.40 Billion by the studied forecast period 2021-2028.
Value Chain Analysis
The improvement in technology and rapid technological development is projected to boost the Carrier Screening Market Trends. Also, the strengthening of the supply chain and rising demand for better healthcare infrastructure will further enhance the value chain of the Carrier Screening industry in the forthcoming years.
Market Segmentations
The Carrier Screening Market Size is segmented into Products and Services, Type, and Medical Condition. Based on type, the Carrier Screening Market is fragmented into Targeted Carrier Screening, Expanded Carrier Screening. The Expanded Carrier Screening is divided into Customized Panel Testing and Predesigned Panel Testing. With the help of expanded carrier screening, it is easy to detect around 100 gene disorders. Furthermore, the targeted carrier screening helps identify gene disorders by analyzing the family history.
Based on Medical conditions, the Carrier Screening Market is bifurcated into Hematological Conditions, Pulmonary Conditions, Neurological Conditions, and others. The hematological sub-segment is anticipated to have the largest share in the market. It is mainly due to the increasing cases of sickle disorders in patients. Also, the pulmonary conditions will have the fastest growth in the Carrier Screening Market. The others sub-segments include diseases like trisomy 13, Marfan syndrome, and Down syndrome.
Based on Product and Services, the Carrier Screening Market is again divided into Product and Service. The services sub-segment is evaluated to grow at the fastest rate. Also, the product sub-segment is predicted to observe high growth with the increasing awareness and early diagnosis facility.
Regional Analysis
On the basis of region, the Carrier Screening Market is divided into North America (U.S, Mexico, and Canada), Europe (Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific (Japan, India, Australia, South Korea, and Rest of Asia Pacific), LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).
According to the Carrier Screening Market Forecast by MRFR, it is estimated that North America will hold the largest share in the forthcoming years. The presence of various key players and advanced healthcare solutions are driving the Carrier Screening Market Growth in this region.
Secondly, Europe is predicted to have the second-largest Carrier Screening Market Share in the studied forecast period. With the increasing emphasis on development and research, the market is evaluated to record robust growth. Also, the increasing demand to manufacture personalized machines will influence the Carrier Screening industry positively.
Thirdly, the Asia-Pacific region is predicted to have the fastest growth in the future years. The increasing investments by key players mainly in India and China are playing a crucial role in driving the market. Also, the rising awareness for genetic disorders and the increasing geriatric population are speculated to propel the Carrier Screening Market.
Competitive Landscape
There are various companies present in the Carrier Screening Market. They implement various market strategies to improve their business portfolio across the world. These key players do mergers, partnerships, acquisitions, new ventures, etc. Some of the key players in the Carrier Screening Market are as follows.
- Opko Health (US)
- Quest Diagnostics Incorporated (US)
- Eurofins Scientific (Luxembourg)
- Sema4 (US)
- Fulgenmt Genetics Inc. (US)
- Invitae Corporation (US)
- Laboratory Corporation of America Holdings (US)
- Illumina Inc. (US)
- Natera Inc. (US)
- BGI Group (China)
- deCODE Genetics (Iceland)
- Agilent Technologies (US)
- Genomic Health (US)
- Pathway Genomics (US)
- Bio-Rad Laboratories Inc. (US)
- Admera Health (US)
- Abbott Laboratories (US)
Recent Developments
- GenPath Women's Health which is the subsidiary of OPKO Health in 2017 launched a prenatal screen with a non-invasive procedure called CalriTest. This device will help to identify the abnormal chromosomes.
- Invitae Corporation in 2018 launched its screening device for comprehensive genetic.
Report Overview
The report overview of Carrier Screening Market Outlook is as follows.
- Market Overview
- COVID-19 Analysis
- Dynamics of the Market
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Analysis
- Recent Development
Report Score and Segmentation
The report score is to give information about the Carrier Screening Market Analysis. It highlights information such as market value, CAGR, opportunities, challenges, etc. The information provided in this report is gathered from various primary and secondary sources.
- Study Period- 2021-2028
- Base Year-2021
- Forecast Period- 2021-2028
- Historical Period-2017-2020
Carrier Screening Market Segmentation
Carrier Screening By Type
- Targeted Carrier Screening
- Expanded Carrier Screening
- Customized Panel Testing
- Predesigned Panel Testing
Carrier Screening By Medical Condition
- Hematological Conditions
- Pulmonary Conditions
- Neurological Conditions
- Others
Carrier Screening By Services and Products
- Products
- Services
Carrier Screening By Region
- North America (U.S, Mexico, and Canada)
- Europe (Germany, France, Spain, Italy, and Rest of Europe)
- Asia Pacific (Japan, India, Australia, South Korea, and Rest of Asia Pacific)
- LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA)
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