The global Carrier Screening Market is estimated to be valued at US$ 2.34 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Carrier screening involves testing healthy individuals to determine if they carry one copy of a gene mutation that, when inherited from both parents, causes a genetic disorder. It is done to recognize genetic risks before or during pregnancy. Carrier screening can determine disease risks and help make informed family planning decisions.
Market key trends:
One of the key trends driving the Carrier Screening Market is the increasing preference for non-invasive prenatal testing (NIPT). NIPT is a screening test that analyzessmall fragments of fetal DNA circulating in a pregnant woman’s blood. It is considered non-invasive as it does not require procedures like amniocentesis or chorionic villus sampling. NIPT can detect fetal chromosomal abnormalities including Down syndrome with a high degree of accuracy as early as 10 weeks into the pregnancy. This growing popularity of NIPT can boost early carrier screening and awareness.
Market key trends:
One of the key trends in the carrier screening market is the integration of advanced technologies like next-generation sequencing. NGS allows for simultaneous screening of multiple genes and conditions from a single sample. It has streamlined the carrier screening process and enabled widespread carrier screening among pregnant women and couples planning a family. The shift from single-gene to expanded carrier screening panels has also picked up pace due to the improved technological capabilities and reduced costs associated with NGS.
SWOT Analysis
Strengths: Advanced technologies like NGS have improved the precision and scalability of testing. Also, increasing awareness about carrier screening benefits has led to higher screening rates.
Weaknesses: Limited insurance coverage in some regions restricts adoption. Lack of standardized testing guidelines also creates confusion.
Opportunities: Growing supportive government initiatives and expanding application areas beyond reproductive healthcare present growth potential.
Threats: Strict regulations and ethical concerns surrounding NIPT/NIPS could negatively impact the market. Increasing competition presents pricing pressures.
Key Takeaways
The global carrier screening market size was valued at US$ 2.34 Billion in 2023. The market is expected to grow at a high CAGR of 17% during 2023 – 2030 driven by the rising incidence of genetic disorders and increasing preference for knowledge-based family planning.
North America currently dominates the global market owing to the presence of major players, growing awareness, and availability of advanced technologies. However, Asia Pacific is likely to witness fastest growth over the forecast period supported by improving healthcare infrastructure, rising healthcare spending and rapid technological adoption in countries like China and India.
Key players operating in the carrier screening market include Myriad Genetics, Inc, Cepheid, Illumina, Thermo Fisher Scientific Inc., F.Hoffmann-La Roche Ltd, Laboratory Corporation of America Holdings, Otogenetics, MedGenome, GeneTech, and Centogene N.V. Players are actively collaborating and making strategic M&As to sustain their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it