Carrier Screening Market to accrue USD 6 billion by 2032, Says Graphical Research Powered by GMI
Carrier Screening market is expected to witness a robust CAGR of 13.3%, driven by the continuous technological advancements in carrier testing and the increasing consumer interest in personalized medicines.
Selbyville, Delaware, June 11, 2023 (GLOBE NEWSWIRE) —
Carrier Screening Market size is slated to reach USD 6 billion by 2032. Growing demand for personalized medicine will act as a major factor driving the industry trends. Carrier screening aligns with customizable medicines by providing personalized information about an individual’s genetic risks and understanding their carrier status. The information from these tests helps the individuals to make informed decisions about family planning, reproductive options, and prenatal care.
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Awareness about preconception testing to boost targeted disease screening segment
The industry is divided into targeted disease carrier screening as well as expanded carrier screening. The targeted disease carrier screening market segment share will rise considerably by 2032. The growing awareness among individuals and couples regarding the importance of preconception testing is fueling product adoption. Carrier screening helps identify genetic variations that can be passed on to children, allowing couples to make informed reproductive decisions. Furthermore, increased competition among testing laboratories and companies has led to improved accessibility, affordability, and availability of carrier screening services.
Reference laboratories to attain substantial popularity
The carrier screening industry is segregated into hospitals, physician offices & clinics, reference laboratories, and others. The reference laboratories segment will depict a remarkable CAGR by 2032, owing to rising prevalence of genetic disorders. Carrier screening helps individuals identify their carrier status for various genetic conditions, allowing them to assess the risk of passing on these disorders to their children. With a growing number of people seeking carrier screening, the reference laboratories are contributing significantly to the market.
Browse key industry insights spread across 190 pages with 411 market data tables & 17 figures & charts from the report, “Carrier Screening Market Size By Type (Expanded Carrier Screening, Targeted Disease Screening), By Technology (DNA Sequencing, PCR), By Medical Condition (Pulmonary Conditions, Neurological Conditions), By End-use (Hospitals), & Forecast, 2023 – 2032” In detail along with the table of contents:
Established healthcare infrastructure to push Europe industry
Europe market is primed to garner substantial revenue by 2032, on account of the well-established healthcare infrastructure with access to advanced genetic testing laboratories and specialized clinics in the region. The availability of skilled healthcare professionals, including genetic counselors and specialists, supports the expansion of the carrier screening industry by providing accurate and comprehensive screening services. In addition, government support & funding aimed at identifying carriers of genetic disorders as well as offering counseling and reproductive options to individuals are pushing regional industry growth.
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Major Carrier Screening Market Players
Some of the top players profiled in the carrier screening industry report include Myriad Genetics, Inc., Thermo Fisher Scientific Inc., Fulgent Genetics Inc., BGI Genomics, Quest Diagnostics Inc., InVitae Corporation, and Illumina Inc. among others.
Carrier screening market news
- In April 2023, Thermo Fisher Scientific, a supplier of scientific instruments, committed a deployment dealership with Devyser, a genetic testing solutions provider, to commercialize Devyser’s post-transplant NGS product portfolio. The company will provide its carrier screening technology to further promote their products in North America and Europe.
- In September 2023, Quest Diagnostics Inc. Joined hands with Lee Health to boost diagnostic services quality and increase patient & doctor comfort. With this, the company will offer laboratory expertise for genetic studies.
Partial Table of Contents (ToC) of the report:
Chapter 3 Carrier Screening Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
126.96.36.199 Rise in awareness coupled with emphasis on early diagnosis of genetic disorders
188.8.131.52 Surging adoption of IVF and cryopreservation
184.108.40.206 Technological advancements in carrier screening
220.127.116.11 Growing consumer interest in personalized medicines
3.2.2 Industry pitfalls & challenges
18.104.22.168 High costs and reimbursement issues of carrier testing
22.214.171.124 Lack of standard guidelines and skilled professionals
3.3 Growth potential analysis
3.3.1 By type
3.3.2 By technology
3.3.3 By medical condition
3.3.4 By end-use
3.4 COVID-19 impact analysis
3.5 Regulatory landscape
3.6 Future market trends
3.7 Marketing strategy analysis
3.8 Technology landscape
3.9 Reimbursement scenario
3.10 Policy landscape
3.11 Gap analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.2 Company matrix analysis, 2022
4.3 Competitive positioning matrix
4.4 Vendor matrix analysis
4.5 Strategy dashboard, 2022
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