by The 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 tests analyse a person’s genetic makeup to determine if they carry one copy of a gene mutation that, when combined with a partner who also carries the same mutation, could cause a genetic disorder in their children. It screens for hundreds of conditions at once rather than testing one by one. Carrier screening helps prospective parents assess the risks of having a child with certain genetic or inherited disorders if one or both parents carry the causative genetic change.
Market Dynamics:
Carrier screening allows prospective parents to make informed reproductive decisions before or early in pregnancy. Identification of genetic disease risk guides families toward supportive interventions and helps reduce disease incidence. Increased awareness among consumers regarding genetic disorders and availability of expanded carrier screening panels offering tests for multiple conditions in one go are some of the key factors expected to drive growth of the carrier screening market over the forecast period. Additionally, development of new technologies is also assisting in expanded carrier screening with greater accuracy and scope of conditions covered.
Segment Analysis
Carrier screening market is mainly segmented into Expanded Carrier Screening and Targeted Carrier Screening. Among these, Expanded Carrier Screening is expected to dominate the market during the forecast period. This is because expanded carrier screening tests a larger number of genetic conditions at once and includes more genes compared to targeted testing. As expanded carrier screening provides comprehensive screening for multiple conditions in a single test, it is being increasingly preferred over targeted carrier screening.
PEST Analysis
Political: Governments across many countries are funding initiatives to promote carrier screening. Favorable regulatory policies are also improving the adoption of carrier screening tests.
Economic: Rising healthcare investments and growing per capita income are fueling market growth. However, high test costs may limit the market to some extent.
Social: Increasing awareness about genetic screening and availability of screening programs are driving market growth. Also, the social acceptance of carrier screening is increasing rapidly.
Technological: Advancements in sequencing technologies like next-generation sequencing (NGS) are making carrier screening more efficient and reliable. Bioinformatics solutions are also enhancing data management and reporting of test results.
Key Takeaways
The global carrier screening market is expected to witness high growth, exhibiting a CAGR of 17% over the forecast period, due to increasing applications of innovative screening techniques.
Regionally, North America dominated the global carrier screening market in 2023 and is expected to maintain its lead over the forecast period as well. This can be attributed to the rising adoption of advanced screening tests and growing healthcare expenditure in the region.
Key players operating in the carrier screening market are 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. Among these, Myriad Genetics, Illumina and Roche are some of the top players due to their wide distribution networks and innovative carrier screening test portfolios.
The carrier screening market is highly competitive, with key players continuously focusing on new product launches. For instance, in 2023, Myriad Genetics launched a new expanded carrier screening test called myRisk Hereditary Cancer to identify carriers of harmful genetic mutations linked to cancer risk. Such product innovations are expected to strengthen their market position over the forecast period.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
