Carrier Screening MarketCarrier Screening Marketwas valued at USD USD 2.21 Billion billion in 2021, and is anticipated to reach USD USD 7.56 Billion billion by 2028, growing at a CAGR of 17.3%% from 2022 to 2028. Carrier testing is a genetic test method used to identify abnormal genes in the fetus that may cause abnormal recessive diseases. It is a predictive diagnostic and pre-symptomatic solution used by pregnant people to assess the risk of their child inheriting genetic diseases from parents. It involves examining a sample of saliva, blood, or cheek to detect the presence of abnormal genetic disorders, such as cystic fibrosis, sickle cell anemia, and Tay-Sachs’s disease. They are used for an extended, custom panel, pre-designed panel, and targeted diagnosis of various lung, hematological and neurological disorders.
The increasing prevalence of fetal chromosomal abnormalities and genetic disorders worldwide is one of the key drivers of market growth. The growing awareness among the masses about the benefits of early detection and disease identification inspires market growth. In line with this, cellular testing is performed extensively to detect DNA mutations in the genetic code and to detect mutations that can cause cardiovascular disease, preleukemia, hearing impairment, and low-grade disease. The network company test also helps to provide adequate prenatal and postnatal care, which helps to effectively manage pet diseases. Various technological advances, such as the development of next-generation genetic testing (NGS) methods also favor market growth. Other factors, including comprehensive research and development (Research & Development) activities in the field of biotechnology and bioinformatics, as well as significant growth and medical infrastructure, are expected to further market growth.
The increase in applications for the testing of companies involved in genetic disorders, various efforts and funding from the government and the private sector for major carrier testing projects, and the reduction in testing costs also have a significant impact on global market growth. However, the rapid integration of this genomic drug into the normal reproductive function has raised some concerns about the actual implementation of network company testing. The lack of standard guidelines for network company testing and the lack of sufficient staff may be challenging for market growth to some extent.
On a technological basis, DNA sequence dominated the market in terms of revenue in 2021, contributing to almost half of the market. However, the polymerase chain reaction is expected to register a very high CAGRat the time of prediction.
Regionally, the market size of genetic testing is analyzed throughout North America, Europe, Asia-Pacific. North America is found to have played a major role in theCarrier Screening Market and is expected to show the same trend in the forecast period, without much volatility. Genetic disease is the leading cause of infant mortality in the United States, accounting for about 20% of total infant mortality each year, according to the World Health Organization.
The presence of the major market players, such as Invitae (US), Eurofins Scientific (US), Fulgent Genetics (US), OPKO Health (US), Quest Diagnostics (US), Myriad Genetics (US), Sema4 (US), Thermo Fisher Scientific (US) and Illumina (US), are increasing the overall competitiveness of the market. Most market players expand their expertise with acquisition and collaboration.
Apr 19, 2024
