Carrier Screening Market to Reach over USD 7.56 Billion by 2028

Market Summary:

The Carrier Screening Market is expected to reach over USD 7.56 Billion by 2028, growing at a CAGR of 17.10% from 2022 to 2028. The market is mainly driven by factors such as the growing application of screening tests in genetic disorders and snowballing awareness of carrier screening. Moreover, the other factors that are propelling the market growth are surging emphasis on early disease detection and prevention, as well as increasing demand for personalized medicine. At the present time, the prevalence of genetic diseases, such as Tay-Sachs disease and sickle cell anemia, are inherited disorders is increasing hastily. Also, the prevalence of chronic diseases such as diabetes, cancer among others is also surging at an unprecedented level. The fact that, if the disease is diagnosed early it can likely be cured or successfully managed is increasing the awareness among people. Thus, carrier testing for such diseases can provide information about risk.

Type Segment Outlook:

Based on the type segment, the market is categorized into expanded carrier screening and targeted disease carrier screening. The expanded carrier screening segment is further fragmented into customized panel testing and predesigned panel testing. Expanded carrier screening is projected to hold the largest share of the type segment owing to the increasing use of new technologies such as sequencing & microarrays and recommendations.

End-User Segment Outlook:

Based on the end-user segment, the market is divided into Hospitals, Reference Laboratories, Physician Offices & Clinics, Other. The growth of this segment is attributed to factors such as an increase in the number of populations suffering from diseases, rise in the number of health-conscious people, among others.

Regional Outlook

North America is anticipated to hold the largest share of the Carrier Screening Market over the forecast period owing to the presence of an increasing number of patients along with investments in R&D from the government and several key players. Asia Pacific is estimated to grow at a Significant Compound Annual Growth Rate (CAGR) for Carrier Screening Market over the forecast period of 2022-2028.

Competitive Landscape:

Some of the major players that dominate the Carrier Screening Market include, 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).

Increasing Dominance of Infectious Diseases to Drive the Market

The Global Carrier Screening Market is majorly driven by the increasing dominance of contagious diseases, hematological diseases, and others. Also, along with the growing population, the number of populations suffering from chronic diseases such as cancer, diabetes among others is also increasing at its wildest level. Thus, the awareness among the people regarding health is surging on an unprecedented level. Therefore, further boosting the growth of the Carrier Screening Market. Moreover, the government is taking several initiatives, increasing funding from numerous key players for R&D is further propelling the Carrier Screening Market growth over the forecast period.