Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for biotechnology industry professionals · Thursday, March 28, 2024 · 699,511,136 Articles · 3+ Million Readers

Trending: Carrier Screening Market Size & Share to Surpass $ 7.56 Billion by 2028 | Vantage Market Research

WASHINGTON, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research analyses that the market is growing with a CAGR of 17.3% in the forecast period of 2022 to 2028 and is expected to reach $ 7.56 Billion by 2028 from $ 2.21 Billion in 2021.

Vantage Market Research completed a qualitative study titled Carrier Screening Market with 122+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. This Carrier Screening market research report is a comprehensive synopsis of the study of the Carrier Screening industry and its influence on the market environment. The report highlights current and future market trends and carries out an analysis of the effect of buyers, substitutes, new entrants, competitors, and suppliers on the market. Carrier Screening market report endows with data and statistics on the current state of the industry which directs companies and investors interested in this market. Furthermore, the report also displays data on key players, major collaborations, mergers & acquisitions along with trending innovation and business policies.

Market Synopsis

Growth of the market can mainly be attributed to determinants such as growing emphasis on technological advancements and early disease detection in carrier screening. Growing awareness related to carrier screening is anticipated to provide a broad range of growth opportunities in the forecast period for players in the market.

Get Access to the In-depth Free Sample Report @ https://www.vantagemarketresearch.com/carrier-screening-market-1131/request-sample

List of Prominent Players in the Carrier Screening Market:

  • Invitae (US)
  • Eurofins Scientific (US)
  • Fulgent Genetics (US)
  • OPKO Health (US)
  • Quest Diagnostics (US)
  • Myriad Genetics (US)
  • Sema4 (US)
  • Thermo Fisher Scientific (US)
  • Illumina (US)

Market Dynamics:

Driver: Carrier Screening for Diseases

The early a disease is identified, the more probable it can be managed successfully or be cured. Treating the disease in its initial phase could also make it easier to live with. Disease detection in its initial phase helps people plan forward, while they are still capable to make key decisions with respect to their support and health needs and on legal and financial matters. Genetic diseases, like, sickle cell anaemia, cystic fibrosis, and Tay-Sachs disease, are disorders which are inherited. Carrier testing for these diseases can provide data about a risk of having a child for a couple with a genetic condition. Risk identification, prior to the beginning of symptoms, is called pre-symptomatic / predictive testing. Many disorders which are genetic can be diagnosed early during pregnancy. Therefore, the consumer demand for effective and safe carrier tests is driving the market growth. Furthermore, carrier tests adoption into normal clinical care provides a commercial benefit to the market.

Driver: Rising Occurrence of Chromosomal Abnormalities

First time mother's average age has been growing, especially in developed nations such as England, France, the U.S., Italy, Japan, and Germany. Financial stability, increase in literacy rates, and social determinants are key aspects for maternal age advancing. The risk of fatal chromosomal abnormalities is related directly to the rise in maternal age. This rise in average maternal age is likely to boost the chromosomal abnormalities incidence, leading to an increase in demand for carrier screening.

Limited Time Offer | Buy this Premium Research Report with Exclusive Discount and Immediate Delivery@ https://www.vantagemarketresearch.com/buy-now/carrier-screening-market-1131/0

Segments Covered:

By Type

  • Expanded Carrier Screening, Targeted Disease Carrier Screening

By Technology

  • DNA Sequencing, Polymerase Chain Reaction, Microarrays, Others

By End User

  • Hospitals & Clinics, Reference Laboratories, Physician Offices, Others

By Regions

  • North America, Europe, Asia Pacific, Middle East & Africa, Latin America

Recent Development

  • In January 2022 Mitera announced the launch of its at-home reproductive genetic testing products Peaches& Me and 23 Pears in all 50 states. It screens for conditions such as down syndrome.
  • In March 2022, Billion to One, raised USD 125M in Series C funding co-led by Adams Street Partners and existing investor Hummingbird Ventures with significant participation from Baillie Gifford, Neotribe Ventures, Norwest Venture Partners, Civilization Ventures, Fifty Years VC, Pacific 8 Ventures, Time BioVentures, and Libertus Capital, among others.

Regional Trends

North America is estimated to hold a substantial share of the market for carrier screening and is likely to show a similar share in the coming years, without substantial fluctuations. Diseases which are genetic is the leading factor of infant deaths in the U.S., accounting for over 18% of the total annual infant mortality, stated by WHO.

Technological platforms and advances in genomic medicine have made possible pan‐ethnic, low-cost, extended carrier screening which enables obstetric care health providers to provide screening for over 100 passive genetic diseases.

However, rapid assimilation of this genomic medicine into the regular obstetric practice has elevated some concerns about the implementation of carrier testing practically.

Key Findings

  • Expanded carrier screening to hold the largest market share: Based on type, the market for Carrier Screening is bifurcated into targeted disease carrier screening and expanded carrier screening. Expanded carrier screening is segmented into predesigned and customized panel testing. The expanded carrier screening held largest market share of the market in 2021 globally, due to upgradation in DNA sequencing, microarrays, polymerase chain reaction, and other technologies in the area of carrier screening. Additionally, rise in cases of genetic disorder is further facilitating the market growth for carrier screening.
  • DNA sequencing to hold the largest market share: Based on technology, Carrier Screening Market is segmented into polymerase chain reaction, DNA sequencing, microarrays, and others. DNA sequencing led the market share in 2021, and is anticipated to remain as a leader in the coming years, due to upgradation in genetic analysis tools, like, assays on next-generation microarray and sequencing technologies, advancing the type for heritable diseases, and molecular diagnostics.

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/carrier-screening-market-1131

The report on Carrier Screening Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Porter's Five Forces Analysis for the Global Carrier Screening Market:

  • Bargaining Power of Suppliers: The product suppliers of carrier screening market are high in number and are larger and more globalized. So, there will be less threat from the suppliers. Thus, the bargaining power of suppliers is low.
  • Bargaining Power of Buyers: Buyers demand different types of carrier screening kits that are accurate and cost effective. This has increased the pressure on the carrier screening providers to offer the best carrier screening test kits. This gives the buyers the option to freely choose carrier screening products that best fit their preference. Thus, the bargaining power of the buyers is high.
  • Threat of New Entrants: Companies entering the carrier screening market are adopting various innovations such as developing carrier screening that are available for home testing. Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: There are various substitutes available for carrier screening such as different types of genetic testing. Thus, the threat of substitutes is high.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Eurofins Scientific and Invitae Corporation. These companies are launching their value-added services in the international market and strengthening the footprint worldwide. Therefore, competitive rivalry in the market is high.

Scope of the Report:

Report Attributes Details
Market Size in 2021 USD 2.21 Billion
Revenue Forecast by 2028 USD 7.56 Billion
CAGR 17.3% from 2022 to 2028
Base Year 2021
Forecast Year 2022 to 2028
Key Players Invitae, Eurofins Scientific, Fulgent Genetics, OPKO Health, Quest Diagnostics, Myriad Genetics, Sema4, Thermo Fisher Scientific, Illumina


Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

Browse More Healthcare Industry Reports from Vantage Library:

  • ePharmacy Market is valued at USD 51.2 Billion in 2021 and is projected to reach a value of USD 73.8 Billion by 2028.
  • Healthcare Biometrics Market was valued USD 2,719.3 Million in 2021 and is anticipated to reach a value of USD 7,606.0 Million by 2028.
  • Revenue Cycle Management Market was valued USD 238.1 Billion in 2021 and is anticipated to reach a value of USD 450.1 Billion by 2028.
  • Dermal Fillers Market was valued at USD 4.7 Billion in the year 2021 and is projected to reach a value of USD 7.9 Billion by the year 2028.
  • Mental Health Apps Market was valued at USD 4.1 Billion in the year 2021 and is forecast to reach a value of USD 9.9 Billion by the year 2028.

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.

Follow Us on: LinkedIn | Twitter | Facebook

Contact us

Eric Kunz

6218 Georgia Avenue NW Ste 1 - 564

Washington DC 20011-5125

United States Tel: +1 202 380 9727

Email: sales@vantagemarketresearch.com

Website:

https://www.vantagemarketresearch.com/

Latest Vantage Market Research Press Releases

Latest Vantage Market Research Blog

Vantage Market Research All Reports

Blog:

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release