Dublin, March 25, 2021 (GLOBE NEWSWIRE) -- The "Carrier Screening Market Research Report: By Type, Application, Technology, End User - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
As a result of the testing kits becoming more advanced and cost-effective, the global carrier screening market, which reached $1,303.6 million in 2019, is predicted to grow at a 10.9% CAGR between 2020 and 2030. This is because of the increasing efficiency and reducing costs of the tests, which is driving the demand for them, among people planning a family.
To check the high prevalence of genetic disorders, biotechnological companies are introducing a number of cost-effective and technologically advanced testing kits and products. For instance, in October 2019, Sema4 (Mount Sinai Genomics Inc.) expanded its carrier screen with personalized residual risk, to offer healthcare providers and patients a better assessment of the genetic disease risk.
Expanded Carrier Screening To Be Larger Type in Carrier Screening Market
The expanded carrier screening bifurcation is projected to continue holding larger share in the carrier screening market till 2030. This is attributed to the fact that with this approach, a number of genetic diseases can be tested for at once. Another reason behind the dominance of this bifurcation on the industry is the heavy usage of the next-generation sequencing (NGS) technique for genetic disease screening.
In 2019, the deoxyribonucleic acid (DNA) sequencing division contributed the highest revenue to the carrier screening market, on account of the integration of user-friendly tools with the technology and its declining prices. Moreover, this technology is more accessible, as the people using it for testing do not need to be bioinformatics experts.
During the forecast period, the cystic fibrosis classification would witness the highest CAGR in the carrier screening market, due to the increasing number of people being diagnosed with this genetic condition in North America and Europe. In addition, the awareness about the advantages of diagnosing the disease early is rising, thereby driving the test volume.
North America was the highest-revenue-generating carrier screening market during the historical period (2014-2019), as a result of the growing number of tests being done to determine whether a person is carrying the gene for an inherited disease. Moreover, several established market players are present in the region, which also has the most advanced healthcare infrastructure in the world.
In the coming years, the fastest market growth is expected in Asia-Pacific (APAC), as people in Australia, China, and India are becoming rapidly knowledgeable about genetic diseases and screening tests. Additionally, APAC is the most populated region on earth, and the prevalence of genetic diseases is rising here, particularly in China and India.
Market Players Entering into Partnerships to Increase their Presence
A number of partnerships are being initiated in the carrier screening market, with the companies, offering these solutions, looking to:
Leverage each other's platforms for their products
Combine each other's technology, to offer improved solutions
Commercialize their products outside their home country
Widen their customer base
Advance their technology with each other's expertise
The most prominent companies operating in the global carrier screening market include Invitae Corporation, Illumina Inc., Thermo Fisher Scientific Inc., Otogenetics Corporation, Myriad Genetics Inc., Luminex Corporation, Gene By Gene Ltd., MedGenome Inc., Natera Inc., Laboratory Corporation of America Holdings, and Mount Sinai Genomics Inc.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
220.127.116.11 Expanded carrier screening
18.104.22.168 Targeted carrier screening
4.1.2 By End User
4.1.3 By Application
22.214.171.124 Cystic fibrosis
126.96.36.199 Fragile X syndrome
4.1.4 By Technology
188.8.131.52 DNA sequencing
4.2 Market Dynamics
184.108.40.206 Growing number of acquisitions
220.127.116.11 Increasing case of genetic diseases
18.104.22.168 Growing affordability and availability
22.214.171.124 Increasing advanced product launches
126.96.36.199 Impact analysis of drivers on market forecast
188.8.131.52 Technical challenges
184.108.40.206 Lack of interest and knowledge among general public
220.127.116.11 Impact analysis of restraints on market forecast
4.3 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.2 By End User
5.3 By Application
5.4 By Technology
5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Major Markets: Segment Analysis
Chapter 12. Competitive Landscape
12.1 List of Players and Their Offerings
12.2 Market Share Analysis of Key Players
12.3 Competitive Benchmarking of Key Players
12.4 Global Strategic Developments in the Market
Chapter 13. Company Profiles
Thermo Fisher Scientific Inc.
Myriad Genetics Inc.
Gene By Gene Ltd.
Laboratory Corporation of America Holdings
Mount Sinai Genomics Inc.
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