The global carrier screening market size is expected to grow from USD 1.8 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 17.5%
Increasing emphasis on early disease detection and prevention is expected to drive the growth of the global carrier screening market.
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NEW YORK, Nov. 20, 2019 /PRNewswire/ -- The global carrier screening market size is expected to grow from USD 1.8 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 17.5% during the forecast period. Growth in the carrier screening market can primarily be attributed to factors such as increasing emphasis on early disease detection and prevention, the high risk of chromosomal abnormalities, and technological advancements in carrier screening, such as the introduction of expanded carrier screening panels. The increasing awareness of carrier screening is expected to provide a wide range of growth opportunities for players in the market.
The expanded carrier screening segment is expected to grow at the highest CAGR during the forecast period.
On the basis of type, the carrier screening market is segmented into targeted disease screening and expanded carrier screening, which includes predesigned and customized carrier screening panel testing. The growth of this segment can be attributed to factors such as the increasing use of new high-throughput technologies such as sequencing & microarrays and recommendations for the use of expanded carrier screening.
In 2018, the hospitals segment accounted for the largest share of the carrier screening market.
On the basis of end user, the carrier screening market is segmented into hospitals, physician offices and clinics, reference laboratories, and other end users (blood banks, donor banks, community clinic laboratories, and non-profit organizations).In 2018, hospitals formed the largest end-user segment in the carrier screening market.
Generally, gynecologists suggest couples to undergo carrier screening tests before and after pregnancy.In such cases, it is observed that gynecologists give reference for genetic counselors, who generally practice at hospitals.
As a result, the awareness about hospital-based carrier screening tests is higher among patients than those offered at reference laboratories or at physician offices and clinics. Also, hospitals offer flexibility to patients in terms of sample collection, scheduling specimen pickups, and rapid turnaround time to produce results.
North America to grow at the highest CAGR during the forecast period.
North America is expected to grow at the highest rate during the forecast period, followed by Europe. This growth can be attributed to several factors, such as the presence of well-established healthcare systems in the US and Canada, wide access to advanced screening techniques (such as DNA sequencing), recommendations for carrier screening, high and growing demand for the early detection of genetic disorders among the population, availability of mass genetic testing programs, increasing number of awareness campaigns, and the high incidence of chromosomal disorders.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the carrier screening market.
•By Respondent Type: Supply-side: 80%, Demand-side: 20%
•By Designation: C-level Executives: 27%, Directors: 18%, and Others: 55%
•By Region: North America: 50%, Europe: 20%, APAC: 15%, and RoW: 15%
The carrier screening market comprises major players such as Illumina (US), Natera (US), Fulgent Genetics (US), Sema4 (US), Invitae (US), and LabCorp (US). The study includes an in-depth competitive analysis of these key players in the market, along with their company profiles, recent developments, and key market strategies.
Research Coverage:
The market study covers the carrier screening market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on the product & service, medical conditions, technology, condition, type, end user, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information on the closest approximations of the revenue numbers for the overall carrier screening market and its subsegments.This report will help the stakeholders to understand the competitive landscape, to gain more insights to better position their businesses, and to plan suitable go-to-market strategies.
The report will also help the stakeholders to understand the pulse of the market and provide information on key market drivers, restraints, opportunities, and challenges.
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