Dublin, Jan. 17, 2022 (GLOBE NEWSWIRE) -- The "Global Carrier Screening Market By Technology, By End user, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Carrier Screening Market size is expected to reach $2,501.94 million by 2027, rising at a market growth of 10.81% CAGR during the forecast period.
Carrier screening refers to a type of testing procedure that allows an end-user to know if he/she has a gene for any kind of genetic disorder. Carrier screening is broadly implemented before/during pregnancy for preventing the possibility of passing the disease to the newborn. It is suggested to both the parents go through carrier screening, as the possibility of forwarding the genetic disease grows if the two parents are the carriers of any sort of genetic defect. Factor such as massive adoption of carrier screening before and during pregnancy, due to the rise in awareness regarding the adverse effects associated with the passing of genetic diseases is expected to acts as a growth factor for carrier screening market during the forecast period.
The rise in awareness regarding the possibility of transferring the genetic diseases is seen in the healthcare sector among the end-users. To tackle this, end-users have become more careful, with a desire to detect and avoid these diseases at their early phase. These factors are anticipated to boost the growth and demand for the carrier screening market during the forecast period. In the last couple of years, the overall carrier screening market has seen huge popularity due to its advantages. Moreover, the adoption rate of carrier screening and testing is expected to increase due to the rise in the number of patients with genetic disorders.
COVID-19 Impact Analysis
The onset of the COVID-19 pandemic was in the Wuhan city of China. The disease is occurred by a virus, extreme acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transferred among humans. Since the beginning of the virus in Wuhan, the disease increasingly spread to other regions of the world. In addition, this virus causes several symptoms in patients, which may vary from common symptoms to severe symptoms. For example, common symptoms may include dry cough, fever, and fatigue. Though, several symptoms include problems in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement.
Moreover, the virus has the massive potential of mortality in a geriatric population. In March 2020, the World Health Organization (WHO) declared COVID-19 as a global pandemic and health emergency. Additionally, there are only some vaccines that got emergency approvals for the treatment and prevention of COVID-19. Hence, social distancing is considered the most effective step to curb the spread of the deadly virus. Further, numerous countries globally have embraced stringent lockdown conditions to maintain social distancing norms.
Market Growth Factors:
Well-established Healthcare Infrastructure
Many countries are focusing on building sophisticated healthcare infrastructure which is equipped with advanced screening and treatment procedures. In addition, nations in the developed countries have advanced healthcare infrastructure, which are integrated with different types of carrier screening procedures, thereby propelling the growth and demand for carrier screening techniques across such countries. Moreover, many individuals want to know the possibility of transmission of their genetic or hereditary diseases to their offerings. Therefore, these factors are anticipated to unlock bright growth prospects for the players operating in the overall carrier screening market during the forecasting period.
Increasing cases of genetic diseases
The demand and growth of the carrier screening market is expected to be fueled by the increase in the prevalence of genetic diseases around the globe. This is due to the possibility and severity of these diseases based on the carrier status of parents and their ancestors. The American College of Obstetricians and Gynecologists suggests the testing of all pregnant women and those thinking of motherhood in the near future to recognize the possibilities of these illnesses, specifically cystic fibrosis, fragile X syndrome, and spinal muscular atrophy (SMA), at an early stage.
Marketing Restraining Factor:
Low awareness and lack of trained professionals
As cell therapies are gaining more popularity, the automated processing systems market needs more skilled professionals to carry out these therapies and operate automated systems. However, the dearth of skilled professionals is estimated to hinder the growth of the Carrier Screening Market over the forecast period. In addition, the usage of technologically advanced and highly complicated flow cytometers and spectrophotometers for generating a huge amount of data outputs require knowledge for interpreting and reviewing is expected to hinder the market growth.
Type Outlook
Based on carrier screening type, the market is segregated into expanded carrier screening and targeted disease carrier screening. The expanded carrier screening segment procured the maximum revenue share of the overall carrier screening market in 2020. This is credited to the constant development in a polymerase chain reaction, sequencing, microarrays, and other similar technologies in the domain of carrier screening. In addition, the market is likely to witness new growth avenues due to the rising cases of genetic disorders.
Technology Outlook
Based on technology, the carrier screening market is divided into DNA sequencing, microarrays, polymerase chain reaction, and other technologies. In 2020, the DNA sequencing segment acquired the largest revenue share of the overall carrier screening market. The segment is expected to emerge as the leading segment during the forecasting period. This is credited to the constant developments in genetic analysis tools, like assays built on next-generation sequencing and microarray technologies, molecular diagnostics, and advancing the kind for heritable disorders.
End-User Outlook
Based on end-user, the market is segmented into hospitals & clinics, reference laboratories, physician offices, and others. The hospital & clinics segment garnered the largest revenue share in the overall carrier screening market in 2020. Moreover, the segment is likely to showcase a similar kind of trend even during the forecast period. Factors such as the growing occurrence of genetic disorders and developments in carrier screening are likely to propel the growth of this segment.
Regional Outlook
Based on the Region, the carrier screening market is analyzed across North America, Asia-Pacific, Europe, and LAMEA. North America emerged as the leading region by obtaining the biggest revenue share of the overall carrier screening market in 2020. Moreover, the regional market is expected to showcase a similar kind of trend even during the forecast period. Factors such as the rising occurrence of pulmonary conditions, hematological conditions, and neurological conditions in the region are responsible for the massive growth of the regional market.
Cardinal Matrix - Carrier Screening Market Competition Analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Thermo Fisher Scientific is the forerunner in the Carrier Screening Market. Companies such as Quest Diagnostics, Eurofins Scientific, Illumina, Inc. are some of the key innovators in Carrier Screening Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Quest Diagnostics, Incorporated, Thermo Fisher Scientific, Illumina, Inc., Eurofins Scientific Group, Invitae Corporation, OPKO Health, Inc., Fulgent Genetics, Sema4 OpCo, Inc., Myriad Genetics, Inc., and Natera, Inc.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Jun - 2021, Jun) Leading Players
Chapter 4. Global Carrier Screening Market by Type
4.1 Global Expanded Carrier Screening Market by Region
4.2 Global Targeted Disease Carrier Screening Market by Region
4.3 Global Carrier Screening Market by Technology
4.4 Global DNA Sequencing Market by Region
4.5 Global Microarrays Market by Region
4.6 Global Polymerase Chain Reaction Market by Region
4.7 Global Other Technologies Market by Region
Chapter 5. Global Carrier Screening Market by End user
5.1 Global Hospital and Clinics Market by Region
5.2 Global Physician Offices Market by Region
5.3 Global Reference Laboratories Market by Region
5.4 Global Other End user Market by Region
Chapter 6. Global Carrier Screening Market by Region
Chapter 7. Company Profiles
7.1 Quest Diagnostics, Incorporated
7.1.1 Company Overview
7.1.1 Financial Analysis
7.1.2 Recent strategies and developments:
7.1.2.1 Partnerships, Collaborations, and Agreements:
7.1.2.2 Product Launches and Product Expansions:
7.1.2.3 Acquisition and Mergers:
7.2 Thermo Fisher Scientific, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.2.6 SWOT Analysis
7.3 Illumina, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Regional Analysis
7.3.4 Research & Development Expense
7.3.5 Recent strategies and developments:
7.3.5.1 Partnerships, Collaborations, and Agreements:
7.3.5.2 Acquisition and Mergers:
7.4 Eurofins Scientific Group
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Recent strategies and developments:
7.4.4.1 Partnerships, Collaborations, and Agreements:
7.4.4.2 Acquisition and Mergers:
7.5 Invitae Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Product Launches and Product Expansions:
7.5.5.2 Acquisition and Mergers:
7.6 OPKO Health, Inc.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 Recent strategies and developments:
7.6.5.1 Partnerships, Collaborations, and Agreements:
7.6.5.2 Acquisition and Mergers:
7.7 Fulgent Genetics
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.7.5.2 Acquisition and Mergers:
7.8 Sema4 OpCo, Inc.
7.8.1 Company Overview
7.8.2 Recent strategies and developments:
7.8.2.1 Partnerships, Collaborations, and Agreements:
7.8.2.2 Product Launches and Product Expansions:
7.9 Myriad Genetics, Inc.
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental Analysis
7.9.4 Research & Development Expenses
7.9.5 Recent strategies and developments:
7.9.5.1 Partnerships, Collaborations, and Agreements:
7.9.5.2 Product Launches and Product Expansions:
7.1 Natera Inc.
7.10.1 Company Overview
7.10.2 Financial Analysis
7.10.3 Regional Analysis
7.10.4 Research & Development Expenses
7.10.5 Recent strategies and developments:
7.10.5.1 Partnerships, Collaborations, and Agreements:
7.10.5.2 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/k1wl24
