Dublin, March 06, 2023 (GLOBE NEWSWIRE) -- The "Carrier Screening Market by Type, Technology, End-user: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global carrier screening market was valued at $1,849.36 million in 2021 and is projected to reach $6,454.60 million by 2031, registering a CAGR of 13.8% from 2022 to 2031.
Key Market Players
- Fulgent Genetics Inc.
- Illumina Inc.
- Diasorin S.p.A.
- Natera Inc.
- Thermo Fisher Scientific Inc.
- Eurofins Scientific
- Myriad Genetics, Inc.
- Opko Health Inc
- Quest Diagnostics Inc.
- InVitae Corporation
Genetic testing is done for checking if people have genetic conditions or diseases that may be present in the family history prior to the occurrence of the symptoms or if people can pass on that genetic condition to their children. Genetic counselors help people decide what tests to get and understand the meaning of tests.
It can be done on amniotic fluid through amniocentesis or the placenta through chorionic villus sampling in pregnant women. It can also be done on an embryo during in vitro fertilization (IVF). Usually, it takes a few weeks for test results to be ready. Some of the diseases for which genetic testing is preferred include cystic fibrosis, Tay-Sachs disease, sickle cell disease, down syndrome, spina bifida, turner syndrome, von Willebrand disease, albinism, and Duchenne muscular dystrophy.
An increase in the incidence of genetic diseases, a rise in the number of advanced product launches, and a surge in the availability & affordability of tests are the factors responsible for driving the growth of the market. Moreover, an increase in the number of biotechnology companies adopting strategies like acquisition is expected to notably contribute toward market growth.
For instance, in August 2021, DiaSorin S.p.A. announced that it has completed the acquisition of Luminex Corporation for a price of $37.00 per share which corresponds to a total equity value of approximately $1.8 billion.
Through the acquisition, DiaSorin has gained access to Luminex's multiplexing technology and a portfolio that will strengthen its existing offering, while expanding the Group presence in the U.S. In addition, the global carrier screening market growth is largely driven by factors such as an increase in preference of carrier screening in genetic disorder fields, various initiatives & funding from government & private bodies for large-scale carrier screening projects and decline in cost of screening.
The key market players in the global carrier screening market have opted for various strategies such as investments in R&D for advancement in carrier screening to strengthen their position in the market and sustain the competitive environment. However, the high cost associated with carrier screening and the dearth of skilled professionals restricts the market growth.
Conversely, various technological advancements such as the development of next-generation sequencing (NGS) techniques for genetic disease screening and DNA sequencing are expected to provide lucrative opportunities for the growth of the market in the coming years. The increase in the R&D activities in the field of bioinformatics and biotechnology along with significant improvement in medical infrastructure is anticipated to increase the opportunities of the market.
Major companies profiled in the report include Diasorin S.p. A (Luminex Corporation), Eurofins Scientific, Fulgent Genetics Inc., Illumina Inc., Invitae Corporation, Myriad Genetics Inc., Natera Inc., Opko Health Inc., Quest Diagnostics Incorporated, Thermo Fisher Scientific Inc.
Key Market Segments
By Type
- Expanded Carrier Screening
- Targeted Disease Carrier Screening
By Technology
- DNA Sequencing
- Polymerase Chain Reaction
- Microarrays
- Others
By End User
- Hospitals and clinics
- Reference Laboratories
- Physician Offices
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Report Metrics:
| Report Attribute | Details |
| No. of Pages | 350 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $1849.36 million |
| Forecasted Market Value (USD) by 2031 | $6454.6 million |
| Compound Annual Growth Rate | 13.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/5muocf
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
