NEWARK, Del, March 08, 2023 (GLOBE NEWSWIRE) -- The global carrier screening market is expected to record a CAGR of 12.4% between 2023 and 2033, with a size estimated in 2023 at US$ 1,343.40 million. The market's value is expected to rise to US$ 4,323.84 million by 2033.
As a result of increased funding from the public and commercial sectors in response to the rising demand for genetic tests, the market is predicted to expand. The adoption of accessible technologies is recognized as a key component in carrier screening.
The introduction of innovative tests for better diagnosis and treatment is having an increasing impact on the global carrier screening industry. The sector is growing as a result of the increase in genetic defects and chronic diseases.
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Dynamics of the Global Carrier Screening Market
Throughout the projected period, market participants are anticipated to increase their mergers, agreements, and acquisitions. For instance, to sell the extended carrier screening (ECS) test in Hong Kong, Counsyl, Inc. expanded its cooperation with Angsana Molecular & Diagnostics Laboratory in July 2017. Furthermore, Myriad Genetics, Inc. purchased Counsyl, Inc. in July 2018. The acquisition is anticipated to improve Myriad Genetics, Inc.'s portfolio of genetic tests.
Several launches and approvals of new carrier screening tests are probably going to fuel market expansion during the anticipated time.
Regional Insights for the Global Carrier Screening Market
Due to product approvals and the introduction of novel carrier screening tests, North America held the leading market share through 2033. For instance, in October 2019, Sema4 announced the availability of the Expanded Carrier Screen, a test that estimates the likelihood that a kid may inherit a genetic condition.
Due to the introduction and acceptance of new screening tests in the region, Europe is also experiencing profitable growth in the carrier screening industry.
For instance, the QIAseq Expanded Carrier Screening Panel was introduced by the German company QIAGEN in June 2019. For molecular diagnostics, QIAGEN delivers sample and assay technology. The targets and genes responsible for 200 illness indications are disclosed by the QIAseq.
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Key Takeaways
- With a 12.9% CAGR between 2023 and 2033, the expanded carrier screening (ECS) segment is anticipated to be the key revenue-generating market.
- Through 2033, the DNA sequencing market sector held a 39.9% revenue share, dominating the carrier screening market.
- With a 47.1% carrier screening market share throughout the projection period, the laboratory segment dominated the global market.
- With a share of 40.19% through 2033, the North American market is anticipated to hold a leading position in the carrier screening market.
Competitive Landscape
There are several significant participants in the fragmented and competitive carrier screening market. A small number of significant businesses control a large portion of the market.
The market's overall competitive rivalry is growing as a result of the existence of significant players including Abbott, Myriad Genetics, Inc, Cepheid, Illumina, Thermo Fisher Scientific Inc., F.Hoffmann-La Roche Ltd, Laboratory Corporation of America Holdings, Otogenetics, MedGenome, GeneTech and Centogene N.V.
Recent Development
- Collaboration – To Co-develop
Illumina and Kartos Therapeutics, Inc. announced a collaboration to co-develop a TP53 companion diagnostic (CDx) in April 2021. This CDx is based on the information provided by Illumina's comprehensive genomic profile assay, TruSight Oncology.
- Partnership - Utilizing the Skills of Both Parties
Fulgent and Precision Genomics Laboratory (PGL) partnered in January 2019 to offer Columbia patients on-site performed, expanded carrier screening.
- Acquisition – For Expansion
Fulgent purchased CSI Laboratories (CSI) in August 2021 to increase its exposure to somatic molecular diagnostics and cancer testing. CSI provides molecular genetics, immunohistochemistry, fluorescence in-situ hybridization (FISH), and cytogenetic studies.
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Key Segments
By Type:
- Expanded Carrier Screening
- Targeted Disease Carrier Screening
By Medical Condition:
- Cystic Fibrosis
- Tay-Sachs
- Gaucher Disease
- Sickle Cell Disease
- Spinal Muscular Atrophy
- Other
By Technology:
- DNA Sequencing
- Polymerase Chain Reaction
- Microarrays
- Other
By End User:
- Hospitals
- Laboratories
- Physician Offices & Clinics
- Other
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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