Carrier Screening Market is Estimated to Witness High Growth Owing to Increasing Incidence of Genetic Disorders
Carrier screening enables detection of genetic disorders in prospective parents so that they can make informed reproductive decisions. It analyses DNA samples of prospective parents to determine whether they carry mutant genes for severe inherited disorders such as cystic fibrosis, fragile X syndrome and spinal muscular atrophy. Carrier screening helps identify potential health risks for future offspring and their carriers who do not themselves have any physical signs of the associated disease. The global carrier screening market is estimated to be valued at US$ 2.34 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing incidence of genetic disorders owing to changing lifestyle and environmental factors is a major driver of the carrier screening market. Around 350,000 babies are born each year with serious genetic or birth defects according to Centers for Disease Control and Prevention. Moreover, rising awareness among expectant couples about the economic burden and psychological trauma caused by genetic disorders is prompting more customers to opt for carrier screening. Rapid innovations aiding efficient and affordable test procedures are further augmenting market growth. However, lack of consensus over appropriate testing criteria and guidelines remain key challenges.
SWOT Analysis
Strength: The carrier screening market provides critical information to identify genetic diseases early. Screening helps expectant parents make informed reproductive decisions. It is a low-cost procedure compared to lifelong treatment of genetic disorders.
Weakness: Some religious and cultural beliefs consider screening unnecessary medical intervention. Low awareness in developing nations restricts market growth. False positives can cause unnecessary anxiety without confirmatory testing.
Opportunity: Rising risk of genetic diseases due to delaying parenthood increases screening demand. New technologies like NGS provide affordable analysis of multiple conditions simultaneously. Growing healthcare investments in Asia-Pacific create a lucrative opportunity.
Threats: Regulations on marketing claims and test protocols vary globally increasing compliance costs. Ethical concerns around uses like embryo selection, abortion, or human enhancement challenge market expansion. New entrants from adjacent fields may disrupt current market dynamics.
Key Takeaways
The global carrier screening market is expected to witness high growth due to the rising prevalence of genetic disorders globally. The market size for 2023 is estimated at US$ 2.34 Billion with a CAGR of 17% during the forecast period of 2023 to 2030.
Regional analysis: North America dominates with over 40% market share led by the US. Growing health awareness, easy accessibility to advanced care, and favorable reimbursement drive the regional growth. Asia Pacific is expected to emerge as the fastest-growing region due to improving healthcare penetration in major countries like China and India.
Key players operating in the carrier screening market are Eurofins Scientific, Invitae, OPKO Health, Fulgent Genetics, Quest Diagnostics, Sema4, Myriad Genetics, Illumina, and Thermo Fisher Scientific. These players are involved in new product launches, mergers, acquisitions and partnerships for global expansion into high-growth markets.
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