Global Market Overview:
The global carrier screening market size is projected to reach USD 4.0 billion in 2024 from USD 1.8 billion in 2019, growing at a CAGR of 17.5% during the forecast period. Growth in the market can primarily be attributed to factors such as increasing emphasis on early disease detection & prevention and technological advancements in carrier screening. Increasing awareness of carrier screening is expected to provide a wide range of growth opportunities for players in the market. On the other hand, a lack of standard guidelines for carrier screening and the dearth of a sufficient workforce may challenge market growth to a certain extent.
North America is expected to account for the largest market share during the forecast period.
The global carrier screening market is segmented into North America, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW). In 2018, North America was the largest regional market for carrier screening, followed by Europe. The large share of North America 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.
Key Market Players
The major companies in the carrier screening market include Eurofins Scientific (US), Invitae (US), OPKO Health (US), Fulgent Genetics (US), Quest Diagnostics (US), Sema4 (US), Myriad Genetics (US), Illumina (US), and Thermo Fisher Scientific (US).
Invitae (US) was one of the major players operating in the global market in 2018. The company’s major testing services include core, expanded, predesigned, and customized carrier screening testing panels. Invitae’s geographic presence is prominent in North American countries, which primarily focuses on offering carrier screening testing services. Since Invitae’s acquisition of Good Start Genetics in 2017, the company has significantly strengthened its position in the carrier screening testing market.
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