Artificial Intallegence is fastest growing segment fueling growth of Carrier Screening Market

The 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 Overview:

Carrier screening helps identify couples who carry certain genetic mutations that could cause serious genetic disorders in their offspring. It analyzes a few genes at a time to look for variants associated with disorders like cystic fibrosis, fragile X syndrome, spinal muscular atrophy, and Tay-Sachs disease. Identifying carriers through screening assists in reproductive decision-making.

Market key trends:

The rise of non-invasive prenatal testing (NIPT) is a key trend driving growth of the carrier screening market. NIPT uses cell-free DNA analysis of maternal blood to screen for chromosomal abnormalities with a high degree of accuracy. It has emerged as a first-tier screening option and has largely replaced conventional screening methods like ultrasound measurements and serum biomarkers. NIPT also enables carrier screening, allowing couples to know if they are carriers for genetic disorders like cystic fibrosis and spinal muscular atrophy. This has boosted adoption of carrier screening significantly.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the carrier screening market is low as it requires extensive R&D and high capital investment to develop specialized diagnostic tests. It also requires developing partnerships with healthcare providers.

Bargaining power of buyers: The bargaining power of buyers in the carrier screening market is moderate. The presence of several diagnostics players provides options to buyers, but standardized tests limit full flexibility.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Raw material suppliers have some influence due to proprietary technologies and assays. However, established diagnostics players can leverage economies of scale in procurement.

Threat of new substitutes: Threat of substitutes is low as there are limited alternatives that can provide the clinical utility of advanced screening technologies.

Competitive rivalry: Intense due to major players investing in innovative tests, partnerships and regional expansion.

SWOT Analysis

Strengths: Non-invasive sample collection. High accuracy of NGS-based screening. Increasing prevalence of genetic disorders.

Weaknesses: Expensive tests. Limited insurance coverage and reimbursement in some countries.

Opportunities: Growing public awareness. Expanding applications in oncology and reproductive health. Partnerships with hospitals and physicians.

Threats: Stringent regulatory processes. Ethical issues concerning incidental findings. Data security and privacy concerns.

Key Takeaways

The global carrier screening market is expected to witness high growth, exhibiting CAGR of 17% over the forecast period, due to increasing awareness about genetic diseases and availability of expanded carrier screening panels.

The North American region currently dominates the carrier screening market due to favorable reimbursement policies and regional presence of leading market players. Asia Pacific is projected to witness fastest growth during the forecast period driven by rising healthcare expenditure and patient population base.

Key players operating in the carrier screening market are 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. Market players are focusing on collaborations, new product launches, and geographic expansion to strengthen their market presence.

Read More

Genetic Screening is the largest segment driving the growth of Carrier Screening Market.


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