April 18, 2024

Carrier Screening Market is Propelled by Rising Adoption Of Personalized Medicine

Carrier screening, also known as carrier testing, is a genetic test that identifies changes in certain genes that could cause severe genetic disorders. Genetic counselors and obstetricians commonly recommend carrier screening for conditions such as cystic fibrosis, spinal muscular atrophy, and fragile X syndrome to expectant or prospective parents of any ethnic background. 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 key trends:
The rising adoption of personalized medicine is one of the major drivers fueling growth of the carrier screening market. Personalized medicine involves tailoring medical treatment to the individual characteristics of each patient. It helps determine which medical approaches and treatments will work best depending on the patient’s genetic makeup. As carrier screening provides critical genetic information that helps doctors personalize treatment and prevent transmission of genetic disorders to offspring, its demand has increased significantly in the recent years. With continued technological advancements in genetic testing and rapidly declining sequencing costs, carrier screening is expected to become a routine preconception or early prenatal screening test going forward.

SWOT Analysis
Strength: The carrier screening market enables early detection of genetic abnormalities allowing patients to make informed family planning decisions. It helps reduce medical burden related to genetic disorders.
Weakness: Low awareness among populations in developing nations regarding benefits of carrier screening. High cost of tests limits widespread adoption.
Opportunity: Rise in focus on preventive healthcare augments scope for carrier screening. Growing trend of late pregnancy increases risks, creating demand.
Threats: ethical and social concerns around selective pregnancy termination. Some conditions have incomplete expressivity or variable expressivity posing interpretation challenges.

Key Takeaways

The global carrier screening market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is estimated to reach US$ 2.34 Bn by 2023 growing at a CAGR of 17%.

Regional analysis: North America currently dominates the global carrier screening market accounting for over 35% share in 2023. Rising awareness about genetic disorders, favourable reimbursement policies drive regional growth. Asia Pacific is expected to be the fastest growing market owing to rising healthcare expenditure and increasing late pregnancies.

Key players operating in the carrier screening market are 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). The key players are focusing on launching new test panels, geographical expansion and M&A activities to strengthen their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it

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