(PharmaNewsWire.Com, September 16, 2021 ) According to the new market research report, published by MarketsandMarkets™, the Carrier Screening Market is expected to grow from USD 1.8 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 17.5% during the forecast period.
Growth in the Carrier Screening Market can primarily be attributed to factors such as increasing emphasis on early disease detection and prevention, the high risk of chromosomal abnormalities, and technological advancements in carrier screening, such as the introduction of expanded carrier screening panels.
The expanded carrier screening segment to account for the largest share of the global Carrier Screening Market in 2019.
On the basis of type, the market is segmented into targeted disease screening and expanded carrier screening. The expanded carrier screening segment to account for the largest share of the global Carrier Screening Market in 2019. The largest share of this segment can be attributed to factors such as the increasing use of new high-throughput technologies such as sequencing & microarrays and recommendations for the use of expanded carrier screening.
Browse in-depth TOC on "Carrier Screening Market"
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The hospitals segment accounted for the largest share of the market in 2018.
On the basis of end user, the Carrier Screening Market is segmented into hospitals, physician offices and clinics, reference laboratories, and other end users. In 2018, hospitals formed the largest end-user segment in the Carrier Screening Market. The growing patient population, increase in Medicare reimbursement for clinical tests performed in hospitals, and the emergence of advanced diagnostic tests are some of the key factors driving the growth of this end-user segment.
"The services segment is expected to grow at the highest CAGR during the forecast period."
The Carrier Screening Market is broadly segmented into two major segments - products and services. The services segment is expected to account for the largest market share in the forecast period. The high growth of this segment is attributed to the rising number of testing service providers and the growing volume of tests conducted across the globe.
"In 2018, North America was the largest regional market for carrier screening."
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.
The major companies in the global carrier screening industry include Illumina (US), Natera (US), Fulgent Genetics (US), Sema4 (US), Invitae (US), and LabCorp (US).
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