Rising Prevalence of Genetic Disorders Expected to Augment the Growth of the Carrier Screening Market by 2028

The global carrier screening market is expected to witness remarkable growth owing to the increasing prevalence of genetic disorders over the forecast period. The North America region is expected to have expansive growth opportunities during the estimated timeframe.

According to a report published by Research Dive, the global carrier screening market is expected to generate a revenue of $7,157.60 million and rise at a noteworthy CAGR of 16.20% during the forecast period from 2021-2028.

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Market Dynamics

As per our analysts, with the increasing genetic disorders all across the globe because of the mutation in genes and chromosomes, the market is predicted to see exponential growth during the estimated timeframe. Besides, the increasing awareness about the benefits of early detection and diagnosis of genetic diseases which is mainly performed by the key players of the market is projected to bolster the growth of the carrier screening market over the analysis timeframe. Moreover, the increasing trends of the next-generation sequencing (NSG) technology in carrier screening is expected to fortify the growth of the market during the forecast period. However, the high cost associated with the carrier screening may impede the growth of the market throughout the analysis period.

COVID-19 impact on the Market

The outbreak of the novel coronavirus pandemic imparted a negative impact on the carrier screening market. To break the transmission of COVID-19 transmission, many laboratories were shut down during the period of crisis. Further, the delay in the carrier screening tests due to the increased priority of COVID-19 testing and the unavailability of genetic counselors were the factors affecting the growth of the market during the pandemic period.

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Segments of the Market

The report has divided the carrier screening market into various segments namely type, technology, end-user, and region.

By type, the expanded carrier screening type sub-segment is predicted to generate a revenue of $3,879.70 million over the forecast period. The increasing rate of performing expanded carrier screening among women who are planning for pregnancy and possessing a family history of the genetic disorder is predicted to amplify the growth of the market sub-segment during the estimated timeframe.

By technology, the DNA sequencing sub-segment is expected to garner a revenue of $2,911.20 million during the estimated timeframe. The growing demand for technologies such as sequencing to provide enhanced accuracy than other technologies is predicted to increase the growth of the carrier screening market sub-segment over the forecast period.

By end-user, the hospital sub-segment is expected to generate a revenue of $2,924.40 million during the analysis timeframe. This is mainly because of the highly certified doctors and technicians worldwide. Furthermore, the growing demand for carrier screening due to the greater facility of medical reimbursement is predicted to boost the growth of the carrier screening market sub-segment during the analysis period.

By region, the North America region is predicted to generate a revenue of $2,834.40 million throughout the estimated timeframe. This is mainly due to the increasing prevalence of advanced screening tests across many countries of this region. The increasing demand for carrier screening in the United States is the major factor expected to drive the regional growth of the market during the forecast period.

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Key Players of the Market

The major players of the carrier screening market include Opko Health, Eurofins Scientific, Natera Inc., Invitae Corporation, Fulgent Genetics Inc., Illumina Inc., Quest Diagnostics Incorporated, Myriad Genetics, Luminex Corporation, Thermo Fisher Scientific Inc., and many more. These players are widely working on the development of new business strategies and tactics such as mergers and acquisitions, product development to attain leading positions in the global industry.

In addition, the report also summarizes other crucial aspects including product portfolio, SWOT analysis, latest strategic developments, and the financial performance of the key players.

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