July 23, 2024

Gene Carrier Screening Market is driven by Increasing Awareness About Genetic Disorders

Carrier screening tests analyze genes to determine whether a person carries one abnormal copy of a gene for certain inherited conditions. This type of screening identifies the risk of having a child with a genetic disorder. Carrier screening examines genes for about 100 serious conditions like cystic fibrosis, spinal muscular atrophy, Tay-Sachs disease, and fragile X syndrome. Results indicate if a person is a carrier for a genetic disorder and provides information to help assess the chances of having a child with that condition.

Carrier screening helps expectant or prospective parents determine if they are at higher risk to have a baby with certain genetic or inherited disorders. 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:

Among key trends currently influencing the market, the increasing trend of routine or expanded carrier screening is poised to have significant impact. Previously, carrier screening was available only for select disorders but now expanded panels screen for dozens of conditions. Such expanded screens have become widely accessible and affordable due to advancement in DNA sequencing technologies. Additionally, growing awareness about genetic disorders through social media and genetic counseling is prompting more individuals to undergo carrier screening either prior to pregnancy or early in pregnancy. Increasing consumer advocacy efforts related to genetic diseases are also raising the profile of carrier screening. As screening becomes more mainstream, it is expected that early genetic testing and information will help people make informed family planning choices and enable timely management of high-risk pregnancies.

Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements for infrastructure and R&D. The established players have strong brand recognition and client relationships.
Bargaining power of buyers: There are many players providing carrier screening services. Buyers can negotiate on price and switch between providers easily.
Bargaining power of suppliers: Suppliers of technologies and medical tests have some bargaining power as there are few major players operating in the niche.
Threat of new substitutes: Alternative preconception carrier screening methods can emerge as substitutes. Technological advances may lower testing costs over time.
Competitive rivalry: The carrier screening market is competitive with major global players. Companies compete to introduce advanced tests and expand geographic reach.

Key Takeaways

The global carrier screening market is expected to witness high growth. The market size is projected to reach US$ 2.34 Bn in 2023 and expected to reach US$ 5.12 Bn by 2030, registering a CAGR of 17.% during the forecast period.

Regional analysis: North America dominates the global market currently. The Asia Pacific region is expected to be the fastest growing market owing to rising awareness and improving healthcare infrastructure. Countries like China, Japan and India offer lucrative opportunities.

Key players: 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 players are focusing on expanding their product portfolios and geographic reach through mergers and acquisitions.

*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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