The rising incidence of genetic diseases is one of the biggest factors responsible for the surge in the adoption of carrier screening processes across the world. The risk and severity of most of the genetic diseases depend on the patient’s ancestors and carrier status. The American College of Obstetricians and Gynecologists recommends the testing of all pregnant women and those considering motherhood in future in order to detect early the risk of various diseases such as fragile X syndrome, spinal muscular atrophy (SMA), and cystic fibrosis.
Due to the above-mentioned factors, the global carrier screening market attained a valuation of $1,303.6 million in 2019 and is expected to exhibit a CAGR of 10.9% during the forecast period (2020–2030). There are mainly two types of carrier screening methods used for detecting genetic diseases — expanded carrier screening and targeted carrier screening. Of these, the expanded carrier screening method recorded higher utilization in 2019. This is ascribed to the fact that this method of carrier screening makes it possible to test for multiple diseases at the same time.
To Learn more About this report: https://www.psmarketresearch.com/market-analysis/carrier-screening-market/report-sample
Carrier screening is being widely adopted in hospitals, laboratories, and clinics. Amongst these, the hospitals are expected to register the fastest growth in the adoption of carrier screening methods during the forecast period. This is primarily attributed to the increasing usage of genetic disease testing kits by experienced medical practitioners in hospitals. In addition to this, there has been a huge rise in the number of insurance firms offering reimbursements for genetic disease tests conducted in hospitals, which is massively boosting the adoption of carrier screening methods in these healthcare settings.
One of the major trends currently being witnessed in the carrier screening market is the increasing acquisition of smaller organizations providing solutions for carrier screening tests by the larger biotechnology companies. For instance, Quest Diagnostics Inc. announced its acquisition of a specialist genetic testing solutions company called Blueprint Genetics in January 2020, in order to attain expertise in pharmaceutical drug research and development (R&D), rare genetic diseases, and in the various methods of improving patient care.
Pre-Purchase Inquiry at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=carrier-screening-market
Invitae Corporation, Illumina Inc., Thermo Fisher Scientific Inc., Otogenetics Corporation, Myriad Genetics Inc., Luminex Corporation, Gene By Gene Ltd., MedGenome Inc., Natera Inc., Laboratory Corporation of America Holdings, and Mount Sinai Genomics Inc. are the key global carrier screening market players.
Market Size Breakdown by Segment
Based on Type
Based on Application
Based on Technology
Based on End User
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.