DUBLIN--(BUSINESS WIRE)--The "Global Carrier Screening Market By Technology, By End user, By Regional Outlook, Industry Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Carrier Screening Market size is expected to reach $2,501.94 million by 2027, rising at a market growth of 10.81% CAGR during the forecast period.
Key Market Players
- Quest Diagnostics, Incorporated
- Thermo Fisher Scientific
- Illumina, Inc.
- Eurofins Scientific Group
- Invitae Corporation
- OPKO Health, Inc.
- Fulgent Genetics
- Sema4 OpCo, Inc.
- Myriad Genetics, Inc.
- Natera, Inc.
The rise in awareness regarding the possibility of transferring the genetic diseases is seen in the healthcare sector among the end-users. To tackle this, end-users have become more careful, with a desire to detect and avoid these diseases at their early phase. These factors are anticipated to boost the growth and demand for the carrier screening market during the forecast period. In the last couple of years, the overall carrier screening market has seen huge popularity due to its advantages. Moreover, the adoption rate of carrier screening and testing is expected to increase due to the rise in the number of patients with genetic disorders.
COVID-19 Impact Analysis
The onset of the COVID-19 pandemic was in the Wuhan city of China. The disease is occurred by a virus, extreme acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transferred among humans. Since the beginning of the virus in Wuhan, the disease increasingly spread to other regions of the world. In addition, this virus causes several symptoms in patients, which may vary from common symptoms to severe symptoms. For example, common symptoms may include dry cough, fever, and fatigue. Though, several symptoms include problems in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement.
Moreover, the virus has the massive potential of mortality in a geriatric population. In March 2020, the World Health Organization (WHO) declared COVID-19 as a global pandemic and health emergency. Additionally, there are only some vaccines that got emergency approvals for the treatment and prevention of COVID-19. Hence, social distancing is considered the most effective step to curb the spread of the deadly virus. Further, numerous countries globally have embraced stringent lockdown conditions to maintain social distancing norms.
Market Growth Factors:
Well-established Healthcare Infrastructure
Many countries are focusing on building sophisticated healthcare infrastructure which is equipped with advanced screening and treatment procedures. In addition, nations in the developed countries have advanced healthcare infrastructure, which are integrated with different types of carrier screening procedures, thereby propelling the growth and demand for carrier screening techniques across such countries. Moreover, many individuals want to know the possibility of transmission of their genetic or hereditary diseases to their offerings. Therefore, these factors are anticipated to unlock bright growth prospects for the players operating in the overall carrier screening market during the forecasting period.
Increasing cases of genetic diseases
The demand and growth of the carrier screening market is expected to be fueled by the increase in the prevalence of genetic diseases around the globe. This is due to the possibility and severity of these diseases based on the carrier status of parents and their ancestors. The American College of Obstetricians and Gynecologists suggests the testing of all pregnant women and those thinking of motherhood in the near future to recognize the possibilities of these illnesses, specifically cystic fibrosis, fragile X syndrome, and spinal muscular atrophy (SMA), at an early stage.
Marketing Restraining Factor:
Low awareness and lack of trained professionals
As cell therapies are gaining more popularity, the automated processing systems market needs more skilled professionals to carry out these therapies and operate automated systems. However, the dearth of skilled professionals is estimated to hinder the growth of the Carrier Screening Market over the forecast period. In addition, the usage of technologically advanced and highly complicated flow cytometers and spectrophotometers for generating a huge amount of data outputs require knowledge for interpreting and reviewing is expected to hinder the market growth.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2017, Jun - 2021, Jun) Leading Players
Chapter 4. Global Carrier Screening Market by Type
Chapter 5. Global Carrier Screening Market by End user
Chapter 6. Global Carrier Screening Market by Region
Chapter 7. Company Profiles
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