Screening Market Research Report, by Product & Service (Services and Products), Type (Expanded Carrier Screening and Targeted Disease Carrier Screening), Medical Condition (Pulmonary Conditions, Hematological Conditions, Neurological Conditions, and others), Technology (Polymerase Chain Reaction and Microarrays), End-User (Hospitals, Reference Laboratories, Physician Offices, and Clinics and others) and Region (Americas, Europe, Asia-Pacific, Middle East & Africa) - Forecast till 2027
Overview:
The global carrier screening market is expected to surpass a valuation worth USD 4200 million by 2025 and during the forecast period of 2019 to 2025, it will achieve a CAGR of 16.8%. Market Research Future (MRFR) included several reasons like increasing competition among major players, rising genetic disorders and awareness regarding these problems can trigger market growth. Among other factors, increasing the application of latest technologies and government initiatives can be of great importance. Launching of new methods can also impact the market substantially.
However, lack of technical expertise and cost associated with the process can prevent the market from having a smooth growth.
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Segmentation:
The global market for carrier screening can be segmented by services and products, type, and medical conditions for a better assessment of how the market may shape up in the coming years.
By services and products, the global market for carrier screening has been segmented into products and services. The services segment is expected to be the fastest-growing one during the forecast period, with the rise in laboratories offering this service.
By type, the global market study covers expanded carrier screening and targeted carrier screening as major segments. The expanded carrier screening includes predesigned panel testing and customized panel testing. This segment is the largest in terms of market valuation.
By medical conditions, the global market includes pulmonary conditions, neurological conditions, hematological conditions, and others. The hematological conditions segment is the largest in terms of revenue. The pulmonary conditions segment is slated to be the fastest-growing during the forecast period.
Regional Analysis:
The Americas, with the help of the US and Canada, will rule the market in the coming days. Infrastructural benefits, higher cash influx, and better market awareness would boost the growth of the market. Asia Pacific is slated to be the fastest-growing during the forecast period.
Competitive Landscape:
The global market for carrier screening is getting thrust from several influential players like Eurofins Scientific (Luxembourg), Invitae Corporation (US), Opko Health (US), Fulgent Genetics Inc (US), Quest Diagnostics Incorporated (US), Sema4 (US), Myriad Genetics (US), Illumina Inc (US), Thermo Fisher Scientific Inc (US), and others. These companies are impacting the global market with their plans for portfolio expansion and increasing the market reach through mergers, collaborations, innovations, and acquisitions as major impacting factors. They have also increased their research and development spending to get into better shape. Launching and branding of new products and creating awareness regarding that will also give these companies significant mileage. MRFR made a list of the recent changes made by these companies to simplify market understanding.
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Industry News:
In June 2020, researchers in Australia came forward with a Mackenzie's Mission Trial worth USD 20 million. The trial is a preconception carrier testing that targets around 10,000 couples for conditions like fragile X syndrome, cystic fibrosis, spinal muscular atrophy (SMA), and Cooper’s mitochondrial complex 1 deficiency. This trial would be the first step to provide couples with an opportunity where they can undergo a process to understand how much risk their baby may have due to some unheard of genetic mutations. In most cases, parents know nothing about their own genetic conditions and they pass that on to their offspring. This makes life difficult for the child. The Australian government wants this to be included in the regular screening procedures within the next 10 years. The process will witness the inclusion of institutes like the Australian Genomics research network with laboratories that operate in the ACT, Victoria, NSW, and Western Australia.
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