Artificial Intallegence is fastest growing segment fueling growth of Carrier Screening Market

 

Carrier Screening Market

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 17.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Carrier screening identifies genetic changes that could put individuals at risk to pass on genetic diseases to their children. Individuals undergo a blood or saliva sample screening for genetic mutations for various inherited conditions. Carrier screening provides advantages of early detection and prevention of genetic diseases before or during pregnancy.

Market key trends:

Artificial intelligence is playing a major role in carrier screening by helping in analyzing genetic data and enable precise diagnosis. Researchers are developing AI algorithms that can scan vast genetic databases and identify new associations between certain traits and mutations. AI is increasing speed and accuracy of results in carrier screening by analyzing enormous genetic datasets. Advancements in whole genome sequencing technologies is allowing detection of more genetic variants linked with diseases. Increasing availability of affordable direct-to-consumer carrier screening kits is boosting market growth. Direct marketing and growing healthcare expenditure in developing nations is expanding market reach.

Segment Analysis

The global carrier screening market is segmented into technology, type, medical condition, end-user, and region. Based on technology, the market is divided into DNA sequencing, polymerase chain reaction, microarrays, and other technologies. DNA sequencing dominated the market in 2022 owing to its superior accuracy and ability to screen for multiple conditions simultaneously with a single test.

Key Takeaways

The global carrier screening market size is expected to witness high growth, exhibiting a CAGR of 17% over the forecast period, due to increasing awareness regarding genetic disorders and growing fertility tourism.

Regional Analysis

North America dominated the global market in 2022 and is expected to maintain its leading position over the forecast period. Higher adoption of advanced carrier screening technologies and increasing privatization in healthcare are driving the North American market. Asia Pacific is projected to exhibit the fastest growth during the forecast period owing to rising healthcare expenditure and growing focus of key players on opportunities in China, India, and Japan.

Key Players

Key players operating in the carrier screening market are Myriad Genetics, Inc, Cepheid, Illumina, Thermo Fisher Scientific Inc., F.Hoffmann-La Roche Ltd, Laboratory Corporation of America Holdings, Otogenetics, MedGenome, GeneTech, and Centogene N.V. Myriad Genetics and Illumina are the market leaders due to their extensive product portfolios and global presence. Product innovation and expansion in emerging markets are the focus areas for key players to sustain their market position.

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