U.S. Carrier Screening Market to Reach USD 2.14 Billion, by 2031 at 14.4% CAGR: Allied Market Research
Increase in the prevalence of genetic disorders, increase in awareness among people about the early detection of the genetic diseases, and surge in technological advancements in the field of carrier screening drives the growth of the U.S. carrier screening market.
PORTLAND, Ore., Feb. 14, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "U.S. carrier screening Market by Type (Expanded Carrier Screening and Targeted Disease Carrier Screening), by Technology (DNA Sequencing, Polymerase Chain Reaction, Microarrays and Others), by End User (Hospitals & Clinics, Reference Laboratories, Physician Offices and Others): Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the U.S. carrier screening industry generated $585.46 million in 2021, and is estimated to reach $2.14 billion by 2031, witnessing a CAGR of 14.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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Drivers, Restraints, and Opportunities
Increase in the prevalence of genetic disorder, increase in awareness among people about the early detection of the genetic diseases, and surge in technological advancements in the field of carrier screening drive the growth of the U.S. carrier screening market. On the other hand, the lack of skilled professionals impedes the growth to some extent. However, significant investments by the government to improve healthcare infrastructure and emerging new cases of genetic diseases are expected to create lucrative opportunities in the industry.
Impact of Covid-19 Pandemic on Carrier Screening Market in United States-
- The disrupted healthcare services including genetic counseling, resulted in a reduction in the patient influx to genetic counselors had a negative impact on the U.S. carrier screening market, especially during the lockdown period.
- However, during the year 2021, the market started recovering at a full scale.
The expanded carrier screening segment to maintain its dominance during the forecast period
By type, the expanded carrier screening segment held the major share in 2021, accounting for more than two-fifths of the U.S. carrier screening market revenue. The same segment would also cite the fastest CAGR of 15.2% throughout the forecast period. Rise in the prevalence of chromosomal disease and genetic disorders, such as cystic fibrosis and sickle cell anemia drives the segment growth.
The DNA sequencing segment to rule the roost
By technology, the DNA sequencing segment accounted for the highest revenue in 2021, contributing to nearly two-fifths of the U.S. carrier screening market share. The DNA sequencing segment would portray the CAGR of 14.8% throughout the forecast period. This is due to the increasing need for personalized medicine and rise in technological advancement, that has led to the development of more effective treatments and therapies, which are helping to improve patient outcomes and reduce healthcare costs have boosted the demand for DNA sequencing, thus fueling the segment growth.
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The hospitals and clinics segment held the lion's share in 2021
By end-user, the hospitals and clinics segment garnered the major share in 2021, generating more than two-fifths of the U.S. carrier screening market revenue. The hospitals & clinics segment would also display the CAGR of 13.6% throughout the forecast period. The rise in the prevalence of chronic and genetic disorder, rise in the awareness among pregnant women and increase in the number of patients visit to the hospital for carrier screening owing to the importance of carrier screening for the early diagnosis of chromosomal and genetic disorders are the major factors expected to boost the growth of the market.
Leading Market Players-
- Invitae Corporation
- Illumina Inc.
- PerkinElmer Inc.
- Myriad Genetics, Inc.
- Quest Diagnostics Incorporated
- Thermo Fisher Scientific, Inc.
The report analyzes these key players in the U.S. carrier screening market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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