”, the prenatal testing market and newborn screening market is estimated to reach $13.176 Billion and 2.014 Billion at a CAGR of 19.32% and 15.26% respectively by 2023.
Americas continues to lead the market share during 2018-2023
Americas dominates the overall revenue in prenatal and newborn care, followed by the European region. Asia-Pacific is poised to grow at the highest CAGR during the forecast period owing to the support provided by foreign countries for enhancing screening services.
Americas is the leading market for Prenatal Testing and Newborn Screening market and is forecasted to have high growth in the recent years due to the increase in the adoption of prenatal testing and newborn screening by major companies. The Investments in R&D by the governments and major players in this region are projected to boost the market growth during the forecast period. Demand from the North America is driving prenatal testing and newborn screening markets. In this region, prenatal testing are not only propelling the growth, it is also leading to the use of more developed technologies in the testing process. The market has achieved huge growth mainly due to the benefits offered by newborn screening programs, legislations and mandates, technological advancements, government support, expanding panel of newborn diseases, and conferences and symposiums related to the use of new technologies. The growth of the market in this region is reinforced by the increasing demand of the patients for safe tests techniques for genetic disorders or any abnormality in the patient. U.S. is one of the leading countries in the Americas that has hastened the growth of the market.
Rising importance of healthcare in women and newborn-growing nations such as India, Brazil, and China are expected to drive the demand for prenatal and newborn testing among the hospitals in the Asia Pacific and South American region during the forecast period. Asia-Pacific is estimated to be the fastest-growing region, due to the push from the regional hospitals for screening and testing and the availability of doctors at a cheaper cost. Prenatal testing and newborn screening is widely adopted in many parts of the world as it focuses toward providing effective diagnosis to various genetic disorders and chromosomal abnormalities. It also involves early screening, diagnosis and management of selected genetical diseases.
Selected Type of Value Chain Analysis done in the full Report:
The value chain analysis deals with the comprehensive evaluation of each activity involved in the processing of any product/service and finally delivering it to the end-users. Each stage across the value chain of a product or service is associated with creating some sort of monetary value. The value chain analysis can offer the company to examine every activity across the value chain and identify the steps where elimination or modification is essential.
The value chain of the prenatal testing and newborn screening involves various stages such as research and development, regulatory bodies, distributors and end users.
Initially, the sample is prepared by the manufacturer based on R&D and undergoes various phases of examination by regulatory bodies. It gets approved once it passes all the phases of the regulatory bodies. These approved prenatal testing and newborn screening are produced in bulk and are distributed directly or indirectly to the end users.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
1. The newborn screening market is expected to have tremendous growth due to increase in the incidence of neonatal diseases, rapid innovations in medical field, and government initiatives in spending for research and development.
2. With the emergence of advanced technologies such as next generation sequencing, high throughput screening, and cell free fetal DNA, there has been a steady growth in the overall demand of the newly developed prenatal diagnosis and newborn screening tests.
3. Rising government initiatives in creating awareness regarding neonatal hereditary diseases has increased the demand for prenatal testing and newborn screening in the global market.
4. Newborn genetic testing to identify genetic disorders is a major public health success, saving lives and preventing disability in thousands of infants each year and thus, registering great demand and growth for the market.
5. Growing importance of safe testing procedures across the region, advanced technology, and low cost are the major factors that have led to the growth of the Prenatal Testing & Newborn Screening Market.
6. The Investments in R&D by the governments and major players are projected to boost the Prenatal Testing & Newborn Screening Market growth during the forecast period.
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Key Players of the Prenatal Testing & Newborn Screening Market:
F. Hoffmann-La Roche Ltd and Abbott are the dominant players in the Prenatal Testing and Newborn Screening Market, followed by Beckman Coulter Inc
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