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Prenatal Testing & Newborn Screening Global Market Report 2023
Major players in the prenatal testing and newborn screening market are PerkinElmer, Progenity, Laboratory Corporation of America Holdings (Sequenom), Natera, Invitae, Centogene, Cradle Genomics, Roche Diagnostics, Quest Diagnostics and Baebies.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Prenatal Testing & Newborn Screening Global Market Report 2023" - https://www.reportlinker.com/p06229189/?utm_source=GNW
The global prenatal testing & newborn screening market is expected to grow from $4.49 billion in 2021 to $5.04 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The prenatal testing and newborn screening tests market is expected to reach $7.98 billion in 2026 at a CAGR of 12.2%.
The prenatal testing and newborn screening tests market includes revenues earned by entities by providing blood test services, hearing test services, CCHD screening tests, and non-invasive tests.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Prenatal testing and newborn screening tests are diagnostic tests to detect any possible birth defects that may be there in the baby. These are useful in determining the health of the baby.
North America was the largest region in the prenatal testing and newborn screening market in 2022.Western Europe was the second largest region in the prenatal testing and newborn screening market.
The regions covered in the prenatal testing and newborn screening tests market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main diagnostic types of prenatal testing and newborn screening are non-invasive and invasive.Invasive diagnostic testing necessitates puncturing the skin or invading the body.
A few examples include blood testing, biopsies, and colonoscopies. The different technologies include Screening technology, diagnostic technology and is used in various sectors such as hospitals, and diagnostic centres.
The high prevalence of genetic diseases in infants contributed to the growth of the prenatal testing and newborn screening market.According to the World Health Organization, genetic disease includes diseases such as Thalassemia, Sickle Cell Anaemia, Haemophilia, Cystic Fibrosis, Tay Sachs disease, Fragile X Syndrome, Huntington’s disease.
The sickle cell anaemia is one of the genetic diseases that affects millions throughout the world, and the disease is particularly common among people whose ancestors are from Africa, America, Cuba, Central America, Saudi Arabia, and India.According to data published in 2020 by the Centres for Disease Control and Prevention, a national public health agency of the United States, 5,568 babies were affected by Trisomy 21 (Down syndrome), 1,187 babies were affected by Trisomy 18 (Edwards syndrome), and 531 babies were affected by Trisomy 13 (Patau syndrome).
The high prevalence of genetic diseases in infants boosted the demand for prenatal testing and newborn screening market.
Growth of the prenatal testing and newborn screening market may be hampered by the relatively low healthcare access in most developing countries, compared to the developed nations. For instance, in India, there were only about 1.9 million hospital beds for 1.33 billion people, as of 2020. Low access to healthcare services and the lack of sufficient hospitals and healthcare professionals harmed market growth in many developing nations. Moreover, low disposable income in many countries further lowers the access to healthcare services, thus negatively hampering the growth of the prenatal testing and newborn screening market.
The use of machine learning and artificial intelligence is gradually gaining popularity in the prenatal testing and newborn screening market.Artificial intelligence (AI) is the simulation of human intelligence in machines.
Machine learning is a part of AI.Machine learning and AI help companies in the prenatal testing and newborn screening market to conduct a detailed analysis of all relevant data, provide insights about different diseases, and offer a more accurate evaluation of tissue samples.
For instance, In September 2021, Sema4, a US-based AI-driven genomic and clinical data intelligence platform company, launched Sema4 Elements. Sema4 Elements are genetic solutions that are information-driven, digital tools for patients and providers, and services that let doctors manage patients holistically throughout their journeys with reproductive and generational health, using artificial intelligence.
In March 2020, Thermo Fisher Scientific Inc announced its decision to acquire Qiagen for $11.5 billion. Thermo Fisher has a specialty diagnostics capability, that includes allergy, autoimmunity, transplant diagnostics, and oncology testing. The acquisition is expected to complement Thermo Fisher’s genetic analysis and bioscience capabilities. Qiagen is a Germany-based genetic tester that was founded in 1984 and operates more than 35 offices in over 25 countries.
The countries covered in the prenatal testing and newborn screening market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.It does not include revenues from resales either further along the supply chain or as part of other products.
The prenatal testing and newborn screening tests market research report is one of a series of new reports that provides prenatal testing and newborn screening tests market statistics, including prenatal testing and newborn screening tests industry global market size, regional shares, competitors with prenatal testing and newborn screening tests market share, detailed prenatal testing and newborn screening tests market segments, market trends and opportunities, and any further data you may need to thrive in the prenatal testing and newborn screening tests industry. This prenatal testing and newborn screening tests market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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