Prenatal and New-Born testing is an advanced technology used for genetic screening in the healthcare industry to identify the genetic or other birth defects in newborn baby at early stage. The test is conducted during time interval of pregnancy to determine the health of the fetus at an early stage and helps in identifying various genetic and chromosomal anomalies such as birth defects, gene mutations and cystic fibrosis etc. Therefore, such advent features of prenatal and new-born genetic testing helps parents to detect early abnormal diseases in fetus to take suitable treatment. Hence, rapid growth in birth of abnormal kids along with rising cases of new-born babies with genetic disorder is expected to drive the growth of market over the forecast years.
According to the study,’ Global Prenatal and New-born Genetic Testing Market is valued approximately USD 13.98 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.9% over the forecast period 2019-2026’ the firms have implemented strategic decisions that include new product launches in the field of prenatal testing. New product launches and new product development in the field of non-invasive prenatal testing coupled with merger and acquisitions have helped the companies expand their abilities and sustain in the market by providing best solutions to pharmaceutical firms. Some of the leading players include Abbott Laboratories, Agilent, Auto Genomics, Ariosa Diagnostics, Baebies, Berry Genomics Co. Ltd, BGI, Biocartis Group NV, Natera Inc. and Sequenom Inc. For instance: as per the World Health Organization, over an estimate 303000 new-borns die within 4 weeks of birth every year globally due to the congenital anomalies. Also, as per the Centres of Diseases Control, birth defects affect one in every 33 babies (about 3% of all babies) born in the United States each year and is a leading cause of infant deaths, accounting for 20% of all infant deaths. Thus, increase in cases of birth defects in new-born baby and remarkable application of Prenatal and New-born Genetic Testing to identify it at an early stage are the factors accelerating the growth of market over the forecast years. However, lack of advanced infrastructure and skilled labor in developing region are the factors that hamper the growth of market.
The world prenatal and new-born genetic testing is segmented into four major regions such as Europe, North America, Asia Pacific, Latin America and remainder of the world. The North American is anticipated to be most dominant market due to favorable government initiatives towards proper diagnosis and screening of genetic abnormalities and the presence of advanced technologies such as multiplex PCR technologies and real time PCR equipment.
Furthermore, the Asia Pacific market is expected to show moneymaking growth during the forecast amount because of the development of various plans and policies of government, improvements in healthcare services, increasing awareness of genetic disease diagnosis, and increasing economic development. The detailed segments and sub-segment of the market are explained below: By Technology into Screening and Diagnostic. By Diseases into Downs Syndrome, Phenylketonuria, Cystic Fibrosis, Sickle cell Anaemia and Others. By End-Use into Hospitals, Maternity and Specialty Clinics and Diagnostic centers
Moreover, with the emergence of advanced technologies such as next generation sequencing, high throughput screening (HTS), and cell free fetal DNA, there has been a rise in the overall demand of the newly developed prenatal diagnosis and new-born screening tests. Further, increasing prevalence of genetic diseases such as Down syndrome, Edward syndrome and patau syndrome and rising awareness among population and also rising demand for prenatal testing for identifying genetic abnormalities are the factors which is anticipated for the growth of the market during the forecast amount.
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Ankur Gupta, Head Marketing & Communications