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Prenatal Testing & Newborn Screening Market Growth Analysis, Latest Trends And Business Opportunity 2024 To 2033
Prenatal Testing & Newborn Screening Global Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Prenatal Testing & Newborn Screening industry. This report on Prenatal Testing & Newborn Screening market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The prenatal testing & newborn screening market size has grown rapidly in recent years. It will grow from $5.52 billion in 2023 to $6.2 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to advancements in genetic testing, increased maternal age, awareness and education, healthcare policy and regulations.
The prenatal testing & newborn screening market size is expected to see rapid growth in the next few years. It will grow to $9.76 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to genetic counseling, technological advancements, point-of-care testing, telehealth and remote monitoring. Major trends in the forecast period include non-invasive prenatal testing (nipt), preimplantation genetic testing (pgt), telemedicine consultations, maternal blood testing, hemoglobinopathies and sickle cell screening.
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Key Market Players:
PerkinElmer Inc., Laboratory Corporation of America Holdings (LabCorp), Natera Inc., Invitae Corporation, Centogene AG, Cradle Genomics Inc., Roche Diagnostics International AG, Quest Diagnostics Incorporated
Market Drivers:
According to the Prenatal Testing & Newborn Screening Market Report 2023 by The Business Research Company, The use of machine learning and artificial intelligence is gradually gaining popularity in the prenatal testing & 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 & 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.
More information about the Global Prenatal Testing & Newborn Screening Market Report -
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Market segments for Prenatal Testing & Newborn Screening include:
1) By Diagnostic Type: Non-Invasive, Invasive
2) By Technology: Screening Technology, Diagnostic Technology
3) By End user: Hospitals, Diagnostic centers
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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Browse More Reports:
Non-invasive Prenatal Testing Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/non-invasive-prenatal-testing-global-market-report
Epigenetics Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/epigenetics-global-market-report
Gene Editing Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/gene-editing-global-market-report
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