Report : Prenatal and Newborn Genetic Testing Market to 2027 - Global Analysis and Forecasts By Product (Diagnostic, and Screening), Disease (Cystic Fibrosis, Sickle Cell Anemia, Downs Syndrome, Phenylketonuria, and Other Disease), End User (Hospitals and Clinics, Diagnostic Centers, and Other End User) and Geography
The growth of screening segment is expected to be responsible for the growth of global prenatal and newborn genetic testing market.
According to The Insight Partners market research study titled Prenatal and Newborn Genetic Testing Market - Global Analysis and Forecasts by Product, Disease Indication and End User. The Global Prenatal and Newborn Genetic Testing Market is expected to reach US$ 11,204.7 Mn in 2027 from US$ 4,034.4 in 2018. The market is estimated to grow with a CAGR of 12.2% from 2019-2027. The report highlights the trends prevalent in the global prenatal and newborn genetic testing market and the factors driving the market along with those that act as deterrents to its growth.
On basis of product, the global prenatal and newborn genetic testing market was segmented into screening and diagnostics. In 2018, the screening segment held the largest market share of 59.1% of the prenatal and newborn genetic testing market, by product. Moreover, the same segment is also expected to witness the highest CAGR over the coming years owing to the factors such as increasing number of pregnant females adopting prenatal screening, increased mandatory regulations for newborn screening tests and others. Moreover, screens are the first line tests that pregnant and newborn undergo that also adds up to the major share of the market and its dominance in the global market.
Key factors driving the growth of the market are a high prevalence of genetic diseases in infants, support from government to promote prenatal and newborn genetic test, and increase the birth rate in various countries across the globe. On the other hand, emerging market in developing countries is likely to offer growth opportunities that are operating in the global prenatal and newborn genetic testing market.
Some of the prominent players operating in prenatal and newborn genetic testing market are, Abbott, Quest Diagnostics Incorporated, Ravgen, Bio-Rad Laboratories, Inc., Illumina, Inc., F. Hoffmann La-Roche Ltd., Qiagen, Berry Gene, PerkinElmer, Inc., Natera, Inc., and Laboratory Corporation of America Holdings (Sequenom) among others. The market players are focused on bringing new and innovative products and services through various inorganic strategies such as acquisitions and mergers to sustain their position in the market. For instance, in September 2016, Laboratory Corporation of America (LabCorp) completed the acquisition of Sequenom, a genetic diagnostic company that offers diagnostic testing applications as well as genetic analysis products. LabCorp aims to establish a footprint into the prenatal and genetic diagnostic testing market through this acquisition.
Global Prenatal and Newborn Genetic Testing Market, By Regions, 2018 (%)
The report segments the global prenatal and newborn genetic testing Market as follows:
Global Prenatal and Newborn Genetic Testing Market – By Product
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