Newborn Screening Market to Reach Prominence, Expected to Hit $2.49 billion by 2030, Notes Meticulous Research®

[Redding, California] - Meticulous Research®, a leading provider of market intelligence solutions, forecasts a significant surge in the newborn screening market, projected to attain a valuation of $2.49 billion by 2030, boasting an anticipated CAGR of XX% during the forecast period from 2023 to 2030. The burgeoning neonatal population, coupled with governmental focus on bolstering newborn screening initiatives, and an upsurge in birth rates amidst rising incidences of neonatal disorders are prime catalysts propelling the market growth.

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Navigating Through the Impact of COVID-19 on the Newborn Screening Market

Newborn screening serves as a lifeline for neonates vulnerable to congenital diseases, enabling timely diagnosis and intervention. However, the COVID-19 pandemic wreaked havoc on global public health systems, leading to disruptions in newborn screening activities and facilities. Variants of the virus at different stages exacerbated challenges, including limited laboratory resources, shortage of skilled personnel due to infection risks, relocation, or quarantine, and supply chain disruptions within the healthcare domain.

Moreover, the pandemic-induced stringent measures resulted in delays in testing and shortages of essential kits and reagents. The market witnessed setbacks owing to lockdowns, restrictions, and supply chain disruptions. Nevertheless, as the situation stabilizes, the market is poised to regain momentum.

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Segmentation Insights

The global newborn screening market is meticulously analyzed across various segments, including product types, technologies, applications, end-users, and geographical regions:

Product Segment: Consumables, particularly assay kits and reagents, are anticipated to dominate the market owing to increased screening rates globally and recurrent usage.

Technology Segment: Immunoassays & enzymatic assays are expected to hold a significant market share due to their accuracy, quick diagnosis, and cost-effectiveness.

Application Segment: Inherited disorders are slated to command a large market share attributed to the high incidence rates among newborns.

End-user Segment: Hospitals are expected to lead the market owing to advanced healthcare infrastructure and a surge in childbirths.

Geographical Insights: North America is poised to hold the largest market share, followed by Europe, while Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period.

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Key Players

Prominent players shaping the landscape of the global newborn screening market include Thermo Fisher Scientific, Inc. (U.S.), ARCHIMED Group (France), PerkinElmer, Inc. (U.S.), Medtronic plc (Ireland), Trivitron Healthcare Pvt Ltd. (India), Bio-Rad Laboratories, Inc. (U.S.), Demant A/S (Denmark), Baebies, Inc. (U.S.), ZenTech s.a. (Belgium), and F. Hoffmann-La Roche AG (Switzerland).

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This release was published on openPR.