Pediatric And Neonatal Testing Kit Market 2024 - By Size, Trends, Opportunities And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Pediatric And Neonatal Testing Kit Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $5.51 billion In 2028 At A CAGR Of 8.2%.

The pediatric and neonatal testing kit market size has grown strongly in recent years. It will grow from $3.7 billion in 2023 to $4.02 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to advancements in pediatric and neonatal care, increased focus on child health, expansion of healthcare infrastructure, growing awareness of prenatal testing, evolving regulatory landscape.

The pediatric and neonatal testing kit market size is expected to see strong growth in the next few years. It will grow to $5.51 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rise in demand for non-invasive testing methods, expansion of point-of-care testing in pediatrics, increasing investments in neonatal and pediatric research, adoption of digital health solutions. Major trends in the forecast period include development of rapid and accurate testing kits, implementation of next-generation sequencing in pediatric diagnostics, expansion of newborn screening programs, increasing focus on metabolic testing in neonates, integration of artificial intelligence in diagnostic tools.

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Pediatric And Neonatal Testing Kit Market Major Segments
The pediatric and neonatal testing kit market covered in this report is segmented -

1) By Test Type: Dried Blood Spot, Hearing Screening, Critical Congenital Heart Defect (CCHD), Other Test Types
2) By Product: Assay Kits And Reagents, Instruments
3) By Technology: Tandem Mass Spectrometry, Pulse Oximetry, Enzyme-Based Assays, DNA Based Assays, Electrophoresis, Others Technologies
4) By End User: Hospitals, Diagnostic Centers, Maternity And Specialty Clinics, Other End Users

Key Driver - Growing Prevalence Of Congenital Disorders Fuels Expansion Of Pediatric And Neonatal Testing Kit Market

The increased prevalence of congenital disorders in newborn babies is driving the pediatric and neonatal testing kit market going forward. Congenital disorders occur during fetal development or are present at birth. Pediatric and neonatal screening is beneficial in detecting the presence of any congenital disabilities and helps healthcare professionals to treat those defects at an early stage. For instance, in February 2023, according to the World Health Organization (WHO), a Switzerland-based specialized health agency of the United Nations, approximately 240,000 babies in the world die within the first 28 days of birth due to congenital disorders every year. About 170,000 children die between the ages of 1 month to 5 years due to congenital conditions. Further, in December 2022, according to the European Commission, a Europe-based independent executive arm, the prevalence of anomalies per 10,000 in 2020 was 253.38, and termination of pregnancy for the congenital anomaly (TOPFA) was 58.22 in 2020. Therefore, the increasing prevalence of congenital disorders drives the pediatric and neonatal testing kits market.

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Prominent Trend - Calmark Introduces Innovative Neo-Bilirubin Screening Kit For Newborns

The development of novel screening tests is a key trend gaining popularity in the pediatric and neonatal testing kits market. Major companies in the market are focusing on developing novel screening kits, such as Calmark Neo-Bilirubin, on sustaining their position in the market. For instance, in April 2020, Calmark, a Sweden-based diagnostics company, announced that its product Calmark Neo-Bilirubin had received regulatory approval and a CE mark from the European Union. The new product is a point-of-care diagnostic system for measuring bilirubin in newborns. Contrary to traditional test methods, the new creation has a high tolerance to hemolysis and can produce accurate results at up to 60% hematocrit. It is specially designed for use in hospital environments and approved by NEST360 Qualified for better quality and safety.

Pediatric And Neonatal Testing Kit Market Players
Major companies operating in the pediatric and neonatal testing kit market report are F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic Plc, Siemens Healthineers, GE Healthcare GmbH, Eurofins Scientific SE, Trivitron Healthcare Pvt Ltd., Hologic Inc., PerkinElmer Inc., Quidel Corporation, Bio-Rad Laboratories Inc., QIAGEN NV, Masimo CareDx Inc., Natus Medical Incorporated, BioFire Diagnostics LLC, Luminex Corporation, Meridian Bioscience Inc., Advanced Instruments LLC, MP Biomedicals LLC, ELITech Group SAS, Baebies Inc., iHealth Labs Inc, Labsystems Diagnostics Oy, Advacare Pharma LLP, Beckman Coulter Inc., JETA Molecular BV, EpigenTek Group Inc., ZenTech SA, Hangzhou Testsea Biotechnology Co. Ltd.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the pediatric and neonatal testing kit market in 2023. The regions covered in the pediatric and neonatal testing kit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pediatric And Neonatal Testing Kit Market Report Structure
3. Pediatric And Neonatal Testing Kit Market Trends And Strategies
4. Pediatric And Neonatal Testing Kit Market - Macro Economic Scenario
5. Pediatric And Neonatal Testing Kit Market Size And Growth
…..
27. Pediatric And Neonatal Testing Kit Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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