Non-Invasive Prenatal Testing Market Size Powerhouse: Fueling Growth with 13.02% CAGR by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Non-Invasive Prenatal Testing Market By Method (Ultrasound Detection, Biochemical Screening Tests, Cell-Free DNA In Maternal Plasma Tests And Others), End-User (Diagnostic Laboratories, Hospitals, Research Centres And Clinics.), Application (Trisomy, Microdelection Syndrome And Others)- Trends, Industry Competition Analysis, Revenue And Forecast To 2031."

The global non-invasive prenatal testing market is estimated to reach over USD 12.20 billion by 2031, exhibiting a CAGR of 13.02 % during the forecast period.

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Non-invasive prenatal testing, commonly referred to as non-invasive prenatal screening, is a technique for assessing the likelihood of genetic disorders in a fetus. This method of checking for Down syndrome, Patau syndrome, Edwards syndrome, and Turner syndrome, among others, is risk-free and incredibly effective. Small DNA fragments present in pregnant women's blood by week 10 of pregnancy are often analyzed to do this. The industry for non-invasive prenatal testing is expanding due to the high risk of chromosomal abnormalities and the rising maternal age. The need for non-invasive prenatal testing is growing as pregnancy beyond 35 has a higher chance of genetic disorders. To ensure babies' healthy deliveries, obstetricians advise their patients to undergo non-invasive tests more frequently, which drives the industry's expansion.
Additionally, it is anticipated that rising research efforts to create cutting-edge technologies will fuel market expansion. The cost-effectiveness of non-invasive prenatal testing is growing due to technology improvements, which are anticipated to support market expansion in the upcoming years. Increasing government funding for non-invasive prenatal testing research and development (R&D) activities is anticipated to fuel market expansion.

List of Prominent Players in the Non-Invasive Prenatal Testing Market:
Yourgene Health
Illumina Inc.
Agilent Technologies Inc.
Thermo Fisher Scientific Inc.
F. Hoffmann-La Roche Ltd.
Laboratory Corporation of America Holdings
GE Healthcare
PerkinElmer Inc.
BGI
Natera Inc.

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Market Dynamics:
Drivers-
Developing extremely sophisticated screening methods that are highly sensitive and accurate in the early detection of genetic abnormalities in newborns is a continuing priority for many businesses. Manufacturers are placing a lot of emphasis on creating cutting-edge non-invasive prenatal diagnostics and forming strategic alliances and collaborations to boost their market share. Additionally, their acceptance is projected to increase during the projection period due to advantageous reimbursement policies and increased knowledge of the advantages of non-invasive tests over invasive prenatal diagnostics.

Challenges
The use of these tests is likely to be constrained by their high cost, which makes them comparatively unaffordable in many developing nations. In India, the typical price of NIPT is between USD 350 and USD 400, according to a Future Medicine report. This has hampered their adoption in developing nations. Growth would also be hindered by the general lack of knowledge about the risks of genetic disorders among the populace in emerging countries. The reduced per capita healthcare spending and the inadequate test reimbursement policies are two additional factors that could restrain the growth of the worldwide non-invasive prenatal testing market.

Regional Trends:
The North American non-invasive prenatal testing market is expected to register a significant market share in revenue and is projected to grow at a high CAGR shortly due to an increase in genetic problem deliveries, a need for novel screening techniques, and rising payer reimbursement for the associated risk during pregnancy. According to research done by the Health Expense Institute, North America's non-invasive pregnancy testing market is anticipated to gain from the average USD 4,879.0 spent on children's healthcare annually in the U.S. The major companies' increased emphasis on broadening their product lines is fueling the market's growth and significantly driving up demand for non-invasive prenatal testing. Besides, Asia Pacific had a substantial share in the non-invasive prenatal testing market due to the growing incidence of chromosomal aneuploidies in newborns and the rising maternal age, which have increased the potential client base. The technical integration of NGS techniques, significant advancements in China and Japan, and expanding healthcare infrastructure are anticipated to fuel market expansion.

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Recent Developments:
• In July 2021, Pacific Biosciences and Omniome, a San Diego-based business, inked a binding merger agreement. This partnership will increase sequencing opportunities and benefit customers through creative market expansion strategies.
• In June 2021, VeriSeq NIPT Solution v2 was introduced in Thailand by Illumina, Inc. and Next-Generation Genomic Co., Ltd. End-to-end genome-wide non-invasive prenatal testing is available with VeriSeq NIPT Solution and is accurate, dependable, scalable, and quick.

Segmentation of Non-Invasive Prenatal Testing Market-
By Method-
• Ultrasound Detection
• Biochemical Screening Tests
• Cell-free DNA in Maternal Plasma Test
• Others

By End-Use-
• Diagnostic Laboratories
• Hospitals
• Research Centers
• Clinics

By Application-
• Trisomy
• Microdelection Syndrome
• Others

By Region-
North America-
• The US
• Canada
• Mexico

Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe

Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific

Latin America-
• Brazil
• Argentina
• Rest of Latin America

Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.