Prenatal Testing & Newborn Screening Global Market Types and Applications, Drivers, Ongoing Trends, Future Demand, Challenges, Top Companies And Forecast 2024-2033

"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.

Prenatal Testing & Newborn Screening 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 $9.76 billion In 2028 At A CAGR Of 12.0% :

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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Prenatal Testing & Newborn Screening Market Major Segments
The prenatal testing & newborn screening market covered in this report is segmented -
1) By Diagnostic Type: Non-Invasive, Invasive
2) By Technology: Screening Technology, Diagnostic Technology
3) By End user: Hospitals, Diagnostic centers

Key Driver - High Prevalence Of Genetic Diseases In Infants Fuels The Growth Of Prenatal Testing And Newborn Screening Market

The high prevalence of genetic diseases in infants contributed to the growth of the prenatal testing & newborn screening market. According to the World Health Organization, genetic disease includes diseases such as Thalassemia, Sickle Cell Anaemia, Haemophilia, Cystic Fibrosis, Tay Sachs disease, Fragile X Syndrome, Huntington's disease. The sickle cell anaemia is one of the genetic diseases that affects millions throughout the world, and the disease is particularly common among people whose ancestors are from Africa, America, Cuba, Central America, Saudi Arabia, and India. For instance, in November 2021, according to the National Center for Biotechnology Information, a US-based medical organization, genetic illnesses were detected in 9.4% of pediatric patients, and among these patients, 44.7% were critically ill newborns. The high prevalence of genetic diseases in infants boosted the demand for growth of the prenatal testing and newborn screening market.

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Prominent Trend - Use Of Ai And Machine Learning In Prenatal Testing And Newborn Screening Market

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.

Prenatal Testing & Newborn Screening Market Players
Major companies operating in the prenatal testing & newborn screening market include PerkinElmer Inc., Laboratory Corporation of America Holdings (LabCorp), Natera Inc., Invitae Corporation, Centogene AG, Cradle Genomics Inc., Roche Diagnostics International AG, Quest Diagnostics Incorporated, Baebies Inc., Progenity Inc., Ravgen Inc., Strand Life Sciences Pvt. Ltd., Eurofins Scientific, Illumina Inc., Agilent Technologies Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories Inc., General Electric Company, Siemens Healthineers AG, BGI Group, QIAGEN N.V., Veracyte Inc., NIPD Genetics, Novacyt UK, Ariosa Diagnostics Inc., Verinata Health Inc., Counsyl a Myriad Company, GenPath Diagnostics, Sonic Healthcare Limited, Cepheid a Danaher Company, Guardant Health Inc., Genetron Health (Beijing) Co. Ltd.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the prenatal testing & newborn screening market in 2023. Western Europe was the second largest region in the prenatal testing and newborn screening market. The regions covered in the prenatal testing & newborn screening 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. Prenatal Testing & Newborn Screening Market Report Structure
3. Prenatal Testing & Newborn Screening Market Trends And Strategies
4. Prenatal Testing & Newborn Screening Market - Macro Economic Scenario
5. Prenatal Testing & Newborn Screening Market Size And Growth
…..
27. Prenatal Testing & Newborn Screening Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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