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Prenatal Testing & Newborn Screening Market Size, Insights, Outlook, Overview And Market Research Report 2024-2033
Prenatal Testing & Newborn Screening Market
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
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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