Newborn Screening Market Overview: Trends and Forecast to 2031.

"Newborn Screening Market" in terms of revenue was estimated to be worth $XX billion in 2023 and is poised to reach $XX billion by 2028, growing at a CAGR of XX% from 2023 to 2028 according to a new report by Insight Ace Analytic.

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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Newborn Screening market are:
• An increasing number of newborns
• Increasing prevalence of newborn disorders
• Technical improvements

The following are the primary obstacles to the Newborn Screening market's expansion:
• The lack of uniformity in newborn screening
• High cost associated with newborn screening instruments
• The lack of standardized protocols

Future expansion opportunities for the global Newborn Screening market include:
• Introduction of new advanced technology
• Emerging markets
• Favorable government laws and policies

Key Industry Insights & Findings from the Report:
• The need for newborn screening market is due to rising incidences of congenital diseases, and advancements in technologies for newborn screening.
• The increase in prevalence of congenital illnesses in infants is expected to drive industry growth.
• North America dominated the market and accounted for a revenue share of global revenue in 2023.
• One of the significant concerns restraining industry growth is the high cost related to newborn screening instruments.

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Market Analysis:
The global newborn screening market is expected to experience growth due to an increase in government support for newborn screening and the development of screening technology. The key factors driving the growth of the market are the high birth rate and the increase in the incidence of neonatal diseases. On the other hand, screening of genetic disorders and emerging market provide crucial opportunities to key players due to increased birth rates and disposable income.

List of Prominent Players in the Newborn Screening Market:
• Perkinelmer, Inc.
• Waters Corporation
• Natus Medical Incorporated
• Ab Sciex LLC
• Masimo Corporation
• Bio-Rad Laboratories, Inc.
• Covidien Plc
• Ge Healthcare
• Trivitron Healthcare
• Agilent Technologies Inc.

Recent Developments:
• In August 2022, Trivitron Healthcare launched a Centre of Excellence (CoE) with state-of-the-art R&D and manufacturing facilities at AMTZ Campus, Vishakhapatnam, India, for metabolomics, genomics, newborn screening, and molecular diagnostics.
• In June 2022, Rady Children's Institute for Genomic Medicine introduced a program to advance and evaluate the scalability of a diagnostic and precision medicine guidance tool called BeginNGS to screen newborns for around 400 genetic diseases with known treatment options using rapid whole genome sequencing.
• In June 2022, Novartis AG began with a partnership with the American Society of Hematology (ASH) to supply six additional African nations with the technology that is already being used in Ghana to document and share the diagnosis of babies with sickle cell disease. This partnership expands the current newborn screening consortium to new areas.

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Newborn Screening Market Dynamics:
Market Drivers: Increasing Prevalence of Newborn Disorders
The prevalence of newborn disorders has jumped up in recent years, pushing providers to support the demand for advanced screening instruments. Metabolic, hearing, and hormonal disorders and critical congenital heart disease are the major newborn disorders; most are treatable if diagnosed early, such reasons are expected to fuel market growth. Furthermore, rising awareness and demand for newborn diagnoses benefit newborn screening as it can detect various disorders such as congenital hypothyroidism, galactosemia, sickle cell disease, and tyrosinemia, among others. it also cushions the market's growth within the forecasted period.

Challenges: High Cost Associated With Newborn Screening Procedures
The high cost of newborn screening instruments is expected to hinder market growth over the forecast period. The cost of screening instruments for newborns is so high that the key players focus on developing advanced products with safety and cost-effectiveness, which is expected to drive market growth over the forecast period. Moreover, the absence of universal standards complicates the regulatory aspects for companies operating in the newborn screening market as they need to focus on complying with a complex web of regulations for seeking approvals in different countries, which can be time-consuming and expensive.

North America Is Expected To Grow With the Highest CAGR during the Forecast Period
The North America Newborn Screening Market is likely to register a significant revenue share and develop at a rapid CAGR shortly. This is due to the region's high burden of congenital disabilities, government policies, robust healthcare infrastructure, and new developments in newborn screening technology by the players based in the region. In the North American region, the U.S. holds the largest market share because of the increasing incidence rates of disorders in newborns and the rising demand for advanced systems. Furthermore, newborn screening programs are run on a state basis within the U.S., which gives rise to the growth of this market in the region.

Segmentation of Newborn Screening Market-
By Product-
• Instruments
• Reagents
• Assay kits
• Others
By Technology-
• Tandem Mass Spectrometry
• Pulse Oximetry Screening
• Enzyme based Assay
• DNA Assay
• Electrophoresis
• Others
By Test Type-
• Dry Blood Spot Test
• Critical Congenital Heart Diseases
• Hearing Screen
• 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.