High Incidence Rate of Babies Born with Down syndrome Drives the Global Non-invasive Prenatal Testing Market
The global NIPT market is analyzed on the basis of the tests and the regional distribution of this market. Based on tests, the market is broadly classified into BambniTest, informaSeq, Harmony, MaterniT21 PLUS, Panorama, NIFTY, PrenaTest, VisibiliT, and verifi. Regionally, the worldwide market for NIPT is distributed among North America, Asia Pacific, Europe, and the Rest of the World.
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The report present a comprehensive study of the global NIPT market with an analytical approach. Market drivers, restraints, opportunities, current and upcoming trends, and various segmentations of this market has been discussed at length in this study, making it a valuable source of guidance for market participants.
The global NIPT market stood at US$0.5 bn in 2013. Expanding at a CAGR of 17.50% over the period from 2014 to 2022, the market is projected to reach US$2.38 bn by the end of the forecast period.
According to the report, the first non-invasive prenatal test launched in the market was MaterniT21 PLUS. The test was introduced in 2011 and was intended to diagnose trisomy 21. In 2013, the market for MaterniT21 PLUS accounted for 36.1% of the total revenue generated in the NIPT market across the globe. However, this market segment is likely to lose ground on account of rising commercialization of panorama, Verifi, Bambni, and NIFTY during the forecast period.
The NIPT market in North America emerged as the largest regional market of the global NIPT market in 2013 with a 58.8% share in terms of revenue and a 51% share in terms of volume. The presence of major market participants in the U.S. and a high level of awareness pertaining to NIPT in North America has boosted the regional market extensively.
The Asia Pacific NIPT market is showing immense potential for growth. Australia, Japan, India, and China are the key markets for NIPT in this region. A large population base of women choosing late pregnancy is expected to drive the Asia Pacific market for NIPT market over the forecast period.
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The presence of untapped opportunities in developing economies across the globe provides a huge potential market for participants. However, the strict regulatory guidelines regarding non-invasive prenatal testing and the availability of alternative screening and testing procedures are likely inhibit the growth of the market to an extent.
Laboratory Corporation of America Holdings, Berry Genomics Co. Ltd., Illumina Inc., LifeCodexx AG, Sequenom Inc., BGI Diagnostics, Ariosa Diagnostics Inc., and Natera Inc. are the major companies functioning in the global NIPT market. Strategic partnership and alliance with hospitals, medical research centers, and clinical laboratories are the key trends among the market participants for the expansion of their business.
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