Global Prenatal And Newborn Genetic Testing Market Analysis 2024: Size Forecast and Growth Prospects

 

The prenatal and newborn genetic testing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Prenatal And Newborn Genetic Testing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
The prenatal and newborn genetic testing market size has grown rapidly in recent years. It will grow from $5.87 billion in 2023 to $6.68 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth in the historic period can be attributed to improved non-invasive prenatal testing, increased maternal age, government support and healthcare policies, patient demand for early detection.

The prenatal and newborn genetic testing market size is expected to see rapid growth in the next few years. It will grow to $10.7 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to expanded genetic test panels, increasing maternal health awareness, prenatal and newborn screening guidelines, rising focus on rare diseases, ethical and regulatory considerations. Major trends in the forecast period include non-invasive prenatal testing (nipt), genome sequencing (wgs) and whole exome sequencing, integration of artificial intelligence (ai), preimplantation genetic testing (pgt), direct-to-consumer genetic testing..

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Scope Of Prenatal And Newborn Genetic Testing Market
The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Prenatal And Newborn Genetic Testing Market Overview

Market Drivers -
Government initiatives and support for prenatal testing and newborn genetic screening are expected to propel the growth of the prenatal and newborn genetic testing markets going forward. Government initiatives refer to specific actions, programs, policies, or projects undertaken by a government at the local, regional, or national level to address a particular issue, achieve specific goals, or promote the well-being of its citizens. Government initiatives for prenatal and newborn genetic testing support the country's people by helping identify genetic conditions or abnormalities in fetuses during pregnancy or in newborns shortly after birth. For instance, in June 2022, the Australian government allocated $1.3 million annually to the New South Wales (NSW) ( a state on the east coast of Australia) newborn screening program to offer free tests for severe combined immunodeficiency (SCID) and spinal muscular atrophy (SMA), including newborn genetic testing and screening, to all new babies in the state. The screening tests would be provided to around 100,000 babies each year, saving the lives of up to 13 newborns likely to have these genetic disorders. Therefore, government initiatives and support for prenatal testing and newborn genetic screening drive the prenatal and newborn genetic testing markets.

Market Trends -
Major companies operating in the prenatal and newborn genetic testing markets are focusing on developing innovative screening tests, such as noninvasive prenatal screening tests, with improved accessibility and affordability to provide reliable services to customers. Noninvasive prenatal screening (NIPS), or noninvasive prenatal testing (NIPT), is a highly advanced and safe genetic screening method performed during pregnancy to assess the risk of specific fetal chromosomal abnormalities. For instance, in November 2022, Juno Diagnostics Inc., a US-based healthcare technology company, launched Juno Hazel, a noninvasive prenatal screening test that detects chromosomal aberrations and provides clinical content. The test uses a sample collection kit, eliminating the need for phlebotomy and improving accessibility. The company plans to offer educational resources and personalized genetic counseling support by partnering with physicians and genetic counselors.

The prenatal and newborn genetic testing market covered in this report is segmented –

1) By Product Type: Consumables, Instruments
2) By Screening: Non-Invasive Prenatal Testing, Chronic Villus Sampling, Amniocentesis, Maternal Serum Screening, Other Screenings
3) By Disease: Down Syndrome, Phenylketonuria, Cystic Fibrosis, Sickle Cell Anemia
4) By End User: Hospital, Maternity And Specialty Clinics, Diagnostic Centers

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Regional Insights -
North America was the largest region in the prenatal and newborn genetic testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prenatal and newborn genetic testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Key Companies -
Major companies operating in the prenatal and newborn genetic testing market report are F. Hoffmann-La Roche AG, Novartis AG, Sanofi S.A., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton, Dickinson and Company, Quest Diagnostic Incorporated, Agilent Technologies Inc., Grifols S.A., Terumo Corporation, Illumina Inc., PerkinElmer Genomics, Quidel Corporation, Bio-Rad Laboratories Inc., Qiagen NV, Werfen S.A., DiaSorin S.p.A, Nova Biomedical, BGI Group, Natera Inc., Trinity Biotech plc, Meridian Bioscience Inc., Sekisui Diagnostics, Chembio Diagnostics, PTS Diagnostics, Ariosa Diagnostics Inc., AccuBioTech Co. Ltd., Sequenom Inc.

Table of Contents
1. Executive Summary
2. Prenatal And Newborn Genetic Testing Market Report Structure
3. Prenatal And Newborn Genetic Testing Market Trends And Strategies
4. Prenatal And Newborn Genetic Testing Market – Macro Economic Scenario
5. Prenatal And Newborn Genetic Testing Market Size And Growth
…..
27. Prenatal And Newborn Genetic Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix