Newborn Screening Market Surging at 8% CAGR Driven by Increasing Focus on Advanced Infant Care: Fact MR Study
The Newborn Screening Market Survey offers insights into newborn screening demand outlook in terms of product, test type, technology, and end user. It also studies key strategies adopted by vendors to increase sales in newborn screening market
Fact MR - A Market Research and Competitive Intelligence Provider: The global newborn screening market outlook remains positive with Fact MR projecting it to surpass a valuation of US$ 1 Bn by the end of 2031. As per the study, newborn screening market sales will continue rising at a positive pace between 2021 and 2031.
Increasing rate of birth will remain a key growth driver, encouraging hospitals and healthcare organizations to increase spending on infant care and deploy advanced screening procedures. Consequently, accessibility of newborn screening will improve, enabling the market gain momentum at an impressive pace.
According to the UNICEF, 67,385 babies are born in India every day, accounting for one-sixth of total child births worldwide. With the rate of baby birth consistently soaring, focus on infant care is increasing in India and elsewhere. Governments are encouraging adoption of advanced healthcare to prevent infant mortality and incidence of various diseases in infants. This will improve scope for expansion of the market.
Birth defects affect one in every 33 babies in the U.S, according to Centers for Disease Control and Prevention (CDC). In response to this, the demand for effective diagnostics and screening technologies has compounded. Healthcare providers are therefore focusing on to develop a robust child care system, which is upscaling demand for advanced children’s diagnostics across globe.
“Rising infant population across emerging economies are encouraging investment in newborn screening services, which is poised to fuel demand in the market in coming years", said a Fact MR analyst.
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Key Takeaways from Newborn Screening Market Research Report:
- Sales outlook for newborn screening market is fairly positive as per Fact MR. The study forecasts the market to register 8% CAGR over the course of the assessment period.
- The U.S. is expected to offer attractive growth opportunities will sales forecast to rise at 5% CAGR from 2021 to 2031.
- China is emerging as most lucrative market for newborn screening solutions. Overall uptake of congenital hypothyroidism (CH) and phenylketonuria (PKU) diagnosis screening in China surpassed 90% in 2017.
- Based on technology, the demand for immunoassay- and enzymatic assay-based newborn screening will accelerate at 7% CAGR through 2031.
- Newborn screening consumables will remain highly sought-after among products available. Sales within the category is projected to surge at 8% CAGR through 2031.
- Dry blood spot tests are estimated to register 9% CAGR by 2031, emerging as preferred newborn screening test type.
- Increasing demand for effective infant diagnostic solutions will drive market growth.
- Various government and non-government initiatives undertaken to create awareness about the importance of newborn screening will drive market.
- Lack of awareness about newborn screening solutions restraining market growth.
- High cost of solutions impeding market growth.
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Key players are adopting various expansion strategies amid soaring competition. For instance, Bio-Rad Laboratories introduced the VARIANTnbs automated newborn screening for sickle cell disease and hemoglobin disorders, featuring fully automated analysis and advanced result reporting for maximum efficiency. It uses dried blood spot specimens to provide results.
Key players operating in the newborn screening market are
- Demant A/S
- Natus Medical Inc.
- Bio-Rad Laboratories
- Danaher Corporation
- Medtronic Plc.
- Chromsystems Instruments & Chemicals GmbH
- Trivitron Healthcare
- RECIPE Chemicals + Instruments GmbH
More Insights on the Newborn Screening Market:
Fact MR provides an unbiased analysis of the newborn screening market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global newborn screening market with a detailed segmentation on the basis of:
- Newborn Screening Instruments
- Disorder Screening Instruments
- Fully Automated Newborn Screening Instruments
- Other Newborn Screening Instruments (Semi-automated Instruments, Shakers, Incubators, etc.)
- Hearing Screening Instruments
- Newborn Screening Accessories
- Newborn Screening Devices
- Pulse Oximeters
- Newborn Screening Assay Kits & Reagents
- Other Newborn Screening Consumables (Columns and Screening Cards)
- Dry Blood Spot Newborn Screening Tests
- Newborn Hearing Screening Tests
- Critical Congenital Heart Disease (CCHD) Screening Tests
- Newborn Immunoassays & Enzymatic Screening Tests
- Tandem Mass Spectrometry
- Molecular Assays
- Newborn Hearing Screening Technologies
- Pulse Oximetry
- Other Newborn Screening Technologies (Fluorescence, Gel Electrophoresis, etc.)
- Newborn Screening at Clinical Laboratories
- Newborn Screening at Hospitals
- North America
- East Asia
- South Asia
- Middle East and Africa
Key Questions Covered in the Newborn Screening Market Report
- The report offers insight into newborn screening demand outlook for 2021-2031
- The market study also highlights projected sales growth for newborn screening market between 2021 and 2031
- Newborn screening market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Newborn screening market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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