Fact.MR – A Market Research and Competitive Intelligence Provider: By the end of 2031, the global newborn screening market is expected to exceed $1 billion.
India and China to be Create Lucrative Opportunities for Newborn Screening Market
The latest Fact.MR report offers actionable and valuable insights on the newborn screening market. It provides a thorough analysis of growth drivers, restrains, opportunities and emerging trends shaping the market dynamics across key regions. To present the information in a coherent manner, the report has been segmented on the basis of indication, drug and distribution channel across major regions.
Fact.MR – A Market Research and Competitive Intelligence Provider: By the end of 2031, the global newborn screening market is expected to exceed $1 billion. According to Fact MR, a market research and competitive intelligence firm, the market is expected to increase at an annual rate of 8% from 2021 to 2031.
With rising birth rates, hospitals and healthcare systems are increasing their investment on intact care and implementing improved screening techniques. The newborn screening market is growing as a result of this.
Every day, 67,385 babies are born in India, according to UNICEF, accounting for one-sixth of all child births globally. With the number of babies being born at an all-time high, the focus on infant care is growing in India and around the world. Governments are promoting the use of sophisticated healthcare to reduce infant mortality and the occurrence of various disorders in children. This will increase the market’s potential for growth.
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According to the Centers for Disease Control and Prevention, one out of every 33 babies in the United States has a birth defect (CDC). The demand for better diagnostics and screening technologies has increased as a result. As a result, healthcare providers are concentrating their efforts on building a strong child care system, which is driving up demand for improved children’s diagnostics around the world.
“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.
Key takeaways:
- The United States is likely to have great economic prospects. From 2021 to 2031, the market is expected to grow at a CAGR of around 5%.
- In the worldwide newborn screening industry, India is estimated to earn 30% of total revenue.
- The most lucrative market for newborn screening options is China. In 2017, China’s overall uptake of congenital hypothyroidism (CH) and phenylketonuria (PKU) diagnosis screening surpassed 90%.
- Technology-driven demand for newborn screening using immunoassays and enzymatic assays will grow at a 7% CAGR until 2031.
- Newborn screening consumables are predicted to grow at an 8% compound annual growth rate (CAGR) by 2031.
- By 2031, dried blood spot tests are expected to grow at a 9% compound annual growth rate (CAGR).
Growth drivers:
- Market expansion will be fueled by rising need for effective infant diagnostic solutions.
- The market would be driven by various government and non-government activities aimed at raising awareness about the necessity of newborn screening.
Key restraints:
- Market growth is being stifled by a lack of awareness about newborn screening technologies.
- High solution costs are inhibiting market expansion.
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Competitive Landscape
Key players are focusing on market expansion strategies to increase market share. For instance
• For optimal efficiency, Bio-Rad Laboratories launched the VARIANTnbs automated newborn screening for sickle cell disease and hemoglobin abnormalities, which includes fully automated analysis and enhanced result reporting. Its results are based on dried blood spot specimens.
Prominent players operating in the newborn screening market are
- PerkinElmer
- Demant A/S
- Natus Medical Inc.
- Bio-Rad Laboratories
- Danaher Corporation
- Medtronic Plc.
- Chromsystems Instruments & Chemicals GmbH
- Trivitron Healthcare
- Baebies
- RECIPE Chemicals + Instruments GmbH
More Insights on the Newborn Screening Market:
Fact.MR, in its new offering, 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:
Product
- 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
- Consumables
- Newborn Screening Assay Kits & Reagents
- Other Newborn Screening Consumables (Columns and Screening Cards)
Test Type
- Dry Blood Spot Newborn Screening Tests
- Newborn Hearing Screening Tests
- Critical Congenital Heart Disease (CCHD) Screening Tests
Technology
- Newborn Immunoassays & Enzymatic Screening Tests
- Tandem Mass Spectrometry
- Molecular Assays
- Newborn Hearing Screening Technologies
- Pulse Oximetry
- Other Newborn Screening Technologies (Fluorescence, Gel Electrophoresis, etc.)
End User
- Newborn Screening at Clinical Laboratories
- Newborn Screening at Hospitals
Region
- North America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Key Questions Covered in the Report
- How will the newborn screening market expand through 2031?
- Which top companies in the global newborn screening market?
- What are the key drivers and trends that will stimulate the newborn screening market growth?
- What are the challenges that will affect the sales of newborn screening sales?
- Which region will remain the most lucrative throughout the forecast period?
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Source: Fact.MR