InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Non-Invasive Prenatal Testing Market By Method (Ultrasound Detection, Biochemical Screening Tests, Cell-Free DNA In Maternal Plasma Tests And Others), End-User (Diagnostic Laboratories, Hospitals, Research Centres And Clinics.), Application (Trisomy, Microdelection Syndrome And Others)- Trends, Industry Competition Analysis, Revenue And Forecast To 2031.”
The global non-invasive prenatal testing market is estimated to reach over USD 12.20 billion by 2031, exhibiting a CAGR of 13.2% during the forecast period.
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Non-invasive prenatal testing, commonly referred to as non-invasive prenatal screening, is a technique for assessing the likelihood of genetic disorders in a fetus. This method of checking for Down syndrome, Patau syndrome, Edwards syndrome, and Turner syndrome, among others, is risk-free and incredibly effective. Small DNA fragments present in pregnant women’s blood by week 10 of pregnancy are often analyzed to do this. The industry for non-invasive prenatal testing is expanding due to the high risk of chromosomal abnormalities and the rising maternal age.
Additionally, it is anticipated that rising research efforts to create cutting-edge technologies will fuel market expansion. The cost-effectiveness of non-invasive prenatal testing is growing due to technology improvements, which are anticipated to support market expansion in the upcoming years. Increasing government funding for non-invasive prenatal testing research and development (R&D) activities is anticipated to fuel market expansion.
List of Prominent Players in the Non-Invasive Prenatal Testing Market:
Yourgene Health
Illumina Inc.
Agilent Technologies Inc.
Thermo Fisher Scientific Inc.
Hoffmann-La Roche Ltd.
Laboratory Corporation of America Holdings
GE Healthcare
PerkinElmer Inc.
BGI
Natera Inc.
Market Dynamics:
Drivers-
Developing extremely sophisticated screening methods that are highly sensitive and accurate in the early detection of genetic abnormalities in newborns is a continuing priority for many businesses. Manufacturers are placing a lot of emphasis on creating cutting-edge non-invasive prenatal diagnostics and forming strategic alliances and collaborations to boost their market share.
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Challenges
The use of these tests is likely to be constrained by their high cost, which makes them comparatively unaffordable in many developing nations. In India, the typical price of NIPT is between USD 350 and USD 400, according to a Future Medicine report. This has hampered their adoption in developing nations.
Regional Trends:
The North American non-invasive prenatal testing market is expected to register a significant market share in revenue and is projected to grow at a high CAGR shortly due to an increase in genetic problem deliveries, a need for novel screening techniques, and rising payer reimbursement for the associated risk during pregnancy. According to research done by the Health Expense Institute, North America’s non-invasive pregnancy testing market is anticipated to gain from the average USD 4,879.0 spent on children’s healthcare annually in the U.S. The major companies’ increased emphasis on broadening their product lines is fueling the market’s growth and significantly driving up demand for non-invasive prenatal testing. Besides, Asia Pacific had a substantial share in the non-invasive prenatal testing market due to the growing incidence of chromosomal aneuploidies in newborns and the rising maternal age, which have increased the potential client base. The technical integration of NGS techniques, significant advancements in China and Japan, and expanding healthcare infrastructure are anticipated to fuel market expansion.
Recent Developments:
- In July 2021, Pacific Biosciences and Omniome, a San Diego-based business, inked a binding merger agreement. This partnership will increase sequencing opportunities and benefit customers through creative market expansion strategies.
- In June 2021, VeriSeq NIPT Solution v2 was introduced in Thailand by Illumina, Inc. and Next-Generation Genomic Co., Ltd. End-to-end genome-wide non-invasive prenatal testing is available with VeriSeq NIPT Solution and is accurate, dependable, scalable, and quick.
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Segmentation of Non-Invasive Prenatal Testing Market-
By Method-
- Ultrasound Detection
- Biochemical Screening Tests
- Cell-free DNA in Maternal Plasma Test
- Others
By End-Use-
- Diagnostic Laboratories
- Hospitals
- Research Centers
- Clinics
By Application-
- Trisomy
- Microdelection Syndrome
- 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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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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