Prenatal Diagnostics Market Will Generate New Growth Opportunities By 2024
Global Prenatal Diagnostics Market: Overview
Prenatal diagnostics is a procedure for testing the fetus before birth to determine certain hereditary disorders such as Down’s syndrome, genetic diseases, chromosome abnormalities, neural tube defects, and other conditions. In case of high risk related to the birth of a child, it can assist by conducting numerous procedures of genetic testing common testing, and screening.
The global prenatal diagnostics market is segmented on the basis of tests into Harmony PrenaTest, BambniTest, NIFTY (Non-invasive fetal trisomy test), Verifi, informaSeq, informaSeq Panorama, MaterniT21 PLUS, and VisibiliT.
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In the report, Transparency Market Report (TMR) presents a comprehensive analysis of drivers and restrictions in the global prenatal diagnostics market. It also provides insight into the major segments and regions of the market.
Global Prenatal Diagnostics Market: Trends and Prospects
The global prenatal diagnostics market is driven by numerous factors such as growing demand for non-invasive prenatal diagnostics, rise in detection rates of Down’s syndrome, technology advancements, and the crucial one being increasing age of mothers which develops the possibility and risk of chromosomal abnormalities. However, strict regulatory framework and traditional ethical outlook towards prenatal testing can limit the growth of the prenatal diagnostics. In addition, non-invasive prenatal tests and alternative screening and testing methods can also create hurdles for the market growth.
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On basis of tests, MaterniT21 plus segment will largely contribute to the market share, and is expected to lead the market during the forecast period. It is preferred over the other tests in the category as it is the first of its kind diagnostic system. Due to higher accuracy and safety panorama and verifi tests are also high in demand and is projected to register a strong CAGR during the forecast period. Moreover, increased market penetration and aggressive marketing strategies by companies are further propelling the growth of these tests.
Global Prenatal Diagnostics Market: Regional Analysis
The global prenatal diagnostics market is segmented on the basis of geography into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Among the mentioned regions, North America is expected to lead the regional segment. The factors leading to the growth of this region can be attributed to growing efforts of coalitions between companies and hospitals and increasing penetration of the testing procedures. In addition, due to increase in the rate of high risk pregnancies and rising average age for child bearing leading to development of chromosomal disorders, the market is said to propel over the forecast period. With increased penetration of companies and rising approvals by the European commission organizations, the European market is anticipated to thrive in terms of revenue.
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The Middle East and Asia Pacific are untapped territories for many established market players. With better marketing strategies and positioning, major companies are planning to venture in this region, thereby increasing the market growth. Moreover, supportive government research initiatives, rising disposable income, increasing paranoia of to-be mothers for the health of their child are some of the factors supplementing the market growth of non-invasive prenatal diagnostics.
Companies Mentioned in the Report
Some of the leading players in the global prenatal diagnostics market are Hologic Inc., Sequenom, Inc., PerkinElmer, Inc., Ravgen, Inc., Sequenom Center for Molecular Medicine, LLC, Abbott Molecular, Angle Plc., and TrovaGene, Inc.
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