Prenatal and New-born Genetic Testing Market is valued approximately USD 13.98 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.9% over the forecast period 2019-2026.
Report Ocean presents a new report on Prenatal and New-born Genetic Testing Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
Penatal and New-Born testing is an advanced technology used for genetic screening in the healthcare industry to identify the genetic or other birth defects in newborn baby at early stage. The test is conducted during time interval of pregnancy to determine the health of the fetus at an early stage and helps in identifying various genetic and chromosomal anomalies such as birth defects, gene mutations and cystic fibrosis etc. Therefore, such advent features of prenatal and new-born genetic testing helps parents to detect early abnormal diseases in fetus to take suitable treatment.
Hence, rapid growth in birth of abnormal kids along with rising cases of new-born babies with genetic disorder is expected to drive the growth of market over the forecast years. For instance: as per the World Health Organization, over an estimate 303000 newborns die within 4 weeks of birth every year globally due to the congenital anomalies.
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Also, as per the Centers of Diseases Control, birth defects affect one in every 33 babies (about 3% of all babies) born in the United States each year and is a leading cause of infant deaths, accounting for 20% of all infant deaths. Thus, increase in cases of birth defects in newborn baby and remarkable application of Prenatal and New-born Genetic Testing to identify it at an early stage are the factors accelerating the growth of market over the forecast years. However, lack of advanced infrastructure and skilled labor in developing region are the factors that hamper the growth of market.
The regional analysis of global Prenatal and New-born Genetic Testing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the due to the rapid growth in birth of abnormal kids along with rising cases of new-born babies with genetic disorder in the region.
Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as advancement in genetic screening technologies in the region would create lucrative growth prospects for the Prenatal and New-born Genetic Testing market across Asia-Pacific region.
Major market player included in this report are:
Berry Genomics Co. Ltd
Biocartis Group NV
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Diseases offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Sickle cell Anaemia
Maternity and Specialty Clinics
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Prenatal and New-born Genetic Testing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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