Market Definition:
The global Prenatal and New-born Genetic Testing Market was valued at USD 4.5 Billion in 2022 and it is anticipated to grow up to USD 20.9 Billion by 2032, at a CAGR of 16.6% during the forecast period.
Prenatal testing provides you with information about your baby’s health. It detects any problems that could affect the health of fetuses like genetic defects and congenital conditions. Doctors recommend some prenatal tests while only a few women need special screening tests. Newborn testing is done to detect abnormalities that can cause certain health conditions such as inborn genetic defects. The genetic diseases that can be detected in newborns during screening are Down syndrome, phenylketonuria, homocystinuria, and others. Therefore it is important to diagnose genetic diseases in the early stages of the pregnancy and within 24 hours of newborn birth.
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Market Outlook:
Growing consanguineous relations in African and Asian countries is expected to stimulate the market expansion
Growing rate of traditional consanguineous marriages that fuels the risk of autosomal recessive disorders in the newborn is amongst the key factors boosting the prenatal and new-born genetic testing market progression. Marrying in closely related family members is tradition in several countries in Middle East, West Asia, East Asia and North Africa region with almost half of the marriages being consanguineous. The emigrant from these regions continue the tradition and are contributing to the surging rates of genetic disorders. Consanguineous marriage results in transfer of two recessive defective mechanisms from the parents and the offspring may inherit these genes causing the congenital anomalies. Around 1 billion people reside in the countries that commonly practice marriage among relatives. Amongst them, 1 out of 3 individuals are married to a second cousin or closely related family member. The risk of having genetic defects or chromosomal abnormalities among offspring of such marriages is almost two-fold.
Market Restraints and Challenges
The chances of miscarriage due to some of the prenatal testing is the main hurdle limiting the growth of the prenatal and newborn genetic testing market. For instance, amniocentesis is the most commonly performed non-invasive prenatal test during the second trimester of pregnancy have a chance of miscarriage. In addition, the high cost of screening methods and diagnostic tests is anticipated to hamper the growth of the market. For instance, chronic villus sampling costs around $3,050.
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Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Global Prenatal and New-born Genetic Testing Market Segmental Overview
The report analyses the global Prenatal and New-born Genetic Testing Market based on technology, disease, end-user, and region.
Major Players in the Global Prenatal and New-born Genetic Testing Market
The key players in the Prenatal and New-born Genetic Testing Market are Ariosa Diagnostics (Roche), Berry Genomics, BGI, Biorad, Illumina, Laboratory Corporation of America, Natera, Qiagen, Sequenom, Trivitron Healthcare and Verinata Health among others.
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Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2022 – $4.5 bn
• Market Size in 2032 – $20.9 bn
• CAGR % – 16.6%
• Historic Period – 2016-2021
• Forecast Period – 2023-2032
• Base Year – 2022
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