New York, May 10, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Prenatal Testing & Newborn Screening Global Market Report 2021: COVID 19 Growth And Change to 2030” – https://www.reportlinker.com/p06071081/?utm_source=GNW
The global prenatal testing & newborn screening market is expected to grow from $4.178 billion in 2020 to $4.679 billion in 2021 at a compound annual growth rate (CAGR) of 12%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.018 billion in 2025 at a CAGR of 14%.
The prenatal testing and newborn screening tests market consists of sales of prenatal testing and newborn screening tests services and related goods by entities (organizations, sole traders and partnerships) that provide prenatal testing and newborn screening tests, which help to determine various genetic and chromosomal diseases, to provide timely medical or surgical treatment of a condition before or after birth.Genetic diseases such as sickle cell, down’s syndrome, cystic fibrosis and muscular dystrophy are detected with the help of these tests.
Only goods and services traded between entities or sold to end consumers are included.
The use of machine learning and artificial intelligence is gradually gaining popularity in the prenatal testing and newborn screening market.Artificial intelligence (AI) is the simulation of human intelligence in machines.
Machine learning is a part of AI.Machine learning and AI help companies in the prenatal testing and newborn screening market to conduct a detailed analysis of all relevant data, provide insights about different diseases, and offer a more accurate evaluation of tissue samples.
For instance, in December 2017, Eone-Diagnomics Genome Center (EDGC), a Korean genetic analysis company, announced its decision to apply machine learning-based artificial intelligence (AI) technology to its non-invasive prenatal test (NIPT) NICE®0. In 2019, AI specialist FDNA and PerkinElmer Genomics partnered to launch Face2Gene Labs for newborn testing.
The prenatal testing and newborn screening market covered in this report is segmented by diagnostic type into non-invasive; invasive. It is also segmented by technology into screening technology; diagnostic technology, and by end user into hospitals; diagnostic centers.
Growth of the prenatal testing and newborn screening market may be hampered by the relatively low healthcare access in most developing countries, compared to the developed nations. For instance, in India, there were only about 1.9 million hospital beds for 1.33 billion people, as of 2020. Low access to healthcare services and the lack of sufficient hospitals and healthcare professionals harmed market growth in many developing nations. Moreover, low disposable income in many countries further lowers the access to healthcare services, thus negatively hampering the growth of the prenatal testing and newborn screening market.
In March 2020, Thermo Fisher Scientific Inc announced its decision to acquire Qiagen for $11.5 billion. Thermo Fisher has a specialty diagnostics capability, that includes allergy, autoimmunity, transplant diagnostics, and oncology testing. The acquisition is expected to complement the Thermo Fisher’s genetic analysis and bioscience capabilities. Qiagen is a Germany-based genetic tester that was founded in 1984 and operates more than 35 offices in over 25 countries.
The high prevalence of genetic diseases in infants contributed to the growth of the prenatal testing and newborn screening market.According to the World Health Organization, genetic disease includes diseases such as Thalassemia, Sickle Cell Anaemia, Haemophilia, Cystic Fibrosis, Tay Sachs disease, Fragile X Syndrome, Huntington’s disease.
The sickle cell anaemia is one of the genetic diseases that affects millions throughout the world, and the disease is particularly common among people whose ancestors are from Africa, America, Cuba, Central America, Saudi Arabia, India.According to a 2019 study, the disease occurs for 1 in every 500 African American births, and 1 in 12 African-American carry the sickle cell allele.
The high prevalence of genetic diseases in infants boosted the demand for prenatal testing and newborn screening market.
Read the full report: https://www.reportlinker.com/p06071081/?utm_source=GNW
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