Non-invasive Prenatal Testing Market to Gain US$2.38 Billion by 2022, Says TMR
According to the report, the global non-invasive prenatal testing market stood at US$0.5 bn in 2013. Soaring at an excellent 17.50% CAGR from 2014 to 2022, the forecast period, the market is prognosticate to reach a value of US$2.38 bn.
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In 2013, MaterniT20 PLUS test segment held a share of 36.1% in the global market for NIPT. On the basis of type, the segments of NIFTY, Verifi, Bambni, Panorama, by test type are envisaged to emerge stronger than before in the market, replacing the former leader.
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Geographically, Asia Pacific is predicted to be responsible for a large revenue in the global non-invasive prenatal testing (NIPT) market. This could be ascribed to the growing incidence of late pregnancies among women. This has been one of the basic propellants of the non-invasive prenatal testing market in the region. China, Australia, India and Japan are likely to surface as major contributors to the market”s growth.
Rising Number of Late Pregnancies to Fuel Non-Invasive Prenatal Testing Market
These days, the average maternal age has risen, due to a surge in the number of working women leading to risky pregnancies, thus resulting in the growth in the market of NIPT. As a woman ages, the risk of delivering a child with Downs syndrome increases with other factors in play, such as number of existing siblings and gap between the baby and its immediate preceding sibling. According to Centers for Disease Control and Prevention, in the year 2016, Down syndrome was the most common chromosomal disorder, as each year about 6000 babies were born with Down syndrome in the U.S.
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Additionally, Centers for Disease Control and Prevention also states in 2017 that older mothers were more likely to have a baby affected by Down syndrome than younger mothers. In other words, the prevalence of Down syndrome increases as the mother”s age increases, which is a key reason that could favor the growth of the non-invasive prenatal testing market across the globe.
Increased Adoption of Testing Among Healthcare Providers to Push Growth
A number of laboratories and companies around the globe are partnering with test providers to be able to offer advanced products and services to patients, which is creating a positive impact on the global non-invasive prenatal testing market. Several public health agencies of major countries around the globe have either started to, or are expected to offer these tests directly. This is further driving the adoption and revenue growth of the test segment as awareness of these procedures is expected to increase amongst the global population.
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Rise in awareness regarding non-invasive prenatal testing across the world is expected to boost the revenue of the global non-invasive prenatal testing (NIPT) market to a large degree. Even presently, obstetricians are increasingly recommending patients to undergo non-invasive tests as an alternative to invasive methods and for initial diagnostic screening in the first trimester of pregnancy. These are some of the key factors predicted to drive the growth of the global non-invasive prenatal testing market.
The global non-invasive prenatal testing (NIPT) market is expected to witness solid growth in the forthcoming years, according to a report published by Transparency Market Research (TMR). The market”s competitive landscape features fragmentation with the presence of several global and local players. The vendors offer a number of products from different segments and sub-segments of the market. Vendors are largely engaged in the research, development and distribution of equipment and spaces in order to gain a strategic footing in the overall market. The industry is also driven by the launch of innovative and novel products, and strategies such as mergers and acquisitions of emerging laboratories, and collaborations between manufacturers. A recent instance is the acquisition of Sequenom Inc. by LabCorp.
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Some of the key vendors operating in the global non-invasive prenatal testing market are BGI Health, Illumina, Inc., Berry Genomics, Ariosa Diagnostics, Natera, Inc., LabCorp, and LifeCodexx AG.
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ALBANY, New York, June 13, 2018 /PRNewswire/ —