[New Report] Newborn Screening Market is estimated to be US$ 2.9 billion by 2029 with a CAGR of 10.8 % during the forecast period-By PMI

Covina, Sept. 13, 2023 (GLOBE NEWSWIRE) — Newborn screening is a test which basically carried out in identifying any harmful or potentially fatal disorders which can have an effect on a child’s long-term health and survival. By using this test, early detection and appropriate standards of diagnosis and treatment makes possible to prevent death and promote the healthy development of an infant.

The rising neonatal population and growing prevalence of new-born disorders has provided lucrative opportunities in market growth. Further, rising favorable government programs for newborn screening has driven market growth. The presence of major players and launch of advanced instruments in screening is expected to foster the demand for Newborn Screening market growth over the forecast period.

Advertisement

The report “Newborn Screening Market, By Product (Instruments, and Reagents and Assay Kits), By Technology (Tandem mass spectrometry, Pulse oximetry, Enzyme and Immunoassays, DNA assay, Electrophoresis, and Hearing Screen), By Test Type (Dry blood spot test, Critical Congenital Heart Disease (CCHD) test, and Hearing screen test), and Region – Global Forecast to 2029″

Key Highlights: 

  • In June 2023, the eight taluk hospitals in Mysuru has set to launch newborn screening programme. The Mysuru-based AIISH (All India Institute of Speech and Hearing) joined hands with Department of Health and Family Welfare to sensitize medical team who is working under RBSK (Rashtriya Bal Swasthya Karyakram) and DEIC (Dsitrict Early Intervention Centre) on screening communication disorders in infant and children.
  • In August 2022, Trivitron Healthcare Pvt. Ltd., has launched new CoE (Centre of Excellence), with state of art R&D manufacturing facilities in newborn screening, genomics, metabolomics and molecular diagnostics. In this newly launched facility, IVD CE-approved kits for newborn screening, cancer markers, infectious & non-infectious diseases, based on ELISA, RT-PCR, CLIA, Rapid cards, and clinical chemistry will be manufactured.

Analyst View:
The advancement in technology coupled with advanced medical instruments, has become a leading factor in target market growth. Further, well-advanced and robust healthcare infrastructure coupled with availability of newborn screening programs and rising awareness among women’s about their health and advancement in tests is expected to fruitful the demand for Newborn Screening market growth in coming years.

“We do provide this report’s sample. Please read the following information to obtain the report” 

Request Free Sample Copy:
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/438

Report Scope:

Attribute Details
Base year for estimation 2022
Forecast period 2022 – 2032
Market representation Revenue in USD Billion & CAGR from 2022 to 2032
Market Segmentation By Product – Instruments, and Reagents and Assay Kits
By Technology – Tandem Mass Spectrometry, Pulse Oximetry, Enzyme and Immunoassays, DNA Assay, Electrophoresis, and Hearing Screen
By Test-Type – Dry Blood Spot Test, Critical Congenital Heart Disease (CCHD) Test and Hearing Screen Test
Regional scope North America – U.S., Canada
Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
Latin America – Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage
 
Customization Available:
Revenue forecast, company share, competitive landscape, growth factors, and trends

https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/438

Who are the major players in Newborn Screening Market?

  • Thermo Fisher Scientific Inc
  • GE Healthcare
  • Bio Rad Laboratories Inc
  • PerkinElmer Inc
  • ZenTech S.A.
  • Trivitron Healthcare
  • MP Biomedicals
  • Agilent Technologies
  • Medtronic plc
  • Natus Medical Incorporated

Request Free Pdf copy of the report:
https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/438

Browse in-depth TOC on “Newborn Screening Market
60 – Tables
35 – Figures
140 – Slides

What are some challenges faced by the Newborn Screening Market?

  • Access and Equity: Ensuring equitable access to newborn screening services can be challenging, especially in low-income and underserved communities. Disparities in healthcare access can lead to some infants not receiving timely screening.
  • Variability in Screening Programs: Screening programs vary from region to region and even from one healthcare facility to another. Consistency in screening protocols and the diseases screened for can be a challenge.
  • Expanding the Test Panel: As new genetic disorders are discovered, there is a constant need to expand the screening panel. This requires substantial research, funding, and regulatory approvals.
  • Cost and Reimbursement: The cost of screening tests and the reimbursement mechanisms in place can be a barrier, especially for families without adequate insurance coverage. Reducing costs while maintaining test accuracy is an ongoing challenge.
  • False Positives and False Negatives: Newborn screening tests are not always 100% accurate. False positives can lead to unnecessary stress and follow-up testing, while false negatives can result in missed diagnoses.
  • Quality Assurance: Ensuring the quality and accuracy of screening tests across different laboratories and healthcare facilities can be challenging. Regular quality control measures are necessary to maintain accuracy.
  • Privacy and Informed Consent: As genetic information is collected during newborn screening, privacy concerns and informed consent for parents become important ethical considerations.
  • Follow-up and Treatment: Identifying infants with a positive screening result is just the first step. Ensuring that these infants receive timely follow-up testing, diagnosis, and treatment is crucial. Coordinating care can be challenging.

What are the Drivers of the Newborn Screening Market?

  • Growing Incidence of Genetic Disorders: The prevalence of genetic and metabolic disorders in newborns is increasing. Awareness and understanding of these conditions have also risen, prompting more demand for screening.
  • Government Mandates and Regulations: Many countries have implemented mandatory newborn screening programs or expanded the list of screened disorders, increasing the number of infants screened. Regulations ensure that a larger portion of the population receives these tests.
  • Rising Healthcare Expenditure: Increasing healthcare expenditure and insurance coverage have made it more accessible for parents to opt for newborn screening services. This has contributed to market growth.
  • Advocacy and Awareness Campaigns: Advocacy groups and healthcare organizations actively promote the importance of newborn screening. These campaigns raise awareness among parents and healthcare professionals, encouraging more widespread adoption.

What is the outlook for mergers, acquisitions, and partnerships within the Newborn Screening Market?

  • Market Growth: The newborn screening market is expanding due to technological advancements, increasing prevalence of genetic disorders, and government mandates. This growth makes it an attractive sector for investment and consolidation.
  • Technological Advancements: Ongoing technological advancements in genetic testing and diagnostics create opportunities for companies to acquire or partner with firms that have innovative screening technologies or proprietary tests.
  • Diversification: Established healthcare companies may seek to diversify their offerings by entering the newborn screening market through acquisitions or partnerships, leveraging their existing infrastructure and customer base.
  • Global Expansion: As awareness and demand for newborn screening increase worldwide, there is potential for mergers, acquisitions, and partnerships to facilitate global expansion and market penetration.
  • Emerging Markets: Companies may explore opportunities in emerging markets where newborn screening programs are still developing, presenting potential for growth through partnerships with local healthcare providers or governments.

Conclusion:

In conclusion, the newborn screening market is characterized by a combination of challenges and drivers that shape its current landscape and future outlook. Challenges include issues related to access and equity, the need for consistent screening protocols, and ethical considerations. However, these challenges are met with significant drivers such as technological advancements, increasing prevalence of genetic disorders, government regulations, and growing awareness, which are propelling the market forward.

About Prophecy Market Insights:
Prophecy Market Insights is a leading provider of market research services, offering insightful and actionable reports to clients across various industries. With a team of experienced analysts and researchers, Prophecy Market Insights provides accurate and reliable market intelligence, helping businesses make informed decisions and stay ahead of the competition. The company’s research reports cover a wide range of topics, including industry trends, market size, growth opportunities, competitive landscape, and more. Prophecy Market Insights is committed to delivering high-quality research services that help clients achieve their strategic goals and objectives.

Other related Reports:

  1. Clinical Decision Support (CDS) Market: Increasing adoption of new technologies and smart solutions with the help of artificial intelligence is the next revolution in patient care that is driving the growth of the market.
  2. Hospital Supplies Market: By Type (Diagnostic, Dialysis, Wound Care, Disinfectants, PPE, Radiology, Sterilization, Catheters), By Application (Urology, Cardiology, Infection Control), End User (Hospitals, Clinics & Physician Offices) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2030
  3. Global Burn Care Centers Market: size, share, opportunities, dynamic innovations challenges and forecast 2032

Blog: www.prophecyjournals.com

Follow us on: LinkedIn | Twitter | Facebook |YouTube


Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.