NEW YORK, June 10, 2021 /PRNewswire/ -- Award-winning market research firm Fact.MR forecasts a healthy growth outlook for global newborn screening market over the forecast period of 2021 and 2031. The market is poised to expand at a CAGR of over 8% to surpass a valuation of US$ 1 Bn by 2031.
With the increasing birth rates, there's a surge in the cases of infant disorders such as hearing impairment, congenital thyroidisim and other hormonal disorders. Thereby, improving the adoption of newborn screening tests.
Demand for effective diagnostic solutions has compounded with rising mortality rates among newborns, prompting healthcare professionals to increase the investment in the development of advanced newborn screening tests.
Manufacturers are increasing their research and development activities to foray into emerging economies such as India, China and Brazil amid the increasing birth rates in the countries.
According to the World Health Organization, India recorded 17.3 births per 1000 people in the year 2020, which is nearly 1/5th of global annual childbirths. With increasing birth rates, there's a rising prevalence of congenital hypothyroidism and phenylketonuria among infants.
Subsequently, government is increasing the newborn healthcare infrastructure and providing funding and packages for the newborn screenings. Thereby, bolstering market growth.
"Rising infant birth as well as mortality rates in the emerging economies such as India, China and Brazil are providing ample of opportunities for the newborn screening market in the region," says a Fact.MR analyst.
In terms of product, newborn screening consumables demand is poised to expand at nearly 8% CAGR through 2031
Based on technology, immunoassay-and enzymatic assay, collectively, are expected to lead the segment, exhibiting a CAGR of over 7% during the forecast period
In terms of test, dry blood spot newborn screening is poised to acquire precedence, registering growth at 9% CAGR
The U.S. newborn screening market is likely to generate significant opportunities for the market players, expanding at a CAGR of 5% over the forecast period
Increasing government initiatives to curb the infant mortality rates across India will bolster the demand of newborn screening, generating around 30% of revenue
China is anticipated to lead the East Asia market, accounting for over 50% of market share owing to the increasing cases of congenital hypothyroidism in the region
Key players are focusing on expansion of their product portfolios through acquisition of existing players and forming alliance with top companies. Manufacturers are also reliant on strategic partnerships and mergers to expand their global reach and maintain their position in the industry.
In September 2020, PerkinElmer received approval for its new launch of CE-IVD approval for EONIS screening assay used to screen spinal muscular atrophy, X-linked agammaglobulinemia, and severe combined immunodeficiency among newborns.
In February 2021, LifeCell, India's largest stem cell back announced relief fund and special offers to the parents for the screening of newborns. Baby shield Newborn Screening combines biochemical testing of 100+ metabolic and genetic conditions with confirmatory genetic testing.
In December 2019, PerkinElmer received the U.S. Food and Drugs Administration approval for GSP Neonatal Creatine Kinase-MM kit for newborn screening affected by Duchenne muscular dystrophy.
Prominent newborn screening manufacturers listed in Fact.MR's report are listed below:
Chromsystems Instruments & Chemicals GmbH
Natus Medical Inc.
RECIPE Chemicals + Instruments GmbH
More Valuable Insights on Newborn Screening market
Fact.MR, in its latest study, offers a detailed segmentation on the global newborn screening market. The study divulges essential insights on the major trends and opportunities of global newborn screening market. To gain a better perspective on the market potential and scope, the market is classified on the basis of:
Newborn Screening Instruments
Disorder Screening Instruments
Fully Automated Newborn Screening Instruments
Other Newborn Screening Instruments (Semi-automated Instruments, Shakers, Incubators, etc.)
Hearing Screening Instruments
Newborn Screening Accessories
Newborn Screening Devices
Newborn Screening Assay Kits & Reagents
Other Newborn Screening Consumables (Columns and Screening Cards)
Other Newborn Screening Technologies (Fluorescence, Gel Electrophoresis, etc.)
Newborn Screening at Clinical Laboratories
Newborn Screening at Hospitals
North America (U.S. and Canada)
Latin America (Brazil, Mexico, Argentina, and Rest of Latin America)
Europe (Germany, U.K., France, Spain, Italy, and Rest of Europe)
East Asia (China, Japan, and South Korea)
South Asia (India, ASEAN, and Rest of South Asia)
Oceania (Australia and Rest of Oceania)
Middle East and Africa (GCC, South Africa, and Rest of MEA)
Key Questions Covered in the Report
What are the growth prospects for newborn screening products manufacturers during the forecast period?
Which are the prominent manufacturers operating in the newborn screening market?
Which region will be the most lucrative for newborn screening markets?
Which technology of newborn screening will be the most preferred in the upcoming decade?
Which test type of newborn screening market will have the highest market share during the forecast period?
What are the key challenges faced by newborn screening manufacturers?
What is the impact of Covid-19 on newborn screening market?
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