ALBANY, New York, June 11, 2019 /PRNewswire/ -- According to a recent report by Transparency Market Research (TMR), the global non-invasive prenatal testing market was valued at US$ 1,300 Mn in 2018 and is anticipated to reach US$ 5,000 Mn by 2027, expanding at a CAGR of 16% from 2019 to 2027.
In terms of test type, the global non-invasive prenatal testing market is led by MaterniT21 segment that represented majority of revenue in 2018. The segment is foreseen to remain worthwhile in the global non-invasive prenatal testing during the forthcoming years as well. Regarding revenue, North America commanded the global non-invasive prenatal testing market in year 2018. High diagnostic and treatment rate of trisomy disorders and the emergence of key organizations in the U.S. are boosting the non-invasive prenatal testing market in the region.
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Advanced Research Strategies and Developments to Boost Demand for NIPT in the Market
Different firms and labs are getting into distribution contracts with test suppliers so as to display the most recent advancement in technology as service and product, both. This coordinated effort is going about as impetus to the market development of non-invasive prenatal testing. Another accelerating aspect for the growth of NIPT market is that numerous organizations and healthcare centers are foreseen to offer the test facilities for its patients. This likewise energizes the popularity of the innovation on a global scale and development in revenue, as increasingly more and more people are getting aware about the tests that are available.
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Reduced Rate of Miscarriages Contribute to High Demand in NIPT Market
Among several properties of non-invasive prenatal testing, the critical ones, for example, precision, safety, and its non-invasive nature are the major contributing component for its surging demand in the entire market. It is a standout amongst the most favored methods among the medical experts and expecting moms as it purportedly lessens the risks of unsuccessful labors and securely distinguishes the chromosomal anomalies alongside the sex determination. Also, inferable from rising number of babies born with Down syndrome, the demand for NIPT grows in the market. Additionally, there has been a discernible shift towards conceiving babies at later age and along these lines to maintain a strategic distance from the risks of unsuccessful labors and abnormalities, NIPT is favored progressively over different tests because of its properties.
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The global non-invasive prenatal testing market is probably going to observe a colossally competitive scenario in the forthcoming years. The market landscape is evaluated to be tremendous because of the existence of leading firms in several geographical regions of the world. An ever increasing number of organizations are getting into mergers and acquisitions, and partnerships owing the extent of development in the market. Firms are hoping to experience growth in revenue and global reach, by expanding their product portfolio, and investing in R&D activities.
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In 2015, Roche Diagnostics partnered with Human Longevity to analyze entire genome sequencing that added to think about patient's sample based on genetic components and innovate the new methods for treatment. Moreover, Berry Genomics Co. Ltd., Sequenom Inc., Illumina Inc., LifeCodexx AG, and Laboratory Corporation of America Holdings are some of the leading players in the global non-invasive prenatal testing market.
The study presented here is based on a report by Transparency Market Research (TMR) titled, "Non-Invasive Prenatal Testing Market (Test Type - Materni21, Harmony, Panorama, Verifi, NIFTY; Application - Trisomy, Microdeletions Symptoms, Others (Including Sex Chromosomes Disorders); Technology - NGS, WGS; End use - Hospitals, Diagnostic Laboratories) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027."
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