Newborn Screening Market Size is Forecast to Reach $ 3.1 Billion by 2027

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According to Nova one advisor, the global Newborn Screening market value was estimated at US$  1.0 Billion i in 2020 and is projected to reach US$ 3.1 Billion by 2027, registering a CAGR of 7.1% from 2020 to 2027. The report contains 150+ pages with detailed analysis.

Overview of Newborn Screening Market Study

Newborn Screening market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

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Growth Factors:

increasing occurrence of congenital disorders that lead to mental retardation or dysfunctioning body organs and the availability of advanced screening technologies are expected to drive market growth over the forecast period.

Furthermore, the market is expected to witness a boost in demand owing to, the presence of Federal Bodies involved in organizing awareness and quality assurance programs to imbibe faith and decrease the number of deaths caused due to negligence & non-screening. For instance, in 2011, the Ministry of Health, Japan recommended the use of mass spectrometry in newborn screening, and by 2014, the entire nation started utilizing it for 19 critical conditions.

Global Newborn screening Market Dynamics

Driver: growing prevalence of newborn disorders

The prevalence of newborn diseases has risen in recent years, prompting providers to raise awareness and support the demand for advanced screening instruments. Hearing, metabolic, and hormonal disorders and critical congenital heart disease are the major newborn disorders; most are treatable if diagnosed early.

  • According to the US CDC, during 2015–2017, the prevalence of newborn disorders was 34 per 10,000 live births in the US. Approximately 12,900 infants are expected to be identified each year with a disorder. Moreover, according to the same source, the most prevalent disorders are hearing loss (16.5 per 10,000), congenital hypothyroidism (6.0 per 10,000), sickle-cell disease (4.9 per 10,000), and cystic fibrosis (1.8 per 10,000).
  • According to the Indian Pediatric Academy, the prevalence of congenital heart disease in children is 9 per 1,000 births. Each year, more than 200,000 children are born with congenital heart disease.
  • According to BabysFirstTest.org, an organization supported by the US Health Resources and Services Administration (HRSA), critical congenital heart disease is estimated to affect two out of every 1,000 babies born each year in the US.

Opportunity: Emerging Markets

India, China, and Brazil provide significant opportunities to players in this market due to their high birth rates and increasing disposable income. According to the UN Children’s Fund, India records 25 million births every year, or nearly one-fifth of the global annual childbirths. The high birth rate and the availability of newborn screening in public hospitals indicates a strong demand for market products and consumables.

On the other hand, China has achieved great progress in newborn screening during the past 35 years. Moreover, by 2017, the overall uptake rate for CH and PKU screening crossed 96%. Also, each year, nearly 17 million infants undergo screening for CH and PKU. Currently, CH/PKU and hearing loss are included as national screening programs, mandatory for all newborns in China. By 2017, more than 150 NBS labs in China offered screening programs for CAH and G6PD. There are also ~100 NBS labs screening for IMDs by using tandem mass spectrometry technology. The strong newborn screening infrastructure in China indicates the potential for market growth.

Consuables segment accounted for the largest share of the newborn screening market by product in 2019

Based on the product, the newborn screening market is segmented into consumables and instruments. In 2019, consumables accounted for the largest share of the newborn screening market. The large share of this market segment is mainly due to the constant requirement for consumables in newborn screening. The increasing newborn disease prevalence, and increasing newborn screening rate across the globe are the major driving factors that supports the growth of consumables.

Immunoassays & enzymatic assays accounted for the largest share of the newborn screening market by technology in 2019

Based on technology, the newborn screening market is segmented into immunoassays & enzymatic assays, tandem mass spectrometry, molecular assays, hearing screening technologies, pulse oximetry, and other technologies. In 2019, the immunoassays & enzymatic assays segment dominated this market. This is mainly due to the wide usage of these assays to screen for disorders in newborns.

North America accounted for the largest share of the newborn screening market in 2019

The newborn screening market, by region, has been segmented into North America, Europe, the Asia Pacific, and the Rest of the world (RoW). North America is the largest market for newborn screening, followed by Europe. Growth in the North American market can be attributed to the availability of newborn screening programs, favorable reimbursement policies, and a strong market player presence.

The Asia Pacific is expected to register the highest CAGR during the forecast period. Growth in this region is driven by the large newborn pool, increasing screening rate, and rising awareness regarding early diagnosis.

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COVID-19 Impact on Newborn Screening Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Newborn Screening market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Newborn Screening market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Newborn Screening market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Newborn Screening market include:

PerkinElmer (US), Demant A/S (Denmark), Natus Medical (US), Bio-Rad Laboratories (US), Danaher Corporation (US), and Medtronic (Ireland), Chromsystems Instruments & Chemicals GmbH (Germany), Trivitron Healthcare (India), Baebies (US), and Recipe Chemicals+Instruments (Germany)

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

By Product

  • Consumables
    • Assay kits & reagents
    • Other consumables ( columns and screening cards)
  • instruments
    • Disorder screening instruments
      • Fully-automated instruments
      • Other instruments (sei-automated instrumetns, shakers, incubatorea and etc.)
  • Hearing screening instruements
    • Accessories
    • Devices
  • Pulse oximeters

By Test

  • Dry blood spot tests
  • Hearing screening tets
  • CCHD screening tets

By technology

  • Immune assays & enzymatic assays
  • Tandem mass spectrometry
  • Molecular assays
  • Hearing sceening technologies
  • Pulse oximetry
  • Other Technologies (Flouroscence, gel electrophoresis and etc.)

Browse Complete Table of Content@ https://www.novaoneadvisor.com/toc/newborn-screening-market

Why Buy this Report?

The purpose of Nova one advisor’s Newborn Screening market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

Download This Full Research Report, Click Here@ https://www.novaoneadvisor.com/report/checkout/4384

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