Global Prenatal and New-born Genetic Testing Market: Snapshot
Prenatal and new-born genetic tests refer to the systematic diagnostic tests and screenings undertaken to determine the risk of certain genetic disorders in newborn children and fetuses in stages as early as eight to ten weeks of gestation. The use of a variety of screening and diagnostic tools for detecting chromosomal abnormalities and the risk of diseases such as Patau syndrome, Down syndrome, and Edward syndrome is increasing at a significant pace across the world.
The vast rise in prevalence of genetic abnormalities and late pregnancies are some of the key factors to have led to an increased demand for prenatal and new-born genetic tests across the globe. The vast advancements observed in diagnostic and screening technologies and the rise in awareness about genetic diseases are also considered crucial to the rising demand for genetic tests in children, both before and after birth. Transparency Market Research states that the market will exhibit a remarkable 26.9% CAGR over the report’s forecast period.
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Emerging Markets to Present Most Lucrative Growth Opportunities
Presently, North America is the dominant market for the global prenatal and newborn genetic testing market, accounting for a massive chunk of the overall market. Apart from a large pool of highly-aware parents and a rising prevalence of genetic disorders in the region, the large number of companies operating in the diagnostics as well as screening sectors have also helped the prenatal and newborn genetic testing market strengthen its foothold in the region. Another developed region, Europe, is also a mature market for prenatal and newborn genetic testing.
However, in the next few years, the prenatal and newborn genetic testing market will witness the most traction across emerging regional markets such as Asia Pacific, and Middle East and Africa. The vast untapped opportunities in these regions and an encouraging rise in awareness about genetic testing, rising affordability, and increasing prevalence of genetic diseases will together contribute towards the healthy growth of the prenatal and newborn genetic testing market in these regions in the near future.
Some of the key vendors operating in the diagnostics field of prenatal and newborn genetic testing are Ariosa Diagnostics, Bio-Rad Laboratories, Perkin Elmer, and Agilent Technologies. Key vendors operating in the screening segment of prenatal and newborn genetic testing are Verinata Health and Sequenom, Inc.
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