Prenatal and New-born Genetic Testing Market worth over $7 Billion by 2024: Global Market Insights, Inc.

Prenatal and New-born Genetic Testing Market Size By Technology, By Disease, By End-use and Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, China, India, Japan, Australia, Brazil, Mexico, Argentina, Saudi Arabia, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024

Sellbyville, Delaware, June 05, 2018 (GLOBE NEWSWIRE) —

Global Prenatal and New-born Genetic Testing Market is poised to surpass USD 7 billion by 2024; according to a new research report by Global Market Insights. Prenatal and new-born genetic testing market will show stable growth in the upcoming years due to increasing prevalence of genetic disorders and chromosomal anomalies that has resulted in demand for prenatal and new-born screening for early detection of birth defects.  As per CDC, birth defects occur in about 3% of the total live births across the world, leading to infant death.

Increasing benefits and technological advancements in the field of infant genetic testing will drive the prenatal and new-born genetic testing market. Increase in adoption of new technologies such as non-invasive prenatal testing (NIPT) and non-invasive cell-free fetal DNA-based screening in the developed regions of America, for early detection of births defects will foster market growth opportunities. Inclination towards minimally invasive genetic testing is likely to increase owing to advantages offered such as early detection, painless procedure and minimum amount of time needed for deriving necessary results.

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Rise in number of consanguineous relations across the developing nations of Asia and Middle East will increase the demand for the use of prenatal and new-born genetic testing to diagnose the probabilities of birth defect. The rising consanguinity rates could result in genetic disorders and autosomal recessive diseases. The rising consanguineous populations arising from cousin marriages are resulting in higher inbreeding offspring. Hence, upsurge in cases of live births with genetic abnormalities is likely to increase the use of prenatal and new-born genetic testing.

The prevalence of genetic disorders and birth defects among the European population is quite high and it is the major reason for around 25% prenatal deaths. Definite measures taken by the governing authorities in the EU region for conducting prenatal and new-born genetic tests will increase in the number of infant screening programs giving rise to market growth opportunities. However, lack of advanced infrastructure and skilled labor in the developing regions will interfere with the implementation of the infant genetic testing programs and hamper the growth of business.

Browse key industry insights spread across 140 pages with 160 market data tables & 11 figures & charts from the report, “Prenatal and New-born Genetic Testing Market” in detail along with the table of contents:

Screening technology recorded the majority of the market share in the year 2017 and is expected to follow similar trend in the overall forecast period attributed to increase in number of pregnancies in women at later stage of life that lead to increased risk of developing genetic disorders in new-borns. Rising prevalence of genetic abnormalities among the live births across the globe along with increasing awareness in couples related to birth defects will augment the market growth in the future.

Downs syndrome accounted for more than fifty percent market share of the prenatal and genetic testing market and is estimated to show steady growth in the forecast period. The probability of women giving birth to a baby with Downs syndrome rises if the women pregnancy is in the later stage of life. The expanding downs syndrome population across the world along with increasing awareness among people regarding infant health will fuel the Prenatal and new-born genetic testing market growth.

Hospitals will dominant the prenatal and newborn genetic market in the forecast period owing to increase in number of live births per year across the world. Recently many of the hospitals provide the necessary facilities along with newborn screening procedure immediately after the birth. The provision of these screening facilities in the hospitals immediately after birth will automatically create vivid range of scope for prenatal and new-born genetic testing market growth.

The pervasiveness of genetic diseases such as galactosemia, phenylketonuria and severe combined immune deficiency (SCID) in the U.S. will mark the growth of market. Genetic diseases are the major reason for infant mortality in U.S. accounting for around 20% of total annual infant deaths. The mandatory new-born screening programs initiated by the government with screening coverage up to 99% coupled with provision of healthcare insurance coverage will be a major boost to the prenatal and new-born genetic testing market.

In APAC Prenatal and new-born genetic testing market, the use of genetic testing in Japan is increasing owing to rise in the number of infants born with disability and genetic defects. The permission granted by Japan Society of Obstetrics and Gynaecology to a number of medical institutions and uncertified medical facilities to conduct infant genetic testing will increase the amount of prenatal and new-born genetic screening thus by augmenting the business growth in Japan in the future.

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Some of the prominent industry players operating in global prenatal and new-born genetic testing market are Ariosa Diagnostics (Roche), Berry Genomics, BGI, Biorad, Illumina, Laboratory Corporation of America, Natera, Qiagen, Sequenom, Trivitron Healthcare and Verinata health. Merger and acquisition and new product launch was the most commonly adopted growth strategy by the industry participants. In March 2018, Natera declared a partnership with QIAGEN to develop cell-free DNA assays for QIAGEN’s GeneReader NGS System. These DNA assays will be developed and designed for tests, including prenatal screening, for laboratories and hospitals globally.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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