Non-Invasive Prenatal Testing Market Size to Surpass USD 13.16 Billion by 2028, exhibiting a CAGR of 18.1%

Pune, India, July 12, 2023 (GLOBE NEWSWIRE) — Fortune Business Insights said the global Non-Invasive Prenatal Testing Market size was valued at USD 3.48 billion in 2020. The market is projected to grow from USD 4.11 billion in 2021 to USD 13.16 billion by 2028, exhibiting a CAGR of 18.1% during the forecast period. According to the report titled “Non Invasive Prenatal Testing (NIPT) Market, 2021-2028” by Fortune Business Insights, the market reached a value of USD 3.48 billion in 2020. The rising prevalence of congenital disabilities in newborns worldwide is driving the future demand for this product.

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Key Industry Development:

Pacific Biosciences announced its decision to acquire Omniome, a San Diego-based company. This acquisition is likely to help the company expand its product portfolio.

Key Takeaways:

• Trisomy 21, a chromosomal abnormality, impacts approximately 5,000 infants annually in the United States, making it one of the most prevalent cases.
• Non-invasive tests have been designated as the standard screening tests for pregnant women in the Netherlands.
• Based on a report released by the Office for National Statistics (ONS) in England, the average age of mothers rose slightly from 30.4 years in 2016 to 30.5 years in 2017.
• The market is divided into consumables & reagents and instruments based on the product segmentation.

Discover the Leading Players Featured in the Report:

Illumina, Inc.  (U.S.), YOURGENE HEALTH (U.K.),Natera (U.S.),F. Hoffmann-La Roche Ltd (Switzerland),PerkinElmer Inc. (U.S.),Laboratory Corporation of America (U.S.),Eurofins LifeCodexx GmbH (Germany)

Report Scope & Segmentation

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Driving factor:

Increasing Incidence of Birth Defects to Aid Growth

According to a report published by the Office for National Statistics (ONS) in England, the average age of mothers increased to over 30.5 years in 2017, compared to 30.4 years in 2016. However, this demographic shift has contributed to an increase in cases of Down Syndrome among newborns. For instance, in 2019, Europe witnessed approximately 104,000 babies born with congenital anomalies, with 8,320 babies diagnosed with Down Syndrome. To address this issue, government agencies worldwide have implemented supportive policies to ensure adequate treatment and raise awareness among the population. These factors are expected to positively impact the growth of the global Non-Invasive Prenatal Testing market during the forecast period.

Segmentation:

The market is categorized into consumables & reagents and instruments based on the product segmentation. Additionally, it is further segmented based on technology into next-generation sequencing, microarray, PCR, and rolling circular amplification.

• The next-generation sequencing segment held the largest market share of approximately 77.8% in 2020, dominating the industry due to the increasing adoption of technologies such as PCR and microarray.

The market is also segmented based on end-users into hospitals and clinical laboratories. Lastly, it is categorized by region into North America, Latin America, the Middle East and Africa, Europe, and Asia-Pacific.

By Product

• Consumables & Reagents
• Instruments

By Technology

• NGS
• Microarray
• PCR
• Rolling Circular Amplification

By End User

• Hospitals
• Clinical Laboratories

By Region

• North America
• Europe Asia Pacific
• Latin America
• Middle East & Africa

Regional insights:

North America is set to maintain its dominant position, bolstered by the presence of reputable companies. The region achieved a market value of USD 1.79 billion in 2020 and is anticipated to continue leading throughout the forecast period. This can be attributed to the active involvement of prominent companies dedicated to advancing and innovating Non-Invasive Prenatal testing solutions in the coming years.

Meanwhile, the Asia-Pacific market is expected to witness substantial growth, driven by the increasing demand for early diagnosis of chromosomal disorders during pregnancies in countries like India, China, and Japan.

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Competitive Landscape

In order to expand their product portfolios and increase sales revenue, renowned companies are engaging in mergers and acquisitions within the Non-Invasive Prenatal Testing market. The market landscape is currently fragmented due to the presence of major companies that are strategically acquiring smaller firms to develop advanced diagnostic solutions to meet the rising demand in the healthcare sector. Additionally, the adoption of both organic and inorganic strategies by these companies is expected to contribute to the increased demand for the product throughout the forecast period.

FAQs

How big is the Non-Invasive Prenatal Testing Market?

Non-Invasive Prenatal Testing Market size was USD 4.11 billion in 2021.

How fast is the Non-Invasive Prenatal Testing Market growing?

The Non-Invasive Prenatal Testing Market will exhibit a CAGR of 18.1% during the forecast period, 2021-2028.

Have Any Query? Ask Our Experts:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/non-invasive-prenatal-testing-market-100998

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