Newborn Screening Market to be Worth $2.49 Billion by 2030

Meticulous Research®—a leading global market research company, published a research report titled, ‘Newborn Screening Market by Product (Consumables, Instruments) Technology (Tandem Mass Spectrometry, Pulse Oximeter, Molecular Assays, Immune Assays) Application (CHD, Infectious Diseases, Inherited & Hearing Disorders) End User – Global Forecast to 2030.’

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According to this latest publication from Meticulous Research®, the global newborn screening market is projected to reach $2.49 billion by 2030, at a CAGR of 7.9%. The factors driving the market are the rising prevalence of congenital heart diseases and genetic diseases, the increasing neonatal population, and rising awareness regarding newborn screening. Factors such as government programs & legislation promoting newborn screening and emerging economies are a few opportunities that would help grow the market in the future.

Factors such as ethical concerns related to newborn screening and the high cost of genomic newborn testing could be considered as challenges for the newborn screening market. However, the shortage of healthcare professionals and the emergence of non-invasive prenatal screening technologies restrain the growth of the market.

Key Players

The key players profiled in the newborn screening market report are Thermo Fisher Scientific, Inc. (U.S.), ARCHIMED Group (France), PerkinElmer, Inc. (U.S.), Medtronic plc (Ireland), Trivitron Healthcare Pvt Ltd. (India), Bio-Rad Laboratories, Inc. (U.S.), Demant A/S (Denmark), Baebies, Inc. (U.S.), ZenTech s.a. (Belgium), and F. Hoffmann-La Roche AG (Switzerland).

The global newborn screening market is segmented by Product (instruments and consumables), Technology (immune assays & enzymatic assays, tandem mass spectrometry, molecular assays, hearing screening technologies, pulse oximetry, and other technologies), Application (congenital heart disease, inherited disorders {metabolic disorders, endocrine disorders, hemoglobin disorders, and other inherited disorders}, infectious diseases, hearing disorders, and other applications), End user (hospitals and reference laboratories), and Geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.

Among products, in 2023, the consumables segment is expected to account for the largest share of the market. The recurring demand for consumables compared to instruments, the availability of diverse kits for newborn screening, and the increase in the number of parents opting for newborn screening are some of the factors supporting the largest share of this segment.

Among technologies, in 2023, the tandem mass spectrometry segment is expected to account for the largest share of the market. The large market share of this segment is attributed to factors such as the capability to simultaneously screen multiple diseases, cost-effectiveness, high-throughput capability, and rapid turnaround time.

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Among applications, in 2023, the inherited disorders segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the high prevalence of inherited diseases in newborns, variations or mutations in the genes, inherited gene defects, and abnormality in genetic composition.

Among end users, in 2023, the hospitals segment is expected to account for the largest share of the market. The large share of the segment is attributed to the high preference of hospitals for childbirth delivery, better infrastructure, utilization of advanced techniques in hospitals, and the availability of skilled professionals.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America and the Middle East & Africa. In 2022, North America is expected to account for the largest share of the newborn screening market, followed by Europe. However, Asia Pacific is slated to register the largest CAGR during the forecast period. The growth of this market is primarily driven by the advancing healthcare infrastructure, supportive government initiatives, and higher birth rates.

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Key questions answered in the report:

·  Which are the high-growth market segments in terms of product, technology, application, end user, and regions/countries?

·  What was the historical market for newborn screening across the globe?

·  What are the market forecasts and estimates for the period 2022–2029?

·  What are the major drivers, restraints, challenges, opportunities, and trends in the global market of newborn screening market?

·  Who are the major players in the global newborn screening market?

·  How is the competitive landscape, and who are the market leaders in the global newborn screening market?

·  What are the recent developments in the newborn screening market?

·  What are the different strategies adopted by the major players in the newborn screening market?

·  What are the geographical trends and high-growth regions/countries?

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Meticulous Research®
Email- sales@meticulousresearch.com
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