Newborn Screening Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030
Newborn Screening Market – Overview
The newborn screening market is predicted to rise at a stellar growth rate for the 2020 – 2030 forecast period. Rising prevalence of newborn disorders, availability of neonatal intensive care facilities, and favorable reimbursement scenarios are spelling growth in the newborn screening market.
Key parameters based on which the newborn screening market is divided are product, technology, and region.
The report provides an all-important analysis of the newborn screening market for the 2020 – 2030 forecast period covering demand dynamics, key segments, and competitive landscape.
Newborn Screening Market – Competitive Landscape
The newborn screening market features an intensely competitive vendor landscape with the presence of several large medical devices manufacturing companies in the fray. Product innovation and development of existing products is the key focus of keen players in the newborn screening market to consolidate their position. These players are investing heavily in R&D and capital investments for such initiatives. M&As and strategic collaborations is also what keen players are engaged in to garner higher revenue share in the newborn screening market.
Prominent players in the newborn screening market include;
Newborn Screening Market – Key Drivers
The vast rise in prevalence of newborn disorders that requires a combination of treatment, including screening is creating opportunities in the newborn screening market. Manufacturers of newborn screening are making intense efforts to develop avant-garde screening devices that feature all-in-one capabilities.
Newborn screening usually involves detection of hearing, hormonal, congenital heart diseases, and metabolic disorders that can be treated if diagnosed early.
In the U.S, during 2015 – 2017, the statistics of newborn disorders was 34 for every 10,000 live births, according to the US CDC. Going by these numbers, nearly 12,900 infants are expected to be detected with a disorder each year, adds the US CDC.” Hearing loss, sickle-cell disease, cystic fibrosis, and congenital hypothyroidism are most prevalent among newborns and infants that requires screening.
The high prevalence of congenital heart disease among newborns that requires screening underscores growth in the newborn screening market. According to the Indian Pediatric Academy, 9 out of each 1,000 births are identified with congenital heart disease in India. This translated to more than 200,000 children that are born with congenital heart diseases each year in the country.
Another statistics projected for congenital heart disease by BabysFirstTest.org – an organization that receives support from the US Health Resources and Services Administration – critical congenital heart disease is likely to affect two out of each 1,000 births each year in the U.S. in the future.
Newborn Screening Market – Regional Landscape
Asia Pacific is a key region in the overall newborn screening market owing to high birth rates and increasing disposable incomes in emerging economies of the region. According to statistics of the United Nations Children’s Fund, India registers 25 million births each year, which is nearly one-fifth of the total childbirths each year globally.
The modernization of healthcare facilities, availability of technologically advanced medicine, and rising disposable incomes in India is opening the expanse of newborn screening. This is creating opportunities in the newborn screening market of Asia Pacific.
Besides this, China accounts for significant revenue to the newborn screening market in Asia Pacific. In the past 35 years, China has recorded tremendous demand for newborn screening for the detection of newborn disorders. For example, in 2017, the overall rate of PKU and CH screening crossed 96%.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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