The latest market report published by Credence Research, Inc. “Global Newborn Screening Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The Global Newborn Screening Market generated revenue of around USD 846.1 billion in 2022 and is anticipated to grow a CAGR of over 8.50% during the forecast period from 2023 to 2030 to reach around USD 1497.71 billion in 2030.
Growing newborn screening programs, the rising prevalence of congenital diseases, rising revenues from government sectors for newborn screening, and developments in newborn screening technology all contribute to the market’s expansion. Moreover, government-administered newborn screening programs across the continent are predicted to significantly impact the growth of the newborn screening market, as numerous nations mandate newborn screening before hospital discharge.
The global newborn screening market is bifurcated into Product Type, Test Type, Technology, End User, and Geography. Based on product type, the market is categorized into Instrument and Consumables. On the basis of test type, the global market is segmented into Blood tests, Hearing screening tests, and Heart screening. Based on technology, the newborn screening market is categorized into Tandem Mass Spectrometry (TMS), Molecular Assays, Immunoassays and Enzymatic Assays, Hearing Screen Technology, Pulse Oximetry Screening Technology, and Others. The global market is segmented into Hospitals and Clinical laboratories based on end users. Based on geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America was predicted to hold a significant proportion of the global newborn screening market in 2022. Due to the growing occurrence of congenital disorders and obligatory testing in all 50 states, North America maintained the largest market share for newborn screening. The newborn screening programme is strictly administered in every state in North America. State health officials in the U. S. have published free data and created websites to aid parents in coping with these disorders to raise awareness.
The newborn screening market has witnessed significant growth over the years, owing to the increasing prevalence of genetic disorders among newborns. Several key players are operating in this space, including PerkinElmer Inc., Bio-Rad Laboratories Inc., Natus Medical Incorporated, Masimo Corporation, and Medtronic plc. These companies offer a wide range of products such as blood spot test kits for detecting metabolic disorders, hearing screening devices for identifying hearing impairments in infants, and pulse oximeters for monitoring oxygen levels.
The newborn screening market is expected to experience significant growth worldwide due to various factors.
- One of the primary growth factors is the increasing incidence of genetic disorders and other congenital conditions among newborns.
- Newborn screening is a routine screening test performed on newborns to detect the presence of certain genetic disorders or metabolic conditions early in life. Early detection and treatment of these conditions can significantly improve the health outcomes of affected infants, leading to an increasing demand for newborn screening tests.
- Moreover, advancements in screening technologies and the development of new screening tests for a wider range of conditions are driving market growth. For instance, the introduction of tandem mass spectrometry (MS/MS) and DNA-based testing has significantly improved the accuracy and reliability of newborn screening tests, leading to an increasing adoption of these tests.
- Furthermore, government initiatives and policies promoting newborn screening programs, particularly in developing countries, are expected to drive market growth. For instance, the World Health Organization (WHO) has recommended the implementation of comprehensive newborn screening programs in all countries to improve the health outcomes of newborns.
- Additionally, the increasing awareness about the importance of newborn screening among parents, healthcare providers, and policymakers is expected to drive demand for these tests.
- Geographically, the newborn screening market is expected to witness strong growth in North America and Europe, where there is a high incidence of genetic disorders and congenital conditions among newborns and established newborn screening programs. The Asia-Pacific region is also expected to witness significant growth, driven by the increasing adoption of newborn screening programs in developing countries and growing awareness about the importance of early detection and treatment of genetic disorders.
- Overall, the newborn screening market is expected to experience significant growth worldwide in the coming years due to various factors such as increasing incidence of genetic disorders and congenital conditions, advancements in screening technologies, government initiatives, and growing awareness about the importance of newborn screening.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global Newborn Screening market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth global newborn screening market segmentation analysis based on Product Type, Test Type, Technology, End User, and Geography.
- Major countries in each region with their import/export statistics
- The global Newborn Screening market report also includes analyzing the global, regional, and country levels, key market trends, significant players analysis, market growth strategies, and key application areas.
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