Albany NY, United States, May 09, 2022 (GLOBE NEWSWIRE) -- The global newborn screening market is estimated to gain a valuation of US$ 3.3 Bn by 2031. Hence, it is expected to expand at a CAGR of 11.2% during the forecast period of 2021 to 2031, notes a study by Transparency Market Research (TMR).
Players operating in the global newborn screening market are collaborating with other organizations in order to study the present pediatric screening state. For instance, many companies focused on rare diseases, including Retrophin, Inc., the EveryLife Foundation for Rare Diseases, Orchard Therapeutics Inc., Sarepta Therapeutics, and BioMarin Pharmaceutical Inc. have collaborated in order to study the capacity of newborn screening in the U.S.
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Healthcare professionals around the world are increasing the adoption of advanced technologies such as rapid point-of-care tools instead of traditional screening techniques of blood samples collection on a filter paper for newborns with sickle cell anemia. Such efforts are prognosticated to drive the growth in the newborn screening market.
Healthcare organizations are collaborating in order to increase their R&D efforts to develop technologically advanced diagnostic medical tools that can help in decreasing mortality and morbidity rates in newborns. Moreover, several enterprises operating in the newborn screening market are focusing on new product launches and product innovations. Such initiatives are helping in rapid market expansion.
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Newborn Screening Market: Key Findings
- Players operating in the global newborn screening market are increasing efforts to decrease the mortality and morbidity rates linked to heritable disorders in children and newborns. Furthermore, several organizations such as the Health Resources and Services Administration (HRSA) are increasing focus on R&Ds. Hence, the organization has selected Altarum, which is a non-profit research and consulting organization in order to lead the Innovations in Newborn Screening Interoperability Resource Center. Such activities are anticipated to drive the newborn screening market during the forecast period.
- Healthcare service providers across the globe are engaging in initiatives in order to improve the connectivity between healthcare providers and state public health newborn screening programs, notes a TMR study on the newborn screening market. Thus, healthcare professionals are using tools of information management as well as taking technical assistance of newborn screening programs. These efforts are resulting in improved medical outcomes of children and newborns, which, in turn, are anticipated to propel the newborn screening market in the years ahead.
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Newborn Screening Market: Growth Boosters
- Increase in cases of critical congenital heart issues, including tricuspid atresia and pulmonary atresia globally is propelling the newborn screening market
- Rise in need of apt and advanced diagnosis of NICU diseases is fueling business avenues in the market for newborn screening
Newborn Screening Market: Regional Analysis
- The newborn screening market in North America is projected to observe profitable prospects in the forthcoming years, owing to factors such as rise in prevalence of critical congenital heart diseases in newborns, existence of key players, and new product launches in the region
- The Asia Pacific newborn screening market is expected to gain sizable business opportunities during the forecast period, owing to increase in birth rates, presence of many emerging economies, advancements in healthcare infrastructure, and rise in R&Ds by regional players
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Newborn Screening Market: Key Players
Some of the key players profiled in the report are:
- Trivitron Healthcare
- PerkinElmer, Inc.
- Medtronic Plc
- Natus Medical Incorporated
- Bio-Rad Laboratories, Inc.
- Thermo Fisher Scientific, Inc.
- ZenTech S.A.
- GE Healthcare (General Electric Company)
- Baebies, Inc.
- MP BIOMEDICALS
- Masimo
Newborn Screening Market Segmentation
Product
- Instruments
- Tabletop
- Point-of-care Testing
- Assay Kits
Test Type
- Dry Blood Spot Test
- Hearing Screen Test
- Critical Congenital Heart Disease (CCHD) Test
- X-ray or CT Scan
- Electrocardiogram (ECG) Test
- Others
End User
- Hospitals
- Diagnostic Centers
- Maternity & Specialty Clinics
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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