Dublin, Jan. 19, 2024 (GLOBE NEWSWIRE) -- The "Prenatal DNA Sequencing Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global prenatal DNA sequencing market size has grown rapidly in recent years. It will grow from $2.23 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. North America was the largest region in the prenatal DNA sequencing market in 2023. The growth observed in the historical period can be attributed to changes in patient preferences, advancements and research in the medical field, increased adoption of non-invasive testing, a rise in maternal age, and enhancements in the accuracy and reliability of prenatal DNA sequencing.
The prenatal DNA sequencing market size is expected to see rapid growth in the next few years. It will grow to $4.56 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The anticipated growth in the forecast period can be attributed to consumer demand for early detection, an increase in maternal age and associated pregnancy risks, public health initiatives, support from regulatory bodies and adherence to guidelines, and advancements in data analysis. Noteworthy trends expected in the forecast period include intensified research and development efforts, considerations related to ethics and regulatory frameworks, enhancements in data interpretation tools, integration of precision medicine, and the promotion of prenatal genetic counseling.
The anticipated rise in cancer prevalence is set to drive the growth of the prenatal DNA sequencing market. For example, data from the American Cancer Society in January 2023 showed an increase in cancer cases from 1,898,160 in 2021 to 1,958,310 in 2023, reflecting a growth rate of 3.16%. Consequently, the prevalence of cancer acts as a driving force for the prenatal DNA sequencing market.
The expected increase in the birth rate is poised to contribute to the growth of the prenatal DNA sequencing market. In May 2022, the Centers for Disease Control and Prevention (CDC) reported a 1% rise in U.S. births compared to 2020, reaching a total of 3,659,289 births in 2021. The overall fertility rate for 2021 also increased by 1%, standing at 56.6 births per 1,000 women aged 15-44. Thus, the higher birth rate acts as a driving factor for the prenatal DNA sequencing market.
Product innovation is a prominent trend in the prenatal DNA sequencing market, with major companies concentrating on developing innovative solutions to enhance their market standing. Juno Diagnostics, Inc., a U.S.-based health technology company, introduced the noninvasive prenatal screening test 'Hazel' in November 2022. Designed with no risk of miscarriage, the test can be performed as early as 9 weeks into pregnancy using a small blood sample. It screens for common genetic conditions such as Down syndrome, Edwards syndrome, and Patau syndrome.
Major companies in the prenatal DNA sequencing market are actively developing compliance solutions, such as CE-IVD compliance solutions, to offer a next-generation sequencing approach to noninvasive prenatal testing (NIPT). Illumina, a U.S.-based life science tools developer, partnered with Next Generation Genomic in June 2021 to launch VeriSeq NIPT Solution v2 in Thailand. This CE-IVD next-generation sequencing-based approach expands prenatal screening beyond common aneuploidies to rare autosomal aneuploidies, sex chromosome aneuploidies, and large partial duplications and deletions.
In November 2022, Myriad Genetics, Inc., a U.S.-based provider of genetic testing and precision medicine, acquired Gateway Genomics, LLC, a personal genomics and prenatal DNA company. The undisclosed acquisition is expected to enhance Myriad's women's health product portfolio and provide access to personalized genetic tests, strengthening its position in the market.
Report Scope
Markets Covered
- By Type: Genetic Diseases; Nonhereditary Diseases.
- By Application: Hemophilia; Down Syndrome; Cystic Fibrosis; Autism; DiGeorge Syndrome; AIDS (Acquired Immunodeficiency Syndrome); Cancer; Other Applications.
- By End User: Academic Research; Clinical Research; Hospitals and Clinics; Pharmaceutical and Biotechnology Companies; Other End Users.
Key Companies Mentioned: Agilent Technologies Inc.; BGI Group; F. Hoffmann-La Roche Ltd; Illumina Inc.; Laboratory Corporation of America Holdings.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
A selection of companies mentioned in this report includes:
- Agilent Technologies Inc.
- BGI Group
- F. Hoffmann-La Roche Ltd
- Illumina Inc.
- Laboratory Corporation of America Holdings
- Natera Inc.
- Genomic Health Inc.
- Myriad Genetics Inc.
- Invitae Corporation
- PerkinElmer Inc.
- Macrogen Inc.
- Pacific Biosciences of California Inc.
- Genewiz LLC
- 10x Genomics Inc.
- Oxford Nanopore Technologies Limited
- Thermo Fisher Scientific Inc.
- Berry Genomics Co. Ltd.
- Centrillion Technology Holdings Corp.
- Cynvenio Biosystems Inc.
- Eurofins LifeCodexx AG
- Fluidigm Corp.
- GATC Biotech AG
- GeneDx Inc.
- Genoma SA
- Good Start Genetics Inc.
- Helix OpCo LLC
- Igenomix S.L.
- Integrated DNA Technologies Inc.
- KellBenx Inc.
- LifeCodexx AG
For more information about this report visit https://www.researchandmarkets.com/r/owaa2g
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