Non Invasive Prenatal Testing (NIPT) MarketExpecting Major Surge in Revenue in Next FIVE Years..!
Several countries across the globe have seen non-urgent diagnostic imaging surgeries being postponed due to the pandemic. These procedures utilize additional resources and increase the risk of complications; depending on the procedure, they also increase the chance of needing equipment, resources, or materials such as hospital beds and PPE.
Growth in this market is driven by the high risk of chromosomal abnormalities with increasing maternal age, growing preference for non-invasive techniques over invasive methods, improving reimbursement scenario for NIPT, and increasing awareness of NIPT. However, a dearth of skilled professionals is restraining the growth of this market.
What the Non Invasive Prenatal Testing (NIPT) Market Looks Like?
MarketsandMarkets forecasts The global non-invasive prenatal testing (NIPT) market is estimated to reach USD 7.3 billion by 2024 from USD 3.9 billion in 2019, at a CAGR of 13.5% during the forecast period. North America accounted for the largest share of the radiation dose management market in 2019.
By method, the NIPT products market is segmented into ultrasound detection, biochemical screening tests, and cell-free DNA in maternal plasma tests. The cfDNA in maternal plasma tests segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is attributed to technological advancements and increasing company initiatives to develop new products.
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What Drives the Radiation Dose Management Market?
The growth of the global market for Radiation Dose Management Market is primarily influenced by the following factors:
- High Risk of Chromosomal Abnormalities With Increasing Maternal Age
- Growing Preference for Noninvasive Techniques Over Invasive Methods
- Improving Reimbursement Scenario for NIPT
- Programs Focusing on Increasing the Awareness of NIPT
Based on application, the non-invasive prenatal testing (NIPT) market is segmented into trisomy, microdeletion syndrome, and other applications (gender identification and the detection of monogenic disorders, Klinefelter syndrome, and Rhesus (Rh) blood type). In 2018, trisomy was the largest application segment of the NIPT market. This segment is also estimated to grow at the highest CAGR during the forecast period.
Recent Developments :
- In June 2019, BGI and Eluthia (Germany) launched the NIFTY test (non-invasive prenatal test), under the brand name PreviaTest in Germany.
- In January 2019, Illumina expanded its NIPT platform with the launch of VeriSeq NIPT Solution v2.
- In November 2018, Illumina and Pacific Biosciences signed an agreement for Illumina to acquire Pacific Biosciences. This acquisition will allow Illumina to strengthen its sequencing solutions platform with accurate long-read sequencing capabilities.
- In January 2017, Agilent Technology acquired Multiplicom N.V. (Belgium) in order to create comprehensive offerings for next-generation sequencing solutions. Multiplicom develops and commercializes molecular diagnostic solutions which are useful in the identification of congenital defects early in pregnancy and other genetic diseases
Geographical growth scenario of non-invasive prenatal testing market :
Geographically, the non-invasive prenatal testing market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2019, North America accounted for the largest market share, followed by Europe. On the other hand, Asia is expected to grow at the highest CAGR during the forecast period. The developing healthcare infrastructure, rising awareness programs & conferences, and rising focus of prominent players on expanding their presence in Asia are driving market growth in this region
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Leading market players and strategies adopted
The NIPT market is diversified and highly competitive, with a large number of players competing for market space. The prominent players in the market are Illumina, Inc. (US), Thermo Fisher Scientific Inc. (US), GE Healthcare (US), BGI (China), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer Inc. (US), Laboratory Corporation of America Holdings (US), Natera, Inc. (US), and Yourgene Health (UK)
Illumina is one of the major players in the non-invasive prenatal testing market. The company offers a range of highly interconnected products related to sequencing, genotyping, gene expression, and molecular diagnostics. It also offers whole-genome sequencing, genotyping, NIPT, and support services which further strengthen its market position.
Critical questions the report answers:
- Where will all these developments take the industry in the mid to long-term?
- What types of annual and multi-year partnerships are NIPT product and service companies exploring?
- Which are the key players in the market and how intense is the competition?
- Which are the recent contracts and agreements key players have signed?
- What are the recent trends affecting NIPT product and service providers?
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