Global Preeclampsia Laboratory Testing Market Leans on Awareness; Fairfield Market Research Projects over 10% Growth by 2025
Up from revenues worth US$1,242.9 Mn in 2020, the global preeclampsia laboratory testing market will thrive at a promising 10.2% CAGR during 2021 – 2025. A new market intelligence report published by Fairfield Market Research states that in addition to high prevalence of preeclampsia, an improving level of awareness and rate of early diagnosis are driving the growth of market. Blood tests remain preferred over urine tests owing to their accuracy in diagnosis of preeclampsia.
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Pressing Need for Efficient Preeclampsia Diagnostics to Fuel Market Expansion
While maternal and/or foetal mortality due to undiagnosed and/or untreated preeclampsia can be prevented, awareness will remain instrumental to the market build-up, says the report. There has been notable improvement in awareness about preeclampsia screening during the course of antenatal care, which reflects a strong indication that the market for preeclampsia laboratory testing will witness a progressing trail in long term. Scarce availability of efficient midwives and obstetric healthcare centres amid the current pandemic is resulting in delayed or cancelled cases of abortion. In addition, the number of COVID-19 positive pregnant women is on the rise. This situation raises demand for efficient preeclampsia diagnostics, bolstering the growth of preeclampsia laboratory testing market.
Elevating Health and Economic Burden Raises Scope for Market Growth
While developing economies have been struggling with the rising health and economic burden, the developed world is also facing the similar challenge. In the US alone, preeclampsia is the third leading cause of maternal mortality and the fraction of maternal deaths there is considerable. The medical costs associated with preeclampsia patients and infants born to them are over the odds for general public, as stated by Preeclampsia Foundation. On other hand, in some of the Asian and African countries, about 1 in 10 deaths is associated with hypertension in pregnancy. In a majority of low- and middle-income economies, an average rate of preeclampsia prevalence is 8-10%.
Asia Pacific Remains Potential Hotspot in Preeclampsia Laboratory Testing Market
The regional analysis reveals that North America is spearheading the global market and will demonstrate a robust 9.6% CAGR through 2026. This growth is attributed to the various initiatives in favour of developing and maintaining better diagnostics regimen for preeclampsia.
On the other side, the impact is more severe in developing nations as a result of deficient policy structure, delayed diagnosis and decision making, delayed healthcare access, and lack of proper implementation at micro and macro levels. Players in preeclampsia laboratory testing market thus currently face major obstacles especially in developing regional markets. Fast-developing Asian countries such as China and India have been witnessing higher rates of preeclampsia instances. Asia Pacific will remain a high-potential market for the companies active in preeclampsia laboratory testing market.
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Competition Intensifies with Collaborated R&D Efforts and New Test Introductions
The report provides elaborate strategic insights into some of the most prominent players participating in the global preeclampsia laboratory testing market. ThermoFischer Scientific, F. Hoffmann-La Roche AG, and PerkinElmer, Inc. represent the global market leaders currently accounting for a collective share of more than 60% in the total market revenue. Bayer AG, Sera Prognostics, Inc., Siemens Healthineers AG, Diabetomics, Inc., Metabolomic Diagnostics Ltd., Progenity, Inc., and DRG Instruments GmbH are the other important companies contributing their share towards the growth of preeclampsia laboratory testing landscape.
Over the recent past, launch of new products is trending the competition landscape. In 2019, Diabetomics, Inc. introduced Lumella, a rapid point-of-care (POC) test that identifies the level of risk of developing preeclampsia among pregnant women. The soon-to-commercialise preeclampsia rule-out test launched by Progenity, Inc. is expected to add to the momentum of preeclampsia laboratory testing in the near future. Some pharma players are also focusing on R&D in collaboration with recognised research companies. In 2020, Ferring Pharmaceuticals and Igenomix, S.L. announced a project on the development of novel therapeutic and diagnostic procedures for preeclampsia.
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