Global Newborn Screening Market Growing Dynamically—Projected to Reach worth USD 1,479.4 Million in 2027
A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global newborn screening market was worth USD 812.1 million in 2020. The data gathered in the study suggest that the market is further projected to reach USD 1,479.4 million by 2027, at a CAGR of 9.3% during the forecast period (2021-2027). The global newborn screening market is being driven by the rising prevalence of newborn disorders, high birth rates in an emerging market, initiatives by world organizations to ensure child care, and recent developments and innovations to protect newborns. Furthermore, the government, as well as non-government bodies have been taking initiatives to facilitate mother & child care besides introducing reimbursement policies, which the main trends driving the market growth.
Rising Prevalence of Newborn Disorders
Due to the rapidly growing of infant-related disorders the global newborn screening market is experiencing lucrative opportunities. Many key players have raised awareness and support for using advanced screening instruments for the early diagnosis of diseases in newborns. Hearing, metabolic, and hormonal disorders and critical congenital heart diseases are few major disorders prevalent in newborns. The early diagnosis of such diseases can help the doctors to treat them effectively. In a report published in 2020, the WHO (World Health Organization) said that children who died within the first 28 days of birth, died from diseases caused by a lack of quality care at the time of delivery or lack of competent care and treatment shortly after delivery.
Initiatives by World Organizations To Ensure Child Care
Diseases among newborns have become prevalent across all countries. So, countries have started to invest more in research & development by raising their budgets for healthcare.
The WHO in 2020 claimed that around 2.4 million children died in the first month of their life in 2019. However, this could be avoided to some extent by using efficient ways to diagnose and screen newborns. To regulate the situation, the WHO recommends post-natal care by skilled medical professionals within the first 24 hours of childbirth.
According to UNICEF (United Nations Children's Emergency Fund), post-natal care includes the first six weeks of care provided to a newborn following birth. It also says that thorough monitoring for the first two days can prevent neonatal fatalities. Along with post-natal care, it also suggests household survey programs such as Demographic and Health surveys (DHS) and Multiple Indicator Cluster Surveys (MICS) to analyze child-mother care. Additionally, non-government organizations across many countries are also working to raise awareness regarding child & mother care.
Consumables Segment Dominate The Global Newborn Screening Market
In terms of product types, the global newborn screening market type is divided into two categories namely consumables, & instruments. The consumables are further classified into assay kits & reagents, and other consumables. The instrument section, on the other hand, is divided into three sections, namely pulse oximeter, newborn hearing screening, which comprises different devices and accessories, and other instruments. The consumables segment accounts for the largest market share due to the growing demand for consumables in newborn screening. Additionally, increasing newborn disease prevalence and rising health concerns for infants across the globe are the major driving factors that growth of consumables.
Impact of COVID-19 on the Global Newborn Screening Market
The COVID-19 pandemic has been one of the most unpredictable events in recent decades. Apart from ruining health, and causing millions of deaths, it has impacted the global economy too. Soon after the COVID-19 outbreak, several countries imposed nationwide lockdowns to curb the spread of the virus, which in turn affected trade, & industrial supply chains. However, the pandemic has had a negligible impact on the global newborn screening market. This is due to the implementation of tight measures to monitor neonatal health and protect infants against COVID-19 exposure. Many diagnostic laboratories and government agencies have also worked to educate parents about their children's health. Many diagnostic laboratories and government organizations are also working to educate parents about their children's health. Additionally, the newborn screening market industry is constantly thriving to produce advanced screening systems to ensure better quality detection and precision. The increasing demand for newborn screening systems will drive the newborn screening market soon.
North America Dominates the Global Newborn Screening Market
North America leads the global newborn screening market. This can be attributed to the rising demand for advanced screening systems due to the increasing incidence of newborn disorders. Also, the global newborn screening market in North America has been fueled by the rising prevalence of congenital abnormalities, mandatory testing in all 50 states, advantageous reimbursement policies and subsidies, and the presence of key players in the region.
Additionally, the Asia Pacific is also witnessing the fastest growth. This can be due to high natality rates, increasing screening rates, and rising awareness regarding the early diagnosis of severe disorders. Moreover, countries like China have mandated congenital hypothyroidism (CH), phenylketonuria (PKU), and a hearing test by including them under its national screening programs.
Global Newborn Screening Market Competitive Landscape
The global newborn screening market has shown high growth potential which has attracted many new entrants, resulting in greater opportunities. The global newborn screening market is a concentrated market having several key players competing among each other by innovating to introduce newer technologies. Since the COVID-19 outbreak, the market has seen high competition to develop kits and instruments for the early detection of diseases in newborns. Some of the key players in the global newborn screening market are Medtronic Inc., AB Sciex, GE Healthcare, Bio-Rad Laboratories Inc., Masimo Corporation, Natus Medical Incorporated, PerkinElmer Inc., Trivitron Healthcare, ZenTech SA, Demant A/S, Waters Corporation, Thermo Fisher Scientific, Hill-Rom Holdings, Inc., and other prominent players.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global newborn screening market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global newborn screening market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides all-inclusive Market Intelligence (MI) Solutions to businesses regarding various products and services online & offline. We offer comprehensive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solution. BWC has built its reputation from the scratches by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavours successful.
Website : www.blueweaveconsulting.com
US/Can/UK : +1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
Email : firstname.lastname@example.org