Portland, OR, June 21, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global newborn screening market was estimated at $1.1 billion in 2021 and is expected to hit $2.0 billion by 2031, registering a CAGR of 6.8% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
High birth rate and increase in the incidence of neonatal diseases drive the growth of the global newborn screening market. On the other hand, lack of improvement in healthcare infrastructure and limited number of trained professionals restrict the market growth. However, screening of genetic disorders and emerging market such as Brazil, China, and India Brazil provide significant opportunities for the key players in the industry.
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Impact of Covid-19 on Newborn Screening Market-
- The Covid-19 pandemic had a negative impact on the newborn screening market, as the majority of the screening centers experienced a broad spectrum of difficulties and most were affected during the pandemic.
- Availability of laboratory equipment and reagents was also delayed due to postal delays and unreliability, as well as flight cancellation.
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The global newborn screening market is analyzed across product type, test type, technology, end-user, and region. Based on product type, the consumables segment contributed to nearly two-thirds of the total market revenue in 2021 and is projected to lead the trail by 2031. The same segment would also exhibit the fastest CAGR of 7.2% during the forecast period.
Based on test type, the blood test segment generated the highest share in 2021, accounting for more than two-fifths of the global market. The same segment would also portray the fastest CAGR of 7.3% from 2022 to 2031.
Based on region, the market across North America held the major share in 2021, garnering nearly half of the global market. The Asia-Pacific region, on the other hand, would manifest the fastest CAGR of 7.9% throughout the forecast period.
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The key market players analyzed in the global newborn screening market report include Perkinelmer, Inc., Waters Corporation, Natus Medical Incorporated, Trivitron Healthcare, Masimo Corporation, Agilent Technologies Inc., Covidien Plc, Ab Sciex LLC (a subsidiary of Danaher Corporation), Ge Healthcare (a subsidiary of General Electric Company), and Bio-Rad Laboratories, Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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