Westford, USA, Dec. 04, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Newborn Screening Market size will attain the value of USD 2.12 Billion by 2031, with a CAGR of 6.8% during the forecast period (2024-2031). The rising neonatal population, increasing cases of congenital diseases in newborns and growing consumer awareness are factors estimated to propel newborn screening industry growth over the forecast period. In addition, technological advancements in screening methodologies are also expected to boost the market. These kinds of congenital anomalies consist of genetic disorders, hearing impairment, and metabolic issues. It is crucially important to diagnose such anomalies early because a proper intervention may sharply improve the quality of life and the desired outcome of the treatment for neonates suffering from these conditions.
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Browse in-depth TOC on "Newborn Screening Market "
- Pages – 177
- Tables - 89
- Figures – 71
Newborn Screening Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 1.25 Billion |
| Estimated Value by 2031 | USD 2.12 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Test, Technology, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Advanced Genetic Testing Integration |
| Key Market Opportunities | Global Expansion of Newborn Screening Program |
| Key Market Drivers | Increased Awareness of Genetic Disorders |
Newborn Screening Market Segmental Analysis
Global Newborn Screening Market is segmented by Product, Test, technology, end user and region.
Based on Product, the market is segmented into Consumables, Instruments, Hearing screening instruments, Pulse oximeters.
Based on Test, the market is segmented into Dry blood spot tests, Hearing screening tests, CCHD screening tests.
Based on technology, the market is segmented into Immune assays & enzymatic assays, Tandem mass spectrometry, Molecular assays, Hearing screening technologies, Pulse oximetry, Other Technologies.
Based on end user, the market is segmented into Clinical Laboratories, Hospitals.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Instruments Segment to Dominate Due to Increasing Newborn Screening Programs
As per newborn screening market outlook, the instruments segment accounted for the largest market share of 75.91%. This segment has the potential for the highest compound annual growth rate during the forecast period. Key factors in this segment include increasing newborn screening programs, widespread awareness among people about the importance of early diagnosis and greater investment in newborn screening. Another factor driving the growth of this segment is technological advancement. This is highlighted in the fact that GC Labs has just recently started offering a new diagnostic test for Inborn Errors of Metabolism (IEM) in neonates, incorporating improved techniques for the detection of diseases.
Hearing Screening Technologies Segment is Growing Due to Increased Incidence of Birth Defects in Infants
The hearing screening technologies segment is expected to grow during the forecast period. Increased incidence of birth defects in infants and congenital hearing loss is predicted to drive hearing screens segment during the forecast period to a high compound annual growth rate. As per a 2023 study carried out by the University of Manchester, among every 1000 babies born in the UK, one suffered from birth impairment, hearing. The newborn screening market growth can be attributed to technological advances in hearing testing through automated auditory brainstem response (AABR) and otoacoustic emission (OAE), enabling accurate and rapid diagnosis of infant hearing problems.
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Asia Pacific is Dominating Due to Better Healthcare Services
As per newborn screening market analysis, Asia Pacific had the largest share in the market. This leadership comes from new growth prospects with better healthcare services and infrastructure. Methods of newborn screening are due to high birth rate, population growth and increasing incidence of birth defects in the region. Government policy and expenditure on health facilities is predicted to push the market further.
Drivers
- Growing Prevalence of Congenital Abnormalities
- Governmental Initiatives and Compulsory Screening Programs
- Increased Awareness of Genetic Disorders
Restraints
- Expensive Cost of Newborn Screening Tests
- False Positive Results and Parental Stress
- Lack of Standardization
Prominent Players in Newborn Screening Market
- Masimo Corp.
- Covidien Plc
- AB Sciex LLC
- Natus Medical Inc.
- Agilent Technologies Inc.
- PerkinElmer Inc.
- GE Healthcare
- Bio-Rad Laboratories Inc.
- Trivitron Healthcare
- Medtronic Inc.
- Rady Children's Institute for Genomic Medicine
- GE Lifesciences
- Waters Corporation
- Danaher Corporation
- Thermo Fisher Scientific Inc.
- VIVOSONIC
- ZIVAK TECHNOLOGIES
- CAMAG
- OTODYNAMICS
- ZENTECH
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Key Questions Answered in Newborn Screening Market Report
- Who are the key players in the market?
- Which is the fastest growing region in the market?
- What years does this market cover, and what was the market size in 2023?
This report provides the following insights:
Analysis of key drivers (governmental initiatives and compulsory screening programs), restraints (expensive cost of newborn screening tests), opportunities (advanced genetic testing integration) influencing the growth of Newborn Screening Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Newborn Screening Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Newborn Screening Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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