Noninvasive prenatal testing nipt market Size 2021 By Share, Industry Statistics, Global Trends Evaluation, Geographical Segmentation, Business Challenges and Investment Opportunities Analysis till 2030
In a recent published report, Kenneth Research has updated the market report for Non invasive prenatal testing nipt market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Non invasive prenatal testing nipt market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Global Non-invasive Prenatal Testing (NIPT) Market: Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025
[83 pages report] This market research report includes a detailed segmentation of the global non-invasive prenatal testing market – By Application (Trisomy, Microdeletion Syndrome, and Other NIPT Applications), and By Region (North America, Europe, Asia Pacific, and Rest of the World).
Overview of the Global Non-invasive Prenatal Testing Market Research
Kenneth’s market research report predicts that the global non-invasive prenatal testing market will grow at a CAGR of 17.5% during the forecast period 2019–2025. The market has witnessed steady growth in the past few years and development in technology with the introduction of advanced products has increased the acceptance of non-invasive prenatal testing products in the market. The market is fueled by an upsurge in the number of newborns with chromosomal disorders due to the increasing number of late pregnancies and growing demand for non-invasive procedures for early diagnosis.
The global market continues to grow, and NIPT is among the most widely used techniques for detecting genetic disorders in the fetal stage, which will help in the proper management of disease during the initial period of the gestation. The field is getting revolutionized with the advancement in technology. Vendors are focusing on new product launches, product approvals, and targeting end-user’s perspective. The market generates revenue from the key players operating in this field, and few of them include Illumina Inc., Laboratory Corporation of America Holdings, Natera Inc., F. Hoffmann-La Roche Ltd., and Beijing Genomics Institute.
According to Kenneth Research analysis, North America accounted for the largest share in the global non-invasive prenatal testing market in 2018 and will retain a high position during the forecast period. According to WHO estimation, the prevalence of Down syndrome is between 1 in 1,000 and 1 in 1,100 live births worldwide. The incidence of Down syndrome is 1 in 212 with the women age between 35 and 39 and the risk significantly increases with maternal age, i.e., above 45, the incidence rate is 1 in 33 newborns. But the risk rate is very low in younger women in the age group of 24–25 years with incidence rate reduced to 1 in 1429.
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The risk of aneuploidy also increases with maternal age with an incidence rate of 1 in 192 for women in the age group of 35 years and 1 in 66 in the age group up of 40. Favorable reimbursement policies, availability of advanced technologies, presence of prominent vendors, and an increase in the prevalence of genetic disorders will increase the adoption and demand for tests in this region. Asia Pacific is expected to grow at a high CAGR during the forecast period, owing to factors such as increasing awareness of early disease diagnosis, increasing healthcare expenditure, and presence of huge population base.
By Application:
• Trisomy
• Microdeletion Syndrome
• Other NIPT Applications
In 2018, the trisomy segment occupied the largest share and is expected to grow at a high CAGR during the forecast period. Increasing incidence of chromosomal anomalies coupled with advanced maternal age makes the segment the major shareholder in the global non-invasive prenatal testing market. Further, innovations in technology are likely to propel the growth of the segment during the forecast period.
By Regions:
• North America
• Europe
• APAC
• RoW
The global market is dominated by North America, followed by Europe and Asia Pacific. The US occupied the dominant share in the North American market due to the increasing adoption of high- and average-risk NIPT test, rising number of late pregnancies that increase the number of newborns with Down syndrome, no risk of miscarriage, and availability of the advanced tests due to the presence of dominant vendors in the region.
Non-Invasive Prenatal Testing Market Research Competitive Analysis – The global non-invasive prenatal testing market has massive growth opportunities in both developed and developing regions.
The advancements of tests will increase the competition among vendors. The increased focus of diagnostics and biotechnology companies has led to an increase in deals related to non-invasive testing products due to its increasing popularity. 10x Genomics Inc. and Berry Genomics Co. Ltd. entered into a collaboration to further develop approaches for next-generation NIPT in January 2018. In early 2018, IONA test developed by Premaitha Health plc has been approved by Brazil’s regulatory authority, Agência Nacional de Vigilância Sanitária, for sale in the country as an IVD. In late 2018, PerkinElmer’s Vanadis NIPT system obtained CE-IVD mark for commercialization and distribution in Europe and in other countries where CE-IVD mark is accepted.
The key market vendors are focusing on increasing the product portfolio. There are few acquisitions in the last few years. Premaitha acquired Yourgene Bioscience in Taiwan in March 2017. In July 2017, Eurofins Scientific closed the acquisition of GATC Biotech AG and this transaction comprises the acquisition of 62.63% of the shares owned by GATC in LifeCodexx AG, one of the Europe’s specialists in NIPT. In addition, other leading players are focusing on hugely investing in R&D activities to develop new products to attain a maximum share in the market.
Key vendors:
• Natera Inc.
• Laboratory Corporation of America Holdings (LabCorp)
• Illumina Inc.
• F. Hoffmann-La Roche
• Beijing Genomics Institute
• LifeCodexx AG
• Quest Diagnostics
• Yourgene Health Plc
• Myriad Genetics Inc.
• NIPD Genetics
• PerkinElmer Inc.
• Next Biosciences (Pty) Limited
Key competitive facts:
• The market is highly competitive with all the players competing to gain market shares. Intense competition, rapid advancements in technology, frequent changes in government policies, and the prices are key factors that confront the market.
• The requirement of high initial investment, implementation, and maintenance cost in the market are also limiting the entry of new players.
Benefits – The report provides complete details about the adoption rate of non-invasive prenatal tests. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.
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Key Takeaways:
• Understanding the potential market opportunity with precise market size and forecast data.
• A detailed market analysis focusing on the growth of the non-invasive prenatal testing industry.
• Factors influencing the growth of the non-invasive prenatal testing market.
• In-depth competitive analysis of dominant and pure-play vendors.
• Prediction analysis of the non-invasive prenatal testing industry in both developed and developing regions.
• Key insights related to major segments of the non-invasive prenatal testing market.
• Latest market trend analysis impacting the buying behavior of the consumers.
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