Non-Invasive Prenatal Testing Market Insights Shows Industry Expansion with Improved Awareness in User Base
Non-Invasive Prenatal Testing Market Scope
Market Research Future (MRFR) non-invasive prenatal testing market insights report expects the industry to generate a respectable amount of revenue. The Non-Invasive Prenatal Testing Market is expected to reach USD 3.99 Billion by 2030 at 12.90% CAGR during the forecast period 2022-2030.
Primary Boosters and Restraints
Escalation in cases of chromosomal abnormalities along with the rising use of NIPT devices in a variety of applications could help generate significant revenues in the coming years. Innovations in non-invasive prenatal tests to facilitate higher functions, better bioinformatics analysis and improved chemistry should also spur the business growth. Improvements in reimbursement policies with respect to low-risk and average pregnancies also enhances the market size.
NIPT is increasingly being used among patients above the age of 35 experiencing high-risk pregnancies. Mounting awareness level about chromosomal anomalies like Down syndrome also encourage women to opt for these tests.
Companies are constantly striving to develop advanced NIPT solutions to bolster their sales, in order to remain competitive in the global market. Most of these players also work on fostering their portfolios to fortify their market standings, while also launching new tests in the market.
To offer a comprehensive framework of the non-invasive prenatal testing industry, the MRFR report has outlined a few major segments, namely product type, techniques, application, and end-user.
Consumables, devices, and others are some of the key product types available in the global market.
Techniques considered in the report include ultrasound detection and biochemical screening tests. Ultrasound detection is deemed to be the prominent standard for fetal screening and its demand is considerably higher than biochemical screening tests since they are painless and injections, incisions or needles are not required.
Top applications are Microdeletion syndrome, Trisomy, and others.
Prominent end-users in the industry are research institutes, hospitals, diagnostic laboratories and more. Diagnostic laboratories form the biggest segment in the market as a large number of these facilities offer NIPT testing devices as well as services.
The global industry has been regionally considered for Asia Pacific/APAC and MEA or Middle East & Africa coupled with the Americas as well as Europe.
The American market stands at the top spot and is expected to maintain its lead throughout the analysis period. The market demand is significantly high in Canada and the US, with these countries home to numerous well-established firms offering extensive ranges of non-invasive prenatal testing devices and services. Additionally, the latest COVID-19 outbreak and the lockdown have shed light on the importance of NIPT, since it offers significantly accurate screening with reduced chances of infection, especially compared to its invasive counterpart, like chorionic villus sampling (CVS) and Amniocentesis. Simply put, the American market has witnessed a surge in the use of NIPTs since the lockdown, backed by multifactorial reasons. One reason can be the de-escalation in elective procedures in clinics and hospitals due to the fear of the pandemic, and general reluctance among patients.
Several regulatory agencies in Europe frequently conduct NIPT-based activities, which has been favorable for the market to a large extent. Europe’s strong growth in the global market is the result of the exhaustive research and development activities carried out by leading companies. Government’s support as well as the availability of favorable reimbursement schemes also render significant market growth. Constant launch of technically advanced tests should encourage market expansion in the ensuing years as well.
Since several global players are gaining entry into Asia Pacific, sensing the host of lucrative opportunities, it is believed that the regional market will progress at the fastest rate in the years to come. On top of that, constant advancements in the healthcare sector, backed by rising investments and the surge in research activities carried out by local firms also enhance the growth potential of the APAC market. Growth in people’s per capita income and the soaring demand for well-equipped medical facilities present attractive opportunities as well. With companies like BGI present in China, the APAC market is bound to exhibit commendable growth in subsequent years.
General Electric Company [GE Healthcare] (US), Perkinelmer, Inc. (US), Illumina, Inc. (US), Beijing Genomics Institute (China), Thermo Fisher Scientific, Inc. (US), Tarsa Therapeutics Inc. (US), PhytoHealth Corporation (Taiwan), Laboratory Corporation of America Holdings (US), Hoffman-La Roche Ltd. (Switzerland), Yourgene Health (UK), Centogene Holding AG [CENTOGENE AG] (Germany), Natera, Inc. (US), Agilent Technologies, Inc. (US), are some of the top companies listed in the non-invasive prenatal testing market outlook report.
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