Preeclampsia Diagnostics Market is Estimated To Witness High Growth Owing To Adoption of Non-Invasive Diagnostic Tests
Market Overview:
The Preeclampsia Diagnostics Market includes diagnostic tests that help detect preeclampsia during pregnancy. Some common diagnostic tests for preeclampsia include blood pressure monitoring, urine analysis to detect protein levels, and blood tests to check platelet count and kidney and liver function. Rapid advancements in non-invasive diagnostic technologies are helping detect preeclampsia at an early stage.
The Preeclampsia Diagnostics market is estimated to be valued at US$ 1,587.53 Mn or Mn in 2023 and is expected to exhibit a CAGR of 11.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the preeclampsia diagnostics market is the increasing adoption of non-invasive prenatal diagnostic tests. Companies are focusing on developing non-invasive prenatal tests (NIPT) using cell-free DNA analysis of maternal blood samples. NIPT helps detect genetic disorders like Down's syndrome at an early stage without any risk to the fetus. For example, Sera Prognostics offers a non-invasive prenatal blood test called PreTRM® test that uses a proprietary algorithm and proteomics approach to predict the risk of premature delivery. Such rapid adoption of non-invasive diagnostic technologies is expected to drive the growth of preeclampsia diagnostics market over the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate due to large capital requirements needed for R&D and high switching costs for customers.
Bargaining power of buyers: The bargaining power of buyers is high as there are many established players in the market providing substitutable products/services.
Bargaining power of suppliers: The bargaining power of suppliers is low as there are many suppliers in the market and the costs of switching suppliers are low.
Threat of new substitutes: The threat of new substitutes is high due to ongoing innovation and development of new alternative diagnostic tools.
Competitive rivalry: Intense due to established players.
SWOT Analysis
Strength: Established distribution channels and brand recognition among healthcare providers.
Weakness: High research and development costs, stringent regulatory guidelines.
Opportunity: Increasing healthcare spending and emerging economies providing high growth opportunities.
Weakness: Changing reimbursement policies and pricing pressures reducing profit margins.
Opportunity: Growing geriatric population increasing the prevalence of pregnancy related complications.
Threats: Economic slowdowns reducing disposable incomes and purchasing of non-essential diagnostic services.
Key Takeaways
The Global Preeclampsia Diagnostics Market Size is expected to witness high growth, exhibiting a CAGR of 11.8% over the forecast period, due to increasing research into novel biomarkers. Demand for minimally invasive diagnostic procedures is growing with enhanced patient outcomes.
Regional analysis: North America dominates the global market due to presence of major players and rising healthcare expenditure. However, Asia Pacific is expected to be the fastest growing market owing to growing patient pool and improving healthcare infrastructure.
Key players analysis: Key players operating in the Preeclampsia Diagnostics market are Diabetomics, Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Siemens Healthineers AG, DRG INSTRUMENTS GMBH, Metabolomic Diagnostics Ltd., Sera Prognostics, MOMM Diagnostics, Miraculins Inc. These players are focusing on new product launches and partnerships to strengthen their market position.
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