Preeclampsia Diagnostics Market Is Estimated To Witness High Growth Owing To Rising Global Prevalence Of Preeclampsia
Preeclampsia is a pregnancy complication characterized by high blood pressure and signs of damage to another organ system, most often the liver and kidneys. It is a multisystem disorder that can affect nearly every organ system in a pregnant woman's body. If left untreated, preeclampsia can progress to become a life-threatening condition for both the mother and baby called eclampsia. The global preeclampsia diagnostics Market involves products such as diagnostic devices and blood tests that help diagnose preeclampsia during pregnancy.
The global Preeclampsia Diagnostics Market is estimated to be valued at Us$ 1587.53 Mn in 2023 and is expected to exhibit a CAGR Of 5.6% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers fueling the growth of the preeclampsia diagnostics market is the rising global prevalence of preeclampsia. According to World Health Organization (WHO) estimates, preeclampsia affects 3-8% of all pregnancies worldwide. It is a leading cause of maternal mortality, morbidity, and preterm birth. The rising incidences of preeclampsia can be attributed to factors such as increasing rates of obesity, diabetes, gestational diabetes, and high blood pressure among women of reproductive age. These medical conditions are known risk factors for developing preeclampsia. Furthermore, lack of early detection of symptoms and delayed diagnosis also contributes to the increasing disease prevalence. Growing awareness about the availability of screening and diagnostic tests for high-risk pregnancies is expected to promote early detection and timely management of preeclampsia. This, in turn, will propel the growth of the global preeclampsia diagnostics market over the forecast period.
SWOT Analysis
Strength: Preeclampsia diagnostics market has seen advances in screening and diagnostic methods over the past decade. More accurate screening tests and diagnostic guidelines have reduced delays in diagnosing preeclampsia. Novel biomarkers continue to be identified and validated that can aid earlier detection of the condition.
Weakness: However, there still exists barriers to widespread adoption of newer diagnostics. High costs of newer tests and lack of education especially in low-income regions limit access. Significant variability also remains in diagnostic practices across care settings.
Opportunity: Growing awareness about preeclampsia and its complications present an opportunity for diagnostic developers. Developing affordable point-of-care tests can improve preeclampsia management outcomes in resource-constrained areas. Public-private partnerships are forming to validate promising biomarkers and scaled their commercialization.
Threats: Changing reimbursement policies and healthcare reforms pose uncertainties in revenue streams. Long developmental timelines and high failure rates of new product candidates remain challenges. Economic slowdowns can delay capital investments towards biomarker R&D.
Key Takeaways
The Global Preeclampsia Diagnostics Market Demand is expected to witness high growth over the forecast period supported by ongoing research. The global preeclampsia diagnostics Market is estimated to be valued at US$ 1587.53 Mn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.
Regional analysis:
North America currently dominates preeclampsia diagnostics sales owing to regulatory approvals and favorable reimbursements. However, Asia Pacific is poised to emerge as the fastest growing regional market led by rising medical expenses and improving access to healthcare in India, China and other developing nations.
Key players:
Key players operating in the preeclampsia diagnostics market are AstraZeneca, CorMedix, Inc., Citus Pharmaceuticals, Fresenius Medical Care, Glenmark Pharmaceuticals Ltd., Geistlich Pharma, Merck & Co., Inc., Pfizer, TauroPhar GmbH, and Xellia Pharmaceuticals Ltd. These companies are focusing on launching novel diagnostic kits, assays and setting up partnerships to expand geographic presence.
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