Preeclampsia Diagnostics Market is Estimated to Witness Significant Growth Owing to Rising Incidence of High Blood Pressure during Pregnancy
Preeclampsia diagnostics products help in the early detection of preeclampsia, a pregnancy complication characterized by high blood pressure. These products include instruments, consumables, and reagents used in blood pressure monitoring tests and urinalysis. The growing incidence of gestational diabetes and hypertension during pregnancy is driving the demand for preeclampsia diagnostics to prevent adverse health effects on both mother and baby.
The global Preeclampsia Diagnostics Market is estimated to be valued at US$ 652.5 million in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity: Rising incidence of high blood pressure during pregnancy owing to sedentary lifestyle and obesity is a major growth opportunity for players in the preeclampsia diagnostics market. According to recent studies, around 10% of all pregnancies are affected by preeclampsia globally. However, early detection through regular monitoring and urine testing can help manage the condition and prevent complications. The development of point-of-care screening tests and home monitoring devices present an opportunity for market players to expand access and awareness regarding preeclampsia diagnosis, especially in developing regions.
Porter's Analysis:
Threat of new entrants: The threat of new entrants in the Global preeclampsia diagnostics market size is moderate as it requires extensive R&D and regulatory approvals. However, established diagnostic players can easily diversify into this market.
Bargaining power of buyers: The bargaining power of buyers in the preeclampsia diagnostics market is high due to the presence of several diagnostic options. Buyers can conveniently switch between players based on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many device and diagnostic kit manufacturers present in the market.
Threat of new substitutes: The threat of new substitutes is low as preeclampsia diagnostics have no close substitute. Innovation may bring new advanced diagnostics but it will take time to gain acceptance.
Competitive rivalry: The competitive rivalry is high among major diagnostic players to gain more market share through new product launches and strategic partnerships.
SWOT Analysis:
Strengths: Availability of various diagnostic platforms including urine tests, blood tests and ultrasound for detection. Growing awareness about importance of early detection of preeclampsia.
Weaknesses: High cost of advanced diagnostic devices limits their use in resource poor settings. Lack of definite diagnostic markers makes diagnosis challenging.
Opportunities: Emerging economies with large population present huge market potential. Continuous innovations will further improve diagnostic accuracy and reduce turn-around time.
Threats: Stringent regulatory environment for approval of diagnostic tests delays market entry. Reimbursement issues in some regions restricts adoption of advanced diagnostic methods.
Key Takeaways:
The global preeclampsia diagnostics market is expected to witness high growth during the forecast period owing to factors such as rising pregnancies in developing countries, increasing healthcare expenditures, technological advancements etc. The global Preeclampsia Diagnostics Market is estimated to be valued at US$ 652.5 million in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030.
North America dominates the global market and is expected to continue its dominance during the forecast period. This is attributed to the well-established healthcare system, high diagnostic and treatment costs, and presence of major players in the region. However, Asia Pacific is anticipated to grow at the fastest pace owing to rapid economic development, rising healthcare spending, increasing public awareness etc.
Key players operating in the preeclampsia diagnostics market are Siemens Healthineers AG, DRG INSTRUMENTS GMBH, Roche Diagnostics, Abbott Laboratories, Bayer AG etc. Siemens Healthineers AG offers the Atellica Solution, an automated clinical chemistry & immunoassay analyzer used in preeclampsia diagnosis. Roche Diagnostics provides the cobas e411 analyzer and cobas e601 module for cardiac tests used in associated with preeclampsia.
Get More Insights On This Topic: https://www.newswirestats.com/preeclampsia-diagnostics-market-forecast-outlook-trend-2023-2030/
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