Preterm Birth And Prom Testing Market is Estimated to Witness High...

Preterm Birth And Prom Testing Market is Estimated to Witness High Growth Owing to Rising Awareness Regarding Preterm Birth Complications

Posted 2024-01-17 06:15:13

Preterm birth and PROM testing is aimed at monitoring preterm labor and premature rupture of membranes. PROM or premature rupture of membranes refers to rupture of the amniotic sac and fluid prior to the onset of labor. Testing involves monitoring for proteins, enzymes, and other biomarkers through blood and urine tests that can detect preterm birth risks and ruptured membranes. The global preterm birth and PROM testing market offers reagents, assays, and test kits that help monitor pregnancies for risks. It helps detect risks early, enabling intervention and timely treatment to prevent preterm births.

The global preterm birth and prom testing Market is estimated to be valued at US$ 1.69 Bn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One driver mentioned in the heading is rising awareness regarding preterm birth complications. Increased public and medical awareness about complications of preterm birth like developmental disabilities and infant mortality has raised demand for preventive screening and testing. This is prompting healthcare providers and patients to closely monitor pregnancies for risks using available diagnostic techniques and tests. This driver is expected to significantly fuel growth of the preterm birth and PROM testing market over the forecast period.

SWOT Analysis

Strength: The Global Preterm Birth And Prom Testing Market Size offers solutions to diagnose preterm birth at an early stage. Early diagnosis helps physicians plan the pregnancy management and take necessary actions. Furthermore, developing accurate diagnostic tools provide confidence to doctors and patients. Developing non-invasive diagnostic tests reduces healthcare costs and risks associated with invasive procedures.

Weakness: High cost of diagnostic tests and therapies limits its adoption in low and middle-income nations. Significant lack of awareness about early diagnosis and treatment options especially in underdeveloped regions.

Opportunity: Rising maternal and infant mortality rates due to preterm births emphasises the need for early diagnostic solutions. Growing healthcare expenditure and improving access to healthcare in emerging nations provides new growth prospects.

Threats: Stringent regulatory approvals for new diagnostic tests and therapies extends time to market. Emergence of alternative treatment options can affect sales of existing products.

\The global preterm birth and prom testing market is expected to witness high growth. Driven by rising cases of premature births, growing awareness and improving healthcare infrastructure especially in developing nations. The market valued at US$ 1.69 billion in 2024 is projected to reach US$ 2.31 billion by 2030, expanding at a CAGR of 4.7% during the forecast period.

Regional analysis: North America dominates the global market led by developed healthcare system and presence of major market players in the region. However, Asia Pacific is identified as the fastest growing market for preterm birth and prom testing. Rapid economic development, expanding patient pool, and government efforts to reduce maternal and infant mortality rates support the region's strong growth. Recent regulatory approvals of novel diagnostic solutions in Asia will further augment regional growth rates.

Key players: Key players operating in the preterm birth and prom testing market are Sanofi S.A., AbbVie Inc., Perrigo Company PLC, 3M, Lee's Pharmaceutical Holdings Ltd, Cassiopea, Glenmark Pharmaceuticals, Bausch Health, and Novartis International AG. The market shows a moderate level of consolidation with leading manufacturers focusing on geographical expansions and new product launches to strengthen their market share. Companies are investing significantly in developing accurate and affordable diagnostic and treatment options especially for resource-poor regions.

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