Growth of Newborn Screening Market: Key Trends and Insights |...

Growth of Newborn Screening Market: Key Trends and Insights

Сообщение 2024-11-14 10:19:38

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The global newborn screening market was valued at USD 789.35 million in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 7.54% from 2023 to 2030. Key factors expected to drive this growth include the increasing neonatal population, a rising incidence of congenital diseases in newborns, greater consumer awareness, and supportive initiatives and programs from governments worldwide. These initiatives often include the implementation of legislation and the organization of public health campaigns aimed at improving early detection and treatment. Additionally, technological advancements in screening techniques are anticipated to further boost the market during the forecast period.

One of the primary factors contributing to the growth of the newborn screening market is the growing prevalence of congenital diseases among newborns. According to data released by the World Health Organization (WHO) in February 2023, approximately 240,000 newborns die within the first 28 days of life each year globally due to congenital diseases. Furthermore, congenital disorders are responsible for an estimated 170,000 child deaths annually in children between the ages of one month and five years. In India, for example, congenital hypothyroidism is present in 2.1 out of every 1,000 infants, while the prevalence of inborn metabolic disorders ranges from 2% to 7.8%. This high incidence of congenital diseases in newborns is expected to drive greater adoption of newborn screening tests, which in turn will support the market's growth over the coming years, particularly by 2030.

Gather more insights about the market drivers, restrains and growth of the Newborn Screening Market

Regional Insights

Asia Pacific

In 2022, the Asia Pacific region held the largest share of the global newborn screening market, contributing approximately 32.90% of the total revenue. Several factors are expected to continue driving this dominant position over the forecast period. Key drivers include the ongoing improvements in healthcare infrastructure, the development of healthcare plans tailored to the needs of newborns, and the increasing opportunities for market expansion. The region's large and growing population, coupled with a high birth rate, creates a significant demand for newborn screening services. Additionally, the rising prevalence of congenital diseases further fuels this demand, making Asia Pacific the fastest-growing market for newborn screening technologies.

North America

In North America, the newborn screening market is projected to grow at a notable compound annual growth rate (CAGR) in the coming years. This growth is largely attributed to the increasing incidence of congenital disorders and the widespread implementation of mandatory newborn screening across the United States. Every state in the U.S. has enforced newborn screening programs, ensuring that these tests are conducted routinely. Well-established programs such as the Newborn Screening Program in Texas, the California Newborn Screening Program, and the New York State Newborn Screening Program are integral to the comprehensive testing efforts. These initiatives are expected to drive market growth in North America as they continue to be rigorously followed.

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Key Companies & Market Share Insights

Key players in the newborn screening market are focusing on strategic partnerships, mergers, and acquisitions to maintain their competitive edge and ensure long-term sustainability. For example, Trivitron Healthcare and Agilent Technologies have entered into a partnership to collaborate on advancing high-precision in-vitro diagnostic solutions using the LC-MS/MS platform. This collaboration is expected to enhance the accuracy and efficiency of newborn screening tests.

In addition, in January 2023, Masimo introduced a new cutting-edge baby monitoring system. This state-of-the-art system allows caretakers and healthcare professionals to monitor babies' health data in real time, which is a significant advancement in newborn care and monitoring. Such technological innovations and strategic collaborations by key industry players are expected to drive further growth and transformation in the newborn screening market.

Key Newborn Screening Companies

Some of the prominent players in the global newborn screening market include:

• Bio-Rad Laboratories

• Agilent Technologies

• Covidien plc

• Masimo

• Waters Corporation

• Natus Medical

• Trivitron Healthcare

• GE Lifesciences

• PerkinElmer Inc

• AB SCIEX